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A Billion New $100 Bills Quarantined in Huge Vaults in Fort Worth, Texas and Washington, DC
#1
A Billion New $100 Bills Quarantined in Huge Vaults in Fort Worth, Texas and Washington, DC

December 6th, 2010 Your what hurts?
Who needs to be a conspiracy theorist with mainstream news like this?
“Officials don’t know exactly what caused the problem…”
“Officials don’t know how many of the 1.1 billion bills include the flaw…”
“The defective bills – which could number into the tens of millions, potentially representing billions of dollars in face value – will have to be burned, they say.”
I mean, oh sure, they just printed unknown billions of dollars (face value) in cash that’s going to have to be burned?! Shit happens. Woops. Clumsy us.
Now, what do I really think is happening here?
I have three guesses.
The first guess goes something like this:
Maybe it was Hank Paulson and some of the other vampire squid sitting around and they thought, “These stupid idiots bought the bailout caper, how about we skip all of that nonsense and just print ourselves a few vault fulls of hundreds?! Who’s with me?”
Or, maybe They’re not finished with the existing “Supernotes” yet.
The following is from, Mysterious $100 ‘Supernote’ Counterfeit Bills Appear Across World:
Klaus Bender, the author of Moneymakers: The Secret World of Banknote Printing, said the phony $100 bill is “not a fake anymore. It’s an illegal parallel print of a genuine note.” He claims that the supernotes are of such high quality and are updated so frequently that they could be produced only by a U.S. government agency such as the CIA.
A third guess:
Maybe the “Supernote” Directorate of the CIA isn’t up to speed with printing the new toilet paper and they need an initial supply of the new stuff before they can implement the, “Illegal parallel print” of the new design.
What do you guys think?
Can anyone put me in contact with Klaus W. Bender, or get a statement from him with regard to this development?
Anyway, if there was a best of pile, this one would be in it.
Via: CNBC:
A significant production problem with new high-tech $100 bills has caused government printers to shut down production of the new notes and to quarantine more than one billion of the bills in huge vaults in Fort Worth, Texas and Washington, DC, CNBC has learned.
Initially scheduled for release in February of 2011, the new bills were announced with great fanfare by officials at the Treasury Department and the Federal Reserve in April.
At the time, officials announced the new bills would incorporate sophisticated high-tech security features, including a 3-D security strip and a color-shifting image of a bell designed to foil counterfeiters.
But the production process is so complex, it has instead foiled the government printers tasked with producing billions of the new notes.
An official familiar with the situation told CNBC that 1.1 billion of the new bills have been printed, but they are unusable because of a creasing problem in which paper folds over during production, revealing a blank unlinked portion of the bill face.
A second person familiar with the situation said that at the height of the problem, as many as 30 percent of the bills rolling off the printing press included the flaw, leading to the production shut down.
The total face value of the unusable bills, $110 billion, represents more than ten percent of the entire supply of US currency on the planet, which a government source said is $930 billion in banknotes. For now, the unusable bills are stored in the vaults in “cash packs” of four bundles of 4,000 each, with each pack containing 16,000 bills.
Officials don’t know exactly what caused the problem. “There is something drastically wrong here,” a person familiar with the situation said. “The frustration level is off the charts.”
Because officials don’t know how many of the 1.1 billion bills include the flaw, they have to hold them in the massive vaults until they are able to develop a mechanized system that can sort out the usable bills from the defects.
Sorting such a huge quantity of bills by hand, the officials estimate, could take between 20 and 30 years. Using a mechanized system, they think they could sort the massive pile of bills, each of which features the familiar image of Benjamin Franklin on the face, in about one year.
The defective bills – which could number into the tens of millions, potentially representing billions of dollars in face value – will have to be burned, they say. American taxpayers have already spent an enormous amount of money to print the bills.
According to a person familiar with the matter, the bills are the most costly ever produced, with a per-note cost of about 12 cents – twice the cost of a conventional bill. That means the government spent about $120 million to produce bills it can’t use. On top of that, it is not yet clear how much more it will cost to sort the existing horde of hundred dollar bills.
First Bills Signed by Geithner
Officials say they remain optimistic that the majority of the 1.1 billion bills will eventually be cleared for circulation.
The problem with the new hundred-dollar bills has remained largely hidden from public view, despite a press release issued by the Federal Reserve on Oct. 1 that announced “a delay in the issue date” of the new bills and cited “a problem with sporadic creasing of the paper.”
The redesigned bills are the first $100 bills to feature Treasury Secretary Tim Geithner’s signature. But to stave off a cash crunch as existing $100 bills deteriorate and can’t be replaced, the Federal Reserve has ordered renewed production of the current-design $100 bills, which feature Bush Treasury Secretary Hank Paulson’s signature and do not have the new security features.
Officials say that is an important step, because there are 6.6 billion $100 notes in circulation at any given time, and they wear out quickly. Reprinting the current design bills will prevent any disruption in the global circulation of US currency.
The production of American banknotes is a convoluted process. The paper is manufactured by Crane & Company, which has continually supplied the government since 1879. Design and production of the bills is handled by the Department of Treasury and its Bureau of Engraving and Printing. But the currency is actually issued by the Federal Reserve, which is why the bills are emblazoned with the phrase “Federal Reserve Note.”
The new $100 note is the latest denomination of U.S. currency to be redesigned with special anti-counterfeiting features. Treasury first introduced the redesigned $20 note in 2003 and has also redesigned the $50, $10 and $5 notes.
The government says that more than a decade of research and development went into the new security features on the redesigned $100.
The bill features a blue, three dimensional security strip that pictures bells that change to 100s as the strip is tilted. The ribbon is woven into the paper, not printed on it, which is why it is the focus of speculation as a potential cause of the paper creasing problem on the printing presses. The note also features another color-shifting image, of a bell inside an inkwell. The bell shifts color from copper to green as the bill is tilted.
As part of the rollout effort for the new $100 bills, the government set up a website explaining the changes, which can be seen at this website.
After they were printed, officials discovered that some of the new bills have a vertical crease that, when the sides of the bill are pulled, unfolds and reveals a blank space on the face of the bill. At first glance, the bills appear completely printed, but they are not.
Officials have mixed views on what caused the problem, and who is responsible for it. “This is not about assigning blame,” said one. But another person familiar with the matter said finger-pointing has already begun. “The Fed’s very unhappy, and the Bureau of Engraving and Printing is taking a beating unnecessarily,” the person said. “Somebody has to pay for this.”
"Where is the intersection between the world's deep hunger and your deep gladness?"
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#2
Quote:An official familiar with the situation told CNBC that 1.1 billion of the new bills have been printed, but they are unusable because of a creasing problem in which paper folds over during production, revealing a blank unlinked portion of the bill face.
A second person familiar with the situation said that at the height of the problem, as many as 30 percent of the bills rolling off the printing press included the flaw, leading to the production shut down.
The total face value of the unusable bills, $110 billion, represents more than ten percent of the entire supply of US currency on the planet, which a government source said is $930 billion in banknotes. For now, the unusable bills are stored in the vaults in “cash packs” of four bundles of 4,000 each, with each pack containing 16,000 bills.

These clowns own the printing press and can't even manage to print money properly.

No wonder they invented a psyop term, Quantitative Easing, which Joe Public can neither pronounce nor understand, and just give the dollars directly to their Wall Street mates....
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."

Gravity's Rainbow, Thomas Pynchon

"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
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#3
One Response to “A Billion New $100 Bills Quarantined in Huge Vaults in Fort Worth, Texas and Washington, DC”
neural overload Says:
December 6th, 2010 at 8:30 pm

having worked at several printing presses (although not involving money) the likelyhood of a run with a significant ‘creasing issue’ lasting for miles of a run is really near zero unless every person in that building, and those monitoring the cameras focused not only on the building and the workers but the actual print run itself, had all just participated in the largest needle sharing endeavour undertaken by the treasury dept to date.

remember the fad of wrapping presents in sheets of money that had not been cut? think about what it would take for a sheet to be damaged enough that it was unusable, before it was even cut. then imagine this happening for days, and discovered just in time to need to be ‘put away’ somewhare.

in other news, someone just located a vault with enough to fractionally reserve a euro bailout.
"Let me issue and control a nation's money and I care not who writes the laws. - Mayer Rothschild
"Civil disobedience is not our problem. Our problem is civil obedience! People are obedient in the face of poverty, starvation, stupidity, war, and cruelty. Our problem is that grand thieves are running the country. That's our problem!" - Howard Zinn
"If there is no struggle there is no progress. Power concedes nothing without a demand. It never did and never will" - Frederick Douglass
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#4
Peter Lemkin Wrote:having worked at several printing presses (although not involving money) the likelyhood of a run with a significant ‘creasing issue’ lasting for miles of a run is really near zero unless every person in that building, and those monitoring the cameras focused not only on the building and the workers but the actual print run itself, had all just participated in the largest needle sharing endeavour undertaken by the treasury dept to date.

That rings true.

So this may just be an old fashioned heist by TPTB.
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."

Gravity's Rainbow, Thomas Pynchon

"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
Reply
#5
hmmm.....$1,100,000,000,000 [10% of the World's cash supply] sitting in two vaults, protected by the Secret Service [worthy of due respect] et al. - said to be phony...or partly 'faulty', but not destroyed - and no one noticed the 'mistake' during what must have been months of printing!

......someone is going to make a lot of money and the Sheeple are going to loose an equivalent sum, IMO.

Why do I sense this is not a new scam, only a variation on an oft used one?!....cynical me.....:flute:
"Let me issue and control a nation's money and I care not who writes the laws. - Mayer Rothschild
"Civil disobedience is not our problem. Our problem is civil obedience! People are obedient in the face of poverty, starvation, stupidity, war, and cruelty. Our problem is that grand thieves are running the country. That's our problem!" - Howard Zinn
"If there is no struggle there is no progress. Power concedes nothing without a demand. It never did and never will" - Frederick Douglass
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