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South Carolina Mulls New Currency To Protect Against Fed Collapse

Posted By admin On February 15, 2011 @ 5:36 am In Money Watch | Comments Disabled

Stephen Largen
Go Upstate.com [1]
Feb 15, 2011

Continuing a pattern of attempts to assert South Carolina’s independence from the federal government, State Sen. Lee Bright, R-Roebuck, has introduced legislation that backs the creation of a new state currency that could protect the financial stability of the Palmetto State in the event of a breakdown of the Federal Reserve System.

Bright’s joint resolution calls for the creation of an eight-member joint subcommittee to study the proposal and submit a report to the General Assembly by Nov. 1.

The Federal Reserve System has come under ever-increasing strain during the last several years and will be exposed to ever-increasing and predictably debilitating strain in the years to come, according to the legislation.

“If there is an attempt to monetize the Fed we ought to at least have a study on record that could protect South Carolinians,” Bright said in an interview Friday.

“If folks lose faith in the dollar, we need to have some kind of backup.”

Full article here [1]

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URLs in this post:

[1] Go Upstate.com: http://www.goupstate.com/article/20110212/ARTICLES/102121020/1001/sports02?Title=Sen-Lee-Bright-SC-should-coin-own-money

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILC35/PR

[4] Reactionary Gun Laws Being Proposed in South Carolina After The Tucson, Arizona Shooting: http://www.prisonplanet.com/reactionary-gun-laws-being-proposed-in-south-carolina-after-the-tucson-arizona-shooting.html

[5] South Carolina challenges upcoming federal ban on incandescent light bulbs: http://www.prisonplanet.com/south-carolina-challenges-upcoming-federal-ban-on-incandescent-light-bulbs.html

[6] Victory! South Carolina upholds freedom of residents to buy, sell raw milk: http://www.prisonplanet.com/victory-south-carolina-upholds-freedom-of-residents-to-buy-sell-raw-milk.html

[7] South Carolina ObamaCare Nullification Bill Being Held Up in Committee: http://www.prisonplanet.com/155365.html

[8] South Carolina Lawmakers Propose 5-Year Jail Sentence for ‘Obamacare’ Implementation: http://www.prisonplanet.com/south-carolina-lawmakers-propose-5-year-jail-sentence-for-obamacare-implementation.html

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