Article 1, Section 10, The U.S. Constitution:
"No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility."
Do You Think States Should Be Allowed to Mint Their Own Currency?
ABC News U.S.
2013/02/07 21:00:00
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1,942 votes
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Will Virginia start minting its own currency? It’s an idea worth considering, according to the state’s House of Delegates.
The lower chamber passed a bill Monday to study the possibility. The legislation, proposed by Manassas Republican Del. Robert Marshall, would create a new joint subcommittee made up of lawmakers, plus two outside experts, to “study the feasibility of a metallic-based monetary unit.”
The committee could spend up to $17,440 and would present its recommendations before the legislative session starts in 2014. Translation: Ten people would advise Virginia on whether to start making its own currency on a gold or silver standard.
The lower chamber passed a bill Monday to study the possibility. The legislation, proposed by Manassas Republican Del. Robert Marshall, would create a new joint subcommittee made up of lawmakers, plus two outside experts, to “study the feasibility of a metallic-based monetary unit.”
The committee could spend up to $17,440 and would present its recommendations before the legislative session starts in 2014. Translation: Ten people would advise Virginia on whether to start making its own currency on a gold or silver standard.
Read More: http://abcnews.go.com/blogs/politics/2013/02/virgi...
Top Opinion
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Transquesta 2013/02/07 21:30:32
It isn't replacing the dollar unless it has a total collapse.
The Virginia plan is to have a backup to the dollar in case of a total economic collapse of the dollar.
It isn't replacing the dollar unless it has a total collapse.
Now go back to your insipid reality show sheep...
And just FYI I don't live in a bunker that's just a reflection of the propaganda and indoctrination from all the Establishment Koolaid you have deposited on your cranium where your brain once long ago used to be...
I know--China! You're working for China! If the U.S. falls, China takes it's place as the world leader.
Freaking commie.
Rick Perry has already reneged on his secession comments. He was pandering to the RWNJs during the GOP primary. Once he went back to being governor, he announced secession was off the table. He knows Texas would become a third world country overrun by Mexico without the largesse and protection of the federal government.
The Virginia plan is to have a backup to the dollar in case of a total economic collapse of the dollar.
It isn't replacing the dollar unless it has a total collapse.
The Virginia plan is to have a backup to the dollar in case of a total economic collapse of the dollar.
It isn't replacing the dollar unless it has a total collapse.
Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money and for the first time had no currency with any gold or silver backing.
This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government. In other words, Nixon implied take our paper dollars or don’t.
The U.S. at this time was a world super power having been victorious in WWII and there really wasn’t much anyone could do about the decision by the U.S. government to abandon metal backing.
What does a dollar or Federal Reserve note represent now that gold and silver no longer back any of the currency printed in the U.S.?
A dollar bill used to say “This note is legal tender for all debts, public and private, and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank.” Look at a dollar bill today. It simply says; “This note is legal tender for all debts, public and private.” In other words, you can’t redeem it for “lawful money.”
Guess what folks? A dollar bill is not lawful money, but rather “legal tender.”
Fro...
Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money and for the first time had no currency with any gold or silver backing.
This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government. In other words, Nixon implied take our paper dollars or don’t.
The U.S. at this time was a world super power having been victorious in WWII and there really wasn’t much anyone could do about the decision by the U.S. government to abandon metal backing.
What does a dollar or Federal Reserve note represent now that gold and silver no longer back any of the currency printed in the U.S.?
A dollar bill used to say “This note is legal tender for all debts, public and private, and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank.” Look at a dollar bill today. It simply says; “This note is legal tender for all debts, public and private.” In other words, you can’t redeem it for “lawful money.”
Guess what folks? A dollar bill is not lawful money, but rather “legal tender.”
From the Treasury;
“Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. Redeemable notes into gold ended in 1933 and silver in 1968. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are “backed” by all the goods and services in the economy.”
The Virginia plan is to have a backup to the dollar in case of a total economic collapse of the dollar.
It isn't replacing the dollar unless it has a total collapse.
"No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility."