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It's fodder for the Tea Party. They know perfectly well such a bill would never get past the Virginia Senate or signed by the Governor. In the unlikely chance it did pass, VA would risk forfeiting billions in federal expenditures, kill all interstate and international commerce, and an immediate call on all VA bonds and debts in dollars. But hey, gotta keep feeding the fringes so they show up on Election Day...
This is basically it, it will never make it through to the governor, but it will keep the far right happy and showing up on election day to vote.
Many towns and communities have their own currency. It boosts the local and state economies.I think its a wonderful idea.
That is true, some small towns and small communities have their own money to promote their area so that people spend money there. It is basically treated as glorified coupons.
Didn't they do something like that over a hundred years ago? Didn't turn out so well from what I read. Anyway, I can see trying to spend a Virginia Dollar in Colorado.
States would be force to balance the books or go bankrupt. In terms of Gold & Silver thy would not be able to print additional Gold & silver to erode the currency, they would see price stability and their purchasing power would rise if the Federal government continues printing endless bank notes.
It is dumb because it will be as worthless as the money issued by Virginia from 1775-1787 and between 1861-5. It would only have value if it is backed by the full faith and credit of the people of Virginia and Virginia would have to buy 100s of billions of dollars of gold or silver to back it or even mint it. I'm sure the people of Virginia would like to pay the additiuonal taxes to do such a thing. Heck Virginians can't even agree on spending a few billion dollars to fix their aging lousy highways!
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