Comment It's not about counterfeiting (Score 1) 441
Don't believe that it is a measure to stop counterfeits. The majority of the world's counterfeit notes come from North Korea, Iran and Colombia. They can keep up with the technology. The days of some retired printer making bills in his basement are mostly gone. Counterfeit is a miniscule per cent of the world economy. What governments are more interested in is the underground cash economy. Large segments of society works off the books.This means they don't pay taxes. These tags make it easier to track the flow of money. The tags can be read by portable readers smaller than a paperback. These tags are the same kind that are appearing in credit cards. In a recent report a guy walking within a few feet of people on the street was able to read their credit cards.... including account numbers. Now they will also know how much cash and where it came from. Anyone think these readers aren't going to soon be at the entrance to every government building? Good news is that you can already by a sleeve for your cards that blocks the signal. I guess now someone will market blocking wallets.