DailyBull: I saw a billion dollars today - Day 3
I saw a billion dollars today, literally. $14 million of which by the end of the day would be nothing but ashes. I attended an emergency preparedness institute this morning hosted by the Atlanta Fire and Rescue Foundation. Shirley Ann Smith is the executive director and organizer of this wonderful program. The Federal Reserve Bank of Atlanta graciously hosted the Atlanta Emergency Preparedness Institute for first responders and emergency preparedness experts.
Pictured above is Shirley Ann Smith, Executive Director of Atlanta Fire and Rescue Foundation; Cheif Joel Baker, Atlanta Fire Cheif; Dr. Lillianne Lewis Debnam, MD/MPH, Preventative Medicine Resident at the CDC
They allowed us to take a tour of their beautiful facility. It included a tour of their police command center and their money museum. The money museum traces the history of money throughout the ages all the way up to the present day. The museum showcased currency dating back to the beginning of the republic into the present. It highlighted the attempts by counterfeiters to replicate the accomplishments of the treasury department in creating federal reserve notes.
There were numerous denominations displayed which are no longer in circulation in larger bills than a Ben Franklin. There were 500, 1000, 5000, 10,000, and even hundred thousand dollar notes. The hundred thousand dollar note with Woodrow Wilson was the only one never in circulation. There was also a gold brick worth approximately half a million dollars. The exact amount was displayed numerically in a digital counter above the encased brick. The exact amount fluctuates based on the price of gold. Photography or videography are not allowed in the museum or near the vault.
Uncirculated $100,000 note with President Woodrow Wilson
The highlight of the tour was a brief glimpse of the vault and the money processing operation. The Vault utilized robots guided by laser to briskly move large pallets of currency from the loading docks to various parts of the facility. Simultaneously, human money processors unpacked, documented, and loaded worn currency into a machine to be shredded and destroyed. This was one of the most horrific things that I’ve ever seen.
We were informed that fresh currency would soon be received from the Bureau of Printing and Engraving to replace the destroyed notes in the money supply. We were told that the exact amount was known only by three people inside of the building. However, the officer informed us that the conservative estimate would be between $4 and $40 billion held at the location. I had never seen that much money in one place, much less being destroyed. I was told by the officer that roughly $14,000,000 in currency is destroyed every day.
Once we left the Federal Reserve, I ate dinner with my wife at Steamhouse Lounge. It was a great experience and for any seafood lover they have wonderful grouper and calamari. My wife received an invitation from a friend and colleague to attend the Atlanta United home game at the new Mercedes-Benz stadium. We were hosted by RIISE Ventures founder, M.Cole Jones, in his field level suite.
The sheer beauty of the stadium hits you as soon as you are in the vicinity of the facility. The stadium looks like a giant transformer rising into the Atlanta skyline. The Mercedes-Benz stadium is state of the art, providing a dynamic and engaging fan experience. The field level suite is lush with well-planned and bountiful amenities. The view behind the home goal puts you right in the game.
After the game, I had the opportunity to chat with M.Cole about RIISE Ventures. He explained that the goal of RIISE is to optimize the fan experience with a combination of technology, entertainment and premium customer service. Hopefully, I will be able to sit down with him to go into more depth about RIISE Ventures and their work. Overall…
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