Low Pan
2nd March 2011, 11:20 AM
this is interesting, maybe it will get people thinking that Private Entities (the Fed) printing currency goes against the Constitution:
http://www.wsmv.com/news/27043569/detail.html
A state lawmaker wants Tennessee to look into the possibility of creating its own currency.
Survey: Should Tennessee consider adopting its own system of currency? | Video: Lawmaker Wants Tenn. To Have Own Currency
Supporters said it's important to be prepared in case the Federal Reserve System ever crumbles.
State Sen. Bill Ketron said he believes the federal government is implementing many things that are not sustainable, and he wants to make sure Tennessee is prepared in case the bubble pops.
That's why he wants to set up a committee to look into what it would take for Tennessee to come up with an alternate currency. He said there's concern hyperinflation could render the U.S. dollar worthless and could throw the state's budget and economy into chaos.
Since the federal government hasn't come up with a backup plan, Ketron thinks the state should exercise its 10th Amendment right to do so.
"I'm not here saying I'm Chicken Little and the sky is falling, but at the same time, we must be prepared at how we are going to survive," Ketron said.
This is not an idea exclusive to Tennessee: Virginia and South Carolina have already set up committees to look into setting up their own currencies.
http://www.wsmv.com/news/27043569/detail.html
A state lawmaker wants Tennessee to look into the possibility of creating its own currency.
Survey: Should Tennessee consider adopting its own system of currency? | Video: Lawmaker Wants Tenn. To Have Own Currency
Supporters said it's important to be prepared in case the Federal Reserve System ever crumbles.
State Sen. Bill Ketron said he believes the federal government is implementing many things that are not sustainable, and he wants to make sure Tennessee is prepared in case the bubble pops.
That's why he wants to set up a committee to look into what it would take for Tennessee to come up with an alternate currency. He said there's concern hyperinflation could render the U.S. dollar worthless and could throw the state's budget and economy into chaos.
Since the federal government hasn't come up with a backup plan, Ketron thinks the state should exercise its 10th Amendment right to do so.
"I'm not here saying I'm Chicken Little and the sky is falling, but at the same time, we must be prepared at how we are going to survive," Ketron said.
This is not an idea exclusive to Tennessee: Virginia and South Carolina have already set up committees to look into setting up their own currencies.