Who Doesn't Love Virtual Currency?

As the creditors of the State of California begin to receive IOU documents rather than checks, because the fiscal year has begun without a resolution to the budget crisis in the legislature, online speculators are seeking to buy up the notes promising future payment in hopes of cashing in on interest, despite the fact that the state's credit rating has dropped to BBB status.

According to "Wanted on Craigslist: California IOUs," people posting to the megasite for online want ads are looking for the state's registered warrants. Given the scope of transactions for other kinds of virtual items on the site, including game currency and inventory items for everything from World of Warcraft to Mafia Wars, this emergent economy is hardly surprising.