Saturday, October 2, 2010

Fed/Treasury Botch the Printing of Paper Money

This is getting comical. The government that hates gold has just announced that they have screwed up the printing of the new paper $100 bill.

Burying the news on a Friday afternoon, the Federal Reserve Board announced a delay in the issue date of the redesigned $100 note, which was originally scheduled for 2-10-11.

The Bureau of Engraving and Printing, a division of the Treasury, manufactures Federal Reserve notes and has identified a problem with sporadic creasing of the paper during printing of the new $100 note, which was not apparent during extensive pre-production testing, the Fed said. As a consequence, the Federal Reserve will not have sufficient inventories to begin distributing the new $100 notes as planned.

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