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?”


Comments

2 Responses to “S.C. Wants Own Currency to Combat Federal ‘Economic Calamity’”

  1. Jake Mabus on February 18th, 2011 11:18 am

    This article is ridiculous, mainly because of the attempt and innuendos towards racism. People like you who think that the “Civil War” or “War between the States” was fought because of slavery need to stop listening to your state funded brush over of history and do a little research for yourself before you decide to make a ridiculous erroneous comparison.
    The Civil War was fought because of economic sanctions placed on the southern states. Even after the Emancipation Proclamation by Lincoln many of the soldiers of the North were quite surprised by the Federal Governments announcement of why they are fighting and actually fled the military or avoided conscription by fleeing to Canada or into the mountains out of reach of the Government officials. Many of the quotes of the men at that time indicated that they were not fighting for a people they did not know. They were fighting to “save the union.”
    The North was arguably more racist than the south. Many of the slaves that were freed or escaped were treated horribly by the North or even returned to Slavery either to their old owners or put into slavery by the Union Armies. Another aspect of slavery is that when slavery became commonplace in the colonies/states, it was not based on race! It was based on economic status.
    Lincoln even stated in response to Douglas; “I have no purpose to introduce political and social equality between the white and black races.” Lincoln’s idea for the Slaves was to emancipate then ship off to Haiti or Madagascar (the same idea as Lincoln’s hero, Henry Clay). His proclamation of emancipation was so ineffective and gerrymandered from county to county that is was more of a political maneuver. The other countries of the world thought that it was a joke. Lincoln even said something like; if I could free no slaves to save the union, I would do it. If I could save some and not others to save the union, I would do that. If I could save all to save the union I would do that.
    The idea to study the effects of a sound currency is in no way a racial step backwards! It is an economic precaution to a quasi government agency, known as the Federal Reserve. If you can recover from your aneurism and read a little bit of history you may discover that this type of economic system of monetary policies is one of the reasons why we fought a revolution to become the United States.
    So please wake up from your state funded coma and join the people who actually educate themselves on the history and reasons why people do what they do. In regards to Beck, don’t hate on a man who is educating himself. These are truths of history. It’s taken him a while to catch up to understanding but I still don’t care for his presentation style or his neo conservative views of and interventionist’s foreign policy.
    I’ll give you a start, start studying Keynesian economics vs. Austrian economics, and please don’t respond after reading Wikipedia because I’ll know how little you read.

  2. Jake Mabus on February 18th, 2011 11:33 am

    You must not understand what brought on the hyperinflation of Germany before WWII or the more recent Yugoslavia’s experience of the early 1990’s…

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