The study, which would cost an estimated $17,440 to Virginia taxpayers, would create a 10-member commission to study “the need, means, and schedule for establishing a metallic-based monetary unit” in the event of “hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System, for which the Commonwealth is not prepared.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Saturday, February 09, 2013
Is Virginia Really Trying To Mint Its Own Money?
Earlier this week, the Virginia legislature overwhelmingly passed a bill that would fund a study to investigate “whether the Commonwealth should adopt an alternate medium of commerce or currency to serve as an alternative” to the dollar “in the event of a major breakdown of the Federal Reserve System.”
The study, which would cost an estimated $17,440 to Virginia taxpayers, would create a 10-member commission to study “the need, means, and schedule for establishing a metallic-based monetary unit” in the event of “hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System, for which the Commonwealth is not prepared.
The study, which would cost an estimated $17,440 to Virginia taxpayers, would create a 10-member commission to study “the need, means, and schedule for establishing a metallic-based monetary unit” in the event of “hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System, for which the Commonwealth is not prepared.
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3 comments:
Virginia should not isolate themselves with this endeavor.This needs to be on a national level or it will not work.Paper or metallic,we all need to get on the same page.The idea is great.It's the "Commonwealth" part of it that sounds like VA is a separate country & therefore will not work.With all 50 states pulling together this plan could indeed work.
Thats one way of losing GOVT Assistance.
To hell with government assistance 9:09. Dependence upon federal government money is partially to blame for the problems individual states now face. We became accustomed to getting it then they shut off the faucet and here we are. Let's live within our means. Shop locally. Sell locally. LIVE locally! Keep our money here rather than buying Chinese goods from a large box store not owned by local people. If we learn to stand on our own the federal government will have little effect on local economies.
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