Can a state opt out,via the 10th amendment, I wonder?
I for one think the odds do favor a Federal Reserve System breakdown or default. In that case, it would be prudent to have another system in place to prevent a total economic collapse.
I've come to believe the States can do just about anything their citizens will allow; federales be damned. I'm no student of history BUT IMHO our current state of affairs closely resembles pre Civil War times. A feral government crapping on the unalienable rights of SOME of the people and the Constitutional "police" power of the States. Will the feral government press the issue or will they blink? Will SOME of the States stand their ground, or will they blink? Do the American People still have the cojones that will be necessary to cowboy up? THAT is the only thing that really matters.
That said, one of the few enumerated powers of the feral government was and is the power to set the type and value of a national currency. Do FRN's qualify? Beats me. ;^)