joshedwards.com » Treasury http://joshedwards.com Tue, 30 Apr 2013 10:15:16 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Cash Problems http://joshedwards.com/2010/12/07/cash-problems/ http://joshedwards.com/2010/12/07/cash-problems/#comments Tue, 07 Dec 2010 10:00:05 +0000 Josh http://joshedwards.com/?p=1483 Uh-oh. Looks like the government has designed the new $100 bills to be too fancy: “The Fed Has a $110 Billion Problem with New Benjamins.”

Key quotes:

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.

The total face value of the unusable bills, $110 billion, represents more than ten percent of the entire supply of US currency on the planet, which a government source said is $930 billion in banknotes.

I like to think that the Treasury has created the world’s most counterfeit-proof bill, since 30% of the legit bills are coming out wrong.

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