Virginia Talking About Its Own Money!

[SEVERUSMAX]

http://www.foxnews.com/politics/201...ne-step-closer-to-returning-to-gold-standard/

Granted, this is actually unconstitutional, but then so is half or more of what the Feds do. More importantly, it's another battle in the conflict between the central government and the States (yes, I capitalized the latter for a reason).

It's also a part of the revolt against the Federal Reserve System, which needs to be abolished, as part of any plan to restore national solvency.

 

[sr71plt]

I see it's from Fox News. That's reason enough not to even click on it to see how this relates to erotica.

 

[SEVERUSMAX]

That's funny. I don't recall ABC, CNN, NBC, CBS, etc. being real news agencies, so it doesn't bother me.

 

[Stella_Omega]

It's not illegal to coin private money. Cities all over the country have done it, as tourist bait or out of noble ambitions. Every coupon printed in the newspaper is tender.

What's illegal is to counterfeit federal monies, or-- I think-- to link the value of your money to the feds, I don't remember that part it was a while back.

But this isn't going to go anywhere. Popular suport is eroding. Republican politicians are having just the damndest time lately, every time they step out of the kool-ade stand into the harsh light of reality-- and reality is happening on facebook, not on Fox or even CNN.

It's hard being racist, misogynistic, and old. Nobody understands your manpain. Poor dears.

 

[SEVERUSMAX]

The key is that states cannot make anything money but gold and silver coin. That the Framers didn't impose such a ban on the Federal Government is because the Feds were already limited to Article 1, Section 8 powers. They didn't think it necessary.

Gods know what they would think today.

Not sure what's racist about favoring self-rule. Or misogynistic.

Anyway, to clarify what I said before. It's only unconstitutional if Virginia uses a paper currency in lieu of gold and silver. That's the specific ban. Remember, the States can lawfully do anything they're not forbidden to do. The Feds can only do what they're expressly permitted.

 

[JAMESBJOHNSON]

Anyone can make money. During the Great Depression plenty made it, to pay public employees, and for people to pay taxes.

I recently read Woodwards book about the Democrat-GOP budget struggles, and what impressed me is how anxious Democrats are about the spending and borrowing. Away from a tv camera Pelosi, Reid, and Biden come across as smart, decent, sane people! I was stunned. The problem is: Obama, and the right-left wingnuts. The interesting thing is: Obama's a fiscal conservative! but so fucking afraid of his leftie maddogs theres no method to his madness. He screws every deal Biden and Boehner and Reid and Pelosi cobble together. The GOP whackos, of course, wanna spare all the hedge fund bazillionaires paying any taxes; the Demo-Whacks wanna feed the world.

 

[SEVERUSMAX]

Jimmy boy, what are you smoking? Don't inhale.

 

[Ironiclaconic]

It's silly, but not Unconstitutional, as the Constitution specifically says states can mint gold and silver coins. If Virginians want to waste money and effort by supporting an alternate currency system, that is their prerogative. Local businesses might accept it along with federal currency at an exchange rate to humor some of their wackier customers, but those same businesses can also accept grain, chickens, and cattle as barter commodities if they choose.

The whole purpose of paper currency is to allow people to exchange the value of the goods and services they produce in a standardized way, without being vulnerable to commodity price fluctuations or inducing people to horde a useful metal for unnecessary reasons. Virginia can neglect that, and they can also go back to measuring distances in hands and furlongs if they want.

 

[oggbashan]

Several towns in the UK have printed their own money for use in local establishments such as public houses and locally owned shops.

Lewes, Sussex, pound featuring Thomas Paine:

http://2.bp.blogspot.com/-AgvXFxqiFxY/UHF0_S49s4I/AAAAAAAADb4/hcgItn7hN9c/s1600/Lewes-pound-PA-6940517-jpg_175553.jpg

The initiative usually dies out after a few years, but the notes are interesting souvenirs.

In France during and shortly after World War 1, official coins were in short supply, so local Chambers of Commerce produced their own low value notes to give change. In the early 1920s the combined Chambers of Commerce of France produced their own low-value coins, the same shape and size as French francs and centimes which circulated for decades alongside the official French Government coins.

http://upload.wikimedia.org/wikipedia/commons/thumb/a/a7/2_francsAR.jpg/200px-2_francsAR.jpg


In the United Kingdom at the end of the 18th and early 19th Century metal tokens were produced by a wide variety of issuers because real pennies and halfpennies were not available in sufficient quantities. Some of these tokens were circulated widely and redeemable almost anywhere. Many were restricted to a town or two and were a nuisance. Some weren't backed by real money and were worthless. But all were and are collected.

This one from Coventry is sought after because of Lady Godiva:

http://ts1.mm.bing.net/th?id=H.5013241315984412&pid=15.1

Or just because it shows her tits.

 

[SEVERUSMAX]

That could work, too.

Two things that we can count on with you, Ogg.

I. A useful lesson in British history.
II. A hedonistic angle to the story.

 

[3113]

Geeze Sev, how very...17th century of you. I guess you like these idiots don't know that paper money is on the way out. If they go through with this all they'll be left with is pretty toilet paper because nearly everyone is using credit cards now and within five-to-ten years nearly everyone is going to be making transactions with their smartphones. Even coupons and giftcards will be on electronic devices, saving us, one hopes, from that little old lady in the grocery store line with her pile of clipped coupons

You really need to watch news that comes from the 21st century.

 

[Stella_Omega]

http://hhisanddollars.org/index.php

 

[SEVERUSMAX]

Typical. Nothing against plastic. Just saying that the Federal Reserve Note needs to go and the Constitutional balance needs to be restored.

As for the phony news channels, etc. (Al-Jazeera/Current, NBC, etc. they are so 20th century themselves. Stuck in the Golden Age of Big Government. No dice.)

The country is coming full circle. About damned time.

 

[Stella_Omega]

http://berkshares.org/
http://ithacahours.org/
http://en.wikipedia.org/wiki/Local_currency

Now, I realise that Sev's interest is his well-intentioned political idealism, but local currencies are very interesting. And there is no reason not to make it in paper. Money is a token of exchange.

I've designed art for private money a couple of times. One set features bees, but we never came up with a name for it..**** projects though!

 

[Ironiclaconic]

Yes, we are getting close to the point where the only useful purpose for cash will be illegal transactions, but libertarians will still want all the electronic currency backed on value basis with shiny yellow metal uselessly stored in a vault in a fortress guarded by the army.

 

[SEVERUSMAX]

The alternative is letting central banks and inflation control our destiny. Seeing the cost of living rise to astronomical levels every year. And more boom-and-bust cycles, not fewer.

Keynes....so yesterday and overrated.

 

[oggbashan]

I used to belong to a local alternative currency scheme in which you built up credits by suppling goods and services and spent them on other people's activities.

I took them in my secondhand bookstore, initially in full but later only for half a purchase because I couldn't spend the credits.

The problems:

Everyone wanted plumbers, electricians, handymen.

The major services provided were Indian head massage or language lessons by incompetent unqualified teachers.

When the scheme finally closed I was the person with the largest unspent credit. I hadn't lost real money because I had moved stock that otherwise might not have sold.

What worked well was a spin-off - a large baby sitting circle of parents who would sit for children in exchange for someone else to sit their children. Everyone had to spend their credits down to zero or bring their account above zero once every year. It was great for major crises such as a parent in hospital, or for celebrations involving friends all of whom needed babysitting for the same evening.

But the children grew up and the circle wasn't renewed with younger parents.

 

[Ironiclaconic]

I think it is easy to criticize the Fed, and I do it myself sometimes, but it helps to know why it was created. The Panic of 1907 was only averted by JP Morgan locking everyone into a room until they came up with a solution for solvency, and he also served as the lender of last resort, which barely worked and Morgan used the situation to make US Steel a more powerful monopoly.

Few people saw this as a good model going forward and it would be impossible today. Anyone advocating elimination of the Fed should be able to demonstrate how we will avoid reliving the cycle of panics and Depressions every decade that plagued the Gilded Age.

 

[SEVERUSMAX]

I think it is easy to criticize the Fed, and I do it myself sometimes, but it helps to know why it was created. The Panic of 1907 was only averted by JP Morgan locking everyone into a room until they came up with a solution for solvency, and he also served as the lender of last resort, which barely worked and Morgan used the situation to make US Steel a more powerful monopoly.

Few people saw this as a good model going forward and it would be impossible today. Anyone advocating elimination of the Fed should be able to demonstrate how we will avoid reliving the cycle of panics and Depressions every decade that plagued the Gilded Age.

Um....the Great Depression happened after the creation of the Fed. So, evidently, it didn't work. And there's more to the story than the official one, anyway.

Handing an international cabal of high financiers the keys to the Treasury made us their vassals, no longer truly sovereign.

 

[Ironiclaconic]

The alternative is letting central banks and inflation control our destiny. Seeing the cost of living rise to astronomical levels every year. And more boom-and-bust cycles, not fewer.

Keynes....so yesterday and overrated.

Except we have seen fewer boom/bust cycles, not more. An inflation rate in the 2-3% range has a lot of advantages.

Keynes has weathered the last financial crisis extremely well, much better than Friedman (who would have believed that quantitative easing would have immediately ended the slump) and particularly Hayek, as the Austrian school keeps predicting a hyperinflation that keeps seem to not happen.

 

[Ironiclaconic]

Um....the Great Depression happened after the creation of the Fed. So, evidently, it didn't work. And there's more to the story than the official one, anyway.

Handing an international cabal of high financiers the keys to the Treasury made us their vassals, no longer truly sovereign.

Yep, the Fed screwed up, by listening to what the financiers were telling them. Since WWII they have been much smarter.

 

[SEVERUSMAX]

Okay, I get it. Keep believing the official story. To each their own.

Can't win 'em all.

Btw, the Fed ARE the financiers. They are part of the same inner circle.

 

[Ironiclaconic]

And because this is an erotica board...

Cocks.

Thank you for your time.

 

[Ironiclaconic]

Okay, I get it. Keep believing the official story. To each their own.

Can't win 'em all.

Btw, the Fed ARE the financiers. They are part of the same inner circle.

Ooh secret knowledge. Let me get my tinfoil hat.

My point on financiers is that the Feds screw ups in the Depression were in following the economic orthodoxy of Wall Street and ignoring Keynes. The economies that abandoned the gold standard first and allowed their currencies to float, recovered first.

 

[SEVERUSMAX]

Believe what you wish. I know better.