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Virginia Exploring Its Own Currency.


Rambler
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That would be hilarious. Why would they do this?

Because gold is at record highs. So adopting a money system based on gold right now allows them to print and distribute a lot of currency. When the price of gold drops, all of that currency won't be worth the paper it's printed on because as the price of gold drops, the value of their dollar drops in comparison to other currencies. The rich people can shuffle money between the two systems while the value is high, and buy it up for pennies on the US dollar when the bottom drops out.

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The Articles of Confederation failed. That was over 200 years ago.

Do I think that Virginia will be circulating its own currency anytime soon? No but I think that the serious discussion by the Commonwealth as well as 3 other States only underscores the serious lack of confidence that many have with this nations commitment to getting its fiscal house in order. The discussion is only going to get louder in time.

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For each individual state to have its own currency would be the best thing for this country. Eliminate the Federal reserve and all of the puppets they have controlling our country. There is to much power placed within one private entity right now. dispersing power throughout the country would do a lot to eliminate that corruption and corrupt politics.

Edited by Negatron
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For each individual state to have its own currency would be the best thing for this country. Eliminate the Federal reserve and all of the puppets they have controlling our country. There is to much power placed within one private entity right now. dispersing power throughout the country would do a lot to eliminate that corruption and corrupt politics.

Well that would effect your global standard quite a bit because you would not have the safety of the United States so there would be a lot less investment in the economy, also that just sounds annoying as **** to anyone who travels.

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For each individual state to have its own currency would be the best thing for this country. Eliminate the Federal reserve and all of the puppets they have controlling our country. There is to much power placed within one private entity right now. dispersing power throughout the country would do a lot to eliminate that corruption and corrupt politics.

Again, we tried this over 200 years ago. It failed. Get over it.

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I'm starting to think it's all a con. The opposition party intentionally goes of the rails suggesting insane things just to give the people no choice but to support the current administration's agenda that certainly isn't in their best interest.

Bad ideas are more favorable when compared to insanity.

That is why I say the 2-party system is dead

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this country is in a totally different situation now as compared to two hundred years ago. Stop being an Obama lemming.

if every state had their own currency, would it be worth anything in another state? would one georgia buck = one north dakota buck? would all states be forced to accept currency from another state? if i go to a best buy in florida, can i use a georgia buck? would best buy then have to convert my georgia buck to a florida buck to pay the employees?

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Random thoughts on a random thread:

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...just thinking about the potential money to be earned by any banking entity/credit card company by charging inter-state exchange fees on the 50 state currency conversions, they way they do today when you use an ATM in a foreign country to get funds from your US account.

Let's not even think about the general confusion that would come from routine interstate commerce and international commerce.

Maybe we can erect border crossings between each state and start issuing state-by-state passports and visas to go along with the state by state currency. This could be a job creating machine!

Wondering how currency from bankrupt states like California and New York would be valued.

Seriously...a few attention-whore legislators trying to make a point is a far reach from divorcing themselves from our national currency.

It's also worth noting that neither Republicans nor Democrats have a monopoly on stupidity or pandering; however, both parties seem to be united in their general lack of common sense and intestinal fortitude.

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To be clear, every state that based the dollar on the gold standard would have a 1 to 1 exchange rate. If $1 is backed by $1 worth of gold, the price of gold is a universal standard and the conversion would be identical. The issue would come in when exchanging between currencies that are not on the gold standard, like the US $1.

The US owns roughly $340 billion dollars worth of gold (roughly 8000 tons). There is just over $2 trillion in bill circulation. That means every US dollar is worth about $0.17 worth of gold. In other words, $1 under a gold standard would be an exchange rate of $5.88 US dollars.

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