Iou Form California To Beg Banks To Take IOU's As Deposits -- A Sign Of Things To Come ?

California to beg banks to take IOU's as deposits -- a sign of things to come ? - iou form

By Paul Craig Roberts

26th California State Controller John Chiang January announced that its California income accounts and credit lines, and that the state can exceed their own money than bonds known to print. The model is being developed.

Instead of receiving the receipt of tax refunds of state dollars, residents of California notes. Student aid and payments to disabled and needy is also in the form of promissory notes. California is bringing in negotiations with banks, bank notes and deposits into line.

California is often referred to as the eighth largest economy in the world, and broke.

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For months we heard that California in a budget crisis. But in Sacramento on Monday, lawmakers have been hard hit by the news that the government several weeks away from issuing cards. Eminent experts from the State concerning the taxation of a pessimistic view on the economy of California, said that if the legislature will act quickly, California, of cash by March.
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