More lunacy courtesy of the NC GOP

This guy wants to manage people's retirement accounts?:

Steve Royal, the Republican candidate for state treasurer, believes North Carolina and neighboring states should band together and form a centralized, regional currency. “In coordination, if possible, with adjoining states, it could be possible to create an auxiliary currency to help stimulate the regional economy, a centralized currency using state-owned real estate as equity – in other words – real money,” said Royal

Considering that total state-owned assets are worth about 28 billion, and total income earned in NC is (revised) 360 billion, this new currency would be starting off with insufficient assets to cover itself. Unless the state decided to go on a buying spree...okay, I need to stop trying to understand crazy stuff like this, other than to say: It's been done before, and it didn't work very well: