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Move Over Fed, California's Now Printing Its Own Money
Seeking Alpha ^
| July 02, 2009
Posted on 07/03/2009 3:14:41 AM PDT by mylife
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But hey, the recession is easing...
1
posted on
07/03/2009 3:14:41 AM PDT
by
mylife
“will you take a registered warrant?”
2
posted on
07/03/2009 3:17:08 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: mylife
Get out your wheel barrows! It’s time for Arnie Bucks!
3
posted on
07/03/2009 3:20:21 AM PDT
by
spikeytx86
(Pray for Democrats for they have been brainwashed by their fruity little club.)
To: spikeytx86
Soon to be “little orphan Arnie”
4
posted on
07/03/2009 3:21:24 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: mylife
These sound more like junk bonds than currency.
Once my severance runs out, I’m going to start paying in MoleMan money. That’s a currency you can bank on. (Well, you could burn it on a river bank to keep you warm.)
5
posted on
07/03/2009 3:21:34 AM PDT
by
MediaMole
To: spikeytx86
I went to pick up some tuna for my dawg yesterday.
It was like 50c to 75c a can... Now? $2.09 a can.
Here comes inflation.
6
posted on
07/03/2009 3:24:03 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: MediaMole
7
posted on
07/03/2009 3:24:41 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: mylife
And yet, with all of this, does anyone think the damned DemocRATS will seriously consider cutting spending?
Not a chance!
8
posted on
07/03/2009 3:25:22 AM PDT
by
Jimmy Valentine
(DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
To: Jimmy Valentine
I Predict Obama calls for yet another “stimulus”
Kinda like in the cartoons when they hold you upside down and shake you to get the “change” in your pockets.
9
posted on
07/03/2009 3:28:22 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: mylife
So the IOUs are like Savings Bonds? Can individuals buy them, or just banks? (Not that I would want to invest in anything the California government has control of)
Maybe this isn't such a bad idea. In fact, why not raise taxes, with the provision that the additional tax would be repaid in full, plus a certain amount of interest, within a certain period of time? I have a feeling that most people would not mind paying the extra taxes quite so much, if they knew they would get it back with interest, in a few years. Of course, I would much rather see the state cut wasteful spending, but how likely is that to happen? Even if by some miracle we elected a Republican majority, they would never have the cajones for that.
10
posted on
07/03/2009 3:31:15 AM PDT
by
giotto
To: giotto
It is my understanding that they will only be issued to banks and businesses.
11
posted on
07/03/2009 3:32:21 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: mylife
Thank you. Wow—fast reply.
12
posted on
07/03/2009 3:34:00 AM PDT
by
giotto
To: giotto
13
posted on
07/03/2009 3:35:06 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: mylife
La Raza and the ReConquista’s have won and no one sees it.
14
posted on
07/03/2009 3:35:35 AM PDT
by
knarf
(I say things that are true ... I have no proof ... but they're true)
To: mylife
I Predict Obama calls for yet another stimulus Kinda like in the cartoons when they hold you upside down and shake you to get the change in your pockets. |
Stimulus = Stealfromus
To: Stand Watch Listen
16
posted on
07/03/2009 3:37:19 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: knarf
Yeah but now we have Pollo Loco’s on every corner!
17
posted on
07/03/2009 3:37:59 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
To: mylife
Will these California things survive an Article I test? These notes may fall under the several things that States bound themselves under Article I not to do, including the prohibition against making anything but United States money (or "gold and silver") legal tender.
IOW, California can't do this?
To: mylife
I would like to know how federal banking law and regulations restrict federal and state chartered banks in their treatment of these IOUs. They are not “money” so if a bank accepts an IOU must it essentially buy it from the customer in exchange for real money. Will the bank discount it as was done in the old days? And is the bank restricted in doing this? Also, a California IOU cannot possibly be covered by FDIC insurance, I would think.
19
posted on
07/03/2009 3:41:58 AM PDT
by
Aldebert
To: lentulusgracchus
20
posted on
07/03/2009 3:44:48 AM PDT
by
mylife
(The Roar Of The Masses Could Be Farts)
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