California, the eighth largest economy in the world, is broke.
"People are going to be hurt starting today," said Hallye Jordan, speaking on behalf of the state Controller. "There's no money."
Since state legislators failed to meet an end of January deadline on an agreement to make up for California's $40 billion budget gap, residents won't be getting their state tax rebates, scholarships to Cal Grant college will go unpaid, vendors invoices will remain uncollected and county social services will cease.
At least, temporarily. Services and payments will resume once state legislators come to an agreement on the budget.
"This time, there are real-world consequences," said H.D. Palmer, spokesman for the California Department of Finance, in a report by KCRA in Sacramento. "Because we have not been able to get to a budget agreement, payments aren't going to be made."
http://rawstory.com/news/2008/California_goes_broke_halts_3.5_billion_0202.html
I seem to recall reading a few days ago that California is issuing its own currency in the form of IOUs. Is this correct? It's a good idea. And if other state governments are smart, they will start straight away in developing their own currencies. Beat the rush.
The Federal Reserve Note is an IOU, too. It's a private currency, like Shell gas cards or S&H Green Stamps. Any California IOUs would be a public currency, as it properly should be.
California is in a very good position to smash the stranglehold of the single currency in this destroyed nation.
Federal agents, of course, will not like it. They will swoop in at the behest of their banker masters and accuse you of some lame offense. It is vitally important to their banker masters that you be forced to trade only in their currency. Theft by way of fractional reserve inflation cannot occur if no one's using the currency, after all.
The United States is dead. You will be escorting United States agents out of your territory under force of arms. They don't work for you, and they're no better than cops who smash gambling machines and stuff money into their pockets.
And you may rest assured that these bankers who destroyed your nation will helpfully offer you the use of some North American currency like the Amero. Run away. Bankers are thieves. If a banker is talking, it is a lie. Any gift from a banker is like a smallpox-infested blanket.
