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There’s also the possibility that although other regimes were counterfeiting the greenback through the Cold War, Americans weren’t affected (due to the high dem
by nunb 6y ago
There’s also the possibility that although other regimes were counterfeiting the greenback through the Cold War, Americans weren’t affected (due to the high demand for the greenback) and couldn’t do much about state actors like DPRK anyway. Modern USD notes are far more difficult to copy. Without bulk-counterfeiting or debasement by the Fed, Americans would have the same problems as the Swiss did when the Swiss Franc briefly became a safe haven reserve in the 2010 era.
And as sandworm alludes to down thread, Americans (USG) extended full faith and credit to all notes, whether old new or counterfeit, so that faith in the dollar would never come into doubt.
- greedo 6y agoThe US does not extend credit to counterfeit notes...