Can states in the US issue their own money ?

[rupol2000]

Can states in the US issue their own money not backed by the federal dollar?

 

[Anomalism]

No.

That's a recipe for sedition.

 

[Moonglow]

Can states in the US issue their own money not backed by the federal dollar?

No.

 

[rupol2000]

No.

Is there a specific federal reserve monopoly law?
Why are there multiple banks? How are these banks distributed by regions?

 

[Moonglow]

Is there a specific federal reserve monopoly law?
Why are there multiple banks? How are these banks distributed by regions?

Yes, it is called the Constitution.

 

[rupol2000]

Yes, it is called the Constitution.

not

Federal Reserve Act - Wikipedia

en.wikipedia.org

 

[Moonglow]

not

Federal Reserve Act - Wikipedia

en.wikipedia.org

The Constitution is the basis...
The Constitution contains only two sections dealing with monetary issues. Section 8 permits Congress to coin money and to regulate its value. Section 10 denies states the right to coin or to print their own money.

Money and the Constitution​

rug.nl
http://www.let.rug.nl › a-brief-history-of-central-banking

 

[shockedcanadian]

Do states and municipalities offer food stamps and/or food vouchers?

 

[rupol2000]

The Constitution is the basis...
The Constitution contains only two sections dealing with monetary issues. Section 8 permits Congress to coin money and to regulate its value. Section 10 denies states the right to coin or to print their own money.

Money and the Constitution​

rug.nl
http://www.let.rug.nl › a-brief-history-of-central-banking

OK. But there is a hole in the law.
It says nothing about the monopoly of the feds.
This means that private banks in the states can issue money in the interests of the states and under the protection of the state governments.

 

[Moonglow]

Do states and municipalities offer food stamps and/or food vouchers?

They do this from federal centers. The local ones are usually non-profits that offer you food or clothing, some help you pay for electric, rent, or gas to get to work.

 

[Moonglow]

OK. But there is a hole in the law.
It says nothing about the monopoly of the feds.
This means that private banks in the states can issue money in the interests of the states and under the protection of the state governments.

The federal reserve is the nation's bank and bankers and it is both federal and private.

 

[Moonglow]

Banks have several specs like if they are federal banks, state banks or local-only banks.

 

[Oddball]

Can states in the US issue their own money not backed by the federal dollar?

No.

Article 1, Section 10...

"No State shall... coin Money; emit Bills of Credit (i.e print currency); make any Thing but gold and silver Coin a Tender in Payment of Debts;...."

The power to coin money, and issue currency redeemable for such, was meant to be an exclusive federal power.

The Federal Reserve Act cynically usurped this power to "coin money" ("money" being defined as coin) by allowing a private banking cartel (The Fed) to issue worthless commercial fiat script and call it "money".

 

[rupol2000]

Banks have several specs like if they are federal banks, state banks or local-only banks.

How centralized are they? Can local banks issue money without permission from the federal reserve?

 

[Moonglow]

No.

Article 1, Section 10...

"No State shall... coin Money; emit Bills of Credit (i.e print currency); make any Thing but gold and silver Coin a Tender in Payment of Debts;...."

The power to coin money, and issue currency redeemable for such, was meant to be an exclusive federal power.

The Federal Reserve Act cynically usurped this power to "coin money" ("money" being defined as coin) by allowing a private banking cartel (The Fed) to issue worthless commercial fiat script and call it "money".

Yes, the same thing Britain did to expand the economy for the industrial revolution and capitalism..

 

[Moonglow]

How centralized are they? Can local banks issue money without permission from the federal reserve?

Issue as in loan monies or create monies?

 

[Moonglow]

How centralized are they? Can local banks issue money without permission from the federal reserve?

The feds are supposed to monitor the banks and they make regs along with other agencies and set the interest rate and whether to release money or tighten the amount in circulation.

 

[rupol2000]

No.

Article 1, Section 10...

"No State shall... coin Money; emit Bills of Credit (i.e print currency); make any Thing but gold and silver Coin a Tender in Payment of Debts;...."

The power to coin money, and issue currency redeemable for such, was meant to be an exclusive federal power.

The Federal Reserve Act cynically usurped this power to "coin money" ("money" being defined as coin) by allowing a private banking cartel (The Fed) to issue worthless commercial fiat script and call it "money".

In the Federal Reserve Act, there is a difference between the concepts of a national bank and a federal bank. What is the difference?

 

[rupol2000]

Issue as in loan monies or create monies?

It is the same.

 

[Oddball]

In the Federal Reserve Act, there is a difference between the concepts of a national bank and a federal bank. What is the difference?

One being 100% controlled by the central gubmint, the other being a separate -but parallel- entity.