Economy and Finance
Virginia Considers Alternate Currency Option in the Event of a Dollar Collapse
In a stark illustration of the economic fears still plaguing America, a resolution was introduced in the Virginia legislature on January 12 that would create a subcommittee to officially consider the adoption of an alternative currency in case of a total breakdown of the U.S. dollar and the Federal Reserve System.
The Virginia resolution, introduced by Republican Delegate Robert Marshall, begins with the premise that the state government has a responsibility to protect the lives and property of its citizens. To fulfill that mission requires proper state finances and a “robust private economy,†both of which necessitate a “sound currency.â€
And according to the bill, the current monetary and banking systems — revolving around the Federal Reserve — might not be able to provide the stability necessary for a prosperous economy and well-functioning state government. Not for long, at least. The present systems “have come under ever-increasing strain during the last several years, and will be exposed to ever-increasing and predictably debilitating strain in the years to come.â€
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