Wednesday, December 8, 2010

Our incompetent government can't even devalue our currency properly

This story from Yahoo! News is one of those that is sad and funny at the same time:

"Government can’t print money properly" by Zachary Roth
http://news.yahoo.com/s/yblog_thelookout/20101206/us_yblog_thelookout/government-cant-print-money-properly

"More than 1 billion unusable bills have been printed."

"It would take an estimated 20 to 30 years to weed out the defective bills by hand, but a mechanized system is expected to get the job done in about a year."

"Combined, the quarantined bills add up to $110 billion -- more than 10 percent of the entire U.S. cash supply, which now stands at around $930 billion."


Honestly, our government can't even do its illegitimate functions (printing worthless paper "money" backed by nothing but a promise) properly. Sad but true.

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