This a.m. a Virginia topic caught my attention. It seems that a proposal was made several years ago for Va. to develope their own currency? Reports say this was largely ignored (makes sense), but has now resurfaced and is gaing traction.
Apparently there are growing concerns over Washington's spending & our nations debt. This would be a very interesting concept if it were accomplished. Va. legislative officials propose that their currency would be more financally sound than 'the Fed.' ?
Aside from the appearance of this being a pipe dream, can anyone shed more light on this 'concept' ?
Virginia continues to be a laughingstock with McDonnell as Governor & Republicans controlling the GA. And they have that Attorney General who keeps sueing climate scientists. What a shame after Virginia produced Kaine, Warner & Webb over the last decade.
Do you think if they keep this up they'll lose their reputation as a great state for business? I think they may. You can't do business in a state run by nutjobs trying to replace the US dollar. Do you think anyone will want to use a currency backed by the full faith and credit of that group of loons? What woman would want to work in that state now?
Virginia has been a fast growth state in its urban areas and is now decidely blue. But with Republicans controlling gerrymandered rural districts it has become a microcosm of our national situation. An sophisticated and young urban majority ready to move the country forward with a backward, older, rural minority clinging to institutional power, trying desperately to move the country backwards.
Replace the U.S. dollar? Ever read on a bill. "Federal Reserve Note?" The "fed" is a privately owned banking and money creation system. The bills are printed at cost by the Treasury and used to buy interest bearing government notes. How do you like paying vigorish on "your own" money? There would be NO MONEY in circulation but for coinage. The money is created but not the money to pay the vigorish. It is a gigantic Ponzi scheme that eventually collapses as more and more debt accrues. Do some study and quit being a fool.