posted on Feb, 24 2009 @ 09:23 AM
More and more states introduce some form of 10th Amendment Bill. They are basically telling the federal government to back down. On the other hand
those same states are willing to receive (stimulus) money. You might argue that money was taking from their citizens and they want to get as much back
as they can.
But it got me wondering.
Is it possible (legal) for a state to introduce their own currency. I think the state that does, and makes sure the money is backed by gold/silver
will benefit tremendously.
Lets say a Texas Dollar (TXD). Texans exchange their USD for TXD. The state uses those USD to buy silver and gold. Texas would then not be affected by
the defaluation of the USD. People from all over the US would want some of those TXDs, they would pay the state of Texas in USD, and the state will
then buy Gold and Silver using those USD. That would allow the state to issue more TXD.
If the state needs to pay for something in USD they simple exchange some TXD for USD according to the current rate.
What are your thoughts about this? Would it be possible?