Sorry!! The article you are trying to read is not available now.
HOT TAGS:  

US Government Printing Machines Refuse to Print More Money

Print comment Post Comments
CASH ISN'T KING
DailyFeed
The new series of $100 bills set to be released in February has hit a snag.



It turns out that the anti-counterfeiting security features included in the redesign are giving the machines used to print the bills a bit of trouble.

CNBC reports that "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 uninked portion of the bill face."

The total value of the unusable cash is estimated to be $110 billion, which is being quarantined at vaults in Forth Worth, TX and Washington, D.C. The money, which is worthless (insert fiat currency gag here), cost about $120 million to print, at 12 cents per bill.

On the bright side, we now know exactly what 100 USD is actually worth.
POSITION:  No positions in stocks mentioned.
TAGS:  TREASURY, GEITHNER, PRINTING MONEY, $100 BILL    SOURCE:   CNBC

TICKERS