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Sometimes you can. A decade or so ago when California ran out of money, they issued warrants to their payees, and lots of banks accepted those at face value.
by nocoiner 11mo ago
Sometimes you can. A decade or so ago when California ran out of money, they issued warrants to their payees, and lots of banks accepted those at face value.
- dragonwriter 11mo agoLast time was July-August 2009 (and before that in 1992 and 1933.) But those registered warrants aren’t abstract expectations of future payment, but debt instruments with a fixed interest rate when issued.