I don’t think so. Gold & silver are Constitutional money, states are barred from issuing their own money.
Nothing says federal can’t issue money, and they do. Nothing says states can’t go back to gold and silver as money, which some red states will if the Fed screws up the US dollar. However, there were instances in the past when US caused very high inflation having to pay for wars, and it did not happen. It was on bimetallic standard then, and eventually returned to it. I don’t see stablecoins and crypto as money unless it’s the digital dollar issued by US Treasury. I agree states may choose to revert to using gold and silver by making gold and silver coins if the faulty monetary policy leads to high inflation for a substantial time period.
US Constitution.
Article I Legislative Branch- Section 10 Powers Denied States
- Clause 1 Proscribed Powers
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
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