Written by Alex Newman, The New American
In a stark illustration of the economic fears still plaguing America, a resolution was introduced in the Virginia legislature on January 12 that would create a subcommittee to officially consider the adoption of an alternative currency in case of a total breakdown of the U.S. dollar and the Federal Reserve System.
If the dollar loses its status as the world reserve currency, which appears increasingly likely, the U.S. economy will suffer devastating consequences caused by the resulting hyperinflation — especially since America imports most of its oil. And with the world’s most prominent international institutions and leaders predicting and even calling for an end to dollar hegemony, as well as the creation of a world currency controlled by a global central bank, the time for states to take notice and prepare may be now or never.
The Virginia resolution, introduced by Republican Delegate Robert Marshall, begins with the premise that the state government has a responsibility to protect the lives and property of its citizens. To fulfill that mission requires proper state finances and a “robust private economy,” both of which necessitate a "sound currency." ...
... For now, the resolution has been referred to the Committee on Rules. How far it will go remains to be seen. But with other states considering similar measures and the dollar’s problems becoming increasingly obvious, prudent preparations for a potential catastrophe will only continue building steam.
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You can voice your opinion about HJ 557 by contacting your Virginia Legislators. For their contact information, visit: http://conview.state.va.us/whosmy.nsf/main?openform
Tell your representative Delegate that this bill is about more than politics - it's about VIRGINIA, and saving the money of the citizens of this State!