Flutterby™! : California issuing currency?

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California issuing currency?

2009-07-15 20:26:56.540578+00 by Dan Lyke 6 comments

Well this is interesting... California Assembly Bill 1506, latest amendment:

This bill would require a state agency to accept, from any person or entity, a registered warrant or other similar evidence of indebtedness issued by the Controller endorsed by that payee, at full face value, for the payment of any obligations owed by that payee to that state agency.

Brought to my attention by John Robb. I believe that they're currently selling at a discount, if I could find a broker on that front that I'd trust I'd buy them to, say, pay my quarterlies with...

Of course there's that pesky U.S. Constitution:

Section 10. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.

[ related topics: Law California Culture Currency ]

comments in ascending chronological order (reverse):

#Comment Re: made: 2009-07-15 21:15:01.12858+00 by: spc476

Oooh … pass the popcorn! Things are getting interesting!

#Comment Re: made: 2009-07-15 23:15:58.862324+00 by: Dan Lyke

I'd gladly trade you these IOUs for a bucket o' popcorn...

#Comment Re: made: 2009-07-16 00:52:56.173552+00 by: ziffle

but but - i thought 'flutterby - ites' had found the constitution to be so -- anachronistic and passe'

#Comment Re: made: 2009-07-16 06:36:11.450684+00 by: spc476

Not me, Ziffle.

#Comment Re: made: 2009-07-17 18:37:03.124564+00 by: petronius

How many IOUs for a letter of Marque and reprisal?

#Comment Re: made: 2009-07-17 20:04:50.934774+00 by: Dan Lyke

I'm saving up for "Emperor of the United States and Protector of Mexico" as a title of nobility.