The new dollar bill is going to have the face of a rodeo clown.
Posted on 08/16/2013 2:48:36 AM PDT by TexGrill
The US is approaching the release date of its new $100 bills, but the Bureau of Engraving and Printing is facing an embarrassing problem: 30 million bills were incorrectly printed, and fixing them will cost taxpayers an estimated $3.79 million.
The new $100 bills were designed to reduce counterfeiting, and were initially scheduled to be released in 2010. But that summer, the Bureau of Engraving and Printing noticed that the bills were being produced with a blank sliver, due to a fold in the paper. The release date was therefore pushed back to 2011, and again pushed back to Oct. 2013.
But additional printing problems could once again delay the release of the “Benjamins”.
The new $100 bills are designed to contain a Liberty Bell that changes its color, 3-D images that move when the bill is tilted, and a hidden message on the collar of Benjamin Franklin, one of the Founding Fathers. Two currency factories are responsible for printing all US bills.
But the Washington, D.C. factory produced “clearly unacceptable” versions of the $100 bills, according to a July memo that the New Yorker obtained from the bureau. Recent batches that came from the factory were “mashed”, which means they were produced with too much ink and the lines are not as crisp as they should be. The New Yorker compared it to a kid trying “to carefully color inside the lines – using watercolors and a fat paintbrush.”
Once these bills were delivered to the Federal Reserve, they were rejected. Officials have sent back about 30 million of them, and refuse to accept any more bills from the Washington, D.C. factory.
(Excerpt) Read more at rt.com ...
Funny Money from the feds!
They ought to use it anyway. By the time Obama gets done it won’t be worth anything. In fact, it’s not worth much now.
They should just issue them. Good, bad, or indifferent, it’s all counterfeit money anyway.
These bills are just chump change for the chimps out there. The real bidness is the $85 Billion Dollars a month the Federal Reserve creates in electronic scrip to buy T-Bills and to dump in the stock market.
If the Fed were to conclusively announce they will stop the dumping of electronic scrip into the stock market (about half of the $85B/month) it would crash substantially. So would the credit rating because of worthless T-bills not being bought.
The government will lie, cheat and steal to fantastic levels to keep the real financial picture of this country from being known. There are trillions upon trillions of liabilities that won’t go away (SS, Medicare, Medicaid, SSI, DI). Couple that with the secret liabilities (actual debt) the Fed is likely carrying with this ‘creation’ of money each month, and you would have a full-blown financial disaster. But....the big But....you’ll not see a comprehensive open audit of the Federal Reserve, at least not during Obama’s tenure.
Scrip, fiat money, chits, ration stamps, etc..
Until the bills are put into circulation they have no value.
It is a (costly) mistake, but considering that the bills represent $300 million dollars (and only cost a few million to create) they have enough “profit” to destroy the bills and start over.
Actually I believe the nation would be better off if the mint would just quit printing new money for awhile.
On another note, maybe they could just subcontract out to the Chinese as I understand they are quite good and creating US currency.
The new dollar bill is going to have the face of a rodeo clown.
Never heard of QC?
They should subcontract out to the North Koreans, who seem to have better skill at producing the $100 than these idiots.
“Once these bills were delivered to the Federal Reserve, they were rejected. Officials have sent back about 30 million of them, and refuse to accept any more bills from the Washington, D.C. factory.”
Hey how about some operational advice: Check twice, print once
This shows the utter incompetence of those now employed at the printing facility. They’re not printing flyers for a missing cat, they’re printing currency. You’d think someone in the facility might do a little QA, but I guess things have changed in this country. Who is John Galt.
After Jimmah Cahtah got done with us, a $100 bill was worth $25...
The Fed will buy them!
I agree. People will snatch them up for their collector value.
And here I always thought that printing money was the ONE thing that the government could do well!
Must be a bunch of Affirmative Action hires working for the Fed.
SO! That's why the ten one hundred bills that got washed in my jeans came out blank white pieces of paper...I'm pissed!
FMCDH(BITS)
Or the Iranians.
They’ve finally made the counterfeit proof bill, it’s so complicated they can’t even print it legally.
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