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A “financial scandal” .. dollars that are “acceptable” in one country and “rejected” in another ... are sold for half their price!


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A “financial scandal” .. dollars that are “acceptable” in one country and “rejected” in another ... are sold for half their price!

2020-09-09
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Yes Iraq - Follow-up

"We ask everyone to pay attention." With this address, users of social media, especially via WhatsApp, circulate a post warning about "dollars in the market entered from Syria, which are not valid in Lebanon." Legitimate dollars, but they do not pass through machines and banks, and are sometimes sold at half the price, "noting that" every currency carries a forged MB number. "

However, "this publication is financially and practically untrue, as it contains inaccuracies and false and misleading information," according to an informed financial expert.

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The facts: Hours ago, this post was circulating in pages and accounts on social media (such as here, here, here, here, here ...), and also via WhatsApp. It includes the following allegations (without intervention or correction): “We ask everyone to pay attention: There are dollars in the market that were brought in from Syria and they are not suitable in Lebanon. Legitimate dollars, but they do not pass through machines and banks, sometimes being sold for half the price. Attention, those who buy such dollars. Each coin has a forged MB number .. Please note.

Audit:

1 - In response to the publication's allegations that “there are dollars in the market that were brought in from Syria that are not suitable in Lebanon, legitimate dollars but they do not pass through machines and banks, and are sometimes sold at half the price,” an informed financial expert says according to Lebanese media that: “The dollar is a dollar, Whether in Lebanon, or Syria, or the United States, or Britain, or anywhere else in the world. The good dollar (that is, not counterfeited) maintains its value, in any country.

And he adds: “There is no sense whatsoever to what the publication claims that the dollars that are entered from Syria lose their value, or that they are not valid in Lebanon, or that they are sold at half their value. This statement is wrong ”.

And while explaining that "talking about good dollars excludes money laundering, which is a big problem, especially in these circumstances in the country," he says, "If the dollars are counterfeit, meaning that their serial numbers have been falsified, the matter is different of course." No one can deal with it in this case.

He points out, "It is not strange that there are counterfeit dollars in the market. This matter is not new in Lebanon, and we have repeatedly witnessed the arrest of its promoters.

2- In response to the publication's allegations that “every bank note carries a serial number that begins with a forged M,” the financial expert says: “These allegations are also untrue.”

He explains: “According to the website of the“ BUREAU OF ENGRAVING AND PRINTING ”, which undertakes the task of developing and producing paper currencies for the United States, the US banknotes of $ 5, 10, 20, 50 and 100 dollars bearing serial numbers starting with M are real banknotes. Released 2013 ″.

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A valid US $ 50 banknote was found, with a serial number beginning with MB:

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Fake Dollars in Lebanon

Seizing counterfeit dollars is not something new in Lebanon. Here are some recent examples:

On September 8, 2020, the National News Agency reported that “the owner of a perfume store in the Al-Shakria district in the Sidon commercial market, filed a lawsuit with the old Sidon police station after falling victim to a fraudulent person through the“ Dollar Market ”account on social media who bought dollars from him to buy goods for his shop. It was later discovered that it was fake. ”

On August 27, 2020, the Internal Security Forces announced that they had "thwarted the process of promoting an amount of fake currency on the Lebanese market and stopped two gang members."

On May 17, 2020, the Internal Security Forces announced the arrest of a man, after he was seized in possession of a fake $ 8,250, who was planning to pump it into the Lebanese market.

On February 13, 2020, the Internal Security Forces announced that they had seized the smuggling of a huge amount of forged dollars at Beirut Airport.

The result: It is true that seizing counterfeit dollars is a common occurrence in Lebanon. However, the allegations contained in the publication about “dollars imported from Syria, which are not suitable in Lebanon ...” are false, misleading allegations.

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The question is who would go to the trouble of counterfeitng IQD. You'd spend way more on the process than it's worth and probably lose money. That's like starting a Mexican Water Business. Bottled from the gentle springs of Mexico. 🤣

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It's easier to counterfeit US currency which means that Iraq put in a lot of effort to protect a currency that isn't worth much at the moment.... but hopefully will be soon! Really soon I hope!

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10 hours ago, Rmc10 said:

It's easier to counterfeit US currency which means that Iraq put in a lot of effort to protect a currency that isn't worth much at the moment.... but hopefully will be soon! Really soon I hope!

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They put a lot of effort, time, and money into protecting a currency that isn't worth much... why would they do that?

 

Answer: Because the current value is not permanent. 

 

:twocents:

 

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