The one thing that our federal government actually produces - money - and the quality control is so poor that they can't even get it right.
Did you hear about this one? 1.1 billion brand new, freshly printed $100 bills - or $110 billion can't be used and they may have to burn them. What's that? More money going up in smoke? I know.
It seems this recent press run caused the paper to wrinkle causing a crease in some of the bills and uneven ink coverage - up to 30% of the bills may be affected.
There is only $930 billion in circulation - before the Fed dumps in another $600 - or an additional two-thirds of the total money supply - so a $110 billion mistake amounts to roughly a 12% mistake or 1/8 of the money in print.
By the way, do you realize that the government spends 12 cents per bill to print it? Seems a little pricey.
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Steve Hoffacker - Consultant, Coach, Author, Blogger, Photographer, Motivator, Teacher, & Strategist - for Realtors, Real Estate Sales Professionals, Home Builders, New Home Salespeople, Entrepreneurs, Small Business Owners, and Independent Sales Representatives.
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