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The real reason for the delay in printing the new $100 bill is that the anti-counterfeiting technologies utilized by the Bureau of Engraving and Printing included an “anti-lying feature” which mysteriously kept changing the $100 number to $39. At the moment, no one at the Fed understands why this is happening. Dr. Bernanke stated yesterday that he has been unable to find anything in his Keynesian library on the subject but will continue to look. “We will get to the bottom of who despoiled our currency by criminally placing an anti-lying feature in our printing press,” he said. “In the meantime (and for an extended period), we will simply tell the American people that these really are $100 bills, net of Federal taxes, and are a strategic part of our carefully thought-out QE-3 stimulus plan. Everything will work out…everything will be fine…,” said the Chairman as he avoided eye contact and began sweating profusely. Voting against the policy was Thomas M. Hoenig, who judged that the economy continues to recover at a moderate pace, negating the need for more dollars; but suggesting that printing a few counterfeit Yuan might be useful at this time. –Wen Jiabao reporting
Federal Reserve Press Release
Release Date: October 1, 2010
For immediate release
The Federal Reserve Board on Friday announced a delay in the issue date of the redesigned $100 note. This new design incorporates cutting edge, anti-counterfeiting technologies and the Federal Reserve imposes strict quality controls to ensure that users of U.S. currency around the world receive the highest quality notes. The Bureau of Engraving and Printing manufactures Federal Reserve notes and has identified a problem with sporadic creasing of the paper during printing of the new $100 note, which was not apparent during extensive pre-production testing. As a consequence, the Federal Reserve will not have sufficient inventories to begin distributing the new $100 notes as planned. The Bureau of Engraving and Printing is working to resolve this problem, and the Federal Reserve Board will announce a new issue date for the redesigned $100 note as soon as possible. The originally scheduled issue date was February 10, 2011.
Federal Reserve Press Release
Release Date: October 1, 2010
For immediate release
The Federal Reserve Board on Friday announced a delay in the issue date of the redesigned $100 note. This new design incorporates cutting edge, anti-counterfeiting technologies and the Federal Reserve imposes strict quality controls to ensure that users of U.S. currency around the world receive the highest quality notes. The Bureau of Engraving and Printing manufactures Federal Reserve notes and has identified a problem with sporadic creasing of the paper during printing of the new $100 note, which was not apparent during extensive pre-production testing. As a consequence, the Federal Reserve will not have sufficient inventories to begin distributing the new $100 notes as planned. The Bureau of Engraving and Printing is working to resolve this problem, and the Federal Reserve Board will announce a new issue date for the redesigned $100 note as soon as possible. The originally scheduled issue date was February 10, 2011.
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