Get rich quick scheme of the day: Travel back in time to 2005 with sacks full of Benjamins, exchange them for renminbi, and presto-money-changeo, you're rich! "The renminbi (RMB), China's official currency, set a new high for the second day to a ratio of 6.4536 yuan per US dollar on Thursday. It indicates a 22-percent increase after the country launched exchange reforms on July 21, 2005. The ratio was 8.11 yuan per US dollar when the reforms were launched six years ago. China abandoned a decade-old peg to the US dollar by allowing its currency to fluctuate against a basket of currencies on July 21, 2005. The reforms were suspended in a bid to fight the global downturn in 2008. The yuan exchange rate again was pegged to the dollar at a ratio around 6.83 from September 2008. The peg was lifted on June 19, 2010, when the central bank announced further yuan exchange rate formation mechanisms." [China Daily] more ›

Police have succeeded in breaking records for confiscating more counterfeit money than ever before. Since the crackdown was announced in January, over 280 people have been arrested, 190 cases involving counterfeit money have been cracked, and over 1 billion yuan has been confiscated. more ›

The man who posed as the farmer on some of the old renminbi notes is still alive... and he's in Shanghai!
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