State Currency: Swingers Discussion 2165091028

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State Currency: Swingers Discussion 2165091028

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TOPIC: State Currency

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User Details are only visible to members.	A quick search says that Article I section 8 of the constitution says that only the Federal government can coin money. The actual text says: The Congress shall have power (among other things) To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; Some say this means that the Feds have a monopoly on currency. But the Feds don't have a monopoly on other things listed as powers of Congress, such as taxation. I dunno. Legally maybe this iffy but possible. Practically, seems silly.
Chesapeake VA			Username hidden (11695 post)

User Details are only visible to members.	I saw this article just now: dailycaller. com/2013/02/06/virginia-moves-close-to-creating-states-own-currency/ The opening blurb: Lawmakers in Virginia say they want to keep their options open in case the value of the U.S. dollar ever collapses — so they’re considering minting state coinage. The Washington Post (w ww.washingtonpost. com/business/economy/virginia-coin-moves-closer-to-reality/2013/02/05/9bcdd532-6fa4-11e2-ac36-3d8d9dcaa2e2_print.h tml) reported Tuesday that a proposal to study the effectiveness of such a plan “sailed through” the state’s lower house this week: The idea that Virginia should consider issuing its own money was dismissed as just another quixotic quest by one of the most conservative members of the state legislature when [Virginia Del. Robert G.] Marshall introduced it three years ago. But it has since gained traction not only in Virginia, but also in states across the country as Americans have grown increasingly suspicious of the institutions entrusted with safeguarding the economy. ------------------------- So, I'm attempting to be open minded here, although on the surface this just sounds like a silly stunt. A couple basic questions: 1. What are the legal matters involved for a state issuing currency? 2. What, if any, impact could come of it, either positive or negative?
Chesapeake VA			Username hidden (11695 post)

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TOPIC: State Currency