By Yesterday I spotlighted the counterfeiting activities of the North Korean regime and coincidentally enough today comes even more news about the North Korean counterfeiting operations:
The most recent evidence of North Korean trafficking in supernotes surfaced in Pusan, South Korea, in November when police seized about $1 million in supernotes. According to the report, the case “shows that Pyongyang is using South Korea to circulate or launder supernotes.”
Secret Service officials have said that North Korea produced more than $45 million in supernotes in circulation since 1989. The Secret Service, which is in charge of investigating counterfeit currency, has identified 19 variations of the counterfeit $100 bill, which U.S. officials think was produced on North Korea’s intaglio-process offset printing presses.
Ed Donovan, a spokesman for the Secret Service, declined to comment on the new information obtained by The Times.
The report narrowed the source of supernote printing to a plant called the Pyongsong Trademark Printing Factory. The plant is said to be under the control of the operations department of the Korean Workers Party, which is headed by Gen. O. [Washington Times via Leonid Petrov]
ROK Drop readers may remember that General O has been reported before as being the second most powerful man in North Korea and involved in a power struggle in North Korea between the elites and the military. The military has also been linked to the take over of all overseas operations to include counterfeiting and money laundering. Make sure to read the rest of the Washington Times article that discuss where the notes are printed and how members of General O’s family launder the money along with Chinese front companies making purchases of luxury items such as yachts and cars to ship to North Korea.
Does anyone think that these details about North Korea’s recent counterfeiting activity is being leaked to the media in order to set the stage for Treasury Department financial sanctions?
Also make sure to check out the excellent analysis of this issue by One Free Korea.
3:22 pm on June 3rd, 2009 1
Yes, the North Korean counterfeiting story is a leak. The story gets the spot-light onto small-time counterfeiters providing cover for the big counterfeiters: the US Federal Reserve.
Remember, the Federal Reserve is a PRIVATE bank whose shareholders are NOT Americans( these bankers executed a stealth coup d etat in 1913 — illegally usurping the constitutional function of money issuance reserved for the US government). The Federal Reserve MAKES MONEY OUT OF NOTHING – AND THEN LOANS IT WITH INTEREST TO THE US GOVERNMENT. Pretty good work, if you can get it. Source: (http://video.google.com/videoplay?docid=-1656880303867390173)
Apparently the Federal Reserve, having helped North Korea with nuclear technology (Donald Rumsfield as board of directors for the ABB corporation sending light-water reactors to North Korea)and money laundering (See GI Korea's accusation), is now back-stabbing its North Korean cronies.
It's time to cash in. Expect Kim Jung Il to be steadily villianized in the media in the same manner as Saddam Hussein.
The Federal Reserve may be gearing up its private army
(The US and South Korean Military) to snuff out North Korean competition. Before that happens, the Fed wants to sell a few bunker-buster bombs to South Korea. There is a lot of money to be made before it's all over.
5:27 am on April 24th, 2010 2
[...] amass personal power and wealth, while ostensibly swearing allegiance to whichever Kim (or Jang or Oh) is in charge. After North Korea collapses, both Chinese and South Korean [...]