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Government canít print money properly
The Lookout News Blog and Yahoo ^ | Mon Dec 6, 9:36 am ET | Zachary Roth

Posted on 12/06/2010 1:54:07 PM PST by hattend

As a metaphor for our troubled economic and financial era -- and the government's stumbling response -- this one's hard to beat. You can't stimulate the economy via the money supply, after all, if you can't print the money correctly.

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

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: benanke; dollars; fed; fubo; government; littletimmy; money; printing; screwup; treasury
Obama's Fault

FUBO

1 posted on 12/06/2010 1:54:10 PM PST by hattend
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To: hattend

Be sure to check out the comments after the article. Some are funny.


2 posted on 12/06/2010 1:55:53 PM PST by hattend (The meaning of the 2010 election was rebuke, reject, and repeal. - Sarah Palin)
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To: hattend

The North Koreans seem to be pretty good at printing Benjamins. Why not pay them to do it for us? (Has anyone in Washington ever heard of a pilot run?)


3 posted on 12/06/2010 1:57:09 PM PST by Lonesome in Massachussets (Socialists are to economics what circle squarers are to math; undaunted by reason or derision.)
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To: hattend

That’s okay.
They can’t spend it properly either................


4 posted on 12/06/2010 1:57:35 PM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: hattend

5 posted on 12/06/2010 1:58:41 PM PST by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: Red Badger

now that’s funny :-)


6 posted on 12/06/2010 1:59:16 PM PST by jackspyder
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To: Red Badger

Good one...

high five!


7 posted on 12/06/2010 2:02:22 PM PST by hattend (The meaning of the 2010 election was rebuke, reject, and repeal. - Sarah Palin)
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To: hattend

Did anyone notice that they were attempting to print ONE BILLION $100 bills?

Keynes:
The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens...and does it in a manner which not one man in a million is able to diagnose.


8 posted on 12/06/2010 2:03:17 PM PST by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: hattend

Only a government agency is allowed to do full production run without running a test batch for Q/C.


9 posted on 12/06/2010 2:03:38 PM PST by Deaf Smith (When a Texan takes his chances, chances will be taken that's for sure.)
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To: hattend

If a fiat currency note is not in circulation, is it actual money?


10 posted on 12/06/2010 2:03:48 PM PST by SES1066 (Thank you for your vote in November, now let us get to work!)
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To: hattend
It would take an estimated 20 to 30 years to weed out the defective bills by hand...

Out of purely altruistic, patriotic motives, I volunteer to begin this horrendous task. I'll even work out of my own home.

11 posted on 12/06/2010 2:05:16 PM PST by T Minus Four (Duh. We were talking about in the old days or not-so-distant old days)
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To: MrB

12 posted on 12/06/2010 2:07:03 PM PST by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: Red Badger

Why would you want 1.1 billion $100 bills at Fort Knox?

That’s a good question. How about to stave off runs on local banks? This is just a contingency plan, but it makes me a bit uncomfortable. What do THEY think the probability is?


13 posted on 12/06/2010 2:10:29 PM PST by BillM
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To: hattend

Turn the mis-printed money into ethanol! LOL.


14 posted on 12/06/2010 2:11:00 PM PST by 2harddrive
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To: WOBBLY BOB

Call North Korea, they have been doing a great job of copying the current $100.00 Bill. In fact so good that we had to go back to the drawing board, and come up with this new one.Go ahead and turn them loose, the blank ones will make great collectors items, and Korea won’t want to copy them... Start the presses.


15 posted on 12/06/2010 2:12:44 PM PST by BooBoo1000 (" Let go, and Let God")
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To: hattend
The administration that can't even cheat properly.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

16 posted on 12/06/2010 2:13:44 PM PST by The Comedian (Government: Saving people from freedom since time immemorial.)
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To: WOBBLY BOB
And, in related news, British design firm seeks to rebrand American currency with Obama on dollar bill...
17 posted on 12/06/2010 2:14:44 PM PST by C210N (0bama, Making the US safe for Global Marxism)
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To: hattend

Maybe we can subcontract printing to North Korea?


18 posted on 12/06/2010 2:19:53 PM PST by null and void (We are now in day 684 of our national holiday from reality. - 0bama really isn't one of US.)
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To: C210N

Hell, put him on the trillion dollar bill. You’ll need a wheel barrow full of them to get a loaf of bread.

He’s the American Mugabe... well, if he is American...uh...


19 posted on 12/06/2010 2:21:28 PM PST by hattend (The meaning of the 2010 election was rebuke, reject, and repeal. - Sarah Palin)
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To: T Minus Four
"Out of purely altruistic, patriotic motives, I volunteer to begin this horrendous task. I'll even work out of my own home."

I am stunned by your generous offer. What noble selflessness. :)
20 posted on 12/06/2010 2:24:05 PM PST by Redhd2
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To: SES1066

Since nobody would know the difference between a fiat $20 dollar note in circulation and one of these fiat $20 dollar notes held in the warehouse, I would say they would have identical value.

The real question is: is a federal reserve note (ie fiat money, backed by nothing), the same as a real US dollar? It’s considered “legal tender”, an instrument of monetary value. It used to be like a government-backed, standardized check, that you could turn in and get a real silver dollar or real gold dollar. Now you can’t.

I think the answer is that once we went off the gold standard, what “the US dollar” actually was, really became nothing. It became this thing hazy, nebulous thing called “confidence”. We had a defined standard but we dropped that standard. Now we have no standard. We kind of developed a petrodollar standard, where we sort of derived it’s value from how much oil it could buy us (ie dollars per barrel) but that is not a set standard. It made the dollar a global currency of choice but again, it’s still based in ‘confidence’ and not anything of tangible, intrinsic worth. And now most places want to use a different standard than petrodollars. And probably will. Which will (and is) affecting the nebulous “confidence” the dollar’s worth is now based on.


21 posted on 12/06/2010 2:25:33 PM PST by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: hattend

So, let me try to understand. In tough times, the government decides to “print more money”. The order goes out, and the print shop gears up and runs off the bills, then stacks them on palettes ready to ship.....and then what happens?


22 posted on 12/06/2010 2:31:27 PM PST by CanaGuy (Go Harper! We still love you!)
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To: CanaGuy
.....and then what happens?

FUBO happens

23 posted on 12/06/2010 2:33:45 PM PST by hattend (The meaning of the 2010 election was rebuke, reject, and repeal. - Sarah Palin)
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To: hattend
Hell, put him on the trillion dollar bill.

I'd rather not, it would mean looking at his mug every minute of the day if his likeness were on the most common trillion dollar bill, rather than what will become the forgotten single dollar bill.

24 posted on 12/06/2010 2:34:32 PM PST by C210N (0bama, Making the US safe for Global Marxism)
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To: hattend

The machine must be getting extremely worn out.


25 posted on 12/06/2010 2:49:51 PM PST by castlegreyskull
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To: MrB

On 60 Minutes last night, Bernanke swore that the USA is NOT printing more money.

MORE LIES!!!!!!


26 posted on 12/06/2010 2:56:55 PM PST by ridesthemiles
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To: BooBoo1000

The 1st bills with TurboTax Timmy’s name on them ,too.

Timmy is deeply saddened.


27 posted on 12/06/2010 3:07:24 PM PST by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: hattend
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

What would Willie Sutton do?

28 posted on 12/06/2010 3:17:09 PM PST by Paleo Conservative
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To: WOBBLY BOB

O is making it rain... he must have learned from Pac Man Jones.


29 posted on 12/06/2010 3:38:09 PM PST by Trajan88 (www.bullittclub.com)
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To: The Comedian
I could save them a small fortune in paper and ink .. the answer is slightly larger denominations...


30 posted on 12/06/2010 3:41:49 PM PST by Neidermeyer
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To: WOBBLY BOB; All

Yes, but did anyone notice that they are REPRINTING the old bills with HENRY PAULSON’S SIGNATURE???

Seriously, would Obama’s eligibility have anything to do with that not being “legal tender?”


31 posted on 12/06/2010 7:14:28 PM PST by autumnraine (America how long will you be so deaf and dumb to the chariot wheels carrying you to the guillotine?)
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To: BillM
Why would you want 1.1 billion $100 bills at Fort Knox?

Buy votes....................

32 posted on 12/07/2010 5:27:35 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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