S.C. Wants Own Currency to Combat Federal ‘Economic Calamity’
February 13, 2011
(ChattahBox Political News)—Oh say, let’s take a look at the latest developments in the “War between the States.” What, you say, the Civil War ended in 1865? Well, South Carolina didn’t get the memo. The Confederacy and Nullification live on, and of course an inbred loathing for all things Yankee. With the election of our first black President two-years ago, we have witnessed an upsurge in states’ rights “tenther” rhetoric and good old fashioned nullification legislation and secession talk. Now, South Carolina has taken radical tentherism one step further by proposing its own currency. Why? Apparently, state lawmakers have been listening to crazed Fox news’ conspiracy theorist Glenn Beck. An apocalyptic state currency bill currently making its way through the legislature, warns of “chaos,”economic calamity” and “the inevitable destruction” of the Federal Reserve system, requiring the creation of a “sound currency” to protect the good people of South Carolina. Welcome to the new Confederacy. Next, they will be advocating for a return to slavery.
State Sen. Lee Bright (R), an enthusiastic “tenther,” introduced the legislation, as a joint resolution to study the need for the Palmetto state to establish its own currency.
“The Federal Reserve System has come under ever-increasing strain during the last several years and will be exposed to ever-increasing and predictably debilitating strain in the years to come, reads the intro of the bill introduced on February 3, 2011.
GoUpstate.Com has the scoop:
“If there is an attempt to monetize the Fed we ought to at least have a study on record that could protect South Carolinians,” Bright said in an interview Friday.
“If folks lose faith in the dollar, we need to have some kind of backup.”
The legislation cites the rights reserved to states in the Constitution and Supreme Court rulings in making the case that South Carolina is within its rights to create its own currency.
“The Supreme Court of the United States has ruled that the states may adopt whatever currency they desire for the purposes of performing their sovereign governmental functions, even to the extent of adopting gold and silver coin for those purposes while refusing to employ a currency not redeemable in gold or silver coin that Congress has designated ‘legal tender.’…” Bright’s legislation states.
So, South Carolinians will soon be moseying on over to the local Walmart to purchase their pork rinds with gold and silver?
Bright’s Glenn Beckian legislation goes on to further stoke fear about hyperinflation and perhaps rioting in the streets:
“Whereas, many widely recognized experts predict the inevitable destruction of the Federal Reserve System’s currency through hyperinflation in the foreseeable future; and
Whereas, in the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System, for which the State is not prepared, the state’s governmental finances and private economy will be thrown into chaos, with gravely detrimental effects upon the lives, health, and property of South Carolina’s citizens, and with consequences fatal to the preservation of good order throughout the State; and…”
Phil Bailey, the director of the state Senate Democratic Caucus had a priceless response to Bright’s state currency bill.
Bailey said, “It’s a waste of time; it’s a waste of resources. I mean who’s paying for this study? Will they be paid in actual dollars or gold doubloons?”