Investors. You need to broker our CA “registered warrants”

For all those investors who are taking their money out of the market perhaps you might consider acquiring some of the state’s “registered warrants.” That would be a very patriotic act as we approach the 4th of July. In fact having a 2009 California “IOU” might become a collectors item that you can pass down to your grandkids.

As of now, the only bank that has agreed to accepting the “IOU’s” is B of A. They have agreed to honor the California “registered warrants” thru July 10th.  Although I do not know the current interest rate, in 1992 the rate was set at 5% which was the maximum permitted by law.
Are you a gambler? As we are lucky to get two to three percent in local CD’s, perhaps we should contact the “big five” and offer to bail them out.


About Larry Gilbert