| Author |
 Replies: 20 / Views: 2,166 |
|
Valued Member
United States
134 Posts |
Don't know how far this will go, but with our disaster of a national economy, who knows? Apparently, a few other states are considering doing the same (or nearly the same), notably Utah (recently approving a law recognizing nontraditional currency). IF Virginia issued its own coin and note currency, I wonder how much would circulate and how much would be hoarded. Another issue to consider: the United States Constitution (Article I, Section 10) decrees that "no state shall make anything but gold and silver coin a tender in payment of debts". Thoughts? A couple articles on the subject: http://fairfaxstation.patch.com/art...val-36685665http://www.bizjournals.com/washingt...pproves.html*** Moved by Staff to a more appropriate forum. *** |
|
|
|
Pillar of the Community
United States
1302 Posts |
it won't go anywhere. Congress has the authority to coin money- not the states. this is just conservative showboating.
|
|
Pillar of the Community
United States
4901 Posts |
...and how would you buy it? With US Dollars? So it is married to the dollar anyway? Would you have an option to be paid in VA bucks or Us currency? Who would choose a currency that is only valid in their state? Would businesses have to option to accept the currency for payment or not? What is it backed by? The State Government? That's comforting.... Now, if you want to secede from the US then that'll work...and good luck with that. It WILL work on the walled compound (a.k.a. "bubble") where everyone will live and work ...like the planned Glen Beck City Get real....  |
|
Moderator
 United States
188102 Posts |
Quote:
Congress has the authority to coin money- not the states Coins, no. Currency, yes. But I agree, it will not go anywhere. I think Foxwoods said everything I planned to say (and then some).  That being said, let us tread lightly here or this thread will have to move to General Discussion. |
|
Pillar of the Community
United States
1796 Posts |
Aye this makes me curious.
Will it be a modern issue similar to the Connecticut "Value Me As You Please" Coppers? That would be fascinating. :-)
I could see practical use of those stamped with weight and fineness in silver or gold.
I also don't see this going very far.
|
|
Pillar of the Community
United States
1200 Posts |
Steve---You pegged this one perfectly in saying it won't be going far. However, if it ever does go as far as actual production and issuance of anything, it'll be a collectors heyday.
|
|
Bedrock of the Community
13014 Posts |
Quote:
it'll be a collectors heyday. More like nightmare on the wallet. 6 states look poised to do it and I dont believe Texas is one of them so you can be assured they will follow suit. Thats a lot of new series to start  It may or may not go anywhere. It would be tied to the dollar in someway and could be a way for better performing states to become more desirable to people. A Va dollar would certainly get you more federal dollars than a CA dollar looking at state budgets ect. IF washington were to get serious about addressing the debt you would see these ideas go away real fast. Until that day though never say never |
|
Valued Member
United States
362 Posts |
Smells like a way to coin some sort of state coin and then sell it to raise revenue, or like it was said earlier just showboating. Either way it's just another disgruntled set of voters (via their representative) making their voices heard, even if it's in a childish manner.  |
|
Pillar of the Community
United States
1721 Posts |
First, the currency/money then we take Fort Sumter. Who's with me boys? Sic Semper Tyrannis  ! The new CSA. Currency States of America. |
|
Moderator
United States
23522 Posts |
I've spent a half-hour trying, and cannot come up with something to post here which will not drag the topic straight into GD.
Ludicrous.
|
|
Pillar of the Community
United States
1200 Posts |
I'd like to see these rambunctious (or at least puffed-up and posturing) states issue their own 1oz silver coins of some kind. If they held them down to around
a $3/oz premium level, I could definitely see loading up with a few tubes of that kind of thing.
Those little Pacific island venues like the Cook Islands, Palau, Niue, etc make half or more of their annual GNP selling all those ultra-fancy, crazy expensive
coins that they're known for. In today's hard economic times, I don't think there's any good reason the states shouldn't capitalize on the coin collecting/PM
stacking market and make a little money.
Silver Bullet Silver Shield has already set up the business model. If the states followed suit in their own fashion, I think they could collar some decent revenues.
No sense leaving all the potential money on the table for the SBSS crew to harvest.
|
|
Pillar of the Community
United States
1211 Posts |
Freddy, while I like your idea and I think it is a fine alternative, the point that is attempting to be made is a political statement - not a fundraising measure.
I think everything that has already been stated (by the first 3 posters) has summed up any input I could offer into this discussion. Well put.
|
|
Pillar of the Community
United States
1200 Posts |
Correct, understood and agreed, but... That doesn't give SBSS monopoly rights and it doesn't preclude the states from pursuing their own agendas as well.
|
|
Pillar of the Community
United States
1391 Posts |
There are many tribes that mint their own coins. Some of them are used as legal tender on the reservations and circulated next to the standard U.S. coins. Most of them are minted for the collectors market though so they aren't circulated. The tribes are in a similar situation to the states, yet distinct because they are 'internal dependant nations.'
|
|
Pillar of the Community
United States
3253 Posts |
SsuperDave! That's exactly why I haven't posted yet!
|
|
Pillar of the Community
United States
4132 Posts |
What's up with states longing for the days of the articles of confederation? Let's party like it's 1786!
|
| |
Replies: 20 / Views: 2,166 |
Posted 02/06/2013 10:46 am
