Lawmakers in Virginia say they want to keep their options open in case the value of the U.S. dollar ever collapses — so they're considering minting state coinage.

The Washington Post reported Tuesday that a proposal to study the effectiveness of such a plan "sailed through" the state's lower house this week:



http://dailycaller.com/2013/02/06/virginia-moves-close-to-creating-states-own-currency/#ixzz2KD3CencY

I tend to believe that there is a growing possibility that something catastrophic could happen to our countries financial systems.   There are just too many things that are balanced on a razors edge and I think that it would only take a single event to get the ball rolling.  I think in short order concern would turn to panic and quickly pass the point of no return.   As we currently stand now I think order is mostly being maintained with smoke and mirrors and a huge dose of MSM lies or incompetence. 

Quote from: raptor5618 on February 07, 2013, 05:44:01 AM
As we currently stand now I think order is mostly being maintained with smoke and mirrors and a huge dose of MSM lies or incompetence.

Well said!

Quote from: raptor5618 on February 07, 2013, 05:44:01 AM
I tend to believe that there is a growing possibility that something catastrophic could happen to our countries financial systems.   There are just too many things that are balanced on a razors edge and I think that it would only take a single event to get the ball rolling.  I think in short order concern would turn to panic and quickly pass the point of no return.   As we currently stand now I think order is mostly being maintained with smoke and mirrors and a huge dose of MSM lies or incompetence.

I absolutely agree!
We have seen the slow creep of socialism and business merge in the form of corporate welfare to the point if the dollar hick ups, we feel it across the board.
The last vesture of free mkt is our energy sector, and I say vesture because it too is being heavily manipulated now more than ever.
But I digress, big business is so heavily manipulated through handouts or rather bribes, they no longer worry about competition, but power in their own right. If we do lose the standing in the world as the number one currency, our infrastructure will look like Greece.
The dairy industry alone is Govt run, it depends on mkt manipulation and subsidy to maintain output, but if all Hell breaks loose industries just like them will suffer horribly.

We definitely need to start divestiture of all industry by Govt, Virginia seems to see the obvious as well.
I know I rambled a bit, but the problem is so vast, it's hard to even start to dissect it without writing a book.

I'll be the first to admit, I knew it was a problem, but didn't realize just how big a problem till Husein started pushing his agenda and saw just how much control of the free mkt we had actually lost as a society.

I think that solar filled in some of the blanks of what I was saying.  Every segment of or economy is moving forward in a distorted dance that is not based on any free market principles.  Large corporations now employee former congressmen as either employees or lobbyists in an ever increasing numbers so that they do not get crushed by the government.  One statistic I heard was that the number has gone from 13 percent up to almost 60 percent in the last 20 or so years. 

We use quantitative easing to insure that our bonds sell in the numbers we need without requiring an increase in the interest rate to attract sufficient buyers.  The way they calculate inflation has been doctored to make sure that it reflects a relatively low rate no mater what the reality is that we face.   Walk in a gorcery store and tell me that you see no signs of inflation.  In one store yesterday I saw a price of 4.59 for those pieces of scrap beef that they sell for soup or stew.  A year or two ago it could be found for 2.99.   Of course part of that we can think to the car engine destroying ethanol requirement that takes our food and food stock and uses it to make fuel. 

The scenario I see as most likely is that we keep printing money and doing very little about our deficit and all the rating agencies begin to drop our rating.  With that our money loses value and the interest rate for our govt bond takes off.  A pretty nasty loop that for a time they may be able to contain but at some point it all implodes or explodes what ever metaphor you like.   They respond by more quantitative easing and I think you get the point.  At some point the world is going to tire of our act where we say we have more money when we take out of one pocket and put it into another pocket.

One of the consequences is oil prices and as is currently a hot topic gas prices have gone up $.18 in the last two weeks.  It is going to be even more exciting when the weather gets better.  Money that goes to fill up the car do not go buying consumer goods.  That dampens our spending that causes more layoffs that raises the amount of money handed out by the government while at the same time reducing the amount it takes in.   

I cannot think of a likely outcome for the future that indicates that things will turn around.  Sure the last GDP report was reported almost as if Happy Time Are Here Again but in my view it was pretty much fantasy land and I think really indicates that there is no free path out of this mess.   

No one is really giving an honest description of the mess we are in and my theory always has been that when things get really bad and seem hopeless you really need to have a plan and start working on that 1st step and if you are able to take a few more then it does not look so hopeless.   Neither side, Dem or GOP, really has a plan and neither is ready to take a good first step towards solving our problem.   Sticking your head in the sand to me does not sound like a very good way to solve our mess.

As a technical resident of the state and landowner, I can only hope there is silver in that coinage.


Billy