Superdollar Did You Mean Superdollar?

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A superdollar is an almost perfect counterfeit of a United States banknote. The United States government has accused North Korea of distributing them for two reasons: as a source of income and to undermine the US economy. 1

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The notes

The notes are of a very high quality. The US government calls them "highly deceptive". They are made with the highest quality ink and paper, designed to recreate the various security features of United States currency, such as the red and blue security fibers, the security thread, and the watermark. Even experts need to study them for a long time before they notice that they are forgeries. Officially they are known as the PN-14342 family, after the classification system the Secret Service uses.

The US government discovered the counterfeits in the late 1980s. The notes are printed using the intaglio and typographic printing processes.

Several North Korean defectors have confirmed the operation. They say the factory where the notes are printed is located in the city of Pyeongseong. One defector had taken the notes to experts in the South Korean intelligence agency, who didn't believe that they were fakes.

On Friday, October 30, 1998, a petty criminal named Alan Jones was exchanging the forgeries for real notes in a foreign exchange bureau. The police wouldn't have known about them if it weren't for a tip-off. When the police examined the forgeries, they were the best they had ever seen. They then sent some men under cover. They gained the trust of Alan Jones, who told them extensively of the operation.

Distribution method

The notes are spread in two ways:

North Korean diplomats almost all travel through Moscow on their way to other destinations. At the North Korean embassy they receive dollars for their expenses. The forgeries are intermingled with real dollars in about a 1 to 1 ratio. Most of the diplomats themselves do not know that they are being given fakes.

The British criminal underworld. The chief of staff of the Official IRA, Seán Garland, was followed and seen travelling to Moscow and visiting the North Korean embassy along with some ex-KGB officers. Sean Garland would then, with the help of some associate couriers, move this money to Dublin and Birmingham where the notes would be exchanged for pounds or authentic dollars 2.

Through the years, the alleged source of the supernote has changed. In 2002 some layed the blame on Iraq - "The Bekaa Valley has become one of the main distribution sources, if not production points, of the "supernote" - counterfeit US currency so well done that it is impossible to detect." www.israeleconomy.org/strat1.htm

Russia, China and Iran have also been named as suspects during the past 15 years.

Alternate meaning

The term 'superdollar' is also used to refer to a period of extreme U.S. dollar strength relative to other currencies, particularly in the 1980s. This period ended when the G-7 countries, concerned about the U.S. trade deficit and the resulting protectionism, agreed to cooperate in the devaluation of the dollar in the Plaza Accord.

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The notes

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