Virginia Eyes Monetary Reform
The New York Sun published an editorial this week looking at proposed legislation in Virginia that would examine the viability of a metal-backed monetary standard. If the federal government doesn’t understand the importance of real money, maybe the states will take up the banner.
“It’s starting to look like Virginia could yet emerge in a leading role among the states in respect of monetary reform. The lower chamber of its general assembly has passed a bill to underwrite a study of the feasibility of a monetary unit based on a metallic standard. It is one of a number of states that are reaching deep into the Constitution of the United States to protect themselves in an era when the value of the dollars issued by the federal government is collapsing.”
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