Skip to comments.Virginia advances bill pushing for state to establish its own currency
Posted on 02/06/2013 12:39:52 PM PST by RoosterRedux
Virginia is one step closer to breaking ties with the country's monetary system.
A proposal to study whether the state should adopt its own currency is gaining traction in the state legislature from a number of lawmakers as well as conservative economists. The state House voted 65-32 earlier this week to approve the measure, and it will now go to the Senate.
While its unlikely that Virginia will be printing its own money any time soon, the move sheds light on the growing distrust surrounding the nations central bank. Four other states are considering similar proposals. In 2011, Utah passed a law that recognizes gold and silver coins issued by the federal government as tender and requires a study on adopting other forms of legal currency.
Virginia Republican Del. Robert Marshall told FoxNews.com Tuesday that his bill calls for creation of a 10-member commission that would determine the need, means and schedule for establishing a metallic-based monetary unit. Essentially, he wants to spend $20,000 on a study that could call for the state to return to a gold standard.
(Excerpt) Read more at foxnews.com ...
I think this may be illegal. Article One of the Constitution says “No State shall...coin Money; emit Bills of credit; make anything but gold or silver Coin a Tender in Payment of Debts.”
Wait, I just noticed it talks about coins and a gold standard. That would work. Fact remains that this wouldn’t prevent fed notes from being legal tender, and according to Gresham’s Law bad money drives out good.
What is up with the idiot gimmicks of some of these legislatures? This is so easily unconstitutional that a 4 year old could call it so.
There are SO many great Conservative memes to be told, but the movement is being hijacked by morons. Between that and the GOP elite no wonder we are getting slaughtered.
“Stupid” is wearing me out.
Republicans will shoot it down.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.