private currency proposal
So I was listening to NPR last night and they were discussing the economy of the state of California, which is still recovering from having "the smartest guys in the room" beat it up and steal its lunch money a few years ago.
Apparently CA has frozen all new infrastructure projects because it doesn't have USD to pay for bridge repairs and so on.
Declaring a private currency could help out.
The new currency ("California Advance Tax Credits" or something like that) would earn interest on themselves and would be acceptable as payment instead of USD whenever Californa state taxes are due.
The state then offers to pay contractors in CATCs instead of USDs and hey presto, no more crunch.
Contact me directly if you represent the state of California and would like to set this up, I have all the software designed to make it happen.
update: july 2 2009. Apparently they're called "registered warrants" and they're supposed to turn into USD by October.
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