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The paper they’re printed on

Big banks will not accept California’s IOUs. Ya know, I called up my bank and asked if I could send them some IOUs instead of my mortgage payment. After they got done laughing, they pointed out that my mortgage was already one big IOU. Someone should explain that to California.

7 Responses to “The paper they’re printed on”

  1. b Says:

    yet they accept paper IOU’s issued by the federal reserve…

  2. B Woodman Says:

    And the whole economy is a huge house of green printed cards waiting to collapse.

  3. DirtCrashr Says:

    Even worse but trypical, it’s a two-tiered system favoring the politically connected. If you watch Bill Whittle’s PJ “When Politicians Go Bad” around 03:22 you’ll see that the people who get IOU’S are the general Citizenry and the needy.
    Those who need temporary assistance get IOUs, the aged, blind and disabled get IOUs, those hapless slobs in drug prevention treatment services get IOU’s — but the bloated Public Employee Retirement System gets CASH, the University of California Professoriat gets CASH, the weasel Legislators, bogus Baord Apointees, and legislative Employees get CASH…

  4. John Says:

    I’d love to see a California resident pay a state fee with an IOU.

  5. jill Says:

    all jokes aside; isn’t a state issuing IOU’s a violation of the article 1 of the constitution?

    Ok. That was a rhetorical question. It is, in fact a violation of Article 1, I think section 10. So what has to be done about it?

  6. Matt Groom Says:

    The whole IOU thing is laughable, but only until you consider that ever since we got off the Gold Standard, the dollar bill itself is essentially an IOU that doesn’t have any actual value attached to it.

  7. Les Jones Says:

    What’s a California politician’s favorite sex act? 68. “You do me and I’ll owe you one.”