South Carolina lawmaker wants separate currency for state - Honda-Tech


South Carolina lawmaker wants separate currency for state

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Old 02-14-2011, 02:21 PM   #1
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Default South Carolina lawmaker wants separate currency for state

http://news.yahoo.com/s/yblog_theloo...ency-for-state
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A South Carolina state politician wants the state to develop its own gold and silver-based currency in case the Federal Reserve collapses and hyper-inflation ensues.

"If folks lose faith in the dollar, we need to have some kind of backup," State Sen. Lee Bright told the Spartanburg Herald Journal's Stephen Largen. His bill asks a committee to look into the development of a state currency, citing the Constitution and Supreme Court precedents to prove the bill's legality.

Slate's Annie Lowrey tracks down similar bills in Georgia and Virginia, and points out that the legislation reflects a larger trend of state politicians wading into monetary policy. A bill in Georgia would require all debts to the state be paid in pre-1965 gold and silver coins. The Virginia proposal would let the state print its own money. Meanwhile, one politician in Utah wants to cut out the middleman entirely and allow the state's residents to run their very own mints.

Advocates of currency alternatives to the dollar argue that the Federal Reserve's quantitive easing techniques will lead to inflation. Texas GOP Rep. Ron Paul, who won the Conservative Political Action Committee's presidential candidate straw poll last week, has been Congress' most visible anti-Fed leader. Paul argues the Fed devalues the dollar, and proposes that the United States should gradually return to gold-backed currency.

In addition to the nightmarish logistical challenges involved with a state adopting a new currency, Lowrey points out that commodity-backed currencies can also experience volatility. For example, if a state collects income taxes in gold and then a big new gold mine is discovered, the metal's value would decline--together with the state's revenue holdings.

So for now, it's probably bests for individual consumers to refrain from shifting over to sovereign state currencies--especially since none of the recently introduced currency bills stands a strong chance of passing. However, for numistmatists looking to make a political statement, the Ron Paul silver dollar will likely appreciate--especially since federal authorities raided the libertarian minting operation that marketed it back in 2007.

(Dollar coins in a U.S. mint in Philadelphia: AP/Matt Rourke.)
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SC wants its own currency, if "the federal reserve collapses and hyper inflation ensues"


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Old 02-14-2011, 02:22 PM   #2
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Default Re: South Carolina lawmaker wants separate currency for state

i want them out of the office, in case they lose their minds. which they did already.
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Old 02-14-2011, 02:28 PM   #3
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Default Re: South Carolina lawmaker wants separate currency for state

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Meanwhile, one politician in Utah wants to cut out the middleman entirely and allow the state's residents to run their very own mints.
Inb4 a loaf of bread costing $1000

That just screams stupidity.
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Old 02-14-2011, 02:30 PM   #4
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Default Re: South Carolina lawmaker wants separate currency for state

Bright's idea isn't very bright.
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Old 02-14-2011, 02:30 PM   #5
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Default Re: South Carolina lawmaker wants separate currency for state

no.
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Old 02-14-2011, 02:32 PM   #6
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Default Re: South Carolina lawmaker wants separate currency for state

Pandering to idiotic GOP voters that don't know enough to realize that it would never work.

Bro story cool.
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Old 02-14-2011, 03:16 PM   #7
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Default Re: South Carolina lawmaker wants separate currency for state

damn hipsters
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Old 02-14-2011, 05:59 PM   #8
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Default Re: South Carolina lawmaker wants separate currency for state

god damnit. are you ****ing serious.

< so ashamed.
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Old 02-14-2011, 06:10 PM   #9
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Default Re: South Carolina lawmaker wants separate currency for state

Paper money backed by gold/silver, oh yeah, that's a dumb idea.
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Old 02-14-2011, 06:15 PM   #10
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Default Re: South Carolina lawmaker wants separate currency for state

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Paper money backed by gold/silver, oh yeah, that's a dumb idea.
it is when it is instituted in a state of a UNION, in a global village.
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Old 02-14-2011, 06:23 PM   #11
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Default Re: South Carolina lawmaker wants separate currency for state

the thing that I'm worried about the most is that these ideas didn't come from nowhere. someone, probably an actual team, sat and thought these ideas up. even wilder, some voters will think they are good ideas.
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Old 02-14-2011, 06:24 PM   #12
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Default Re: South Carolina lawmaker wants separate currency for state

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Originally Posted by Ash J. Williams View Post
i want them out of the office, in case they lose their minds. which they did already.
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Old 02-14-2011, 06:30 PM   #13
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Default Re: South Carolina lawmaker wants separate currency for state

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it is when it is instituted in a state of a UNION, in a global village.

You mean like how England still uses their own currency even though they're part of the European Union?
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Old 02-14-2011, 06:46 PM   #14
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Default Re: South Carolina lawmaker wants separate currency for state

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You mean like how England still uses their own currency even though they're part of the European Union?
EU is a loose conglomerate of independent and sovereign nations, solely for the economic benefit.
USA is a whole lot more.
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Old 02-14-2011, 06:47 PM   #15
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Default Re: South Carolina lawmaker wants separate currency for state

But how long before United States of America becomes the North American Union?
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Old 02-14-2011, 06:50 PM   #16
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Default Re: South Carolina lawmaker wants separate currency for state

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But how long before United States of America becomes the North American Union?
you are just trolling me, aren't you?
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Old 02-14-2011, 06:59 PM   #17
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Default Re: South Carolina lawmaker wants separate currency for state

Trollin you..... is easy cuz you're gullible..
Makin fun of you, is all I wanna do.
Trooooollin you... is more than just a dream come true.
Troll lol lol lol lol, troll lol lol lol lol... do do do do do do


In case this post made no sense, google: Minnie Riperton "Lovin You"
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Old 02-14-2011, 07:09 PM   #18
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Default Re: South Carolina lawmaker wants separate currency for state

slomofo for president of some small south american country.
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Old 02-14-2011, 07:45 PM   #19
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Default Re: South Carolina lawmaker wants separate currency for state

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Pandering to idiotic GOP voters that don't know enough to realize that it would never work.

Bro story cool.

who do the assclowns that think they are far superior than everyone vote for doe?
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Old 02-14-2011, 07:48 PM   #20
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Default Re: South Carolina lawmaker wants separate currency for state

Cliffs: Libertarians.
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Old 02-14-2011, 07:50 PM   #21
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Default Re: South Carolina lawmaker wants separate currency for state

geez lived in SC for 17 years.. they are retarded
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Old 02-14-2011, 07:56 PM   #22
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Old 02-15-2011, 04:59 AM   #23
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Default Re: South Carolina lawmaker wants separate currency for state

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god damnit. are you ****ing serious.

< so ashamed.
<--- is also disappoint.
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Old 02-15-2011, 05:02 AM   #24
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Default Re: South Carolina lawmaker wants separate currency for state

some southern state a couple years ago proposed this idea before the collapse of the stock market(i was in college when I heard this). the government pretty much told them they can do it, as long as they dont expect federal funding anymore
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Old 02-15-2011, 05:47 AM   #25
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Default Re: South Carolina lawmaker wants separate currency for state

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<--- is also disappoint.
concurs.

will vote against the idiot next election.
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