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Chinese Gangsters Join In Qe With "fake" £2 Coins

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Police warn Chinese forgery gangs have learned how to make near-perfect £2 coins... and say the crooks are already flooding Europe with similar fakes
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Chinese-based criminals have mastered the ability to manufacture almost perfect bi-metallic coins, stoking fears the £2 coin is vulnerable to a new wave of forgeries.

Can't see what the problem is the BoE has been inventing money out of thin air with QE and now we have Chinese gangs giving a helping hand. Although the Chinese are experts in this field and during the middle ages there was a period where fake currency was held in a higher regard than the real currency of the dynastic courts.

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Police warn Chinese forgery gangs have learned how to make near-perfect £2 coins... and say the crooks are already flooding Europe with similar fakes

005FA4AB00000258-0-image-m-22_1419420219

Chinese-based criminals have mastered the ability to manufacture almost perfect bi-metallic coins, stoking fears the £2 coin is vulnerable to a new wave of forgeries.

Can't see what the problem is the BoE has been inventing money out of thin air with QE and now we have Chinese gangs giving a helping hand. Although the Chinese are experts in this field and during the middle ages there was a period where fake currency was held in a higher regard than the real currency of the dynastic courts.

Can you provide a link to evidence this claim? Am interested to find out more.

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I can't imagine they are too concerned with fake coins, how long did it take them to change the £1 coin for instance.

I would much prefer a cashless open ledger system, perhaps triple entry book-keeping. would stop money printing, inflation and central back criminality. if only such a currency existed.

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Introduce notes for all denominations and include codes or RFID chips that have to be read by the POS system and verified to the BoE before they can be accepted? Be a problem if the Intertubes were down of course.

*in before the conspiraloons/TFHers start complaining about being tracked by your spending, government have too much information, loss of personal info, etc*

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Of course bitcoin solves a lot of problems of double-spend.

I personally believe the technology is there to keep track of the money supply, right down to individual coins. But this would also mean clear accountability. which central bankers do not want.

having billions pumped into the economy is great as far as they care fake or not. but what would happen with all the private banks creating money out of nothing? They would be given ability to issue their own notes and chips?

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Can you provide a link to evidence this claim? Am interested to find out more.

http://www.amazon.co.uk/Fountain-Fortune-Monetary-Policy-1000-1700/dp/0520204085/ref=sr_1_1?ie=UTF8&qid=1419442504&sr=8-1&keywords=richard+von+glahn

Fountain of Fortune: Money and Monetary Policy in China, 1000-1700

Not a cheap book to buy, even 2nd hand, but this is where I read it. I found it startling that fake currency could be valued more highly than official currency.

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We shipped all the factories to China - you give people the tools, then of course making these coins would be child's play.

Dr Evil wouldn't demand a gagillion dollars - only a few hundred million - enough to buy a factory and print unlimited money.

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A double benefit to the UK economy - helping GDP with the extra money plus the contribution to GDP of the gangsters' UK business operations.

Edited by billybong

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I 'suspect' you could pick the up from the silk road 2/3, agora or other online Dark Markets for less that 50p each.

According to French TV you can buy near perfect euros notes on the dark net. A ten euro note costs 1 euro. Notes have the watermark and hologram.

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Three men and a boy have been charged with conspiracy to defraud after counterfeit euros worth more than £2m were seized by police.

There's no way they were going to be allowed to set up in competition.

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