Posts Tagged ‘U.S. dollar’

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North Korea’s costly assault on U.S. currency

May 22, 2015

The reason the U.S. has had to incorporate high-tech features into its currency wasn’t because of domestic crooks. It was to retard North Korea from its ongoing, coordinated attempts to flood the world with counterfeit notes and devalue the greenback. This information comes from testimony before Congress by Dr. David Asher. Rep. Al Green (D-TX) asked witnesses about counterfeit bills and merchandise yesterday:

Meanwhile, Pakistan has been doing the same thing to India, a phenomenon that has been ignored by Western media. It’s time for national security analysts to take note that counterfeiting is no longer a strictly criminal activity for profit, but a state-sponsored activity for political, war-making, diplomatic, and larger economic purposes.

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Sordid money: recommended news reading

May 7, 2015
  • National security adviser:  millions of dollars are coming from the Arab Gulf to Canada to promote a “jihadist interpretation of the Qur’an”… more>>
  • Where is Iran getting U.S. currency that it sends to Hamas?  From Baghdad and the Kurdish region of Iraq… more>>
  • T. Boone Pickens:  There’s no need to negotiate with Iranian liars because “we do not need Mid-East oil” any longer.  The U.S. has plenty energy resources of its own… more>>
  • Former Guantanamo Bay detainees are seeking a housing allowance from the United States.  You see, their four-bedroom house in Montevideo isn’t spacious enough… more>>
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War on Qaddafi based on fear of gold standard

August 11, 2011

Umm… okay… right…

Well, the theory that Europe and the United States have gone on the offensive against Muamar Qaddafi makes “sense” only if you have the same world view as one of the sources for this theory, Louis Farrakhan.

The weird leader of the Nation of Islam recently had this exchange on a program called “Spectrum Today”:

‘How’s America’s wealth today? How is she doing financially? What is the deficit? Some say it’s about US$56 trillion counting Social Security and Medicare.

‘That’s a big number. She’s printing money, but there’s nothing backing it,’ said Farrakhan.

In the book, ‘The Fall of America,’ Elijah Muhammad wrote, ‘The English pound and the American dollar have been the power and beckoning light of these two great powers.

‘But when the world went off the gold and silver standard, the financial doom of England and America was sealed.’

Muhammad added: ‘The fall of America is now visible and understandable. Long has Allah been gradually removing the power of the great and mighty America while few have noticed it. This has been done by degrees, and they do not perceive it.’

This article from the Southern Times lays out the theory that Qaddafi possesses a lot of gold, and intended to create a Muslim and pan-African currency backed by gold that would change the global balance of financial power.  The fear of that possibility is what has prompted the U.S. and Europe to declare that “Qaddafi must go.”  The West would be shaking in its boots, the author argues, if oil-exporting countries began selling their oil for gold dinars rather than U.S. dollars.

The only reason this bizarre fantasy deserves any ink on this blog is because it highlights the fixation that Muslim authorities have for re-imposing the gold standard on an unwilling world.  Their belief is based, not on a solid understanding of economics or trade, but upon the idea that the Profiteer Muhammad used only coins of gold and silver in the Seventh Century, and so should we.  They also despise paper currency that is backed only by the faith and credit of an infidel government.

The gold bugs are getting buggier.

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Counterfeit intifada

July 24, 2011

Counterfeiting “infidel” currencies has become a common tactic among jihadist groups.  It has, for example, reached crisis proportions against the “Hindu” rupee.

Add Gaza to the list of counterfeiters of the kaffir U.S. dollar.  From Elder of Ziyon on July 11:

Ma’an (Arabic) reports that Hamas has arrested people who were counterfeiting American $100 bills in Gaza. They caught over $200,000 of fake currency.

The counterfeiters’ tool? An HP 5550 color laser printer.

Hamas has good reason to arrest the counterfeiters. After all, they want to make sure that they corner the market for themselves.

In her book, Funding Evil, Rachel Ehrenfeld described counterfeiting of Israeli shekels by terrorists in the Palestinian territories:  “[I]n April 2002 the IDF found ‘large quantities’ of counterfeit Israeli currency in denominations of 50-, 100-, and 200-sheqel notes, in Arafat’s compound in Ramallah” (p. 91 in the paperback edition).

Ehrenfeld also writes that Argentinian police alleged that Latin American based Hezbollah operative Assad Muhammad Barakat “had distributed $60 million in Colombian-printed counterfeit U.S. dollars, and that he had participated in the 1994 bombing of the Jewish Community Center in Buenos Aires…” (p. 150).

The lessons that the enemies of Israel have learned is that if we don’t give you enough millions of dollars in foreign aid, just Xerox your own!