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Old 07-14-2011, 02:20 PM
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Jeanfromfillmore Jeanfromfillmore is offline
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Default Legislator Proposes Alternative Currency in Response to the Diminished Dollar

Taking Liberties: Legislator Proposes Alternative Currency in Response to the Diminished Dollar
Bob Marshall admits he’s obsessed watching the U.S. dollar’s value diminish.
“It’s everything,” he said, as he walked outside the Manassas Virginia train station. “It’s all I think about. It’s all anyone should be thinking about.”
Marshall, who is a Virginia State Representative, says it’s time for something radical.
“I want to see the states step in,” he said. “It’s time. Past time.”
Marshall wants the state of Virginia to have its own currency to create what he calls “competition with the U.S. dollar.” He also says it will protect Virginia if the dollar falls even further.
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“Our role as state legislators,” he explained as an Amtrak train rolled through the station, “is to protect the people, and the federal government is not doing its job.”
He points out the dollar’s value has fallen nearly 40 percent since 2001, and he says with a record debt and deficit it’s, only going to get worse.
“What I hope to accomplish,” he said, “is to put the brakes on this train that is running away down the tracks.”
“I don't see any brakes applied in Washington the only ones that can do it are the states.”
Marshal isn’t alone. Fifteen other states, (Wash., Idaho, Mont., Utah, Colo., Okla., Mo., Ind., Tenn., Ga., S.C., N.C.,Vt., Iowa, N.H.) are currently or have recently considered proposals for creating alternative currencies.
Some Constitutional experts call the trend “disturbing” and “blatantly illegal.”
“The Constitution flatly prohibits states from issuing their own currency,” says Eric Freedman, “whether in the form of coins or in the form of paper money.”
Freedman is a professor at Hofstra Law School in New York, and he predicts “economic catastrophe,” if each state has a competing currency.
“That would be the destruction of the country,” he said. “Even at the time of the Civil War it was thought that two separate countries wouldn’t survive with two separate currencies.”
“This is a proposal for 50 [currencies] in the same geographical territory. It’s ludicrous.”
“Well, I will tell you what's more devastating,” replied Marshall, “A Weimar Republic-style inflation where you have to take a wheelbarrow full of money to buy some bread,” referring to the Germany in the early 1900's that suffered under massive hyperinflation.
“The legal experts,” he continued, “should not just look at court decisions. They should look at the original debates about the Constitution.”
Marshall points out that James Madison, who is often considered the “Father of the Constitution,” “expressly talked about eliminating the power of Congress to emit bills of credit.”
“Do you know what bills of credit are? Paper money,” said Marshall.
He said he’s going to spend his time this year to convince fellow legislators to pass the proposal next year.

Read more: http://www.foxnews.com/us/2011/07/14...#ixzz1S7HzggKQ
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Old 07-14-2011, 06:07 PM
Don Don is offline
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The only presidential candidate who has told the truth about the US Economy is Ron Paul in his attacks on the Federal Reserve System.

Recently even RINO Newt Gingrich tried to bolster his faltering campaign by calling for an audit of the Fed. RINO Hugh Hewitt accused him of "anti-semitism", but GIngrich responded that we had a right to ask questions about the Fed, notwithstanding that the "nuts" out there. (If you think America has the same "right to exist" as Israel, you're a "nut." Got that?) Hewitt has said that the Federal Reserve has done a "good job of managing the currency" and that talking about the Fed does not make "good radio." (Smearing American nationalists who oppose the 3d world invasion as "nuts" "zenophopes", and "bigots" makes good radio for Hewitt.)


When I was in college, my favorite candy bars cost 10 cents. I could by 10 of them with one dollar. Now they cost $1.19 at the store. This means my dollar has lost more than 90% of its value under the Federal Reserve's management. We badly need alternative currencies...gold and silver coins are a good start. Better than cigarettes and nylon stockings such as were used in the aftermath of WW2 when the economies of so many countries were destroyed. The Fed was designed as a looting machine. Bankers get to create $$ out of thin air, loan them to the government, and peasants like us have to work to pay taxes to pay the interest...we have to create real products and wealth...we can't pay our taxes with home made money.
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