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REPORT COPYRIGHT VIOLATION IN REPLY
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Message Subject
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The Cash Crunch: The Short Version...
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Poster Handle
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my 2 cents |
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Post Content
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I haven't read all the pages in this thread so forgive me if this has already been mentioned. Apparently the new $100 FRNs are being withheld due to printing problems. They won't release these notes until the problem has been resolved. I wonder if this could apply to the other denominations as well? [ link to www.cnbc.com] Yeah, here is the reasoning behind the Fed holding back the last two years worth of $100 printings... [ link to www.newmoney.gov] The kicker to this is, my source at the Dallas Fed says this excuse is complete and utter bullshit... It appears they aren't holding back so much on releasing the other denominations of bills, it's just that almost half of the money printed over the last two years (in dollar value) are in the $100 bills they aren't releasing, and they are still pulling worn and torn $100's out of the system. This is what's leading to the cash shortage we are seeing... I just watched the video you posted and it didn't strike me as unreasonable that the new notes would be held back due to "printing problems". However, it did strike me as VERY odd that there would be at least a six month lag between the announcement of the notes being released and the actual release date. (1:15-1:30 in the video) The reason given, that businesses will need at least six months to prepare themselves for the release, comes across as a pile of bullshit to me, especially when other denominations are released without any lag time. Something smells.
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