Melt butter over medium heat and add shallots, sauté until tender. Add drained oysters and season with salt and pepper. Cook until edges of oysters just curl. Sprinkle the oysters with flour and stir to blend. Add reserved oyster liquor and blend again. Slowly pour in half and half and continue stirring until slightly thickened and hot but not boiling. Stir in Pernod or anise. Add hot sauce a few drops
at a time to taste. Serve garnished with chopped chives and oyster crackers.