[ALPAPilot]

California’s ingenuity poses an interesting dilemma for the Fed. The IOUs would be structured as short-term tax-free bills, but trade like cash. Banks are being asked to accept the IOUs and advance customers interest. Should the Fed sanction alternate forms of money?

If they are traded like cash, this is clearly unconstitutional: it was declared such in 1830 Craig v. Missouri. The Fed notwithstanding, this was forbidden the states period. The "Consent of Congress" begins the next clause.

[MrB]

It sure has gotten to the point where they just consider the written law to just be a minor impediment to what they really want to do - they just go ahead and do it.

[mylife]

We’ll see how it all plays out.

This administration has demonstrated over and over that it has NO regard for the constitution.