Ious

How California Could Turn Its IOUs into Dollars

Ellen Brown | Posted 08.22.2009 | Business


Ellen Brown

If the state were to deposit its money in its own state-owned bank, it could have enough credit to solve its budget crisis with funds to spare.

Towards a Solution to the Debt Crisis in California: The State Could Walk Away and Create Its Own Credit Machine

Ellen Brown | Posted 08.14.2009 | Politics


Ellen Brown

California could put its revenues in its own state-owned bank and fan these "reserves" into many times their face value in loans, using the same "fractional reserve" system that private banks use.

California Dreamin': How the State Can Beat Its Budget Woes

Ellen Brown | Posted 08.08.2009 | Business


Ellen Brown

The world's eighth largest economy is not going quietly into that pit of debt and devastation that has devoured Third World countries whole.

California Budget Squabbling: Schwarzenegger 'Broke' The Budget, He 'Should Fix It'

AP/Huffington Post | Posted 08.02.2009 | Politics


SACRAMENTO, Calif. -- California's controller will start paying many of the state's bills with IOUs as soon as Thursday after lawmakers failed to clos...

California Misses Deadline, May Now Have To Issue IOUs

AP | JUDY LIN | Posted 08.01.2009 | Politics


SACRAMENTO, Calif. — States from coast to coast began a new fiscal year Wednesday with no budget plans and with cash quickly running out, sendin...