> But clearly this defies common sense about the intent of the law which was to prevent the government from printing unlimited money not tethered to any scarce asset to inflate away its true debt...
That is a really, really strained interpretation of this clause. Because these exact words are used to give these powers to other entities in government:
Article I, Section 8, clause 5: [The Congress shall have Power] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
Article I, Section 8, clause 11: [The Congress shall have Power] To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;
Article II, Section 1, clause 2: [The President] shall have Power, by and with the Advice and Consent of the Senate, to make Treaties, provided two thirds of the Senators present concur
Some of the other things forbidden with "No State" are also expressly forbidden to Congress itself. How is it common sense that "No state" also includes "the federal government" when the federal government is sometimes given the power which is allotted to "no state" and sometimes expressly forbidden as well that which is allotted to "no state"?
That is a really, really strained interpretation of this clause. Because these exact words are used to give these powers to other entities in government:
Article I, Section 8, clause 5: [The Congress shall have Power] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
Article I, Section 8, clause 11: [The Congress shall have Power] To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;
Article II, Section 1, clause 2: [The President] shall have Power, by and with the Advice and Consent of the Senate, to make Treaties, provided two thirds of the Senators present concur
Some of the other things forbidden with "No State" are also expressly forbidden to Congress itself. How is it common sense that "No state" also includes "the federal government" when the federal government is sometimes given the power which is allotted to "no state" and sometimes expressly forbidden as well that which is allotted to "no state"?