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Sell Your California IOUs

The next big financial craze that has seemingly struck California is known as Buy and Sell your State of California Issued Warrants that will be honored sometime this fall.

Here are a few places you can sell them:

"As of July 15, the state controller's office had issued 137,000 promissory notes worth US$640 million.
Contractors and residents owed tax refunds are getting IOUs instead of cash from the state because lawmakers have not been able to close a US$26.3 billion deficit."

This is a massive marketplace and it will be interesting to see what companies cash in. I'm suprised some of the bigger banks haven't gotten in on the marketplace as well as it always seems they are doing things like this. Or even better the check cashing places would be a more ideal fit as they are slightly more crooked than the big banking industry.

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