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View Diary: Virginia Decides Not to Follow Utah And Mint Its Own Coins (18 comments)

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  •  Coining and issuing electronic IOUs are (0+ / 0-)

    two different things.
    What ever happened to the IOUs California handed out under Schwartzeneger when it ran out of U.S. dollars?
    Presumably, the vendors accepted them and then traded them in for U.S. dollars later. It's not very different from a person writing a post-dated check for a bank account. The person who accepts the personal IOU trusts that certified IOUs will be available later.

    We organize governments to deliver services and prevent abuse.

    by hannah on Wed Feb 20, 2013 at 05:25:21 AM PST

    [ Parent ]

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