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BEP Production: September 2010 vs. October 2010

December 7, 2010

A cursory examination of the recently released BEP production figures for the calendar months of September & October of 2010 does not seem to show discrepancies suggestive of significant printing difficulties.

Though the amounts of the various denominations printed does change, the over-all output of the BEP does not vary significantly from September to October (between 2 and 4%).

Also relevant is the fact that the ratio of $100 star notes to total $100 notes remains relatively constant (for the two-month period): 9.6% versus 14.3%, a change of 4.7%. While this apparent ‘loss’ rate is much higher than that of other denominations (between 2 and 2.8%), the rate did not change significantly from month to month despite a ten-fold change in the number of $100 notes being printed. This suggests a relatively constant loss rate for $100 NCM notes over this two month period.

Further months’ production figures have not been analyzed by this author.

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