42 votes

Virginia Proposes Alternative Currency In Case Of Federal Reserve Collapse

PODCAST (NPR) - Robert Siegel speaks to Virginia Delegate Robert Marshall about why he feels that the commonwealth needs to have other currency available in case anything happens to the Federal Reserve System.


Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Competing Currency is Easier Than You Think

There's nothing in the federal legal tender law that I have read that prevents businesses and private citizens from conducting transactions with gold or silver or anything else they want.

What presently prohibits it is that many states (like my home state of Indiana) taxes the "sale" of gold and silver coins. If I have to pay 7% sales tax every time I want to trade my paper money for gold and silver money, it's never going to be feasilble for me.

If this state sales tax goes away, then we have a feasible alternative currency to the Federal Reserve Note. It would allow people to protect their earnings and savings from the inevitable rising inflation due to the Fed's huge expansion of the money supply.

Note: Indiana General Assembly just introduced senate bill #99 (Use and tax of gold and silver coins) that does just that. Sadly, it has little support among Indiana's legislators.


Looks like we Hoosiers are going to have to get on our state legislators and push the issue then. I personally don't like to pay tax on one form of currency for another.

"Never be afraid to raise your voice for honesty and truth and compassion against injustice and lying and greed. If people all over the world...would do this, it would change the earth. "
— William Faulkner

Many competitive solutions

One Monopoly Money Power

Not news:













"Bills of exchange, bank checks, and negotiable paper of all sorts add just so much to the body of the currency; and this issue is unlimited by law, and unlimited in fact, except by the exigencies of trade. They are just as really currency as the specie dollar, the greenback, or the bank bill. A field which has no fence up one of its sides is not fenced in, no matter how high and strong its fences may be on the other sides. So, the volume of currency is not, in any true sense, limited by prohibitions of free banking, by a return to specie basis, or by any other means, so long as negotiable paper can be freely issued by individuals; and this free issue of negotiable paper is too useful, and too well entrenched in necessity, ever hereafter to be interfered with. Commerce can be hindered and trammeled to some extent—by statute arrangements claiming to regulate the currency, whether by restrictive measures, or by flooding the community with over-issues; but the volume of the currency can no longer be adjusted by such means."

The reason why The FED remains powerful is a blind, or abject, belief in falsehood without question.

This is the Mob Rule when the Mob is Brainwashed, or their consent is manufactured.

Response conditioning

Behavioral modification

This happens:


Section 4.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.

What does that mean in real terms?



The FED has to have The IRS.


This reason:


"Mr. GEORGE MASON. Mr. Chairman, whether the Constitution be good or bad, the present clause clearly discovers that it is a national government, and no longer a Confederation. I mean that clause which gives the first hint of the general government laying direct taxes. The assumption of this power of laying direct taxes does, of itself, entirely change the confederation of the states into one consolidated government. This power, being at discretion, unconfined, and without any kind of control, must carry every thing before it. The very idea of converting what was formerly a confederation to a consolidated government, is totally subversive of every principle which has hitherto governed us. This power is calculated to annihilate totally the state governments. Will the people of this great community submit to be individually taxed by two different and distinct powers? Will they suffer themselves to be doubly harassed? These two concurrent powers cannot exist long together; the one will destroy the other: the general government being paramount to, and in every respect more powerful than the state governments, the latter must give way to the former. Is it to be supposed that one national government will suit so extensive a country, embracing so many climates, and containing inhabitants so very different in manners, habits, and customs? It is ascertained, by history, that there never was a government over a very extensive country without destroying the liberties of the people: history also, supported by the opinions of the best writers, shows us that monarchy may suit a large territory, and despotic governments ever so extensive a country, but that popular governments can only exist in small territories. Is there a single example, on the face of the earth, to support a contrary opinion? Where is there one exception to this general rule? Was there ever an instance of a general national government extending over so extensive a country, abounding in such a variety of climates, &c., where the people retained their liberty? I solemnly declare that no man is a greater friend to a firm union of the American states than I am; but, sir, if this great end can be obtained without hazarding the rights of the people, why should we recur to such dangerous principles?"

It is a perilous time.

World War III is being purchased with money borrowed from all the producers on the planet, practically speaking, that is the meaning of these Trade Wars, where each country is working to out print each other country, so called countries, when it is the orchestrated work of the single Money Monopoly Power.

They are buying World War III.

Asia is set to "win".

And the "winners" collect what they then call debt.

It isn't funny, it is stupid.

They borrow from us. Then they say we owe them.

How stupid can stupid get?

Wannna find out?

Keep funding the best liars for lying so well.


I really think this is the

I really think this is the wrong tactic. Instead of another state issued currency, just encourage your state to allow competing currencies. This means they'd have to nullify the federal legal tender laws.

Don't propose a state created solution to a state created problem, even if you're talking about two different levels of states.

Here is the comment from my Virginia Delegate

in August 2012 in reply to my e-mail:

"You make excellent points. Hard to argue with them. We attempted to do this with a bill Bob Marshall put in last year but it was soundly defeated and I'm not sure we have the necessary support yet to make it happen. Until we can identify sufficient support for it another bill makes little sense. I do know there are many others who share your feelings on this. Hopefully there will be another run made at it soon. Thanks for your input."

My e-mail to my delegate:

"Date: 08/08/2012 12:20PM
Subject: Gold & Silver Money

Dear Delegate (Name),

I would love to see Virginia issue and accept gold and silver coins.

As you are well aware, our Federal Reserve Note currency is continually losing its buying power due to continual increases in the money supply.

I believe states should start taking advantage of their sovereignty as guaranteed by the Tenth Amendment and their constitutional mandate under Article I, Section 10 not to "make anything but gold and silver coin a tender in payment of debts," by passing laws providing alternate currencies in their states based on gold and silver. (For more information see the video at: http://www.youtube.com/watch?v=k6gMkKmQSW4.)

Since 2005 at least fourteen states have introduced bills to provide for the establishment of alternative currencies based on gold and silver. The only state to pass its alternative currency bill was Utah (HB317) in 2011. Georgia's alternative currency bill, HB3 (2011-12), also provides a good model bill.

Please help provide for an alternative currency based on gold and silver in our state by introducing or cosponsoring a bill in our state's 2013 session modeled after Utah's HB317 (http://le.utah.gov/%7E2011/bills/hbillenr/hb0317.pdf) or Georgia's HB3 (http://www1.legis.ga.gov/legis/2011_12/pdf/hb3.pdf), or some blend of the two bills.

The time has come to return to sound money, at least in the Commonwealth of Virginia. I look forward to your sponsorship of such a bill."

Magna est veritas, et prevalebit. Truth is most powerful, and will ultimately prevail.

Article 1, Section 10 (in part)

"No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything 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."

They can't issue their own currency (bills of credit). They can't coin their own money. But they can and must make gold and silver coins legal tender. I think anyone could mint the gold and silver coins as long as it is not the State. The State I think could and should specify the standard for coins by simply requiring that gold and silver coins specify of their face the weight and purity of the gold or silver in them, and indicate the name of the issuer. Other than that the market would decide on the size and shape by demand or lack thereof.

The federal government is in the slow process of its terminal stages. It will collapse just like the USSR did in the 1990's except I don't expect the federal government to go peacefully into the night as did the USSR. All governments in their terminal stage enact increasingly draconian control measures in an effort to stave off the collapse, but these measures just hasten it. Ten years from now I don't think there will be a federal government and that is good.

The States would be much better off in a loose confederation more like the Articles of Confederation. Abandoning the Articles of Confederation in favor of the Constitution was a mistake which has led to the disintegration and loss of freedom we see today.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

I don't know

I think adopting the Constitution was a way preventing states warring with one another. I don't think the problem was the Constitution, rather it was straying from it.

To paraphrase Lysander Spooner,

it either was meant to give too much power to the federal government or it failed to prevented them from taking it. In either case it did not preserve freedom.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

No offence or anything

But I think the comma is out of place in your signature where is says "and if,"
"Liberty isn't given to us; it is taken by us, and if, not we will not have it."

I could be wrong, It just looks strange to me.

Thanks. I didn't notice that mistake and it has been there

for months.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.



comments are pretty bad on that page, However I think its a great idea as long as its silver and gold.