$100 bill printing error: Over $110 billion unusable
Summary: New special paper doesn't go through a printer correctly. Sound familiar? It just happened to U.S. government presses printing 1.1 billion $100 bills.
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The back of the new $100 bill.
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Talkback
Unemployment
RE: $100 bill printing error: Over $110 billion unusable
I'm sorry to say it, but that wouldn't work out. "Off the street", unemployed or not, would not have the fortitude to not make a mistake and mis-pile the money. After just a few hours, such a task makes people get easily confused and mistake prone. And that doesn't count the ones that don't really care.
I'd imagine a scanner would be the only way to accurately and reliably catch those mistakes since they're all known errors, or seem to be according to the article. Even so, not perfectly matching a template could easily enough kick them out with scanners.
RE: $100 bill printing error: Over $110 billion unusable
People "actually earn" their unemployment at things called JOBS. You know, where they pay for unemployment insurance out of their paycheck?
RE: $100 bill printing error: Over $110 billion unusable
Unemployment insurance is a tax that is placed on businesses. Not something taken from my paycheck. Now if it were not a business tax then i might see more in my paycheck, in which case I could set that money aside myself for use in the event that i was unemployed.
It costs money to make money
RE: $100 bill printing error: Over $110 billion unusable
RE: $100 bill printing error: Over $110 billion unusable
RE: $100 bill printing error: Over $110 billion unusable
More anti-government clap trap. Stuff like this happens all the time in business, with no one being fired, and the expense written off as a business loss. I.e. you the tax payer still pays for it.
Reflects the Printing Industry in America
RE: $100 bill printing error: Over $110 billion unusable
In this case I can see where a first trial run may have looked perfect and only shown up later in the printing process, so heads should probably roll, but not necessarily within the government. Direct responsibility should be assigned, whether it was the process or human or whatever, but get the culprit/s right.
Printing
I read an article earlier this week that stated that the problem is that the new security features are very hard to print properly. The problem is in the printing and not in the paper or set up.
The article said that it would take 20 years to sort through the printed bills and that it would take about 6 or more months for machine based scanning. Apparently the costs to sort are bigger than the cost to destroy the bills and reprint them.
RE: $100 bill printing error: Over $110 billion unusable
RE: $100 bill printing error: Over $110 billion unusable
RE: $100 bill printing error: Over $110 billion unusable
RE: $100 bill printing error: Over $110 billion unusable
RE: $100 bill printing error: Over $110 billion unusable
... many other countries do this successfully
RE: $100 bill printing error: Over $110 billion unusable
Just give them away
Misreporting
RE: $100 bill printing error: Over $110 billion unusable
Until they scan through that fat stack of bill sheets, the bills are 100% unusable. Even after they scan them, they will have to re-scan and then human verify (As in not scanned but looked at by trained eyes) the bills before they ever release them to the public because just one error makes that 100 dollar bill worth a thousand or more on the market and embarrasses the US Treasury department one more time.