New York and DC are piles of ash, but at least your checks are clearing. That was the idea behind the Culpeper Switch, a sprawling bunker built by the Federal Reserve to keep the banks running after nuclear apocalypse. But even some Cold War-era politicians thought it was silly.
What happens to old paper money that's too worn out to be used? It's often recycled and made into everything from dog beds to packing materials. But the Philadelphia Federal Reserve office does something even more unique: They send the old currency to local power plants, where it's burned for electricity.
A week ago, the Federal Reserve announced something or another about bonds, a move that sent the bond market into a frenzied orgy of bond loading and unloading. So what, right? The markets quiver whenever the Fed does anything. Well, weirdly, it appears the information got out five milliseconds early. Which wouldn't…
The Federal Reserve said that one of its internal websites had been hacked today. It's unclear who did the hacking but the Feds say that the hackers were not able to do any serious damage. Reuters says that, "no critical functions of the central bank were affected by the intrusion."
Headless hacker collective Anonymous says it plans to hit the Federal Reserve starting tomorrow as a part of Operation Empire State Rebellion, timed to coincide with, um, Flag Day. Buy Gold! Buy gold now!
The government announced its new high-tech design for $100 bills in April with much hoopla, including an epic YouTube trailer. But there's been a small glitch since then: $110 billion of them have been printed incorrectly.