Virginia alternative currency plan moves forward
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Virginia alternative currency plan moves forward

Virginia alternative currency plan moves forward

By Bill Sizemore

The Virginian-Pilot

RICHMOND

 

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

Seal of Prince William County, Virginia

Seal of Prince William County, Virginia (Photo credit: Wikipedia)

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.

via Virginia alternative currency plan moves forward | HamptonRoads.com | PilotOnline.com.

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