Block (1976) makes the case that while counterfeiting legitimate money (e.g., gold) should indeed be considered a crime, the creation of fake, fraudulent copies of money that is itself fake and fraudulent (fiat currency) should not be characterized as illicit behavior. Rather, as in stealing from a thief (which, logically, cannot be done; one can only liberate the crook's ill gotten gains), the same applies to the present case. If A is the victim of the initial counterfeiting, and B (the bank, and/or the government) is the guilty party, responsible for the first, and illegitimate, episode of counterfeiting, then when C (the counterfeiter) counterfeits the counterfeit money improperly created by B, C is innocent of any wrongdoing.
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