Virginia Creates Subcommittee To Study Monetary Alternatives In Case Of Terminal Fed "Breakdown",

Zero Hedge ^ | 1-10-2011 | Tyler Durden

[Frantzie]

In what may one day be heralded as the formal proposal that proverbially started it all, the Commonwealth of Virginia introduced House Resolution No. 557 to establish a joint subcommittee to "to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System."

[Frantzie]

VA may be planning ahead and considering a gold based currency instead of worthless Fed fiat paper.

[MIchaelTArchangel]

Maybe they can hire Jason Loughner as a consultant.

[Frantzie]

The kid is a dope smoking evil idiot and lib. If you think the Fed has American citizens best interests you are an even bigger idiot.

[PUGACHEV]

You gotta love it. If the U.S. currency collapses, what on earth does Virginia think it's going to do to help the situation? Among all the other problems we would face, so now were’re going to buy oil, food, goods and services from other regions with something backed by the Commonwealth of Virginia? Tobacco would be a better choice.

[eyeamok]

I have long maintained that The States could INVALIDATE the Fed anytime they wanted, just by refusing to Honor Federal Reserve Credits. Seems like maybe somebody in Virginia, actually started reading the Constitution.

[Rebelbase]

[Frantzie]

Utah is having the same discussions. The Univ of Texas took $500 million of their $22 billion endowment and bought gold about 6 months ago.

I am not pimping gold but fiat currency/the dollar is in trouble. If you say anything bad about it or the Fed here you might be called Jared Lougner or they will start in on Ron Paul.

[underbyte]

Where there is smoke there is fire - What would motivate them to do this other than maybe some high level discussions/info from the the federal government?

[Frantzie]

VA is one of the most plugged in states that may know what is really going on in DC. You also have some real conservatives there like Ken Cucinelli suing ObamaCare.

[P8riot]

Virginian and proud of it.