The name of the writer does go with the level of logic which exists in the article.
“Now, states won’t call this currency. The U.S. Constitution prohibits states from coining their own money. And the National Banking Act of 1863 bans state banks from issuing money, too.
But there’s a loophole in the law. States can issue bonds backed by revenue.”’
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Yeah...I can see some problems with this author’s logic too. There’s no way that the Supreme Court will allow the Banking Act of 1863 to be bypassed by this “loophole”. There will be a Federal lawsuit and these lower denomination bonds will be considered state-issued currency.
There is simply too much Federal leverage lost when they do not have control of the effective Money Supply.