This would be an option of having a currency in place state by state as a contingency measure when the Federal Reserve Note becomes worthless of no value. Hearing about how the Federal Reserve Bank is printing money devaluing the dollar.We face the US Dollar not being the worlds reserve currency in the near future.We see hyper inflation on the horizon because the more dollars are printed out of thin air.The less purchasing power we have as consumers.
The State of Virgina is looking into having an alternative currency in place when the dollar collapses so the government of the commonwealth can pay it debts and keep functioning. There will be the constitutional issues with the currency.Will the new money be another fiat currency or will it backed by a natural resource of the state to give its value? We will see. I hope Virgina comes up with a solution for the currency crisis that the other states can emulate nationwide.
Congress has ceded it constitutional authority to a privet bank in 1913. Having the bankers in control of the economy is been a repeated failure. If congress will not take control of the currency. Than the states should look for alternate solutions so the states can still function.The Virgina legislator is talking about solutions when the dollar tanks having a currency in place to replace the Federal reserve note as a contingency measure must be considered. States taking back control of its money supply like Virgina is looking into is a step in the right direction. I hope many states follow like Texas. We will just have to wait and see.