The Fed Has a $110 Billion Problem with New Benjamins

The Fed Has a $110 Billion Problem with New Benjamins

www.cnbc.com

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. For now, the unusable bills are stored in the vaults in "cash packs" of four bundles of 4,000 each, with each pack containing 16,000 bills.

(visit the link for the full news article)

Why am I laughing so hard. This is 10% of the US currency in circulation locked up in vaults. We can only hope that they can't solve this production problem. Maybe the printing presses have finally become overheated. Officials don’t know exactly what caused the problem. "There is something drastically wrong here," a person familiar with the situation said. "The frustration level is off the charts."
GOOD! It doesn't come anywhere close to matching MY frustration with the Fed.



www.cnbc.com
(visit the link for the full news article)

The defective bills – which could number into the tens of millions, potentially representing billions of dollars in face value – will have to be burned, they say. American taxpayers have already spent an enormous amount of money to print the bills

Wow, good job Fed.

reply to post by matrixportal


ooooooooooppps.

This smells really fishy to me. What they didn't realise there was a pronlem until they had printed a 100 billion dollars? thats 1,000,000,000 individual notes before someone said oops we screwed up?!?

Really?

There must be something fraudulent going on because now they are printing the old version:

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 chairman of the Federal Reserve, Hank Paulson - in order to prevent a cash flow crisis.

Read more: www.dailymail.co.uk...

Who needs lots of old $100 dollar bills in circulation? I'll tell you someone with either a lot of stolen money to launder or someone who has a lot of fakes to launder.

Anyone else got a take on this?

www.dailymail.co.uk< br /> (visit the link for the full news article)

I pulled out all my money except enough to cover checks already written and $50 extra just to be safe. Let's see what happens.

What a perfect way to say:

Oh well, those pesky paper notes aren't any good... let's forget about them, move to 100% digital.

I am sure this is another scam. Another billion will disapper into the pockets of the already filthy rich...and it will be a mystery where it disappeared to. In US money is like a boomerang. They print it and put it somewhere and it bounces right back into their bank accounts. Perhaps that's where the 'magic money' label really comes from, lol!

Originally posted by spacedonk
reply to post by matrixportal

 

ooooooooooppps.

This smells really fishy to me. What they didn't realise there was a pronlem until they had printed a 100 billion dollars? thats 1,000,000,000 individual notes before someone said oops we screwed up?!?

Really?

There must be something fraudulent going on because now they are printing the old version:

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 chairman of the Federal Reserve, Hank Paulson - in order to prevent a cash flow crisis.

Read more: www.dailymail.co.uk...

Who needs lots of old $100 dollar bills in circulation? I'll tell you someone with either a lot of stolen money to launder or someone who has a lot of fakes to launder.

Anyone else got a take on this?

www.dailymail.co.uk< br /> (visit the link for the full news article)

Good thinking on that one. Very interesting!

what i heard on radio news last night/ early in the AM...
was that there is a crease in the paper which does not allow the print process to cover the bills properly.


the only thing i can think of is that there is a manufacture blemish of the paper stock,
which is different than a 'crease' (which can be called a 'fold' in the paper stock)
i've seen instances of blemishes in paper stock used to produce checks and bonds/ documents

what the printers had to do was shred all the blemished stock & send it back to the paper makers

i sure don't think that theres anything unusual going on...whats different this time is that the public is being informed of the faulty Treasury/ Printing Office paper stocks....
(sorta like in the same domain of the 'Tungsten' Gold Bars in another highly secure government facility)


+++++++


RIP Mr (dandy don) Meridith. who passed because of a brain hemorrhage/Aneurism at 72 yrs...
Don was a former pro QB and then a well liked announcer for MNF (monday-nite-football)

Why don't they destroy it? "Quarentine", sure, whatever. Let's all pretend this money isn't going to end up in the hands of terrorist, drug dealers, etc.

Hello?! What happened to the QC(Quality Control)? You mean to tell me they printed that many bills before anyone bothered to check them out! That's pretty dam half a$$ed. So much so that it's ringing my suspicious bells.

according to the link each hundred cost 12 cents to make. so a $100 bill is actually worth 12 cents.

so for me to actually make 20/hr i would have to be paid 166 one hundred dollar bills, which is 16,600 dollars.

i thought this country was built on an honest days wage for an honest days work. i smell a breach of contract lawsuit coming against the american government and the crooked federal reserve which is making a $99.88 profit on each hundred dollar bill it sells to the government.

I highly doubt this was a mistake. If there was an error in the printing they would have caught it early on. They have cameras check the bills for defects as they are printed. The Money making process is very long to ensure no mistakes are printed. It why misprinted/misstamped coins are worth so much, because it almost NEVER happens. Also, why store them? Is there any reason to store 100 billion bucks of unusable bills, I dont think so.

I think these bills were created to fund some black ops operation. Or possibly it is a savings account of sorts for a future war or something.

Either way I would love to know what the mistake was. Maybe it was a typo that they only caught at the end.

Hmm, 10% of US currency out of circulation and a bank run predicted??

Maybe they wish to hold back some cash??

It's a simple answer to your questions really. All the Fed is doing is merely setting a few dollars into their 'Foundation X' fund. The only people, or organization, that I can realistically see having more money than the entire world, would be the people in control of making the money. For a prime example: "So we accidentally screwed up a hundred and ten billion dollars" Who's going to account to even make sure that money is really there and isn't just some made up fictional story? My money's on foul play here, I can't exactly see anything positive coming out of this.

Originally posted by spacedonk
reply to post by matrixportal

 

ooooooooooppps.

This smells really fishy to me. What they didn't realise there was a pronlem until they had printed a 100 billion dollars? thats 1,000,000,000 individual notes before someone said oops we screwed up?!?

Really?

There must be something fraudulent going on because now they are printing the old version:

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 chairman of the Federal Reserve, Hank Paulson - in order to prevent a cash flow crisis.

Read more: www.dailymail.co.uk...

Who needs lots of old $100 dollar bills in circulation? I'll tell you someone with either a lot of stolen money to launder or someone who has a lot of fakes to launder.

Anyone else got a take on this?

www.dailymail.co.uk< br /> (visit the link for the full news article)

Yep... this is the start of "more currency problems" and counterfiting... this is a good place for the media to start calling for "new currency" this is an open door to talk about currency change..... OR MICROCHIPPING THE PUBLIC Seems like the printing presses are over used... the Govt is printing TOO much money... Oh well its all FAKE anyway!!!!