How much money does North Korea counterfeit?
In testimony before the U.S. Senate, the U.S. Secret Service noted that since 1989, the U.S. had seized about $50 million of North Korean counterfeited currency, for a rate of $2.8 million annually. To put that in a comparative context, “the amount seized is comparatively low in contrast to other known counterfeits…investigation into counterfeit currency in Columbia yielded seizures in excess of $380 million.” “Statement of Michael Merritt, Deputy Assistant Director, Office of Investigations, U.S. Secret Service,” before the Senate Committee on Homeland Security and Government Affairs, April 25, 2006. • What is the deal with Banco Delta Asia? There are very few factual details available to the public, and I have no idea what actual information is available to government officials. The Treasury department has not released many details on the actual issue itself. However, there has been some very detailed research that comes to some skeptical conclusions done by the China Matters blog,
