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  • #2
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    So long as any alternative currency is based on the gold standard and sticks with the gold standard. Coinage should also be based on gold and silver, not aluminum, steel, copper (well maybe copper), etc. I'm fine with it. The way 0bama and CONgress are spending, it's apparent the U.S. Dollar is clearly on the decline. Good for the Great State of Virginia for being proactive in this.
  • #6
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    I'd love to see a gold-backed state currency. But I have questions.

    Where do they get the gold?

    How long do you think that currency would stay in circulation?

    Gresham's Law...
  • #11
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    The dollar hasn't bee connected to the gold/silver standard in years....in is based on debt....if states currency would be tied to the gold/silver standard states currency could be of more value than the dollar....that would make things interesting....
  • #16
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    @Knightmare It certainly would entice me to use VA. Currency over the U.S. Dollar....again, in that hypothetical situation...
  • #48
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    Being a Virginian (in NoVA), I think it would be an interesting item, bringing back a degree of states' rights (to a "degree"). I also wonder exactly what the basis of the currency would be and really need to look over the proposal more specifically. Hiowever, Obama is NOT exactly keeping the country "together," and in backing an attack on the 2nd amendment? Even to try to water it down? Folks, WE, the People, can NOT allow that to happen...

    Regarding the dollar(s), being a Virginian, I would only be scared that the 1st person on one of our state dollars wouldn't be Bob McDonnell, and am scared the state treasurer might put "state of the transvaginal device/probe..." LOL!

    I'm a man, yet fought against such an idiotic measure & law that Bob McDonnell, himself, first wrote! He really bel;ieves in what he wrote, too! I know Cuccinnelli, the state's AG, and is somewhat different than Bob McDonnell... Thank goodness!
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  • #10
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    It takes a 10 member committee to evaluate this? It would only take one 10 year old to know this a bad idea. I wonder if this committee is going to be allowed to get paid with its own currency?
  • #19
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    Free lunch, and expense account for 10 tea party members, ten wallets to be fill by lobbists plus the ten year probably knows more about government the these headline humters
  • #33
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    @Thunderchicken - Uh-huh.. and you'll share it but only one round at a time delivered at the muzzle velocity. LOL
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  • #25
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    If the dollar should collapse, a different currency that is backed up could keep that state in the world market. The chance of the dollar collapsing due to debt is very real.
  • #14
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    I can see wanting to detach from the dollar because of improper use of it by are government but not sure how you'd fund large savings and pensions that are dollar based and would have to convert. Will commodities take this new from of currency? Like I said I see why you'd want to distance your self from the dollar but I don't understand how.
  • #12
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    I think they should join forces with Texas as they seem to want out to ,I think it's a shame that this is the best people that we can come up with to hold public office.
  • #18
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    Just another crazy tea party scheme wasting your tax dollar's and making themselves look like it idiot extremists to "normal voters"
  • #20
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    Well, unlike Virginia I live in a state where we pay more into federal taxes than we get back. Seeing as Virginia is actually 9th in terms of federal tax dollars received in aid compared to what it gives I can't imagine they have the capital to back their own currency. If they want to start paying their taxes in Virginia bucks it's time to tell them what they can do with it. It won't be worth the paper it's printed on is another way of saying it. All it can do is destabalize a market. No good will come of this. Instead of talking about printing money perhaps their state legistlature could learn to balance their books and try and create some jobs in their state.
  • #31
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    @frigginhell those figures are fairly pointless. Norfolk, VA is the US's largest naval base and billions are spent to support it. Items like that skew those figures
  • #64
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    @Yank That's not part of the budget spending we;re talking about. Or at least I was talking about. Military spending is accounted for seperately. Nothing is skewed as a result. It would be convenient if it was but it's not. Unless there are a lot of foodstamps being passed out on the base.
  • #67
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    @frigginhell Actually if they follow tge constitution it will be worth something that can be measured in terms of actual value, as the constitution states that no state can create any currency that is not gold or silver. This is a very good idea, except they need to buy the gold or silver to finance it. I think the cost of that in itself could end the project...
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  • #79
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    According to the US Constitution only the Congress has the power to coin money and set its value. But then, how do we explain why a foreign owned bank (Federal Reserve) has been doing it for almost 100 years?
  • #63
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    These states that want to secede are fools! Have you all ever thought of the United States sanctioning you dummies! You'll never survive in your own little island!: D
  • #60
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    Will NEVER happen without major war in United States and at that point we will no longer be united. Think! Were one counrty with one curency
  • #51
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    Actually it's a pretty good idea. The value of paper money is predicated on trust not reality. Having a state certifying that a coin has 1 ounce of silver or gold definitely has some merit. There are a number of countries that experienced hyperinflation and eventually utilized foreign currencies as their domestic currency. The idea of creating a currency that is based on real value not trust shouldn't be dismissed.
  • #44
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    His proposal would set up a 10-member commission to study "the need, means, and schedule for establishing a metallic-based monetary unit to serve as a contingency currency for the Commonwealth," the Post wrote.

    How much is this costing the taxpayer?
  • #43
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    Prior to the United States currency, I believe states had their own "currency." I could be wrong, but as long as the Federal government keeps floating the currency with interest rates being where they are the dollar should hold its own...cutting spending and actually revamping the tax code will go a long way to helping the dollar rebound.
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