Virginia alternative currency plan moves forward

RICHMOND

Del. Bob Marshall did a little strategic name-dropping Thursday, and it had the desired effect.

For two years, the Prince William County Republican has been seeking a study of whether Virginia should adopt an alternative currency to replace the dollar in case the Federal Reserve System has a major meltdown.

His quest always ended in failure – until this year.

Presenting the latest version of his proposal (HJ590) to a subcommittee of the House Rules Committee, Marshall said his worry about a breakdown of the federal monetary system is no idle fear. There have been cyber attacks on banks, he said, and the Pentagon is preparing for economic warfare.

“My purpose is to have a Plan B,” he said, so Virginians would still be able to conduct commerce without using greenbacks.

Then he pulled out his trump card.

This year, he said, he has the support of Judy Shelton, an economist who happens to be a friend and neighbor of House Speaker William Howell, R-Stafford County, who chairs the Rules Committee. And the speaker himself has gotten behind the measure, Marshall added.

Then, with almost no discussion, the panel approved the bill on a 4-0 vote, advancing it to the full committee.

The cost of the study is capped at $22,560 – in greenbacks…

IT ONLY MAKES SENSE!

SOURCE

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