CA IOU Update
6. Will my financial institution honor a registered warrant?
Recipients of registered warrants should contact their financial institution to determine whether they will honor the registered warrant before the redemption date.7. What happens if my financial institution will not accept the registered warrant?
You may decide to open an account at another financial institution that will accept registered warrants, or you will have to hold the warrant until it matures on October 1, 2009.
Yeesh.
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Maybe these will become the new world currency. I can see a lot of these being printed from California.
Comment by Henry — 7/1/2009 @ 4:44 pm
Yes, a California Warranty. The new name for “cash” in California. They can’t print cash, so they will just print their own version of it.
All you vendors that are supposed to accept these in lieu of cash–you might want to look for another contract…
Comment by Maria — 7/1/2009 @ 6:52 pm
Now we’ve got ‘the world’ (IMF) issuing bonds. With everyone in the world up to their eyeballs in debt, who’s doing the lending?
Kinda like the advertising glut — if everyone is selling ads, who’s left to buy them?
Comment by BMB — 7/1/2009 @ 7:04 pm