My printer glitches out on occasion. But then, I don’t print money.
A significant production problem with new high-tech $100 bills has caused government printers to shut down production of the new notes and to quarantine more than one billion of the bills…
That 110 billion “represents more than ten percent of the entire supply of US currency on the planet”.
But wait! There’s more! Officials do not know exactly how many of the billion bills are in fact flawed. Sorting out a billion bills by hand would take, oh, 20 or 30 years or so.
If they cannot develop mechanical means to sort them out, they will be burned. The most expensive bill yet produced, they cost 12 cents each. That’s a $120 million printer error.
Hat tip to Fast Company: Cash, Money, Woes: Inside the Fed’s $100 Billion Printer Error |