
A MUST READ! There hasn't been real money in such a long time it's not even funny. It started years ago when the government demanded silver be turned in to the Treasury for melting. This was to fund the government. Then the demand for gold but that was supposed to fund WW II. Printed money, at first, was redeemable for gold upon presentation to a bank. That stopped (I don't know why). Then paper money could be exchanged for silver. Now, it's a reserve note, which means it's backed by the bullion held at Fort Knox. Now there's nothing really tangible in your hand like gold, silver, platinum or palladium. We can only hope there is sufficient gold to undergird the paper money. I don't know how California survives being in the red financially nor do I understand why institutions cash California's government checks. They have nothing to support the worth of the check that's written (old saying, it's not worth the paper written on). When you don't collect enough money to pay the bill, why in the world would you honor and cash it? It eventually will be bankruptcy for the state. There's no other option. Just another reason for California citizens to leave the state!
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