When I first saw the headline in The Washington Post (Virginia Senate kills measure that would have planned for currency collapse), I thought are they serious?   Apparently they are.

According to The Washington Post, the bill

would have set up a commission to study what the Commonwealth should do in event of the collapse of the U.S. currency.

The resolution — sponsored by Del. Robert Marshall (R-Prince William) — initially would have begun a study into whether the Commonwealth should develop its own coin or other monetary unit in the event of economic collapse.


Utah already has law planning for this.  

Utah’s law recognizes coins minted by the federal government from precious metals, intended for use as investments or collectibles, to be used as legal tender anywhere in the state. One Utah company even advertises the coins for use in 401(k) retirement plans.

And The Huffington Post has previously reported that State Rep. Jerry O'Neil, a legislator in Montana, requested to be paid in silver and gold, sending a letter which stated:

It is very likely the bottom will fall out from under the U.S. dollar. Only so many dollars can be printed before they have no value. The Keynesian era of financing government with debt appears to be close to its demise.

If and when that happens, how can we in the Montana Legislature protect our constituents? -- The only answer I can come up with is to honor my oath to the U.S. Constitution and request that your debt to me be paid in gold and silver coins that will still have value when the U.S. dollar is reduced to junk status. I therefore request my legislative pay to be in gold and silver coins that are unadulterated with base metals.


The Virginia bill, which was killed in the Virginia Senate today, previously passed the Virginia House by a vote of 65-32.


Stay tuned for further wackiness on this subject. I am sure that we have not seen the last of these proposals.  


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