Good or bad idea?
Virginia Del. Robert G. Marshall fears that a financial apocalypse is coming and only one thing can save the Commonwealth: its own currency.
The idea that Virginia should consider issuing its own money was dismissed as just another quixotic quest by one of the most conservative members of the state legislature when Marshall introduced it three years ago. But it has since gained traction not only in Virginia, but also in states across the country as Americans have grown increasingly suspicious of the institutions entrusted with safeguarding the economy.
This week, the proposal by the Prince William Republican sailed through the House of Delegates with a two-to-one majority.http://www.washingtonpost.com/busine...2e2_story.htmlEfforts to establish alternative currencies amount to an economist’s version of a Fed boycott. But how the system would actually work remains murky. States do not have the constitutional authority to print money, but Marshall believes a potential loophole exists that could allow states to coin silver and gold.
It's like Virginia would become a different country and I think it'd be disastrous.The fact that it passed through the House of Delegates is scary. But I'll admit, it would be just a bit interesting for me since it's a neighboring state.