States Looking into Alternate Monies in Case of Fed Breakdown

Virginia Creates Subcommittee To Study Monetary Alternatives In Case Of Terminal Fed "Breakdown", Considers Gold As Option

"In what may one day be heralded as the formal proposal that proverbially started it all, the Commonwealth of Virginia introduced House Resolution No. 557 to establish a joint subcommittee to "to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major  breakdown of the Federal Reserve System."

 Source:  http://www.zerohedge.com/article/virginia-creates-subcommittee-study-monetary-alternatives-case-terminal-fed-breakdown-consid?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

Legislation proposes Utah adopt a gold-based system

 "Imagine paying your next parking ticket in gold Krugerrands or renewing your driver license using American Gold Eagles.

A proposal in the Utah Legislature would require the state to allow just that, requiring government agencies to accept gold for transactions, and creating a parallel monetary policy for intrastate commerce tied to the price of gold.

Under the legislation that has been drafted, Utah residents could mint their own gold or silver coins, a storehouse would be created to stockpile the precious metal and the Utah Defense Force, an arcane state militia that may be called and armed by the governor, would be responsible for securing the inventories."

Source:  http://www.sltrib.com/sltrib/home/50949183-76/gold-state-utah-coins.html.csp

 ***UPDATE***

U.S. States Proposing Gold-backed Currencies

 Utah, Georgia, Virginia, Montana, South Carolina, Colorado, Idaho, Washington, are all looking to use gold and silver as their legal currency.

Source:  http://www.financialsense.com/node/3774?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+fso+%28Financial+Sense%29&utm_content=FaceBook&utm_term=FSO





...and in related news:

The Fed’s QE2 Traders, Buying Bonds by the Billions

“To critics, it is a Hail Mary play — an admission that the economy’s persistent weakness has all but exhausted the central bank’s powers and tested the limits of its policy making. Around the world, some warn the unusual strategy will weaken the dollar and lead to crippling inflation.”

Source: http://www.cnbc.com/id/41019109


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Even the States can smell it...