Posted on 05/18/2011 7:55:32 AM PDT by TigerLikesRooster
N. Korea: Forged Notes Lead to Currency and Regime Stability Concerns in the North
Forged Notes Lead to Currency and Regime Stability Concerns in the North
Security agency orders the apprehension of mastermind of Kim Il-sung image on forged 5,000 won notes
75 thousand to 1 million dollars worth of currency distributed around the regions
Money initially laundered in dollars or yuan
Market workers quiet as forged rumors of another 'currency reform' spread
2011-05-17 16:29:26
Cho, Sun-ah
An NKSIS source reported April 26th, "A special team has been created by order of the Party Central Military Commission to track the origins of forged North Korean currency found in the city of Pyongyang, as well as Yangkang and North Hamkyong provinces. It was put together on the 24th April."
Quoting an insider in the Security Department the source said, "The Central Military Commission has ordered the immediate tracking of the individual responsible for manufacturing the forged 5,000 won notes recently uncovered in Pyongsung and Pyongyang's markets. The 5,000 won note contains a portrait of Kim Il-sung. The ten member team responsible for investigating the incident comprises security agents and Central Bank employees."
According to the source, 75 thousand to 1 million dollars worth of currency was boxed in the forgery location and is being distributed around the provinces. 30% of the notes delivered to each province are intended to be exchanged in dollars or yuan in the first instance. Up until last year, forged North Korean currency was exchanged for medicinal plants or some such resource in a complicated exchange procedure. This year, however, it is being converted in straight currency swaps.
(Excerpt) Read more at eng.nksis.com ...
P!
If I was running the CIA, this would have been a covert op for fun. You forge my currency, I forge your currency.
Actually, I think that is an eminent possibility.
what goes around comes around
It is possible the forgers are passing phony NK money for phony US money.
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