Search Results for: supernotes

November 19, 2009

Somali Pirates Hijack North Korean-Crewed Ship (Updated Below)

North Korea’s notoriously rickety freighters must be as enticing to Somali pirates as my 1979 Impala with the red clear tape over the left taillight lens was to Rapid City, South Dakota’s finest. As recently as May, the South Korean Navy thwarted a pirate attack on a North Korean ship. The pirates, now said to be under the charismatic leadership of a fat white kid, are trying to rebound from more aggressive international enforcement efforts with a spate of new...

Categories Abductions
August 14, 2009

How Kim Jong Il Got Away With Counterfeiting Our Money

Having finally found time to read all of David Rose’s excellent Vanity Fair piece on North Korea’s supernote counterfeiting operation, I agree absolutely with Richardson and Curtis; it’s an excellent piece of journalism. For a fuller understanding, it should be read in the context of two others. Stephen Mihm’s New York Times report explained how North Korea assembled Intaglio printing presses and optically variable ink from the same Swiss manufacturer that supplies them to the U.S. Bureau of Engraving and...

Categories Counterfeiting/Money Laundering/Sanctions
June 28, 2009

A North Korean Connection to Those Counterfeit Bonds?

It’s very short on specifics, but it’s the first published report affirmatively linking those fake bonds to North Korea: An Italian newspaper reports a recent mysterious case involving US$134.5 billion worth of counterfeit bonds has a North Korea connection. Earlier this month two Japanese nationals were caught in Italy allegedly trying to smuggle the bonds into Switzerland. Il Messaggero says the fake bonds may have been manufactured in North Korea since the two men are North Korean agents and are...

Categories Counterfeiting/Money Laundering/NK Crime/Sanctions
June 5, 2009

Obama Gears Up for “Plan B;” John Kerry Blocks Terror Re-Listing

I really don’t know what to make of this.  A young, inexperienced president, one whom the North Koreans arguably endorsed, comes into office showing every sign of being easier meat than Lance Bass in Riker’s Island.  The North Koreans, true to Joe Biden’s prophetic gaffe, and with their exquisite sensitivity to American weakness, don’t even let the man get inaugurated before they begin the noisy repudiation of every agreed framework, U.N. resolution, and armistice they can stuff into a shredder....

Categories "United" Nations/China/Counterfeiting/Money Laundering/NK Crime/NK Economics/Proliferation/Sanctions/U.S. Politics
June 3, 2009

Must Read: New Details Leaked on North Korea’s Counterfeiting

Say it with me: thank goodness Christopher Hill got the North Koreans promise never, ever to counterfeit our currency ever again — cross my heart and hope to be executed before a crowd of bused-in schoolchildren! A North Korean general who is a confidant of the country’s leader, Kim Jong-il, has been identified by U.S. and foreign intelligence agencies as a key figure in the covert production and distribution of high-quality counterfeit $100 bills called supernotes, according to documents and...

Categories Counterfeiting/Kremlinology/Media Criticism/Money Laundering/Sanctions
March 20, 2009

20 March 2009

WHEREVER THEY ARE NOW, LAURA LING AND EUNA LEE are having a rough day, and that’s about all we know for certain. Although it’s not much more than speculation, the L.A. Times’s Barbara Demick suggests that Ling and Lee might have strayed into North Korean territory. Underground railroad hero Chun Ki Won doesn’t think the North Koreans would have crossed into China: “They must have gone in too close, where it was dangerous. I don’t think the North Koreans would...

Categories Anju Links
October 8, 2008

Lee’s N. Korea Policy Will Be, as Lee Says, ‘Pragmatic.’

Suzanne Scholte has accepted the Seoul Peace Prize, offering this prescient comment in her speech: “When all the atrocities committed by North Korean dictators are exposed in the future, people will assess how adequately the Seoul government then responded,” said Scholte, referring to the current administration. “Consider the judgment of history.”  [Chosun Ilbo] I’m hoping to have a guest post from a reader who was there.  Warning:  this post will now enter a stream of consciousness. You can already see...

Categories Activism/Human Rights/U.S. & Korea/U.S. Politics
April 2, 2008

Treasury: North Korea Still Counterfeiting, Still a Financial Pariah

The State Department and Bill Richardson  may harbor illusions to the contrary, but Stuart Levey, Treasury’s Under Secretary for Terrorism and Financial Intelligence may be only man in Washington with real influence  over Pyongyang.  Yesterday, Levey  appeared before the Senate Finance Committee to testify.  A reader (thank you) forwarded me a copy of his testimony, and I excerpt the North Korea portion for you here.  The key points  here are that (a) North Korea continues to be an international financial...

Categories Counterfeiting/Money Laundering/NK Crime
January 25, 2008

Kevin G. Hall’s Counterfeit Journalism (Updated)

[Update 28 Jan 08:   I’m going to keep flogging this story until I’ve corrected the record.  A reader (thank you)  directs me to this Bloomberg story by none other than Bradley K. Martin and Hideko Takayama.  This one is second only to Steven Mihm’s  for  the quality of its  investigative reporting.  If you’ve read Martin’s book, you’ll  already know  that he’s no neocon collapsist, to say the least.    Takayama and Martin interviewed Yoshihide Matsumura, “whose Matsumura Technology Co....

Categories Counterfeiting/Media Criticism/Money Laundering
January 1, 2008

2007: A Lost Year

[Update 2 Jan 08: “North Korea failed to fulfill its October promise to declare all its nuclear programs by the end of 2007 — and the United States did not make a big deal out of it.” — WaPo, Blaine Harden] SO ENDS THE YEAR 2007, with this terse statement from the State Department spokesman: In September 2005, the United States, China, Russia, Japan and South Korea agreed on a Joint Statement with North Korea that charted the way forward...

Categories Appeasement/Proliferation/Six-Party Talks
December 12, 2007

Senate resolution would set conditions for de-listing North Korea as a terror sponsor

I knew this was coming but was asked not to write about it. But now, I see that Richardson has a link to a Yonhap story about it. Now that it’s out, I’ll speak out of school for a moment and say that I suggested a couple of the provisions that made it into the resolution, although I’d rather not say which ones. The sponsor is Sam Brownback, who having dropped his presidential bid, is back to doing what earned...

Categories Appeasement/Diplomacy/U.S. Politics
July 13, 2007

Law Enforcement Will Be Compromised, Part 2

Law enforcement will not be compromised. ““ Chris Hill, Feb. 27, 2007 [Update: Welcome Wall Street Journal readers.] The latest refutation of this whopper of diplomatic mendacity is an extensive new investigative report on North Korea’s criminal enterprises from Time (thanks to a reader for forwarding). The report suggests that our State Department’s incomprehensible decision to return $25 million of Kim Jong Il’s criminally derived funds, now under GAO investigation as a possible violation of our own money laundering laws,...

Categories Appeasement/Money Laundering/Six-Party Talks
June 10, 2007

State: N. Korea Spent UN Funds to Buy Property in France, Britain, Canada

The UN has released the results of a preliminary audit report on the UN Development Program’s operations in North Korea.  Those operations were shut down  following revelations that the UN gave the  regime  cash with few conditions and little accountability, and essentially became its “ATM machine.”  Among the juicy revelations is that the UN  was keeping a large sum of counterfeit “supernotes” in a UN safe.  The UN now concedes that the UNDP violated UN rules: A statement by UN...

Categories Uncategorized
May 22, 2007

Anju Links for 22 May 2007

*   Freedom House has released an extensive new report on North Korea’s concentration camps.  The author is David Hawk, who wrote “The Hidden Gulag.” *   John Bolton is leading the charge against Agreed Framework 2.0, and his latest effort is this piece at OpinionJournal.com.  He doesn’t quite accuse Chris Hill of conspiring to launder money — I did — but he does a good job of explain our  dizzying series  of  retreats on the Banco Delta issue.  Thanks...

Categories Anju Links
April 12, 2007

Law Enforcement Will Be Compromised

Correction: I subsequently found the transcript for the February 27, 2007 hearing, and Chris Hill did not say, quote, “Law enforcement will not be compromised.” On reading the full quote, you’ll probably agree that Hill found another way of saying the same thing; however, I regret the error, which was no doubt due to me scribbling notes of the hearing by hand, and transposing Rep. Royce’s question with Hill’s answer. Here’s the correct quote from Hill: Ambassador HILL. Mr. Congressman,...

Categories Appeasement/China & Korea/Counterfeiting/Money Laundering
April 5, 2007

Anju Links for 4/5

The New York Sun has more on the “supernotes” found at U.N. Headquarters  and the investigation that follows. It looks like North Korea will fail to meet the April 13 deadline to shut down its reactor at Yongbyon.  Chris Hill is still  saying he’s “confident” that North Korea can meet it, meaning that he still expects them to.  The Chinese are not so optimistic. Our capitulations strengthen our enemies.  Roh’s popularity rises following a the signing of an FTA that...

Categories Uncategorized
March 13, 2007

Breaking the Bank in Macau

[Updates: You can read Treasury’s final rule here. Start on page 14 to read just what Banco Delta failed to do to Treasury’s satisfaction. The message for North Korea’s other bankers out there is clear: ask obvious questions. Among BDA’s practices, according to the rule, was to provide a discount for a “high-risk North Korean-related bulk currency depositor” they either knew, or should have known, was laundering money. BDA obfuscated about reforms, failed to change its corrupt management, and didn’t...

Categories China/Counterfeiting/Democracy/Money Laundering
February 28, 2007

Chris Hill Testifies at the International Relations Foreign Affairs Committee

Headlines now, details later: Hill was firm that North Korea had purchased items that had no other use but highly enriched uranium. He said that a failure to resolve the HEU issue would be a deal-breaker. Committee members of both parties also seemed to believe that North Korea must come clean on HEU. Hill left open the possibility that North Korea will still be denying the existence of its HEU program 60 days from now without breaking the deal. He...

Categories Diplomacy/Six-Party Talks/Washington Views