It is actually a fairly decent idea, but the fact that the Philadelphia Federal Reserve is literally burning money to create electricity and heat is surely one of the most ironic stories to hit the news in quite a while.
According to the Wall Street Journal, The Federal Reserve takes back in nearly 5 thousand tons of trash dollar bills that are worn and no longer usable.
Just a few years ago, the vast majority of this trash money ended up in landfills, while luckily today most of it is recycled.
Different Federal Reserve locations have been experimenting with different methods of recycling, and in Philadelphia they are actually just burning the old money and converting it into heat.
“Rather than just sitting in a landfill, it’s producing electricity for residents in the Delaware Valley, here in our district,” a representative of the Federal Reserve Bank of Philadelphia told the Wall Street Journal.
Now if they could actually burn all of the money in circulation, and allow free people to discover their own alternatives, then we may actually start to make some economic progress.