Your Tax Dollars At Work, People!
The U.S. Federal Reserve, headed up by Chairman, Ben Bernake, botched a massive money printing job, costing U.S. taxpayer $120,000,000. Just look at all those zeros. The error occurred when someone at the Federal Reserve messed up the design of one billion dollars in $100 dollar bills. This resulted in a massive batch of bills being quarantined totaling $100 billion dollars in value.
The bills were said to contain a new security measure to foil counterfeiters, but it turns out the government only foiled itself in this mission. Smooth. Something tells me this job would have turned out better had they let Kinkos or the UPS Store do it.
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Government can’t print money properly
Mon Dec 6, 9:36 am ET - 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."
