California runs out of money - will issue IOUs

[spikeS1983emp]

The IRS is scary

[ClutchFan1971]

It's like calling in to Morgoth!....LMAO!!!

[westchesterny]

Your vids always make me laugh. I wish we could move to another planet. Very good Q here. Oklahoma sounds better than the metropolis pissholes, like CA, NY, FL, DC, at least. I have known so many extremely intelligent, competent, reliable, educated people who are unemployed, underemployed, or too moral to do the work that is out there. It's really astonishing to listen to some of the calls you make. Best to you.

[Filmmusiccomposer]

I would like to say "Thank you" to California, for having your priorities in order.

I received my IOU the other day, and though I am self employed and desperately need that money to buy food and put gas in my car, I am much relieved that you chose to spend it on Michael Jackson's memorial.

[zappyhod]

....That's from "The Federal Reserve" by the way...

[zappyhod]

.....And this...These warrants will not be subject to the normal, federal check-hold limits and therefore could be subject to extended holds.

[zappyhod]

Here's the thing..Even if these IOU's don't bounce and you get your money...The State of California will likely return unpaid any registered warrants that it receives before the payment date. Therefore, depositors of these warrants may be subject to returned-deposit fees if their banks attempt to collect these warrants before they are payable. In addition, if customers rely on these funds to make other payments, they may be subject to overdraft or bounced-check fees if the warrants are returned.

[deadman12078]

Can I pay my taxes in IOU's?  Sweeeet

[tuktukktotam]

same scenario as collapse of soviet system in 1990

[tuktukktotam]

do not worry government has it covered , they will pay you latter with devalued dollars and everything going to be just fine Schwarzenegger already stated prepare top work for free for 6-8 months hoping someday to get paid or get fired :)

[NOMCCBAMA]

LMAO

[rad4life1]

haha! briliant! get out of CA if you want to pay the federal income tax in $ lol

[Wcoltd]

you don't owe taxes on an accounts receivable, that is, you do not have to declare the IOU as income until you actually convert the IOU to money.

[sphindog]

But California doesn't have any money, therefore the IOU is worthless...Hey, wait a minute, the Treasury doesn't have any money either...does that make our dollar worthless, too??? OF COURSE IT DOES!!! Well...not completely worthless. It's not as soft as charmin, but it may have to do the trick in a couple months!!!

[Wcoltd]

I would bet that the treasury has terrific wealth in various forms of equity, it has the largest gold reserve in the world (if you combine gov't reserves with reserves of the Federal Reserve assuming that all proceeds for the sale of gold would be sent to the treasury via the 100% tax rate), government properties, and even, if necessary, it could sell weapons technologies. So the treasury, one could argue, has more "worth" than any other institution in the world.

[NOMCCBAMA]

to bad the fed is owned by mostly foreign bankers, not the US government.

Watch this

watch?v=NYNDBPijJOw

[sphindog]

I didn't say that the Treasury didn't have wealth, I said that they didn't have any money. Many of us have "worth," but no money. California has "worth", but no money. That type of "worth" is the kind of "worth" that got us into this problem to begin with. Besides, the Federal Reserve is a private institution. To assume that we can just "combine" their assets with that of the Treasury is another problem that is sinking us fast.

[sedro32]

lol it happened again the day before yesterday..lmao..wow only if marijuana was legal, that state would strive

[slimjim6666666666]

If owed tax would irs accept IOU dated the 10-10-2109? If its good enuff for them..

[beancube2008]

Conservatives is trying to make people suffer after people pick change last elections. When people are in pain, some of them want to go back to previous states of not knowing resource economy. What drags you into being manipulated? You haven't tried to redefine capital to benefit most people. The small groups in power just take everything you can't build with other people. So no one helps. Check school if they teach protection or brainwashed you into this.

[daveordiane]

Soviet Union RIP 1991

USA RIP 2009

[ramzpaul]

Looks like you are doing a RAMZPAUL marathon. Think you can handle it?

[ramzpaul]

Avalanche Hockey team.

[DMCpro6944]

Hasta la vista baby !! II'L be back!!!

[combatvetdoc]

California is liberalism at it's conclusion, and THIS is what Obama wants for the rest of the US?? They need to try rounding up all those illegals in their sanctuary cities and their budget would drop 20%~~~!!!

[pinkcheesegreengh0st]

Pay those Mother F'ers with an IOU and see how fast your azz ends up in jail. It should work both ways. WTF

[firestartersRus]

YAY! Maybe California will finally release those foster kids they have languishing in their group homes while they have perfectly good families out of state! I hope the social wreckers lose everything they have, become homeless, get sodomized and die and go to hell.

[VenusBlue4u]

Good point...anyone who owes CA for fines or penalties should send the state IOU's.

[florgat91]

what is happening here ? is this about Russia invading California like they did Georgia ? Florida ?

[peeps33]

That was so good. I love it!

[disasterpastor45]

I would declare an IOU is not income until it is redeemed for FRN.

[disasterpastor45]

Food Stamps are not income and they are never legally redeemed into FRN. No taxes paid on FS, and no taxes paid on Food bought with FS.

[Wavarian]

Avs fan huh? Me too.

[ramzpaul]

Yeah... I was in Colorado when they won the Stanley Cup.

[Ipluckithard]

Now I am forced to add smart-ass/trouble maker to my list.

[SirFrancisDashwood15]

You gotta stop pluck'n your clit so hard. You do know that'll make a young girl like yourself go crazy.

[aweiss]

good video lol

[Truth0rDeath]

Maybe we could give them IOU's in the form of bullets. Bet we'd get our money back then.

[MaxSachs]

Shiet, talk about wealth transfer...whatever this is left anyway. They'll pay you in IOU's but you pay your taxes with real wealth (car, RSP's + other saves, homes).....

[chrisvet1]

lol!!!

Definitely a bad boy paul.

[offthahook08]

It will effect you if California falls we all fall.

[Truth0rDeath]

That's what they want isn't it?