Skip to content

Feds Should Release Defective Bills

December 7, 2010

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…

Advertisements

From → Uncategorized

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: