Federal Reserve in US$100 billion money printing blunder


Uploaded by NMAWorldEdition on 08.12.2010

Transcript:
US Fed in US$100 billion printing blunder
The US had planned to release a new
counterfeit-proof US$100 bill this February.
But it has been delayed after it was discovered
around a third of the 1.1 billion
notes printed have a problem.
A key feature of the new bill
is a 3D security strip.
The technology took around ten years to develop.
When you tilt the note the bell and 100 in
the strip will move and change color.
The irony is that the anti-counterfeiting technology
is so complicated it caused the printing problems.
When the sides of a new note are pulled
a blank space is revealed on the bill's face.
The 100 symbol and the bell are also missing.
The government has been forced to start reprinting
the old design to prevent a shortage of US$100 bills.
Another problem will be sorting out the problematic bills.
If piled, the bills would be as tall as 3 Sears Towers
Authorities estimate that sorting through the
pile by hand could take 20 to 30 years.
The 1.1 billion bills are being stored in
Texas and Washington until a solution is found.
The worst case scenario would see
the bills shredded.
Apple Action News.