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Califonia to print it own money!

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Califonia to Print Own Currency in Form of IOUs?

By Paul Craig Roberts

January 28, 2009 "Information Clearinghouse" -- California State Controller John Chiang announced on January 26 that California’s bills exceed its tax revenues and credit line and that the state is going to print its own money known as IOUs. The template is already designed.

Instead of receiving their state tax refunds in dollars, California residents will receive IOUs. Student aid and payments to disabled and needy will also come in the form of IOUs. California is negotiating with banks to get them to accept the IOUs as deposits.

California is often identified as the world’s eighth largest economy, and it is broke.
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http://gold-report.blogspot.com/2009/02/ca...cy-in-form.html

MonopolyMoney.jpg


I wonder how well this is going to work.
 
Even in gross default, your legislature can't let go the spending. How long till we get there at the Fed level? Credit markets are drying up and the printing press will only go so far.
 
This is actually no joke. The governator has screwed up this state beyond repair, now we're not getting tax refunds this year. We may get them in the form of an IOU. Maybe I should file my taxes in the form of an IOU to the governator and see how he likes that. California ain't the Golden State any longer. Wait until Hollywood moves out of California, it's starting to happen...
 
Any Texas BOTL looking for a roommate? :laugh:
 
Colorful Colorado, bubba! We're only forecasting $100 million shortfall in the current year's state budget. The Gov is taking steps to stay even. Part of the plan is to raise taxes, though. His name is Ritter, so his new nic is "Tax" Ritter.
 
This is outstanding! Clears the way for me to start printing $SS.
 
Appears to me that too many people up in Sacramento have been riding the B & O Railroad for way too long
 
Rod said:
This is actually no joke. The governator has screwed up this state beyond repair, now we're not getting tax refunds this year. We may get them in the form of an IOU. Maybe I should file my taxes in the form of an IOU to the governator and see how he likes that. California ain't the Golden State any longer. Wait until Hollywood moves out of California, it's starting to happen...
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Hollywood can move over here to MI. Were giving them one hell of a tax break. We could use the jobs.
 
Rod said:
This is actually no joke. The governator has screwed up this state beyond repair, now we're not getting tax refunds this year. We may get them in the form of an IOU. Maybe I should file my taxes in the form of an IOU to the governator and see how he likes that. California ain't the Golden State any longer. Wait until Hollywood moves out of California, it's starting to happen...
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I was having a conversation with my friend about writing IOU's to the state. I'd love to see a court case. "Your honor... You don't arrest the state when they owe me money, why should you arrest me when I owe them money?" Obviously it's not something anyone with half a brain would do, but a funny thought.
 
Rod said:
This is actually no joke. The governator has screwed up this state beyond repair, now we're not getting tax refunds this year. We may get them in the form of an IOU. Maybe I should file my taxes in the form of an IOU to the governator and see how he likes that. California ain't the Golden State any longer. Wait until Hollywood moves out of California, it's starting to happen...
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Bro, the owner of this site has been very clear that politics aren't to be discussed here.
 
Roy R. Frush said:
Rod said:
This is actually no joke. The governator has screwed up this state beyond repair, now we're not getting tax refunds this year. We may get them in the form of an IOU. Maybe I should file my taxes in the form of an IOU to the governator and see how he likes that. California ain't the Golden State any longer. Wait until Hollywood moves out of California, it's starting to happen...
Click to expand...

Bro, the owner of this site has been very clear that politics aren't to be discussed here.
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:laugh:
 
Roy R. Frush said:
Rod said:
This is actually no joke. The governator has screwed up this state beyond repair, now we're not getting tax refunds this year. We may get them in the form of an IOU. Maybe I should file my taxes in the form of an IOU to the governator and see how he likes that. California ain't the Golden State any longer. Wait until Hollywood moves out of California, it's starting to happen...
Click to expand...

Bro, the owner of this site has been very clear that politics aren't to be discussed here.
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Awww, damn! You beat me to it!
 
Get ready for a BIG state income tax increase!

the state takes less than 200 bucks from me in an average year
too bad all the state money is spent down south where most of the people are.....

I still say split CA in half above SF, we could have Santa Rosa as our Capitol :sign:
 
Aeroscott said:
Get ready for a BIG state income tax increase!

the state takes less than 200 bucks from me in an average year
too bad all the state money is spent down south where most of the people are.....

I still say split CA in half above SF, we could have Santa Rosa as our Capitol :sign:
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Fine by me, you can have the governator. :D
 
Roy R. Frush said:
Rod said:
This is actually no joke. The governator has screwed up this state beyond repair, now we're not getting tax refunds this year. We may get them in the form of an IOU. Maybe I should file my taxes in the form of an IOU to the governator and see how he likes that. California ain't the Golden State any longer. Wait until Hollywood moves out of California, it's starting to happen...
Click to expand...

Bro, the owner of this site has been very clear that politics aren't to be discussed here.
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BURNNNNN!!!! :laugh:
 
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