December 7, 2010

Snarky Quote of the Day

Apparently the new $100 bills are so counterfeit-proof that even the Treasury can't print them correctly. We now have $110 billion sitting in a Ft. Worth, TX vault waiting to sort the good bills from the bad. A Yahoo news report concludes with this gem:

The new bills are the first to include Treasury Secretary Tim Geithner's signature. In order to prevent a shortfall,the government has ordered production of the old design, which includes the signature of Bush administration Treasury Secretary Henry Paulson. That, surely, is not the only respect in which the nation's lead economic officials would like to turn back the clock to sometime before the 2008 financial crisis.

The government plans to destroy the misprinted bills. However, The Refugee would bet that collectors all over the world would pay enough for these items to at least make a dent in the $120 million mistake.

Quote of the Day Posted by Boulder Refugee at December 7, 2010 10:00 AM

I was wondering how to get one. But it's not really an upside down picture or "United Stites" or something that is visible. That seems to dampen supra-numismatic value, doesn't it?

Posted by: jk at December 7, 2010 10:37 AM

First we had, "Just plug the damn hole!"

Now we have, "Just print the damn cash!"

Posted by: johngalt at December 7, 2010 11:15 AM

Some of the sheets wrinkled in the press causing blank spaces in the bill. That would seem to generate a deal of numismatic uniqueness.

Posted by: Boulder Refugee at December 7, 2010 12:50 PM

Teachable moment for the press (yeah, good luck with that...):

This is not a $110Billion dollar problem, this is a problem with $110Billion of denominated currency. I'd get a warm fuzzy feeling inside if I thought any of them understood the difference.

Posted by: jk at December 7, 2010 2:02 PM | What do you think? [4]