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We talked two weeks ago about a Virginia proposal to consider whether the commonwealth needed its own currency in the event of the collapse of the United States. It's only fair, then, that I note that the effort came to an abrupt end yesterday.
The U.S. dollar will remain the only legal tender in the commonwealth for now. The Virginia Senate today killed a House proposal that would have established a joint subcommittee to study the feasibility "of a metallic-based monetary unit" as an alternative to the dollar. [...]
"It seems to me we're facing a serious question: do we want to be ridiculed on 'Saturday Night Live' again? I suggest we don't and that we vote against the resolution," Sen. Janet D. Howell, D-Fairfax said today.
Under the circumstances, that seems like a reasonable standard.
To briefly recap for those just joining us, Virginia Del. Robert G. Marshall (R), sometimes referred to as "Sideshow Bob," wanted a taxpayer-financed study to examine the feasibility of Virginia having its own currency. As Marshall sees it, state policymakers have reason to fear the wholesale collapse of American civilization -- his strange theory has something to do with the Federal Reserve and the Weimar Republic -- and should prepare for the possibility that American currency might someday soon have no value.
Marshall has raised the idea before, but this time, his constitutionally-dubious plan -- states are not supposed to create their own currencies -- sailed through the House of Delegates, passing by a two-to-one majority earlier this month.
Yesterday, however, the state Senate, reluctant to make Virginia's legislature a national laughingstock again, ended this farce before it could go any further.
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Oops to late
As Virginia reels from the probing of liberal media a snicker arises from within. Lest we begin to think these hams are half-baked they find the cure for losing their allure as the place for lovers and sisters who marry their brothers. "Let's be less of a joke and and more like common folk!"
A sigh is heard from Monticello as the theatre of the absurd bows to the 700 and gets trumped by reality by the sea.
(I try,pitifully I try)
"Virgina reels" (excellent - Paul - excellent)
I'm a bit rusty - run the steps by me again. The dancers form up in 2 lines facing each other, do some elbow swings, sashay around a bit, and end up in their original postions?
I'm sure all are glad that the state legislature's idea of a metal based monetary unit - is Gone with the breaking Wind.
There's that paranoia as political strategy being employed yet again by another Republican policy-maker!
Instead of showing their fear of and paranoia toward their fellow Americans, these modern Republican tea drinkers should wake up and smell the coffee of the common good, our social compact, and our shining diversity as a free and liberty minded democratic people!
Otherwise, just like the dear Virginia Commonwealth representative, Republicans are reinforcing the "I don't want to go see Uncle Bob again" agitation felt by innocent young nephews and nieces when the next family outing turns into an urgent plea by the Middle Class to stop being politically crazy! -Kevo
Afraid of lame SNL snark? Really? Some much for the fearless, gun-totin' Tea Party patriots of the State of Presidents. Do they cry to their mommies when Jon Stewart makes fun of them?
A metallic based currency?
Cool! I have some old Black Sabbath and Led Zeppelin albums. I wonder can I use them to buy some of that famous Virginia ham?
Up here in PA we are looking into a "Fowl Based Currency". I hear that out west you can use it to pay your doctor.
Plus, like the Federal Reserve, you can print your own money- if you have a rooster!
Virginia will only take "Metallica" based currency, although you may be able to slip some Sabbath by them, or maybe Motorhead.
Gee, southern states with their own currency, it worked so well the last time.
You're so right!
From the book "The Summer of 1787" by David O. Stewart. "Virginian, James Madison, despaired that fictionous money produced warfare and retaliation among the 13 states. Monetary anarchy was not too strong a term. With different currencies of doubtful value yet not enough hard currency, every citizen was a currency trader, and every transaction presented a risk of being cheated." The ironic part is that the 55 delegates from 13 states who wrote our Constitution in 1787 was led by the Virginia delegates George Washington, James Madison and George Mason - a far cry from the soulless Virginians of today that presented this charade. They're obviously not fans of history. We had the problem of each state having their own currency and you're right, it didn't work out very well. We fixed it 226 years ago!!! Virginia, the stupid state where I now live. Uffda!
You're so right!
From the book "The Summer of 1787" by David O. Stewart. "Virginian, James Madison, despaired that fictionous money produced warfare and retaliation among the 13 states. Monetary anarchy was not too strong a term. With different currencies of doubtful value yet not enough hard currency, every citizen was a currency trader, and every transaction presented a risk of being cheated."
The ironic part is that the 55 delegates from 13 states who wrote our Constitution in 1787 was led by Virginians George Washington, James Madison and George Mason - a far cry from the soulless Virginians of today that presented this charade. They're obviously not fans of history to realize the problem of each state having it's own currency was fixed 226 years ago! Virginia, the stupid state where I now live. Uffda!!!
Sorry for the double post. I'll be re-reading iPads for dummies...
And would someone remind the modern Virginians and tea party that the reason that Madison, Mason, and Washington went to the Constitutional Convention was to design a government with the power to tax so that the country could pay its bills, especially the continental army and the debt to France.
Well, here in SoCal we have lots of seagulls, it's true. I think Gov. Brown should push for a "fowl-feces" based currency. We'll all be RICH! Look out Kochs, Calis comin' with the gull-dung dollars! WOOT
I'll vote for that if you include chicken feces. It makes really good fertilizer. Add a bit of straw and let it compost for a few months, and you have really good top soil. Then you can produce something of real value like tomatoes, melons, squash, potatoes.
Horse manure works really well too. And all kinds of feces along with some straw, tree prunings, wood cips, etc. can be processed into natural gas.
I'm sorry, but why is it ridiculous to have a competitive alternative to the US Federal Reserve Note? If you have faith in the monetary policy employed by the FED, then you can continue to hold onto dollars as your asset of choice. Why is it worth ridicule to consider an alternative? They could still trade those for dollars in order to trade with anyone that only takes dollars. If it's a stupid idea, then it would fail in the marketplace. It may be unconstitutional, I see that argument. However, I don't see the foolishness of it.
It is ridiculous because "money" is a store of value only if others believe as you do that any particular piece of paper or metal (or stone or whatever) has intrinsic, trade value. It is stupid because fiat money from the Virginia legislature surely and obviously would fail in the marketplace. It is foolish because there is no agreed market for Virginia-bucks.
On the other hand, if you fear the devaluation of Federal Reserve notes, use them now to stock up on things that you may need to survive the rest of your life--farmland and seeds, food and drink, weapons (controversially), and any useful education you see fit.
It's ridiculous because it's unconstitutional. You could look it up, if facts don't frighten you.
Scott Brown (Oh sooo apply named)
Article 1Section 10 Clause 1 No State shall enter into any Treaty, Alliance, or Confederation; Grant Letters of Marque & Reprisal; coin Money; Next time have the sense to look things up
COIN money.
You can make paper notes.
It happens all the time. They're called "alternative" or "Local" currency.
See: Ithaca HOURs as the most venerable example.
Furthermore, any note can be given value if a state demands taxes be paid in it.
If Virginia will accept it's new currency as tax money, people would instantly want it so they could keep their fed dollars.
It's not as hair-brained as some folk make it out to be.
What WOULD be silly is pinning the value to gold. It would largely defeat the purpose of local currency which is to increase commerce through local control of money velocity. When money is too tight, too few people can purchase local services. Tying local currency to gold would quite plausibly induce people of means to use VA dollars as a hedge.
Making economies more flexible, a key purpose of money, is not the goal of this specific proposal for state money and I frown on the plan, but not because it's unconstitutional nor without merit under the auspices of someone sane.
"COIN money. You can make paper notes."
William
Yes coin money. The problem with the Virginia state wanting make its own currency is that is was suppose to be coin money, not paper. Virginia was proposing exactly what the Constitution prohibits.
What we really need is more penny candy, and what are we supposed to use for our loafers? The answer would be to create more things that only cost a few pennies. Alot of board games use pennies too.
States may not issue their own "bills of credit" but the Constitution does not prohibit non-governmental entities, including you or I, from issuing ours. Therefore, community currencies have not been prohibited when they do not look like dollar. My book "Hometown Money" explains how to start and manage local currency. Based on my experience starting Ithaca HOURS.
If the @!$%# hits the fan, the US government will still be the one you'll want the currency from, and Joe's Wooden Nickels will be popping up everywhere a dime a thousand and will be worthless.
The dystopia fantasists totally underestimate the robustness of the human race and democracy and the government Americans have created. The only thing that can destroy it is if enough of these ignorant morons get themselves into office and start enacting gibberish like alternate currencies into law.
Reality played the SNL card and stopped this one. That's the system at work.
I'm sorry, do folks vote for idiots like this because there's a need for comedy in the White House? I am working my ars off trying to make ends meet, and we have schlock like this raking in monster dollars, and they don't even live in this century. Irritating as hell.
Too bad that this plan was stopped. Not only was it a source of legislative scrutiny, but it would have kept our Senate and Delegates busy on something relatively harmless. They can be very destructive and reactionary when messing around with actual laws. - Richmond, VA
Are these things timed on some sort of Republican circadian rhythm? South Carolina Legislator (State Sen. Lee Bright) called for the exact same thing, using almost the exact same words back in February 3, of 2011 (found an article in OTB-Outside the Beltway, and in GoUpstate.com). Also, you can find an article in CnnMoney.com dated Feb. 3, 2012 about North Carolina Rep. Glenn Bradley advocating his state's adoption of a new metal alternative currency. Apparently, Utah Governor Gary (2011) Herbert signed into Law a measure that would recognize gold and silver coins from the US Mint as currency for the purposes of avoiding Capital Gains Taxes. In South Carolina Rep. Mike Pitts wanted to allow the use of any gold coin from any country to be used as legal tender, but with the same tax avoidance impact. Washington State followed suit. Iowa, Minnesota, Georgia, Indiana, and Idaho were all considering similar measures back in 2011. Anyone wanna bet that they were all dominated by Republican legislatures? Look at Atty. Edwin Viera as a main proponent for these measures, and the likely expert cited when these legislators talk about these potential measures. Anyone want to talk about how having multiple states with their own currencies might lead the US economy to falter, and or collapse?
Maybe this is one of those ALEC-inspired bills. If so, we can expect to see versions of it in every red state soon.
July 15, 2025 News Wrap-up:
The President of Virginia has announced he will withdraw the ambassadors from Kentucky and Ohio because of continued border raids by those countries into Virginia and its closest ally, West Virginia.
Unification talks will resume with West Virginia and with The Carolinas. Those talks stalled unexpectedly when the Virginia Senate announced plans for a bill to require all hams come from Virginia. The bill, SB 231, was tabled pending further review.
Virginian women will finally have universal access to vaginal probe ultrasounds. The League of Lady Virginians filed suit last year saying that mandating VPUs only for women alleging rape was discriminatory. A Cabinet spokesperson announced the legislation today at the Jefferson Davis Capital Building.
Richmond was again placed on Orange Alert following reports of possible terrorist activities by the militant AFL-CIO. An envoy was sent to the political arm of the AFL-CIO, the WMWWS (Workers for Minimum Wage and Workplace Safety) to discuss peaceful solutions to grievances.
HB 444, the English as National Language Act, will go to the floor for a full vote following inclusion of an Amendment to exclude kitchen staff.
The value of the Gold Virginian rose 0.23% against the Carolina Pottery Note but dropped 1.04% against the Silver Gumbo and 0.87% against the Longhorn Treasury Certificate.
maybe it is not so crazy...Germany is repatriating its gold.....
States' rights has limits. READ THE CONSTITUTION.
Article I, Section 10 of the US Constitution: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
"make anything but gold and silver coin a tender in payment of debts..." So is a federal reserve note gold or silver?
That's "Federal Reserve Note" as in the federal government, not from one of the states. There is a difference.
I have a suggestion for the name of Virginia's new currency: The Loonie
I have a suggestion for naming Virginia's new currency: The Loonie
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We all should be careful how we operate or we may go to Virginia when we die.
I must have missed that episode.
Being from Virgina, I am totally embarrassed those idiots even attempted this!!!!
Nothing stopping Sideshow Bob from putting up his own money to study the situation. I'm sure he could get a few students from Liberty University to do it for him on the cheap.
Yes half the State is filled with nuts. Do they understand how much Fed money they have rolling around their State. OMG. Go ahead do it. The Fed can take the contracts to another state.
Obviously, there is no aptitude test you have to pass to qualify for the Virginia House of Delegates.