Study for Virginia Currency Gets House Approval
Preparing for U.S. monetary collapse, proposal from Del. Bob Marshall would weigh need for Commonwealth's own gold and silver coins.
A measure introduced by local Del. Bob Marshall (R-Manassas) to study a Virginia currency is now in front of the state Senate after approval from the House of Delegates on Monday.
The House voted, 65-32, for the study of a metallic-based monetary unit in the event the U.S. dollar crumbles. Read the entire bill, as approved by the House.
According to the bill, the committee would meet four times this year to "consider recommendations for legislation, with respect to the need, means and schedule for establishing a metallic-based monetary unit to serve as a contingency currency for the Commonwealth."
The bill sets the maximum cost of the committee's work at $17,440.
What do you think of the proposal for a Virginia currency? Tell us in the comments section at the bottom of the page.
See how your representative voted:
YEAS--Albo, Anderson, Bell, Richard P., Bell, Robert B., Byron, Cline, Cole, Cosgrove, Cox, J.A., Cox, M.K., Dudenhefer, Edmunds, Fariss, Farrell, Garrett, Gilbert, Greason, Habeeb, Head, Helsel, Hodges, Hugo, Iaquinto, Ingram, Joannou, Johnson, Jones, Kilgore, Knight, Landes, LeMunyon, Lingamfelter, Loupassi, Marshall, D.W., Marshall, R.G., May, Merricks, Miller, Minchew, Morefield, Morris, O'Bannon, O'Quinn, Orrock, Peace, Pogge, Poindexter, Purkey, Putney, Ramadan, Ransone, Robinson, Rush, Scott, E.T., Sherwood, Stolle, Tata, Villanueva, Ware, R.L., Watson, Webert, Wilt, Yancey, Yost, Mr. Speaker--65.
NAYS--BaCote, Brink, Bulova, Carr, Comstock, Dance, Filler-Corn, Herring, Hester, Hope, Howell, A.T., James, Keam, Kory, Krupicka, Lewis, Lopez, Massie, McClellan, McQuinn, Morrissey, Plum, Rust, Scott, J.M., Sickles, Surovell, Torian, Toscano, Tyler, Ward, Ware, O., Watts--32.
ABSTENTIONS--0.
NOT VOTING--Crockett-Stark, Spruill, Wright--3.
Wayne
7:47 am on Tuesday, February 5, 2013
How absurd is this?
Stuart Schadt
9:01 am on Tuesday, February 5, 2013
Absurd is the right word. $17,000 being stolen from the people of Virginia.
mary myers
11:13 am on Tuesday, February 5, 2013
not necessarily--with the federal economy generating colossal debt and printing money with which to flood the market, it might be necessary for the states to prepare to step forward with their own currency to protect our assets.
Cindy Brookshire
11:26 am on Tuesday, February 5, 2013
Every year, 45 to 60 days are wasted on these fear-based issues that have nothing to do with governing or reality. Talk to any young person under 25. They don't even use cash anymore, let alone want to store gold nuggets like Fred Flintstone. It is in other countries best interest not to let our dollar collapse - they get hurt in the process. Better to advise your constituents to be mobile (and model that). Diversify their assets, keep their job skills up and keep an updated passport. In other words, all-hazards emergency management. ReadyVirginia.gov or better yet, for businesses, http://www.ready.gov/business/. Please, spend those 46-60 days on transportation (raise the gas tax to meet current conditions, don't penalize electric/hybrid vehicles) and education (stop all the testing and regulations and let educators teach).
Mises
9:38 pm on Tuesday, February 5, 2013
You lost me at raising taxes. It erased anything intelligence you may have said.
Mises
9:46 pm on Tuesday, February 5, 2013
intelligent*
Rich
12:08 pm on Tuesday, February 5, 2013
This can't possibly be real. Sixty-five delegates voted in favor of this?
Edward Robertson
12:35 pm on Tuesday, February 5, 2013
Wow, people are out of it. Have you actually been reading the news or just trolling articles with topics of which you obviously know nothing about. The dollar is worth almost nothing and getting worse every day. Precious metal based currency is the way to go. I'm very glad Virginia is doing this.
marylincoln
1:00 pm on Tuesday, February 5, 2013
I think this is a good idea. The money would be more stable and less prone to inflate due to being backed by a tangible asset. Nothing says people couldn't still rely on debit cards..just means the money that would be drawn from your account by that debit card would be backed by gold or silver. Even *if* the concerns about the dollar being devAlued are misplaced (which I don't believe they are), I think this would greatly imrprove Virginia's economy. The money would become more desirable due to its stability. Thus people would want to work here to get paid in those stable dollars and would want to buy houses here since their value would be redeemeable into gold and silver when that house would be sold. I think this proposal could well improve just about every industry in the state. And even *if* concerns about the dollar are just hype, a lot of people believe this "hype" and those people will all want to live in Virginia. Only downside might be for a current renter resident who wants to buy bc house prices will probably go way up.
Deborah Kelly
9:04 am on Wednesday, February 6, 2013
Agree - good idea! Never hurts to have a "back up" plan - better than not having one!
Craig Shier
9:07 pm on Tuesday, February 5, 2013
This is foolishness. The credit of a mid-sized state won't be worth anything if the USD fails. There is not enough gold and silver in the world to create an economy based on coinage unless prices go up several orders of magnitude.
Mises
9:44 pm on Tuesday, February 5, 2013
How about we promote more bartering? Oh wait, the IRS is already prepared to stop that too. They have webpages dedicated to making sure you pay taxes whenever you barter service or items that have a fair market value (I'm sure they determine that too) of $1.00 or more. In any case, bartering would be ideal in a world where paper money becomes worthless.
Cindy Brookshire
8:58 am on Wednesday, February 6, 2013
And now...Amazon coins, beginning in May. http://www.amazonappstoredev.com/2013/02/introducing-amazon-coins.html