It's a bit like BitCoin
A bill proposal being pushed in Virginia wants to examine the role that an alternative currency might play in saving the state from economic catastrophe.
The Republican-led legislation is debating whether Virginia "should adopt an alternate medium of currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System."
Virginia Delegate Robert Marshall fears the effect of "hyperinflation," the Washington Post reports
. He cites Thomas Jefferson's "deep concern about the social instability that may ultimately result from bank-issued paper money."
But it's a concern not shared by at least one of Marshall's Democratic colleagues, who thinks the whole idea smacks of silly.
"Are we seriously going to spend taxpayer resources studying a replacement to the world's backbone currency?" asked Del. Mark Sickles, Virginia's Democratic Caucus chairman. "Are we descending into la la land?"
Via the Washington Post