South Carolina Politico Wants to Create State Currency
"State Sen. Lee Bright introduced legislation to create a new state currency in the event of a breakdown of the Federal Reserve System."
“If folks lose faith in the dollar, we need to have some kind of backup.”
How ironic. South Carolina followed the first shots of the Civil War. We've actually shown here that several states are actively drawing up alternative currency plans and proposing the introduction of a partial gold and silver standard. I don't think this will come to life just yet, but the drawing boards are filling up. It's just a matter of time. I applaud this. -- MCR
South Carolina Politico Wants to Create State Currency
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State Sen. Lee Bright introduced legislation to create a new state currency in the event of a breakdown of the Federal Reserve System. The Spartanburg Herald Journal reports,
The Federal Reserve System has 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, according to the legislation.
“If there is an attempt to monetize the Fed we ought to at least have a study on record that could protect South Carolinians,” Bright said in an interview Friday.
“If folks lose faith in the dollar, we need to have some kind of backup.”
…Per the legislation, South Carolina’s new currency could consist of “gold or silver, or both.”
What a contrast to the growing political movement in the PIIGS of Europe:
Ultimately, the solution is, the root cause of the problem is we’re not printing our own debt free money. That is what we need to do. Like Abraham Lincoln’s greenback , we need to get back to printing our own debt free money.
Isn’t Fort Sumter in South Carolina?
Read more: http://www.businessinsider.com/south-carolina-politico-wants-to-create-state-currency-2011-2?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+businessinsider+%28Business+Insider%29#ixzz1E3jTs4VL
