Virginia Del. Robert G. Marshall fears that a financial apocalypse is coming and only one thing can save the Commonwealth: its own currency.
when Marshall introduced it three years ago.
But it has since gained traction not only in Virginia, but also in
states across the country as Americans have grown increasingly
suspicious of the institutions entrusted with safeguarding the economy.
This week, the proposal by the Prince William Republican sailed through the House of Delegates with a two-to-one majority.
“This is a serious study about a serious topic,” Marshall said Tuesday. “We’re not completely powerless.”
far, only Utah has approved a law recognizing nontraditional currency.
Four other states have bills pending this year. Marshall said he is
unsure of his proposal’s prospects in the Virginia Senate. One Democrat
derided it as a descent into “la-la land.”
But the fact that the debate is happening at all reflects a
deep-seated distrust in the very foundation of the country’s economic
system — the dollar.
Much of the anger is directed at the Federal
Reserve, which controls the nation’s supply of money. Since the
financial crisis, the Fed has pumped trillions of dollars into the
economy to help avert what Chairman Ben S. Bernanke believed could have
been the next Great Depression. Critics worry the Fed won’t ever stop.
believes that the result could resemble the Weimar Republic of Germany
after World War I: a worthless currency, skyrocketing inflation and a
And those are only the problems that the
Fed might create. Who knows what other threats may be lurking in the
shadowy world of cyberattacks, Marshall said. The Fed acknowledged
Tuesday that its computer systems were recently compromised, although the problems did not affect critical operations and have since been fixed.
“This is a lifeboat study; what happens if?” Marshall said.
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You can voice your opinion about HJ 590 by contacting your Virginia Legislators. For their contact information, visit: http://conview.state.va.us/whosmy.nsf/main?openform
Tell your Delegate that this bill is about more than politics - it's about VIRGINIA, and saving the money of the citizens of this State!