The new $100 bill has a not-so-secret weapon
A blue ribbon woven into the note's fabric is supposed to block overseas counterfeiters who have become very good at producing fakes.
Benjamin Franklin is still on the front of the bill, but he'll be joined by a blue security ribbon that's supposed to stymie counterfeiters. Officials have been trying for years to combat the high-quality fake $100 bills that are being produced in North Korea, Reuters reports. Those counterfeit bills, called supernotes, are extremely tough to detect.
The blue ribbon, woven into the fabric of the new bill, is supposed to change that. The Treasury Department has loaded the bill with other security features, including an image of a bell and a large "100" that will change color from copper to green when tilted, Reuters reports. The bill also has another security strip near Franklin's head that you can see when you hold it up to the light.
It's been a long road to this bill for the Treasury Department. The note was originally supposed to debut in early 2011, but the ribbon was causing problems in the printing press. The Treasury Department had to put the project on hold to fix the issue.
Why all the fuss? Because the $100 bill is the most frequently counterfeited of all U.S. currency. Older $100 bills can still be used, but they'll be destroyed as they come through the Federal Reserve system, Reuters reports.
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Govt... more than 2 years behind schedule. (says it all right there)
The problem is, On October 1, It will only be worth $50.00
Thank you Mr. Pres. for printing our money until it is worthless.
Probably cost more than $ 100 to make per bill. Counting research, making, dealys, red tape. Wonder why our goverment is broke..
If you read the article in its entirety, you will see that these measures are indeed necessary . The security ribbon design is being introduced a lot sooner than originally expected as it is intended to thwart counterfeit bills that are being printed in and distributed from Korea.
it seams to me the only businesses that accept ONLY CASH are State lotteries, and DRUG dealers. And both pay NO income TAX on the money.
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[BRIEFING.COM] The stock market ended the Thursday session on a mixed note ahead of Friday's nonfarm payrolls report for February (Briefing.com consensus 163K). The Dow Jones Industrial Average (+0.4%) and S&P 500 (+0.2%) posted modest gains while the Nasdaq Composite (-0.1%) lagged throughout the session.
Equities began the trading day on an upbeat note following comments from the Bank of England and the European Central Bank, both of which reaffirmed their commitment to ... More
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