The Fed Broke the Printing Press !

Here is the news release that every Austrian Economist will be forwarding, printing out and framing:


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.


Print! Print Print!  BZZTHHWACK!  Uh-oh!

Hat tip Reformed Broker, Jr Deputy Accountant

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