WND Exclusive REBELLION IN AMERICA
The buck stops here? Virginia eyes switching off dollar Cites ‘inevitable destruction of the Federal Reserve System’s currency’
Posted: February 01, 2011 8:42 pm Eastern
Kelly O’Meara © 2011 WorldNetDaily
Virginia Delegate Robert G. Marshall
WASHINGTON – Virginia state Delegate Robert G. Marshall has introduced legislation to study whether the Commonwealth should make the preparations now to switch suddenly to an alternative currency in the event of an implosion of the Federal Reserve System and the destruction of the dollar.
House Joint Resolution 557 is another piece of a growing movement among state legislators who are concerned about the dollar’s demise. Ten states have considered similar bills, recommending a return to some form of a commodity-based currency, using either silver or gold.
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Marshall’s Resolution 557 offers a list of worst-case scenarios to support the need for such a study, including:
* “Many widely recognized experts predict the inevitable destruction of the Federal Reserve System’s currency through hyperinflation in the foreseeable future.
* “In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System, for which the Commonwealth is not prepared, the Commonwealth’s governmental finances and Virginia’s private economy will be thrown into chaos…”
* To avoid economic, social and political shocks Virginia can adopt an “alternative sound currency that the Commonwealth’s government and citizens may employ without delay inthe event of the destruction of the Federal Reserve System’s currency.”
“Inevitable destruction,” “economic calamity” and “chaos” are not words used lightly when considering the fate of the nation’s currency.
Marshall chose them for good reason and tells WND, “I read the financial pages and I see the coverup that the Obama administration is engaging in, eliminating the cost of food and energy from CPI to fool the public (about the rate of inflation), and the fact that China is seeking to become an international currency and Russia, Japan, Saudi Arabia and China have all met to discuss this possibility.”