California is using IOU’s (aka: Ahnolds) to pay people. Most banks in the state are refusing to accept these IOU’s in exchange for official US currency.
But that is OK, if you owe the government of the State of California money, the government will allow you to pay said debt out of your fat stack of Ahnolds.
Garbage out. Garbage in. Now that’s Change!
So you can set up a shop to exchange these “warrants” for $.65 on the dollar, then sell them to taxpayers for $.75 on the dollar… what’s to stop them?
This is all going to end very badly.
It’s California. It passed badly about 20 years ago.