Has anyone in California tried to go buy a Porsche using an IOU? I understand that this has become legal currency out there.

 

My IOU is on Craigslist...please buy

 

Sure, how about I write you one for your pcar... $100k good with you?

 

It's funny how the government is all upset that the big banks will not accept these scaps of paper that promise to pay under 4% interest. The goverment does not even qualify for bonds or loans at rates that low and they are simply trying to circumvent the credit system.

 

it is my understanding that PCNA will gladly issue you an IOU for a Porsche, if you qualify....anyone know the exchange rate for the Kalifornia IOU vs. the Euro?

 

you know... thinking about it.... that's all a personal check really is anyway. LOL

 

except that you and I actually have cash in an account to cover that check..big difference...

 

Well.... not really. A personal check like any other check is an order to the maker's bank to pay money to a specified payee on demand. Whereas an IOU is essentially a promise to pay money in the future.

 

Speaking of which, what's the car tax situation out there these days?
If you have, say a 2007 C2S that stickered at $100k even, what do you have to pay California every year?

 

If you knowingly issue a check without funds to cover, most States can charge you with "Deceptive Practices" which is often a class 3 felony. If you are a government, you will be charged with fiscal creativity.

 

Yes, one would hope so-

 

I would vote for CA to go bankrupt then everything will start all over.

New contact for slow-moving state employees. No more union directed laws. No more fat check for state officials.

I can only wish.

 

If you paid $100K then license fees are about $1200/year

 

Yeah too funny!