Virginia coin moves closer to reality

Virginia Del. Robert G. Marshall fears that a financial apocalypse is coming and only one thing can save the Commonwealth: its own currency.

The idea that Virginia should consider issuing its own money was dismissed as just another quixotic quest by one of the most conservative members of the state legislature 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.”

So 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.

Marshall believes that the result could resemble the Weimar Republic of Germany after World War I: a worthless currency, skyrocketing inflation and a crumbling government.

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.

READ THE FULL ARTICLE HERE...

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!

More States Support Move to Metals as Dollar Weakens

Investing in silver and gold has become more attractive since the US dollar just doesn't have the clout it once did.

Fears over where the dollar is headed – especially with continued money printing from the central bank – has pushed safety-seekers into investing in silver and gold. Demand has also pushed gold and silver prices to new highs.

The idea of using gold and silver as an alternative currency has spread as the metals have grown more valuable. In fact, worries that the US dollar is on the cusp of a collapse have lawmakers from more than a dozen states (up from just three in the past few years) seeking approval from their state governments to either issue their own alternative currency or use gold and silver as a currency for settlement of state-related transactions.

Rep. Glen Bradley, R-N.C., who introduced a currency bill in 2011, told CNN Money, "In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System... the state's governmental finances and private economy will be thrown into chaos."

Fourteen States & Counting

While the US Constitution bans states from printing their own paper money or issuing their own currency, it does permit states to make "gold and silver Coin a Tender in Payment of Debts."

The first state to introduce its own alternative currency was Utah. Gov. Gary Herbert signed a bill into law in March that recognized gold and silver coins issued by the US Mint as an acceptable form of payment.

Under the law, the coins, which include the hugely popular American Gold and Silver Eagles, are treated the same as the US dollar for tax purposes, eliminating capital gains taxes. The new law allows the coins to be exchanged at their market value, based on weight and fineness.

Rich Danker, a project director at the Washington, D.C.-based conservative public policy American Principles Project, explained to CNN Money, "A Utah citizen, for example, could contract to sell his car for 10-one ounce gold coins (roughly $17,000), or an independent contractor could arrange to be compensated in gold coins."

These other states have similar policies:

READ THE FULL ARTICLE HERE...

"Competing currencies: a defense against profligate spending"

By Rep. Ron Paul (R-Texas)
The Hill - 07/11/11

... Currency is sound only when it is recognized and accepted as such by individuals, through the actions of the market, without coercion. Throughout history, gold and silver have been the two commodities that have most fully satisfied the requirements of sound money. This is why people around the world are flocking once again to gold and silver as a store of value to replace their rapidly depreciating paper currencies. Even central banks have come to their senses and have begun to stock up on gold once again.

But in our country today, attempting to use gold and silver as money is severely punished, regardless of the fact that it is the only constitutionally-allowed legal tender!

... This is why I have taken steps to restore the constitutional monetary system envisioned and practiced by our Founding Fathers. I recently introduced HR 1098, the Free Competition in Currency Act. This bill eliminates three of the major obstacles to the circulation of sound money: federal legal tender laws that force acceptance of Federal Reserve Notes; "counterfeiting" laws that serve no purpose other than to ban the creation of private commodity currencies; and tax laws that penalize the use of gold and silver coins as money. During this Congress I hope to hold hearings on this bill in order to highlight the importance of returning to a sound monetary system.

Allowing market participants to choose a sound currency will ensure that individuals' needs are met, rather than the needs of the government. Restoring sound money will restrict the ability of the government to reduce the citizenry's purchasing power and burden future generations with debt. Unlike the current system which benefits the Fed and its banking cartel, all Americans are better off with a sound currency.

READ THE FULL ARTICLE HERE...

Moving Forward to a New Digital Gold Standard

This is a great article on how we can use gold & silver in everyday transactions. It answers the points raised by oh-so-many legislators:

"Gold and silver are too heavy to carry around a bag of metal to pay for everyday purchases."

"Gold is too valuable, we'd be using pieces the size of rice to try and pay for things."

"It's impossible to make change using gold and silver, the coins are not physically divisible at the cash register!"

The proof that we don't have to do any of that silliness is found in already-existing Digital Gold Currency. DGC lays the foundation for moving to simply doing what people are doing already - using digital money in everyday transactions - but using check cards & debit cards that are backed by gold & silver rather than Federal Reserve Notes (or whatever other government legal tender you're forced to use).

I understand - it can be difficult to wrap your head around the fact that gold and silver are money, and money doesn't have to take the form of nearly-worthless pieces of paper like we have today. But please - these legislators are Members of the BANKS AND BANKING committee. Surely...

It's time to return to sound money, that holds its purchasing value. The Constitutional Tender Act can help begin that process.

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by Mark Herpel, editor of Digital Gold Currency magazine

In my everyday conversations people always ask me, "are we going back to the gold standard? Is that what you want?"

I have to laugh and respond by saying, "yes, back to the gold standard of the 1800's and on your way out today, please turn in your car keys and pick up your horse & buggy."

We can't go back in time. We can't wake up one day and pretend that the cell phone was not invented or the Internet doesn't exist. Once the blind man gets his sight, there is no going back to the darkness.

As both Lewis E. Lehrman and Ron Paul say, we should be "going forward to a new gold standard".

The move from legal tender paper to voluntary use of gold and silver has already been occurring on a state by state basis in the U.S.

By giving people the option to use sound money over paper currency, slowly but surely, the state legislatures are offering real protection from ongoing paper money inflation. ..

READ THE FULL ARTICLE HERE...

Edwin Vieira Interview with James Turk

James Turk interviews Edwin Vieira, author of "Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution". For more info visit http://www.goldmoney.com/goldmoney-foundation/books.html

Edwin talks about how his book came to be and the new editions. Edwin explains the role that the gold commission hearings and Ron Paul played. He also says how important and urgent monetary reform is for the United States and how the best chance of reform comes at the state level.

They discuss constitutional money in the USA and the authority of states to use gold and silver as legal tender, as well as legal precedent from the Supreme Court. He talks about how several states are contemplating legislation to allow gold and silver as alternative currencies.

Edwin explains the Treasury's legal obligation to maintain parity between all forms of US currency, about Roosevelt's gold seizure, the gold reserve act and the abolition of the gold clause. They talk about the need for insurance against a currency collapse and how alternative currencies could play that role. They discuss the stark choice that follows a currency collapse: How the US reacted after the collapse of the Continental Dollar by enshrining sound money in the Constitution vs. how Weimar Germany drifted into fascism.

He explains how States have the legal duty and authority to carry out monetary reform and given the deadlock in Washington must take the initiative to prepare for the coming crisis. They stress the need for a rational currency system which allows for economic calculation, and decry the current fiat, politically driven, irrational monetary system as incompatible with a free market and a focus of financial instability.

They both talk Turk about the current lack of financial education, they liken the alternative currency initiatives by State legislatures to building lifeboats for the Titanic that is the US Dollar and talk about the different things that can be done to prepare for its impending sinking. They also return to the Continental Dollar and how America's founding fathers were able to learn from their mistakes by enshrining sound money in the Constitution and how with today's technology we could do even better.

CLICK FOR ORIGINAL YOUTUBE SITE...

"Legislator says the state needs its own currency"

Finally, we're seeing movement in North Carolina as well. Of course, it's being reported on in the same ridiculously slanted manner as every other sound money bill across America - you know, "they want to print their own money" (they don't), "the Austrian school of economics is fringe" (not any more!), jokes about "storing gold & silver in old State vaults" (duhhh, they'd use banks, hello!), etc. No one wants to talk about what the U.S. Constitution actually says: that States are REQUIRED to use only gold & silver coins in all financial transactions. Period.

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RALEIGH -- Cautioning that the federal dollars in your wallet could soon be little more than green paper backed by broken promises, state Rep. Glen Bradley wants North Carolina to issue its own legal tender backed by silver and gold.

The Republican from Youngsville has introduced a bill that would establish a legislative commission to study his plan for a state currency. He is also drafting a second bill that would require state government to accept gold and silver coins as payment for taxes and fees.

If the state treasurer starts accepting precious metals as payment, Bradley said that could prod the private sector to follow suit - potentially allowing residents to trade gold for groceries.

READ THE FULL ARTICLE HERE...

View the bill here.
Citizens of NC: Contact your State Representative here to ask they co-sponsor this bill!

Every American citizen TODAY needs to contact the Leaders of the North Carolina House and ask them to support this bill -- CLICK HERE to take action NOW!

Another State in Malaysia Introduces Gold & Silver Money

As we noted in January was going to happen, another Malaysian state (Perak) has now introduced its own Gold Dinar and Silver Dirham coins. Kelantan was first, in August of 2010.

Today, the Perak (state in Malaysia) government, introduced Gold dinars and silver dirhams. Menteri Besar of Perak, Datuk Seri Dr Zambry Abdul Kadir launch the world's first financial instrument ever made of gold and silver with a purity of 99.9 per cent or 24 karats at the Perak state secretary building in Jalan Panglima Bukit Gantang Wahab, Ipoh. For a start, 1,000 pieces of gold dinars and silver dirhams had been manufactured and would be marketed through Yayasan Pembangunan Ekonomi Islam (Yapeim) and Nusantara Bullion Exchange (Nubex Sdn Bhd)...

Datuk Seri Dr Zambry said Perak Dinar also had higher level of quality as compared to the dinars and dirhams first produced by Islamic scholar Khalifa Abdul Malik ibn Marwan about 1,357 years ago.

"Gold dinars and silver dirhams produced then contained 97 per cent of gold and silver purity, but what we launched today are of higher quality because they are equivalent to 24 karats."

As we also noted earlier, the Malaysian constitution (in ninth schedule, list I sub 7.a) does not allow its states to issue coins (much like the U.S. Constitution in Article I, Section 10); however, these coins are being privately minted by the "World Islamic Mint" under the authority of the Perak government (the Koran, like the Bible, forbids the use of fiat money and fractional reserve banking). The Perak gold dinars and silver dirhams are being produced by Goldnet International, a joint-venture company with the Perak State Development Corporation, in collaboration with KFH (Malaysia) Sdn Bhd.

Seriously, the time to start moving away from devaluating fiat paper and back to sound gold & silver money is NOW. We can see it as the mainstream media is reporting the growing number of U.S. States introducing legislation to do just that. But as we know, vested State banking interests and national banking cartels don't like competition, as we've seen from the Federal Reserve in the U.S. We can expect that the Feds and the bank industry lobbyists will fight hard to stop the States from returning to the Constitutional mandate that they use only gold and silver coins in their financial transactions.

Well, they will until their whole Ponzi scheme comes crashing down.

Update: "Sen. Bill Ketron wants TN to consider creating its own currency"

State Sen. Bill Ketron is pushing for Tennessee to study whether the state should create its own currency in the event of a breakdown of the Federal Reserve.

Depending on the perspective, Ketron's proposal is either a harmless step toward safeguarding the state in the event of national financial calamity, or proof that the Republican-led General Assembly is distracting itself from the task of creating jobs and improving the economy.

Ketron has filed a joint resolution to create a committee that would study whether Tennessee should adopt a currency as an alternative to the federal dollar in the event of a "major breakdown" of the Federal Reserve.

The proposal is part of a burgeoning movement on the part of conservative lawmakers to begin preparing for a worst-case scenario in which the Reserve collapses. Ketron's legislation mirrors almost word-for-word bills filed in South Carolina and Virginia, which passed the law earlier this year.

The Utah House of Representatives passed legislation approving gold and silver as legal tender. A Georgia lawmaker has proposed legislation that would force the state to conduct its monetary transactions in gold or silver coins.

Ketron, R-Murfreesboro, said he got the idea from the legislation filed in other states.

READ THE FULL ARTICLE HERE...

View the bill here.
Citizens of Tennessee: Contact your State Senator here.

Every American citizen TODAY needs to contact the Leaders of the Tennessee Senate and ask them to support this bill -- CLICK HERE to take action NOW!

"Sen. Ketron: TN should study creating alternative to federal currency"

Tennessee has now seen legislation introduced that is similar to Virginia's resolution to study gold and silver as an alternative currency, for the coming day when Federal Reserve Notes are finally hyper-inflated and depression hits the U.S.

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State Sen. Bill Ketron, R-Murfreesboro, has filed a senate joint resolution to study whether Tennessee should adopt its own currency in case of a breakdown of the federal reserve system.

The resolution would create a special joint committee to look at the issue.

Ketron’s proposal mirrors efforts to study the issue in states such as South Carolina and Georgia.

READ THE FULL ARTICLE HERE...

View the bill here.
Citizens of Tennessee: Contact your State Senator here.

Every American citizen TODAY needs to contact the Leaders of the Tennessee Senate and ask them to support this bill -- CLICK HERE to take action NOW!

"Sen. Lee Bright: SC should coin its own money"

Actually, Sen. Bright is NOT saying SC should "coin money"! Read the article, and you see that he's only saying SC should start using gold & silver coins. Sound familiar? :-)

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By Stephen Largen, GoUpstate.com
stephen.largen@shj.com

Continuing a pattern of attempts to assert South Carolina's independence from the federal government, State Sen. Lee Bright, R-Roebuck, has introduced legislation that backs the creation of a new state currency that could protect the financial stability of the Palmetto State in the event of a breakdown of the Federal Reserve System.

Bright's joint resolution calls for the creation of an eight-member joint subcommittee to study the proposal and submit a report to the General Assembly by Nov. 1.

The Federal Reserve System has come under ever-increasing strain during the last several years and will be exposed to ever-increasing and predictably debilitating strain in the years to come, according to the legislation.

“If there is an attempt to monetize the Fed we ought to at least have a study on record that could protect South Carolinians,” Bright said in an interview Friday.

“If folks lose faith in the dollar, we need to have some kind of backup.”

READ THE REST OF THE ARTICLE HERE...

Changing to a "Legal" Gold & Silver Economy

Prof. Michael S. Rozeff recently wrote an article at LewRockwell.com entitled, "Changing to a Silver Economy". It's an excellent exercise in thinking about how to return to an economy based on sound money:

A libertarian in Columbia, South Carolina sent me a message recently. He works at a convenience store. He was interested in introducing silver as a means of payment or currency at this store. His specific ideas I thought would not work because of the taxes on silver. The government treats silver as a collectible subject to income taxes at ordinary rates. He had some ideas of buying bullion and then setting up a market in it by buying at a small discount to the spot price and selling at a small premium, thereby creating a bid-ask spread. He had some idea of getting people to transact in silver.

Instead I spun out the following proposal. It too has the fatal flaw that taxes on silver dealings occur, but thinking about this process is very useful anyway. It shows how stores might become 100% reserve banks and how the economy might transition from paper and slug coin currency to silver money. And, if this skeletal proposal has flaws, others can possibly improve on it. I merely want to demonstrate a degree of feasibility, so that the possibilities become more tangible.

The basic idea is that silver is the unit of account, but silver is not necessarily used as the medium that is used for redemptions.

Prof. Rozeff's idea is a good one, but it's also a little complicated and potentially legally hazardous - we all know how our wonderful federal government likes "competition" in currency, and the Secret Service and IRS are used quite effectively to squelch such attempts. So instead of trying to swim upstream like so many others have attempted... how about using the government's own "legal tender" laws against it, as an alternative?

Step 1. Make the units of account (currency accepted) in the store both "legal tender" Federal Reserve Notes (FRNs) and "legal tender" Gold & Silver Coins (99.9% Eagles & 90% pre-1965 "junk" silver).

Step 2. Price everything in the store in both FRNs and Gold/Silver coins. This is not difficult; pricing in two currencies is done all the time at heavy tourist locations in Europe, the Caribbean, Mexico, and elsewhere. Exchange rates don't fluctuate dramatically enough on a daily basis to change pricing too frequently; and in reality, it would only be the price in FRNs that would need to be changed.

Pricing is fairly easy to calculate: Go to the Solaris "Silver and Gold Payment Calculator" and simply enter the FRN cost to get the converted cost. For example, if an item costs $25 FRN, also label it at $1.25 pre-65-silver; if an item costs $5.99 FRN, also label it at 30¢ pre-65. More expensive items like TVs might cost $259; it can also be labeled at either $12.96 pre-65, or [$5 Gold Eagle + $6.30 pre-65], or [$5 Gold Eagle + $4 Silver Eagles + 70¢ pre-65]. (If a premium needs to be added, that can also be incorporated in the exchange rate.)

Step 3. Offer change in either FRNs or Eagles & pre-65 coins (again, calculated online). Since these are LEGAL TENDER coins under U.S. law, if they are used in actual purchasing transactions (and not just conversion transactions - in other words, "buying" gold or silver coins using FRNs), they have been specifically declared to be NON-taxable (except for sales tax, of course; that would be done based on whatever the final face value of the sale was, as always).

All the store is doing would be to follow the legal tender laws of the U.S. government in pricing, giving change, and paying sales taxes. No one HAS to pay in gold or silver; the store would stay in business with its FRN-using customers. However, those customers would also see the price in FRNs rising on a regular basis, while the price in gold & silver remains fairly constant from week to week. Thus, this would also be a hands-on method of educating the public on the benefits of sound money; you would likely see people going out and getting as much gold & silver coins as they could, knowing that a week later the price in FRNs would be going up, but they could still buy their goods at the store for the same amount of gold & silver that's now worth more (instead of the FRNs which they would need more of).

To put it more simply: what we've done here is introduce competition in currency, between legal tender MONEY and legal tender pieces of paper. I believe MONEY will win.

A lot of this falls in line with what would most likely happen if a State passes the Constitutional Tender Act, which would require States to adhere to Article I, Section 10 of the U.S. Constitution, and use ONLY gold & silver coins in State transactions. Check out the paper "Ending the Federal Reserve from the Bottom Up" for a more detailed explanation of how this would lead to a "legal" gold & silver economy in the U.S.

ALL of these are the kinds of ideas that need to be "kicked around" as much as possible, as the present currency crisis descends upon us. Sound money is, of course, the answer; the question is, how do we get it re-introduced effectively, and quickly. The ConTen Act is most likely to achieve that goal.

Another State Introduces Gold & Silver Currency... In Malaysia

Why is the U.S. falling behind? The Malaysian national news agency "Bernama" reports that a second Malaysian state is planning to introduce gold and silver currency, in competition with the official fiat currency (the ringgit):

Perak Launches Gold Dinar, Dirham End Of Next Month

IPOH, Jan 25 (Bernama) -- The Perak state government will launch the gold dinar and dirham currency at the end of next month aimed at diversifying the types of savings for the people.

Chairman of the State Committee on Education, Higher Education, ICT, Human Resources, Science and Technology Datuk Mohamad Zahir Khalid said Perak was cooperating with the Kuwait Finance House (KFH) to introduce the gold dinar and dirham because it had vast experience in handling the currency.

"What is certain is that the currency introduced by Perak is vastly different from the currency introduced by Kelantan earlier. The difference will be explained by the Menteri Besar later," he told reporters after chairing the joint meeting with the top management of KFH, here Tuesday.

As noted in the report, the first Malaysian state to introduce the gold dinar and silver dirham as currency was Kelantan, in August of 2010. Interestingly, the Malaysian constitution (in ninth schedule, list I sub 7.a) does not allow its states to issue coins (much like the U.S. Constitution in Article I, Section 10); however, these coins are being privately minted by the "World Islamic Mint" under the authority of the Kelantan government (the Koran, like the Bible, forbids the use of fiat money and fractional reserve banking). The Perak gold dinars and silver dirhams will be produced by Goldnet International, a joint-venture company with the Perak State Development Corporation, in collaboration with KFH (Malaysia) Sdn Bhd.

Officials in Perak have started to backtrack a little after federal officials expressed concern about yet another Malaysian state introducing competition with their fiat money, insisting that the gold and silver coins will be "for investment rather than a mode of transaction" (good luck with that!), and saying they didn't "want the people to misconstrue that it is another form of currency exchange... We do not want people to misunderstand as the state has no authority to execute such a policy."

After all, banking cartels don't like competition, as we've seen from the Federal Reserve in the U.S. We can expect that the Feds will be just as adamant about stopping the States from returning to the Constitutional mandate that they use only gold and silver coins in their financial transactions.

Karat Top: Gold mania goes mainstream.

by Bradford Plumer
The New Republic
January 13, 2011

In the summer of 1932, Louis McFadden, a former bank president turned Pennsylvania Congressman, stood up on the House floor to reveal a sinister plot. Over the course of a 25-minute speech, he explained how the Federal Reserve — “one of the most corrupt institutions the world has ever known” — was being steered by a cabal of European bankers who had, among other sins, paid for Leon Trotsky’s return ticket to Russia and funded the October Revolution. But McFadden’s pleas to dismantle the Fed and embrace gold (in his view, “the only real money”) were greeted with ridicule. One fellow Republican joked that his poor colleague must be suffering from some sort of “violent disease” — one that “warps the judgment” and “narrows the vision.”

Eighty years later, however, the quest to take down the Fed and revive the gold standard is harder to laugh off. Already this year, in Georgia, a Republican state legislator, Bobby Franklin, has put forward a bill that would require all state residents to use gold and silver coins to pay their taxes — and it has gained surprising support. In Utah, another legislator has proposed allowing residents to mint their own coins and conduct state business with gold. Virginia delegate Bob Marshall is backing the study of a new state currency, as a fail-safe “in the event of a major breakdown of the Federal Reserve System.” (The last time Virginians had an official currency other than the dollar was during the Civil War.) Similar proposals are sprouting up in Montana and Idaho, all with the same goal — to free the states from the Fed, which, many gold bugs contend, has been eroding the value of the dollar and laying the groundwork for ruinous inflation.

If there’s an architect of this new state strategy, it’s William Greene, a 46-year-old conservative activist and founder of RightMarch.com, which he built to “counter the well-financed antics of radical left-wing groups like MoveOn.org.” Two years ago, Greene, who has a Ph.D. in theology and teaches part-time, was reading the Constitution aloud with students at Georgia’s Gainesville State College when the class stumbled over Article 1, Section 10: “No state shall … make any Thing but gold and silver Coin a Tender in Payment of Debts.” The idea hit Greene: What if residents in states like Georgia had to pay their taxes in gold and silver? Businesses and individuals would then have to start stockpiling gold and silver in their bank accounts. As the price of gold rose (as, he reasoned, it inevitably must) and the dollar’s value fell, Georgia’s gold-funded budget would find itself on solid footing. People from other states would flock to Georgia’s banks to open their own gold accounts. Eventually, the masses would rebel against paper money. “At that point,” Greene explains, “the Federal Reserve system will have become unwanted and irrelevant, and can be easily abolished.”

And so, in 2009, Greene took his idea to the Georgia legislature, where it earned a hearing in the banking committee, and drummed up interest from a number of legislators — over the frantic objections of local banking officials. Lately, Greene has been talking to other states, including a task force in Idaho, about his idea. “Going at this from the state level has a much higher chance of success in terms of the eventual elimination of the Fed,” he says.

READ THE REST OF THE ARTICLE HERE...

Original article here

Virginia Considers Dollar Collapse, Gold Currency

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.

READ THE REST OF THE ARTICLE HERE...

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!