China: Power plant burns banknotes instead of coal

BBC ^ | December 10, 2014 | Staff

[C19fan]

The power plant in Luoyang, central Henan Province, is burning old and damaged banknotes instead of coal - the first time this has been done in China, the official Xinhua news agency reports. The plant says one tonne of notes can generate more than 600 kWh of electricity, and is better for the environment than burning coal. The country's central bank, the People's Bank of China, has given permission for the notes to be burned, and says it's an efficient way to make electricity. With the province's unused paper money the company "can help generate 1.32 million kWh of electricity annually, which is equal to burning 4,000 tonnes of coal", a member of staff at the bank tells Xinhua.

[C19fan]

I wonder if Weimar Germany, post-WW II Hungary, and Zimbabwe thought of this? Maybe with the Venezuelian Boliviar crashing and burning on the black market, Maduro might resort to burning worthless bank notes to keep the power on.

[Lurker]

“Only government can take a valuable commodity like paper, add ink to it, and make it worthless.” Milton Friedman.

[Opinionated Blowhard]

They have one of these in Washington DC too. Its called Congress.

[sr4402]

This article admits the Chinese do not have to obey the Carbon edicts which Obama forces on us through the EPA. They do not have to obey the Climate Change rules the UN is promulgating. Thus forcing American businesses to move to China.

DOH!

[RayChuang88]

It’s not as crazy idea as it sounds. People forget paper money have a short usable life (US dollar bills are only rated for 18 month’s usage!) and finding a way to get rid of those old bills can be an issue.

[EBH]

Well if we can just print them...which actually creates hidden taxes and devalues them...

Why not just burn them or the excess and restore value?

Right? Eye-roll...right?

[Gaffer]

I once worked in a pulp plant in Perry FL as a plant engineer. This plant was the most profitable plant in all of P&G. It made the highest quality filter paper in the world.

The chemical recovery boilers were multi-fueled. Bark, unprocessable chips, gas — whatever.

This plant was also responsible for burning every unsold Rely Tampon in the world. Coincidentally, the LEOs in Tate County used it to dispose of square groupers and the like.

On those days, one could see all the workers and engineers up on the scaffolds and workings of the superstructure conveyor belts ‘examining’ the mechanics for proper operation....:0)

[Bobalu]

Soon we all will be burning banknotes on a campfire at an Obamaville.

[BlueMondaySkipper]

How much longer before a dollar has more BTU value than purchasing power?