I've been looking back at my copy of the U.S. Constitution and have been doing some highlighting... So this should be the first a few threads I'll be posting up on here. My guess is that I'm just going to need some historical context and things should become clear.
Now I know that the passage in Art. I, Sec. 10 is regularly used by us in citing the invalidity of FDR notes in payment of legal tender.
No State shall...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts...
However, Art. 1, Sec. 8 states that
The Congress shall have Power... To borrow Money on the credit of the United States...
Clue me in on how such a system would work in which states are prohibited from printing money yet the federal government be able to borrow money on U.S. assets?
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