Feds Should Release Defective Bills
Not only can they not print money – they can’t help but waste it either.
From Yahoo News:
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.
The flawed bills, which cost around $120 million to print, will have to be burned.
That’s right, they’re burning the money.
If they were SMART, however, they would SELL the flawed bills – if previous mistakes are any example, they would make for valuable investments as collectors items. If nothing else, they could at least mitigate the $120 Million cost to taxpayers.
As far as the actual printing goes, they should consider outsourcing that – just because the bill is supposedly counterfeit proof doesn’t mean that a sufficiently enterprising private firm couldn’t print it up. It’s actually pretty impressive what a little entrepreneurial spirit can accomplish. Certainly they can’t do any worse…