On January 12, 2011 the state of Virginia introduced House Joint Resolution Number 557 to establish a joint subcommittee to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System.<\/p>\n
I was quite amazed when I read the proposed document this morning.\u00c2\u00a0 In my opinion it is a bold move but a smart one; one that we should all consider doing for ourselves.\u00c2\u00a0 The document sites a Supreme Court ruling in which the states have the right to protect the lives, health, and property of their citizens, and to the preservation of good order.\u00c2\u00a0 Which includes the maintenance of both an adequate system of governmental finance and a sound and robust private economy; and whereas, an adequate system of governmental finance and a sound and robust private economy cannot be maintained in the absence of a sound currency<\/a>.<\/p>\n The document goes on to say that the current economic system under the power of the Federal Reserve is in ever increasing predictable strain and that gold and silver as an alternative currency would protect its citizens against hyperinflation, depression or other economic calamities.\u00c2\u00a0 They further substantiate the right of each state to use an alternative currency through case law.<\/p>\n The study is supposed to be completed and submitted by January 1, 2011.<\/p>\n This is a huge deal.\u00c2\u00a0 The state of Virginia is looking for a way to protect itself from the eroding value of the dollar and all crises resulting from money printing by the Fed, and Virginia is not the only one.\u00c2\u00a0 The States of Georgia, Indiana, Montana, New Hampshire, and South Carolina have introduced similar bills.\u00c2\u00a0 It looks as though government officials see the possible collapse of the US Dollar and are beginning to take action.\u00c2\u00a0 If states are looking for a way to protect themselves shouldn\u00e2\u20ac\u2122t the citizens of the US do the same thing?<\/p>\n Gold and silver are a form of real money, therefore private citizens that own some have essentially bought another currency that has real value.\u00c2\u00a0 Silver and gold coins<\/a> are a great way to diversify your portfolio which adds a layer of protection for all of your other paper assets.\u00c2\u00a0 In the event of a US Dollar collapse gold and silver will provide the ultimate insurance policy.<\/p>\n