Some Virginia Legislators Worry about Hyperinflation!

A good article from Robert Jackson Smith:

Some legislators in the Commonwealth of Virginia are worried about hyperinflation!  See House Joint Resolution No. 557.  Should the Commonwealth adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System?  Could an alternative currency avoid or mitigate many of the economic, social, and political shocks to be expected to arise from hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System?  These are the questions some Virginia legislators are asking.  They’re even proposing to appoint 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!

In my opinion yes, an alternative currency would help to avoid and/or mitigate many of the economic, social, and political shocks arising from a breakdown of the Federal Reserve System.  The thing is, however, that an alternative currency already exists.  It’s called gold/silver, and it’s available in several forms.  Gold and silver have been used as money for thousands of years.  They have proven themselves to be reliable as media of exchange, stores of value, and units of measure for as long as man has recorded history.

Read the whole article.

1 Comment

  • Gold and Silver only served as an easily recognisable, trustworthy and inflation proof unit of currency worldwide for 6,000 years. Why should we trust that instead of a Fiat paper money system devised by some of the smartest people in the world who benefit from being able to print it at will?

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