<

The Fed's Cold War Bunker Had $4 Billion Cash For After The Apocalypse

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. » 4/24/15 11:56am 4/24/15 11:56am

Philadelphia literally burns old money for electricity

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. » 12/27/14 3:00pm 12/27/14 3:00pm

High-Speed Traders Beat Laws of Physics, Steal 5 Milliseconds From Fed

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… » 9/25/13 12:30pm 9/25/13 12:30pm