Democratic (socialist/fascist) Controller John Chiang, of the republic of california, orders the printing of more than 53,000,000 “dollars” in “registered warrants” (Bills of Credit) because it lacks the Federal Reserve Notes (Bills of Credit) to pay state residents their income tax refunds.  The RWs, commonly called “IOUs” (I owe you) are not legal tender, and may not be used in lieu of FRNs owed to the state treasury.  This makes california the first state since the War of Federal Aggression to issue its own promissory notes.

       Postscript: Three weeks later the republic of california had issued a total of 724,700,000 “dollars” in “IOUs.”

       [added 12/5/2021] Thanks to G. Edward Griffin for this entry.