It’s just borrowing. California already did it in ‘08. They paid state employees in IOUs which traders in the market then purchased at discount to encash. https://money.cnn.com/2009/07/02/news/economy/California_IOUs/ …
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Oh, read the whole story: CA couldn’t make payroll so issued IOUs. Fed flipped, fixed CA cash issues then prosecuted any/everyone who was using said IOUs to pay bills on securities violations. It was ugly. Same when Argentina did something similar. Feds like that monopoly.

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No pretty sure the constitution prohibits that. I think Berkeley tried to do some blockchain bond a while back and it ran into road blocks.
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if they could, gresham's law would intervene
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And drive more people to Bitcoin and Ethereum
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Well, certainly not Illinois!
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