Gold Standard - Miata Turbo Forum -Boost cars, acquire cats.

Welcome to   Members

Current Events, News, Politics Keep the politics here.

LinkBack Thread Tools Search this Thread
Old 01-11-2011, 12:44 AM   #1
Elite Member
Thread Starter
Join Date: Jul 2007
Location: Little Rock, AR
Posts: 3,094
Total Cats: 117
Default Gold Standard

The Commonwealth of Virginia would begin minting its own gold and silver coins as an alternative currency to the U.S. dollar under a bill that Virginia Del. Bob Marshall (R-Prince William) says he will file in coming days.

Marshall will ask the General Assembly to consider the idea when it convenes for its annual legislative session Jan. 12. It is a companion bill to a proposal he has already filed to establish a study committee to examine alternative currencies to that distributed by the Federal Reserve System "in the event of a major breakdown of the Federal Reserve System."

Marshall said his intention is to inject competition into the national economy and force the federal government to change monetary policy he believes is leading to hyperinflation. According to his bill, "many widely recognized experts predict the inevitable destruction of the Federal Reserve System's currency through hyperinflation in the foreseeable future." His critique mirrors that of the Tea Party movement, some of whose members have called for the end of the Federal Reserve system.

"State legislatures have to get a little more creative and savvy to counter the buffoonery that's been plaguing Washington," Marshall said in an interview.

Asked what he might say to people who believe the proposal is, well, a little wacky (after all, the last time Virginia used currency other than the U.S. dollar was during the Civil War), Marshall said he believes the Constitution allows for alternative currencies.

"The only people who would say that are people who don't understand or reject the clear language of the Constitution, of the law and of court decisions," he said. "We want to provide competition and some restraint on the profligates that have been running the Federal Reserve and the people in Congress who don't know the word 'no.' "

Marshall is one of the most conservative and controversial members of the Virginia legislature. He delights in proposing legislation that helps him advance his conservative philosophy and is considering running for the U.S. Senate in 2012.

But Marshall's bills aren't always embraced by the rest of the legislature, even his fellow Republicans. He is also sponsoring legislation this year to bar gays and lesbians from serving in the Virginia National Guard.

By Rosalind S. Helderman | January 5, 2011; 4:42 PM ET


Imagine paying your next parking ticket in gold Krugerrands or renewing your driver license using American Gold Eagles.

A proposal in the Utah Legislature would require the state to allow just that, requiring government agencies to accept gold for transactions, and creating a parallel monetary policy for intrastate commerce tied to the price of gold.

Under the legislation that has been drafted, Utah residents could mint their own gold or silver coins, a storehouse would be created to stockpile the precious metal and the Utah Defense Force, an arcane state militia that may be called and armed by the governor, would be responsible for securing the inventories.

“I think it has merit,” said Rep. John Dougall, R-Highland, who had the proposal brought to him by a constituent and committed to opening a bill file. Another representative will probably end up sponsoring the legislation.

“Fundamentally, what it comes down to is people’s concern about the fundamentally reckless policies at the federal reserve and what it does long-term to the financial standing of the country and giving folks another choice of monetary tools for their financial transactions,” Dougall said.
jacob300zx is offline   Reply With Quote
Old 01-13-2011, 03:42 PM   #2
Elite Member
Join Date: Jul 2005
Posts: 6,316
Total Cats: 68

Wow, good stuff.
The sheep are waking up.

There's also this:
JasonC SBB is offline   Reply With Quote

Related Topics
Thread Thread Starter Forum Replies Last Post
OTS Bilstein to motorsports ASN conversion stoves Suspension, Brakes, Drivetrain 5 04-21-2016 03:00 PM
Please school me on life insurance... samnavy Insert BS here 14 10-10-2015 11:21 PM
Re-Spring Tein FLEX or replace? Mazdaspeeder Suspension, Brakes, Drivetrain 21 10-03-2015 06:45 PM
VE values too low? compuw22c MEGAsquirt 4 09-12-2015 07:42 PM
Wilwood Corrado bracket measurements Neilv Suspension, Brakes, Drivetrain 3 09-12-2015 09:46 AM

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

All times are GMT -4. The time now is 11:25 PM.