California IOU's trading on E-Bay
- Thread starter grannysoo
- Start date
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Jogeephus
Well-known member
Pretty smart move on their part. I wonder how many people are now left with a worthless piece of paper that they cannot redeem. Could this be a harbinger of something bigger yet to come?
Jogeephus
Well-known member
Lammie":3dtpcljo said:
Ok Wimpy. :lol2: :lol2: Thought it was Thursday though.
john250
Well-known member
Tuesday. Pretty sure.
Notice that the state requirements establish reporting requirements. Thus, sale of a state IOU will be appropriately taxed. I don't know whether to laugh or cry. :cowboy:
Notice that the state requirements establish reporting requirements. Thus, sale of a state IOU will be appropriately taxed. I don't know whether to laugh or cry. :cowboy:
Jalopy
Well-known member
The "Golden State" is now the "Gold-Less State", or so it seems. I doubt anyone will sell on Ebay yet as there are at least two banks that will allow deposits of the IOU's as cash at least until Friday the 11th. So why would anyone take less than 100% for them at this point?
1982vett
Well-known member
Same one's that exchange food for whatever.Jalopy":7b9segk4 said:
gimpyrancher
Well-known member
The trick is to buy them at a discount and pay your taxes with them.
Jalopy
Well-known member
1982vett":23vmroae said:
I am not sure of the reference that you are making. What I was referring to was that Bank of America and Wells Fargo both allowed that they would accept the IOU'S as same as cash for deposit until Friday. After that I assume they are not going to back the California State coffers.
As for GRanchers suggestion of using them to pay taxes it seems logical to me that they would have to accept them. Therefore they probably wouldn't. :lol2: :lol2:
