OMG! California Printing IOU's - Just like the FED!!!!! this is the answer

[Lamarr]

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While I despise Schartzeneggar, this is the answer to break the grip of the Federal Reserve. Creating your own interest-free notes, just like Lincoln. Ask yourself one question: Why do we, as a nation, have to pay interest on the national debt? A competing currency by default

Seriously, what do ya'll think?




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[Cruise]

I don't see how California issuing IOUs can be considered money, when Federal Reserve Notes are not money.

The Federal Reserve Banks have a system of credit, not MONEY.

So, I don't see how California IOUs change or challenge the FED's power at all.

If anything, I think it reinforces the power of the FED.

Now, if California had gold and silver backing of their IOUs and issued gold and silver coins...

NOW we'd be talking a threat to the FED.

As it is now, California is just broke. They need to permanently shrink their government.

 

[Gifted&Afrikan]

The video says Cali is about to print debt free money and that's just not true. Notes whether they be IOU's or FDR's are instruments of debt, promises to pay and not lawful money. I'm not saying they aren't money because they are and money is simply a "medium of exchange" in regards to its basic definition but IOU's aren't debt free. Most people don't know when you sign a contract/promise to pay for a loan that under U.S. law when the bank accepts that contract/promise to pay it's considered money. The U.S. is bankrupt and has no lawful money only instruments of debt and promises to pay and the U.S. citizens were pledged as collateral for the debt to the bankers. In reality people pay for shit twice plus interest. All the bank does is get FDR's from the Fed using your promise to pay and they don't loan you any of their money and they simply create checkbook money/credit. I know I got way off topic but Cali aint bout to change shit & don't think for a second that the politicians don't know about the Fed, if anything in government is gonna be changed for the better it's gonna have to come by way of the people. We do need to print our own money but it has to be backed by something so it can't be manipulated at a high level.

 

[Gifted&Afrikan]

Local Communities With Their Own Currencies

This can be used to help keep the money in local communities supporting local small businesses. It'd be good to have system like this in place as a backup especially with the economy being fucked up right now.

 

[Partial_Mathers]

Yea, printing IOUS means nothing. California is still circling the drain. If they started their own State Bank, like fiscally solvent North Dakota, then they'd have a chance.