The Fed Has a $110 Billion Problem with New Benjamins..A significant production problem with new high-tech $100 bills has caused government printers to shut down production of the new notes...An official familiar with the situation told CNBC that 1.1 billion of the new bills have been printed, but they are unusable because of a creasing problem
EPJ two months ago:
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.
Always, always read the late Friday news releases and holiday releases. That's where they always hide the good stuff.
I read it for the chicks. I tell women I read EPJ, and then they want to go out with me.
ReplyDeleteI know what you mean.
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