Post subject: Re: California to start printing money
Posted: Tue Feb 03, 2009 8:09 pm
Junior Forum Member
Joined: Fri Oct 31, 2008 6:47 pm Posts: 174
From the article in the posted link:
"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."
Wonder if utility companies out in CA will accept these IOU's as payment...doubtful...
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