FED can't even print money right

Discussion in 'Wall St. News' started by pupu, Dec 6, 2010.

  1. pupu


    Feds Quarantine $110B in Potentially Defective $100 Bills:

    (Newser) – The new $100 bills were designed to thwart counterfeiters—but instead, the complex process required to create the high-tech bills has thwarted printers, resulting in $110 billion in currently unusable bills. The new hundreds, planned for roll-out in February, include a 3D security strip and color-shifting bell image—and producing them is so tricky that as many as 30% of those printed so far creased down the face during the process, resulting in a blank area, sources tell CNBC.

    The government shut down production and quarantined the 1.1 billion printed so far—which amounts to more than 10% of all US currency on the planet. Officials must now create a mechanized system to determine which bills include the flaw—doing so by hand would take between 20 and 30 years, versus about one year by machine. Until the usable bills can be released, the current design will be produced again in order to avoid a shortage. The new bills cost twice as much to produce as a normal bill, a source says, meaning the government spent about $120 million on the defective batch.


    What a complete MESS this country has become! :eek:
  3. AMT4SWA

    Registered: Apr 2002
    Posts: 6138

    New Post 12-06-10 01:50 PM


    Wha a complete MESS this country has become!

  4. Where's the QA -- you'd think they would notice the problem after they printed a few million.
  5. Pekelo


    So which is it? They could just sell it for $5 for collectors with a huge UNUSABLE print over it.

    Or Hollywood could use it when they blow up/burn money.

    Oh yes, they could also use it for bribing Nigerian officials.Or for wallpaper... Man, I am on a roll.....
  6. the government spent about $120 million on the defective batch.

    If I made a FUBAR of 120million with my company, I would be outa business. If I were to miss calculate the project numbers and fall short raising 120 million by the deadline...I would have no company.

    And you wonder why the GOV is fucked up.

    Lean Six Sigma? Instead of you the idiots in MBA school learning to apply such to "managment". Maybe, the US GOV should have applied Lean Six Sigma to what is was designed for...."MANUFACTURING LINES"!!!!!!!

    Besides, the GOV spend "Our" 120million.

    Who gives a fuck. I'm stacking cash, kick'n ass, and building networth during one of the worst Depression's in History. It's every capitalist for him/her self. This is just one example of the demise of this country. We will have plenty of more as this "Recession" gets a worse over the next 5 years. Ohh, I mean better as the Stock market is over 11000...lol

    Maybe a revolution? Na, the American People do not have the resolve for such.
  7. Did you notice that Bernanke was on sixty minutes last night.

    They asked him if we should increase taxes on the rich and he wouldn't answer the question. They didn't actually show the part where they asked him the question. They only refered to it during the show.

    None of these tv guys have any guts anymore.:(
  8. Of course he wouldn't answer. Why would you expect a central banker to answer a question on fiscal policy?
  9. yeah, that's a no win situation for Bernanke if he answers that question.
    #10     Dec 6, 2010