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To: Crusher138
In response a state - let’s say Texas - decides to protect their citizens’ finances by issuing a gold based currency that works “side by side” with US dollars. The stability of this new currency leads many to cash out and buy Texas Lone Stars.

They cannot do that. The US Constitution specifically prohibits a state from producing currency.

If such a thing is attempted, I predict that the power blocks in the North East (and now elsewhere) in whose interests this Federal spending fountain has been gushing for the last century and a half or so, would launch an immediate war through their agents in control of FedZilla.

If you dare expose the Ponzi scheme they have created by their support of borrowing and spending Federal policy, they will attack you with everything they've got, which means everything the Federal Government has, plus the New York based media system.

113 posted on 08/31/2016 8:52:01 AM PDT by DiogenesLamp ("of parents owing allegiance to no other sovereignty.")
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To: DiogenesLamp

There are pretty good arguments to be made that the current financial system is unconstitutional. It is a very complicated discussion with contradictory Supreme Court decisions.

Article 1, Section 8, Clause 5 of the Constitution is often used to say that States are prohibited from producing currency, but the whole and entire clause says that Congress shall have power...

“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”

An argument could be made that this doesn’t specifically prohibit States from coining money. It clearly gives Congress the right to coin money, but it doesn’t expressly prohibit States from doing so.


152 posted on 08/31/2016 11:18:16 AM PDT by Crusher138 ("Then conquer we must, for our cause it is just")
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