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Dec 6 - Government Prints $110,000,000,000 unusable money and hides it


 Dec 6 - Government Prints $110,000,000,000 unusable money and hides it
topic by ngoogs - 12-06-2010, 08:17 PM - Boxden > BX Daily Bugle - news and headlines


The government announced its new high-tech design for $100 bills in April with much hoopla, including an epic YouTube trailer. But there's been a small glitch since then: $110 billion of them have been printed incorrectly.

The Treasury's trailer from April announcing the new bill, above, shows off its high-tech security features, such as "a 3-D security strip and a color-shifting image of a bell designed to foil counterfeiters." These exotic features caused some problems with the first batches of printing, as the government discovered after a mere $110 billion worth had been created:

At the time, officials announced the new bills would incorporate sophisticated high-tech security features, including a 3-D security strip and a color-shifting image of a bell designed to foil counterfeiters.
But the production process is so complex, it has instead foiled the government printers tasked with producing billions of the new notes.
An official familiar with the situation told CNBC that 1.1 billion of the new bills have been printed, but they are unusable because of a creasing problem in which paper folds over during production, revealing a blank unlinked portion of the bill face.
A second person familiar with the situation said that at the height of the problem, as many as 30 percent of the bills rolling off the printing press included the flaw, leading to the production shut down.
The bills have been quarantined in "huge vaults" in Texas and Washington, according to the government. Also possible: The money is perfectly fine and the government just gave it to big banks or something.

via Gawker


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25 comments for "Dec 6 - Government Prints $110,000,000,000 unusable money and hides it"


 12-06-2010, 08:17 PMaway - #2
ngoogs 4 heat pts

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I don't trust the government to let it stay there. Destroy the misprinted bills. By the way, anyone have any insight on if these bills would be legal tender? If i SOMEHOW came across one could I buy stuff with it?
 12-06-2010, 08:38 PMaway - #3
Freemind 41 heat pts41

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yeah.... why not instantly burn them

instead of leaving em to set somewhere and havin some crooked a$s douche jack em down the road.
 12-06-2010, 08:51 PMaway - #4
Mike Nitty 6 heat pts

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Good ole US of Fukn A
 12-06-2010, 09:00 PMaway - #5
daffy_1 17 heat pts17

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its going straight to the federal reserve
 12-06-2010, 09:07 PMaway - #6
davilla24c 5 heat pts

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120 Million dollars to print 110 billion makes complete sense
 12-06-2010, 09:15 PMaway - #7
Got Cheeve? 90 heat pts90

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!! we're out of money... i know! let's print more!!!
 12-06-2010, 09:16 PMaway - #8
killya 17 heat pts17

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good ole USA. Print money right out of thin !!ing air like a magic trick.
 12-06-2010, 10:42 PMaway - #9
meercy|m 

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Originally Posted by Got Cheeve?
!! we're out of money... i know! let's print more!!!
Originally Posted by killya
good ole USA. Print money right out of thin !!ing air like a magic
trick.
of course they can.... b4 they eva get it.. its taxed tho.. so wats da point ?
 12-06-2010, 11:37 PMonline - #10
stogz 7 heat pts

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America can't manufactuer !!. That's why you need to get the same people that make american clothes, shoes, toys, etc... to make american money as well.
 12-07-2010, 12:14 AMonline - #11
Kontrast0 37 heat pts37

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Wastedmoney on maaking useless money. I'm sure there's a pun here
 12-07-2010, 12:14 AMaway - #12
Kuchiki_Byakuya 10 heat pts10

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Originally Posted by stogz
America can't manufactuer !!. That's why you need to get the same people that make american clothes, shoes, toys, etc... to make american money as well.
Whoa whoa whoa hold up there brother... you're not SERIOUSLY suggesting to let Mexico, India and China print U.S. money now are you?
 12-07-2010, 12:29 AMaway - #13
Manny05 

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 12-07-2010, 12:40 AMaway - #14
ngoogs 4 heat pts

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Originally Posted by Sticks
Don't know where your source is from, but title is bull!!.
They are burning it.

brah, you need to check those reading glasses.

PER YOUR SOURCE, "Because of a problem with the presses, the federal government has shut down production of its flashy new $100 bills, and has quarantined more than 1 billion of them -- more than 10 percent of all existing U.S. cash -- in a vault in Fort Worth, Texas, reports CNBC."


No hate, though, we all make mistakes
 12-07-2010, 12:41 AMaway - #15
ngoogs 4 heat pts

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Angry

Originally Posted by Got Cheeve?
!! we're out of money... i know! let's print more!!!
at the government not learning from its mistakes.... ever.
 12-07-2010, 12:51 AMonline - #16
AirForce318 

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at how they let some of the dumbest ppl in the world become high-ranking politician... I'm ashamed to be an American after reading this trash...
 12-07-2010, 02:25 AMaway - #17
Sniggit 10 heat pts10

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The one thing you should be asking is how much did this !! cost? i mean 110bill worth of notes is alot of ink n paper
 12-07-2010, 06:33 AMaway - #18
Crookz 12 heat pts12

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wait the government prints cash?
i thought that was the federal reserve's job
 12-07-2010, 07:03 AMaway - #19
JoeDoe22 41 heat pts41

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You people know that when new bills are printed they are not released until an equal amount has been returned to the treasury to be destroyed right?

From what I understand they aren't hiding anything...they discovered that some bills weren't printed correctly and quarantined all of them for inspection.
 12-07-2010, 07:06 AMaway - #20
JoeDoe22 41 heat pts41

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Originally Posted by ngoogs
brah, you need to check those reading glasses.

PER YOUR SOURCE, "Because of a problem with the presses, the federal government has shut down production of its flashy new $100 bills, and has quarantined more than 1 billion of them -- more than 10 percent of all existing U.S. cash -- in a vault in Fort Worth, Texas, reports CNBC."


No hate, though, we all make mistakes
You didnt read past the first paragraph...

The flawed bills, which cost around $120 million to print, will have to be burned.
 
 


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