Monday, November 7, 2016

What happens when..

Governor Abbott of Texas does the old:

import tradingpit as Pit
Pit.boss = StandardS&L
Pit.Coin = TexasPeso

Hr does this with the authority of the Texas legislature.  They tell him:

"Type those words and accept taxes in whatever a TexasPeso becomes".

What are the legal ramifications?  Because this immediately hedges Texas against anything malicious happening in some urine infested back alley behind the NY Fed.

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