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...also the most easily counterfeited." Of the $350 billion worth of U.S currency in circulation today, anywhere from 50% to 65% is held overseas. In 1980, estimates University of Wisconsin economist Edgar Feige, just 30% of all dollars could be found offshore. No one knows how many fake dollars are traded, but there is no question that powerful new optical scanners and imaging software have generated a substantial amount. In 1992, $30 million worth of counterfeit $ dollars was seized overseas; last year the total hit $120 million, and it is expected to break that record in 1994. Many times that...

Author: /time Magazine | Title: Some Like Them Hot | 11/14/1994 | See Source »

...microeconomic sense, that was also the case recently on Moscow's busy Old Arbat, where currency-exchange dealer Ilya was inspecting what appeared to be a legitimate $100 note. "It's a fake," he said. Turning the bill over, he pointed to the o in United States of America: it was too close to the f. At Kredobank, a privately held Russian bank, a Moscow casino operator recently tried to deposit $10,000 in cash. It wasn't worth the paper it was printed on. Kredobank, like most Russian banks, confiscates forged currency but usually does not report the incident...

Author: /time Magazine | Title: Some Like Them Hot | 11/14/1994 | See Source »

...streets of Shanghai. Even in boomtowns, checks and credit cards are in limited use, and cash careens through the system at an alarming rate. Tracking down the counterfeiters is not easy, says Dai Weiwen, head of the exchange section of the Bank of China, because "our methods of detecting fakes are primitive." In recent months, however, banks have begun to install equipment such as money scanners to ferret out forgeries. The Industrial and Commerical Bank of China even fines employees who fail to detect fake currency...

Author: /time Magazine | Title: Some Like Them Hot | 11/14/1994 | See Source »

What's left to negotiate? A salary cap is in place in the N.B.A., but players and teams seem to be able to fake their way past it with impunity. Take, for example, Anfernee Hardaway's newly renegotiated contract. Most people would! The second-year point guard, who averaged a modest 16 points last year as a rookie, just signed a nine-year contract with the Orlando Magic that will pay him an estimated $70 million. This violates no league edict but sets the stage for trouble ahead. Little wonder that the Magic owners have seen fit to raise ticket...

Author: /time Magazine | Title: A Confederacy of Fools | 10/31/1994 | See Source »

...film's essential episode, the disappearance of the petulant Anna (Lea Massari), occurs within the first hour. A luxury yacht's cargo of listless passengers disembarks on a rocky, semi-deserted island. Anna, moody, beautiful and brown-haired, has recently sent a fake alarm through the party when she cries "shark" in pretend. This act of immature attention-getting sets the scene of her disappearance, which will ultimately become the only certainty in the film, in a context of folly and childish insignificance...

Author: By Sarah C. Dry, | Title: Antonioni's Stark View Reinterpretted | 10/20/1994 | See Source »

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