IOU's....The New Currency ....?

http://www.bloomberg.com/apps/news?pid=20601087&sid=adRTR2nxQsaI


Why not ....?

 

Can we pay our taxes with IOUs?

 

IOUSA


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Great post!

Do any of you guys know how far is the Gov's debt from the point where the treasuries go to AA?

 

One Financial apocalypse away

Under the present framework i guess something like that would never happen. It would precipitate the collapse of the rating system too.

 

so what is Cali's credit rating? I don't have time to look it up. I wonder what my company's would be if I strated paying my bills with i.o.u's.

 

So.... CA sends you an IOU. Can you use that IOU to pay next year's estimated state income tax, or property tax?

 

Actually, I checked not long ago and the magic # was something like 12.5 Trillion or something like that...

 

Lol, what you really want is for spreadtoGov to be replaced with spreadtoKrauts isnt it

 

The California goverment has found a way to print its own money.