Financial Glossary: Counterfeit


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Counterfeit

Counterfeit

Fake, usually referring to phony Currency.

The Secret Service is in charge of investigating counterfeit money in the US and can tell you a lot about its history and what it looks like. A counterfeit is an imitation (often of Currency, documents, or manufactured items) that is made with the intent to deceptively represent its content or origins.

Some of the ill-effects that counterfeit money has on society are reduction in the value of real money ,increase in prices (Inflation) due to more money getting circulated in the economy - an unauthorized artificial increase in the Money Supply, artificial increase in the Money Supply ,decrease in the acceptability (satisfactoriness) of money - payees may demand electronic transfers of real money &Companies are not reimbursed for counterfeits and this forces them to increase prices of commodities .

Posted by EBD Group AG

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