yet ANOTHER Fed Blunder

Cancel 2016.2

Cancel 2016.2

The Almighty
http://finance.yahoo.com/news/The-Fed-Has-a-110-Billion-cnbc-1062012685.html?x=0

A significant production problem with new high-tech $100 bills has caused government printers to shut down production of the new notes and to quarantine more than one billion of the bills in huge vaults in Fort Worth, Texas and Washington, DC, CNBC has learned.
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An official familiar with the situation told CNBC that 1.1 billion of the new bills have been printed, but they are unusable because of a creasing problem in which paper folds over during production, revealing a blank unlinked portion of the bill face.
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According to a person familiar with the matter, the bills are the most costly ever produced, with a per-note cost of about 12 cents - twice the cost of a conventional bill. That means the government spent about $120 million to produce bills it can't use. On top of that, it is not yet clear how much more it will cost to sort the existing horde of hundred dollar bills.
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Seriously... how ignorant are the morons at the Fed? You print ONE BILLION bills with NO quality control? How the hell can you print that many bills without making sure they are usable?

The more I look at the Fed, the more I think they should be eliminated. They have had one fuck up after another over the past twenty years. Their negative impact on the economy far outweighs any benefit they have provided.
 
isn't it normal business practice that if a manufacturer screws up their product, they end up paying for their mistake?

has anyone noticed that we the people have been hijacked by major industries like the fed, power companies, oil companies?
 
SmarterThanYou said:
isn't it normal business practice that if a manufacturer screws up their product, they end up paying for their mistake?

has anyone noticed that we the people have been hijacked by major industries like the fed, power companies, oil companies?
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Yes, but they keep us so busy fighting each other that we don't notice them, has anyone happened to notice that? The more discord amongst us, the more they are able to achieve their goals!
 
Rana said:
Yes, but they keep us so busy fighting each other that we don't notice them, has anyone happened to notice that? The more discord amongst us, the more they are able to achieve their goals!
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which is why both parties like to revert to wedge issues during the elections and while in office. They get the populace bickering over gay marriage, abortion, etc... so that they can keep screwing us economically.
 
Superfreak said:
which is why both parties like to revert to wedge issues during the elections and while in office. They get the populace bickering over gay marriage, abortion, etc... so that they can keep screwing us economically.
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Yes, they do and why can't we see this? There are some very good ideas here on both sides, it seems there are solutions!
 
Rana said:
Yes, they do and why can't we see this? There are some very good ideas here on both sides, it seems there are solutions!
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Some of us do see it. We are called independents. We are the ones that decide the close elections. The two parties benefit by a divided populace. It maintains the status quo. Just look to all the 'safe' seats in the House that the two parties have created. Take a look at the district maps for most states (especially the 'swing states').... they make little to no sense geographically. But when you look at the demographic make up... you see why they are so distorted.
 
Superfreak said:
Some of us do see it. We are called independents. We are the ones that decide the close elections. The two parties benefit by a divided populace. It maintains the status quo. Just look to all the 'safe' seats in the House that the two parties have created. Take a look at the district maps for most states (especially the 'swing states').... they make little to no sense geographically. But when you look at the demographic make up... you see why they are so distorted.
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I am not an independent, but I am one who they call constantly during the election season.
 
Superfreak said:
Some of us do see it. We are called independents Libertarians. We are the ones that decide the close elections. The two parties benefit by a divided populace. It maintains the status quo. Just look to all the 'safe' seats in the House that the two parties have created. Take a look at the district maps for most states (especially the 'swing states').... they make little to no sense geographically. But when you look at the demographic make up... you see why they are so distorted.
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FTFY
 
Superfreak said:
you don't imagine what is directly managed by the Fed Chair?
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I don't imagine their job is to sit in the factories all day and ensure that they are running in tip-top-shape. This has absolutely nothing to do with their primary responsibility, which is managing fiscal policy, you ignorant, smelly, prole.
 
CERVIXCRUSHER9000 said:
I don't imagine their job is to sit in the factories all day and ensure that they are running in tip-top-shape. This has absolutely nothing to do with their primary responsibility, which is managing fiscal policy, you ignorant, smelly, prole.
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So.... no one should be held accountable for a loss of $120mm in tax payers money? No one should be responsible to make sure the printing presses are actually functioning? We should just continue printing billions of pieces of worthless paper?

poor little emo.... FAIL
 
Superfreak said:
So.... no one should be held accountable for a loss of $120mm in tax payers money? No one should be responsible to make sure the printing presses are actually functioning? We should just continue printing billions of pieces of worthless paper?

poor little emo.... FAIL
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just another shining example of government regulation being good.
 
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