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Ooopsies!

Submitted by Roanman on Thu, 12/09/2010 - 09:47

 

From CNBC via Yahoo News.

Which by the way is pretty good for stuff that is likely to not get picked up by the more traditional services.

As always click anywhere below to link up the entire story.

 

Government can’t print money properly

By Zachary Roth

 

 

As a metaphor for our troubled economic and financial era -- and the government's stumbling response -- this one's hard to beat. You can't stimulate the economy via the money supply, after all, if you can't print the money correctly.

Because of a problem with the presses, the federal government has shut down production of its flashy new $100 bills, and has quarantined more than 1 billion of them -- more than 10 percent of all existing U.S. cash -- in a vault in Fort Worth, Texas, reports CNBC

"There is something drastically wrong here," one source told CNBC. "The frustration level is off the charts."

More than 1 billion unusable bills have been printed. Some of the bills creased during production, creating a blank space on the paper, one official told CNBC. Because correctly printed bills are mixed in with the flawed ones, even the ones printed to the correct design specs can't be used until they 're sorted.