U.S. Government Misprints $110 Billion
Sun Dec 12, 2010, 12:48 pm | 2 Comments
Daily Tech: Printing process was so complex apparently even the government couldn’t figure it out. It was the “bill of the future”. The new American $100 bill had 3D security ribbons and threads. Microprint text and watermark images were disguised across its surface. And the numbers changed color depending on the light and viewing angle. Lauded to the press in April, the bill was so sophisticated that no counterfeiter could hope to reliably print it.
The only problem, though, was that apparently the U.S. government couldn’t reliably print it either. During the initial printing run, a flaw in the printing process was encountered, which led to a layer of the paper folding over after inking, revealing an uninked portion.
Approximately 30 percent of the the approximately $366B USD printed, or roughly $110B USD worth of bills, carry the flaw. That’s a whopping 1.1 billion botched bills.
An official close to the process confided with CNBC, “There is something drastically wrong here. The frustration level is off the charts.”
Read The Full Story:
Daily Tech: U.S. Government Misprints $110B USD in “High Tech” Currency.
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