Cryptocurrency: US Prints Counterfeit Dollars at a Loss (to You)

grarpamp grarpamp at
Wed May 19 21:50:25 PDT 2021

While China sells its printing of them for profit on the darknets.

Regardless of who prints it, you're still Fucked by Fiat, with intent.

Customs and Border Protection (CBP) in Chicago recently stopped
several shipments containing counterfeit currencies totaling $685,000
from China, the agency announced on Tuesday.

The shipments arrived at Chicago’s International Mail Facility (IMF)
between May 15 and 17, destined for cities in several states including
Illinois, Indiana, New York, and Kentucky. The fake currencies came in
the form of $5, $10, $20, $50, and $100 bills.

One shipment was destined for the Bronx, New York containing 976 $100
bills. Another shipment was headed to Louisville, Kentucky containing
101 $20 bills and 103 $50 bills. All of these shipments were
manifested as prop money.

    “Our CBP officers are always on the alert watching for any type of
prohibited shipments that come through the IMF,” said Shane Campbell,
area port director-Chicago, according to a statement.

    He added, “By stopping these shipments we are protecting our
financial institutions, businesses, and the public.”

China remains the top source of fake goods entering the U.S. market.
According to statistics from the U.S. Department of Homeland Security,
CBP made 27,599 seizures in the fiscal year 2019. These goods would
have had an estimated retail price of over $1.5 billion if they were

Among these seizures in 2019, 13,293, or 48 percent, originated from
China, followed by Hong Kong with 9,778 seizures, or 35 percent. The
top category of seized products was counterfeit watches and jewelry,
at 15 percent, followed by apparel and accessories at 14 percent.

The fake money seized by CBP officers in Chicago was hardly an
isolated incident.

On April 23, CPB officers in the city announced a recent seizure of
281 shipments containing counterfeit bills and coins at Chicago’s IMF.
Ninety-five percent of these shipments originated from China.

    281, that is how many parcels CBP officers in Chicago seized that
contained counterfeit currency. Some of the bogus money was $100
bills, but the majority was coin currency with a lot of it heading to
various cities across the U.S.
    — CBP Chicago (@CBPChicago) April 23, 2021

In total, the 281 shipments consisted of 39 fake 50-cent coins, 6,345
fake $1 coins, 283 fake $2.5 coins, and 1,589 fake $100 bills.

    “Counterfeiting is a lucrative business which is often used to
finance illegal activities such as trafficking in human beings, drugs,
and even terrorism,” stated Mike Pfeiffer, assistant area port
director-Chicago, in a statement following the seizure of the fake
bills and coins.

Just weeks earlier, on April 6, CBP officers in Chicago also announced
that they seized more than 100 shipments—nearly all coming from
China—containing counterfeit currency totaling more than $1.64
million. The shipments arrived in the United States between Jan. 1 and
March 31. The fake currency included U.S. bills, U.S. coins, and

    Counterfeit currency has been plentiful during the past 3 months
at the International Mail Facility at O’Hare. CBP officers seized 109
packages containing different denominations of paper currency,
collectible coins & foreign currency; $1.64M
    — CBP Chicago (@CBPChicago) April 6, 2021

For the fiscal year 2020, which spanned from Oct. 1, 2019 to Sept. 30,
2020, CPB officers in Chicago stated that they seized more than $10.6
million in fake money.

Chicago was not the only area where counterfeit money was being
stopped. In June 2020, CPB officers in Milwaukee stopped a shipment
from Shanghai to a residence in Milwaukee. Inside the shipment were
3,515 fake $100 bills.

In May 2020, CPB officers at an Express Consignment Operations hub in
Cincinnati announced the seizure of a shipment containing 2,523 fake
$100 bills. The shipment originated from Shenzhen, a city in southern
China, and was headed to Guthrie, Oklahoma.

More information about the cypherpunks mailing list