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The value of having an easy-to-store, hard-to-steal, and hard-to-counterfeit medium of exchange is substantial.
Passengers would agree to submit personal information in exchange for a counterfeit-resistant ID card that would grant them exemption from some portion of security, although how much is not clear.
Anyone holding the notes, which Modi has removed from circulation in an attempt to cripple the country's widespread corruption and counterfeit currency problem, now has to exchange them at banks for newly minted ones.
Democrats in Congress have frequently hammered China over counterfeit goods, product safety and its exchange-rate policy.
According to a filing at the U.S. District Court in Newark, N.J., the suspects sold and exchanged stolen information and counterfeit documents such as credit cards, driver's licenses, birth certificates and foreign and domestic passports.
Other hazards include the possibility of being tricked by forgeries, counterfeits, or just losing money on exchange rate fluctuations.
And someone with $1,000 in genuine bills can exchange it for $10,000 in counterfeit ones, he said, then buy cocaine that can be peddled on the street for $30,000 - a 300 percent profit.
But the London-based global foreign exchange company Travelex says that the counterfeit currencies it sees most often are the euro, British pound, Mexican peso, Argentine peso, Peruvian sol and Chinese yuan.
Perhaps we have heard on the radio that counterfeit U.S. one dollar bills have been recently exchanged in our neighborhood.
After all, anything can serve as a medium of exchange, as long as it's scarce gold, counterfeit-proof paper, cigarettes, tins of anchovies, giant stone heads provided that we all agree on it.
