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! Billion Bad $100 Bills ??

post #1 of 9
12/10/10 at 11:00am
Thread Starter 
Seems $110 Billion worth of banknotes have a printing error that means they will probably have to be shredded at a cost of $120 Million to the taxpayer.

Quote:
Dalton-based Crane & Co. says its not responsible for a printing gaffe that has affected $1.1 billion worth of new hundred-dollar bills and could cost taxpayers up to $120 million.

Crane manufactures the paper to the governments specs, but I dont know if its a problem with the paper, said Peter Hopkins, a spokesman for Crane & Co., which has produced the paper for dollar bills since 1879. I havent seen any finger-pointing yet.

Link

Wtf?? How could this happen?
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What is Faith? When your good deed pleases you and your evil deed grieves you, you are a believer. What is Sin? When a thing disturbs the peace of your heart, give it up - Prophet Muhammad
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post #2 of 9
12/10/10 at 9:05pm
It made the news here a day or two ago. I've heard (and had) printing problems, but usually you catch it before it gets out of hand.

Folded sheets?

For something as important and expensive (!!!) as money, one would expect a little more double-checking.

 

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Your = the possessive of you, as in, "Your name is Tom, right?" or "What is your name?"

 

You're = a contraction of YOU + ARE as in, "You are right" --> "You're right."

 

 

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post #3 of 9
12/11/10 at 6:43am
If you watch those "how it's made" type of shows you get the impression they have their finger on every part of the printing. I guess not.\
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The politics of charisma is so Third World. Americans were never going to buy into it for long. - Foudad Ajami
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post #4 of 9
12/11/10 at 1:03pm
Someone fell asleep at the Treasury Printing Press.....what happened to spot inspections of the print run?

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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #5 of 9
12/11/10 at 3:32pm
Quote:
Originally Posted by FineTunes View Post

Someone fell asleep at the Treasury Printing Press.....what happened to spot inspections of the print run?

That costs more, so they skipped it to cut a few bucks likely... See how much it saved us!
NoahJ
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NoahJ
"It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err." - Mahatma Gandhi
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post #6 of 9
12/13/10 at 5:40pm
Since the dollar bill is not a true representation of the value, it is nothing more than wasted paper. More virtual numbers in losses...
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post #7 of 9
12/13/10 at 8:09pm
Quote:
Originally Posted by talksense101 View Post

Since the dollar bill is not a true representation of the value, it is nothing more than wasted paper. More virtual numbers in losses...

The dollar's value is determined every instant on the free market.
The politics of charisma is so Third World. Americans were never going to buy into it for long. - Foudad Ajami
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The politics of charisma is so Third World. Americans were never going to buy into it for long. - Foudad Ajami
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post #8 of 9
12/13/10 at 8:50pm
Quote:
Originally Posted by talksense101 View Post

Since the dollar bill is not a true representation of the value, it is nothing more than wasted paper. More virtual numbers in losses...

There is a cost to run the presses, cost to buy the paper which is higher than normal paper most likely due to its specific nature, cost for the ink, cost for all aspects of the process. And now costs for the shredding and likely a reprint. Not virtual costs, real costs. \
NoahJ
"It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err." - Mahatma Gandhi
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NoahJ
"It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err." - Mahatma Gandhi
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post #9 of 9
12/14/10 at 11:53am
Quote:
Originally Posted by NoahJ View Post

There is a cost to run the presses, cost to buy the paper which is higher than normal paper most likely due to its specific nature, cost for the ink, cost for all aspects of the process. And now costs for the shredding and likely a reprint. Not virtual costs, real costs. \

Printing cost were about $120M.
無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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