Via TPM we learn that a legislator in the Palmetto State seeks to create a new South Carolina currency, just in case the US dollar blows up.
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It seems that, as the proposed legislation puts it, “many widely recognized experts predict the inevitable destruction of the Federal Reserve System’s currency through hyperinflation in the foreseeable future.”
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Those would be the experts who read this chart, no doubt.*
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Facing this inevitable disaster, isn’t it just simple prudence to plan ahead? State Senator Lee Bright** (R.-Klanbucks) thinks so. His bill seeks to set up a joint committee of the state legislature to study the issue and make recommendations by November, 2011. The bill strongly suggests the kind of monetary system that South Carolina should consider:
Whereas, the Federal Reserve System’s currency not being redeemable in gold or silver coin or the equivalent in bullion is being identified by more and more experts as a major reason for the ever-increasing instability of the Federal Reserve System…
Ahh! A gold bug.
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Of course, that worked out so well last time.***
Please, Please, Please, Oh Please Let This HappenPost + Comments (96)