Government Prints $110 Billion in Unusable Money, Hides It [Video]

The govt. announced its new high-tech design for $100 bills in April with much hoopla, including an epic YouTube trailer. But there’s been a small glitch since then: $110 billion of them were printed incorrectly.

The Treasury’s trailer from April announcing the brand new bill, above, shows off its high-tech security measures, equivalent to ” a 3-D security strip and a color-shifting image of a bell designed to foil counterfeiters.” These exotic features caused some problems with the first batches of printing, as the govt discovered after a trifling $110 billion worth were created:

At the time, officials announced the most recent bills would incorporate sophisticated high-tech security measures, 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 govt printers tasked with producing billions of the brand new notes.

An official knowledgeable about the location told CNBC that 1.1 billion of the recent bills had been printed, but they may be unusable with the aid of a creasing problem during which paper folds over during production, revealing a blank unlinked component to the bill face.

A second person aware of the placement said that at the height of the issue, as many as 30 percent of the bills rolling off the printing press included the flaw, leading to the production shut down.

The bills had been quarantined in ” huge vaults” in Texas and Washington, consistent with the govt. . Also possible: The cash is perfectly fine and the govt just gave it to special banks or something.

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This post is tagged: 1 billion, high tech design, paper folds, printing press, second person, security strip, time officials