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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on December 07, 2010, 06:16:30 AM
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The $100bn blunder: Fed forced to 'quarantine' one billion $100 bills after printing error...
Daily Mail ^ | 7th December 2010
A printing problem with the new high-tech $100 bills has forced government printers to shut down production - and to quarantine more than one billion of the notes. The flawed notes represent more than ten per cent of the U.S. currently on the entire planet.
They are being stored in giant vaults at Fort Worth in Texas and in Washington, DC, as the Federal Reserve desperately tries to resolve the problem.
Meanwhile printers have begun reprinting the old $100 notes - without the high-tech security features and still bearing the signature of George W Bush's treasury secretary, Hank Paulson - in order to prevent a cash flow crisis.
With the holiday shopping season in full swing, authorities are scrambling to do everything they can to keep U.S. cash flowing.
'There is something drastically wrong here,' one source told CNBC. 'The frustration level is off the charts.'
(Excerpt) Read more at dailymail.co.uk ...
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At least there printing and not just crediting big Financial Institutional bank accounts.
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The $100bn blunder: Fed forced to 'quarantine' one billion $100 bills after printing error...
Daily Mail ^ | 7th December 2010
A printing problem with the new high-tech $100 bills has forced government printers to shut down production - and to quarantine more than one billion of the notes. The flawed notes represent more than ten per cent of the U.S. currently on the entire planet.
They are being stored in giant vaults at Fort Worth in Texas and in Washington, DC, as the Federal Reserve desperately tries to resolve the problem.
Meanwhile printers have begun reprinting the old $100 notes - without the high-tech security features and still bearing the signature of George W Bush's treasury secretary, Hank Paulson - in order to prevent a cash flow crisis.
With the holiday shopping season in full swing, authorities are scrambling to do everything they can to keep U.S. cash flowing.
'There is something drastically wrong here,' one source told CNBC. 'The frustration level is off the charts.'
(Excerpt) Read more at dailymail.co.uk ...
This story stinks of BULLSHIT so bad it is not even funny... An error printing money?, then it is stored away as opposed to being burned as is the normal procedure?. One BILLION dollars represents ten percent of americas currency on the entire planet? Hmmmm? I think there is some plan at work to try and deflect the effects of Russia and China dropping the dollar...