Virginia House takes step to create its own currency

[Landslide Lyndon]

http://abcnews.go.com/blogs/politics/2013/02/virginia-lawmakers-want-their-own-currency-but-dont-bet-on-it/

Will Virginia start minting its own currency?

It’s an idea worth considering, according to the state’s House of Delegates.

The lower chamber passed a bill Monday to study the possibility. The legislation, proposed by Manassas Republican Del. Robert Marshall, would create a new joint subcommittee made up of lawmakers, plus two outside experts, to “study the feasibility of a metallic-based monetary unit.”

The committee could spend up to $17,440 and would present its recommendations before the legislative session starts in 2014.

Translation: Ten people would advise Virginia on whether to start making its own currency on a gold or silver standard.

It’s not the first time Marshall has proposed such legislation. Versions of this bill have been floating around since 2011. Its preamble is rife with damnations of the Federal Reserve and its “unprecedented monetary policy actions” and “activist intervention in banking and credit markets,” the point being that Virginia can no longer trust federal fiat money, and might need “a more stable money unit consistent with limited government.”

The heavily Republican House of Delegates passed it 65 to 32 Monday.

[Franzl]

LOL. Joke party.

[The world will shine with light in our nightmare]

Perhaps they should call it the Dibble!

[Kaine for Senate '18]

Perhaps they should call it the Dibble!

I'll write my delegate

[Small Business Owner of Any Repute]

What the F--- is wrong with these people?

[Marokai Backbeat]

LOL. Joke party.

[Okay, maybe Mike Johnson is a competent parliamentarian.]

Is that even constitutional? Because I really don't think it is.

[MaxQue]

Is that even constitutional? Because I really don't think it is.

Who cares? That won't pass Senate. Virginia Senate is tied, and the tiebreaker is the Republican Lt. Gov., which seems to aim to run as an independant in next gubernatorial elections, so, he is very centrist right now and voted down a couple of Republican bills.

[DC Al Fine]

Is that even constitutional? Because I really don't think it is.

Exactly...

Also it should be called the DeMint... Get it? Da Mint

[Franzl]

Is that even constitutional? Because I really don't think it is.

No, hence:

LOL. Joke party.

[FEMA Camp Administrator]

Totally in support. Hopefully Michigan can take a hint and start doing the same.

[muon2]

Is that even constitutional? Because I really don't think it is.

Since the bill would only create a study committee there is no constitutional question. It looks more like it's a way to officially bash the Fed.

[Badger]

Totally in support. Hopefully Michigan can take a hint and start doing the same.

In the name of God, why? This is beyond stupid.

[Franzl]

Totally in support. Hopefully Michigan can take a hint and start doing the same.

In the name of God, why? This is beyond stupid.

For freedom, the Founders and apple pie!

[bedstuy]

Why is this unconstitutional?  Article I gives Congress the power to create currency but it doesn't take it away from the states. And states had their own currency routinely in the 19th century.

Maybe there's some preemption argument to be made or some federal statute about this but it's not clearly unconstitutional. 

But, of course this is thoroughly ridiculous.  The Republican party needs to raise their standards and get rid of these nuts in elected office.

[True Federalist (진정한 연방 주의자)]

Article I Section 10 explicitly bars States from coining money, or issuing paper money that would be legal tender (called "bills of credit") or accepting anything other than gold or silver coin a tender in payment of debts.  A State could issue currency-sized bonds with the intent that it be used as paper money, tho that is heavily frowned upon and it could not require that they be accepted as legal tender.

However, if a private mint were to start coining silver or gold coins, there is nothing that would bar a State from specifying that as legal tender in place of Federal Reserve Notes. Indeed, one could argue that ever since the gold backing was removed from Federal Reserve Notes, the states could not constitutionally accept them.  Our constitution does have a strong bias in favor of hard currency.  Not to the extent of making fiat currency unconstitutional, but definitely pro hard currency.

[Mehmentum]

Alright, so suppose Virginia does pass this, who would actually use this currency?  I think nearly everybody would continue to use dollars.

[Middle-aged Europe]

http://abcnews.go.com/blogs/politics/2013/02/virginia-lawmakers-want-their-own-currency-but-dont-bet-on-it/

Will Virginia start minting its own currency?

It’s an idea worth considering, according to the state’s House of Delegates.

The lower chamber passed a bill Monday to study the possibility. The legislation, proposed by Manassas Republican Del. Robert Marshall, would create a new joint subcommittee made up of lawmakers, plus two outside experts, to “study the feasibility of a metallic-based monetary unit.”

The committee could spend up to $17,440 and would present its recommendations before the legislative session starts in 2014.

Translation: Ten people would advise Virginia on whether to start making its own currency on a gold or silver standard.

It’s not the first time Marshall has proposed such legislation. Versions of this bill have been floating around since 2011. Its preamble is rife with damnations of the Federal Reserve and its “unprecedented monetary policy actions” and “activist intervention in banking and credit markets,” the point being that Virginia can no longer trust federal fiat money, and might need “a more stable money unit consistent with limited government.”

The heavily Republican House of Delegates passed it 65 to 32 Monday.

Sounds like the first steps towards secession.

[FEMA Camp Administrator]

Totally in support. Hopefully Michigan can take a hint and start doing the same.

In the name of God, why? This is beyond stupid.

I don't know about the rest of you, but some of us Real Americans like our politics to be entertaining. Something the elites could never understand, I guess. After all, your free time is spent aboard private jets with your mistresses while the Average Joe has only the trash on television to sustain him.

[Frodo]

Don't get too excited -it's merely an act of protest against what some in the GOP regard as the recent excesses of the Federal Reserve under Ben Bernanke.  Republicans know full well this will never pass in the Senate, and even if it did, it is highly unlikely that Gov. Bob McDonnell would ever sign it.  

[Badger]

Don't get too excited -it's merely an act of protest against what some in the GOP regard as the recent excesses of the Federal Reserve under Ben Bernanke.  Republicans know full well this will never pass in the Senate, and even if it did, it is highly unlikely that Gov. Bob McDonnell would ever sign it.  

True, as is the fact people would (mostly) still use the dollar. But it's a symptom of a much deeper problem.

And yes, Cathcon, I guess this does count as 'entertaining'.

[○∙◄☻¥tπ[╪AV┼cVê└]

Weird, but hardly the worst bill to pass the Virginia House.

[Frodo]

Don't get too excited -it's merely an act of protest against what some in the GOP regard as the recent excesses of the Federal Reserve under Ben Bernanke.  Republicans know full well this will never pass in the Senate, and even if it did, it is highly unlikely that Gov. Bob McDonnell would ever sign it.  

True, as is the fact people would (mostly) still use the dollar. But it's a symptom of a much deeper problem.

The problem being that there is a strong contingent of whites who no longer feel that this is their country anymore?  Yes, it is concerning.  Fortunately, they are mostly older whites from another generation.  I strongly doubt that their younger counterparts (i.e. our generation) will be as attracted to secession. 

[memphis]

Amid all the hysteria about "fiat currency," has there ever been a time when the dollar was more sound than it is today? We have no inflation. No signs that anybody has reservations about accepting our currency. But I guess the GOP has to keep a sizable part of the public suspended in perpetual panic. Otherwise, there'd be no need for a GOP.

[Zioneer]

Oh hey, now my state can finally have a chance to use its own metallic currency law! In 2011, we signed into law legislation that says that Utah will accept gold and silver as valid currency. Deluded-currency bros unite!