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#1 The headline is over-the-top. The US has been there & has done that before. Countless local governments issued their own paper money when all US banks closed early in 1933. This "scrip" circulated off & on for years even after the banks re-opened.
The Feds demonetized gold, seized private stocks of gold without due compensation, and invalidated previous legal contracts that were supposed to have been settled in gold, and these measures were approved by the US Supreme Court.
The impression that the federal government is not really functioning, despite appearances to the contrary, seems to be spreading.
Posted by Anguper Hupomosing9418 2012-02-27 03:41||
#2 The federal government is functioning, only in the same way the a cancer is following the warped DNA program of the cells...
Posted by Bright Pebbles 2012-02-27 04:41||
#3 Since states can only constitutionally issue currency backed by gold, the proper alternative is to create a state licensed, regulated, insured and audited scrip corporation.
To a great extent, it would be a business cooperative, tasked to do several things.
1) To concentrate dollars from the purchase of scrip, to bulk buy products, commodities and services not manufactured or available in the state. (Think pharmaceuticals). These will then be resold to members, for retail by scrip or dollars.
2) As the clearinghouse for scrip transactions and sales taxes. The value of scrip and prices of things bought with scrip would be set on a monthly basis, and remain fixed no matter what happened to the value of the dollar. Within a normal range, the two would be close to parity, but with inflation or deflation of the dollar, either the dollar or scrip would become the preferred currency.
3) The corporation would warehouse surplus commodities and products of members, which would be available to the state as relief supplies for the poor, as well as sold out of state for dollars.
Retailers and individuals would have a card with an encrypted data matrix bar code on it. When the clearinghouse was called by an ordinary cellphone with a camera, then the cardholder would scan the bar code and the clearinghouse would respond by sending a picture of its owner.
This would identify them as the seller. Then they would scan the data matrix bar code of the buyer, and their picture would be displayed to confirm that they were the owner of that bar code.
Then the seller would scan the regular bar code of the item or items being sold, like a grocery store scanner, and see a readout of the price of the items and the projected total, which would be in black text if the buyer had sufficient funds in their account, but turn to red if they didn't have enough to pay for it.
Then they buyer would have to confirm the total, then enter a PIN number to verify it. Not particularly more difficult than a current debit card transaction, except that no national credit card company would be involved.
Posted by Anonymoose 2012-02-27 10:07||
#4 Where exactly would Wyoming keep an aircraft carrier?
Posted by Betty Henbane1667 2012-02-27 11:24||
#5 The Yellowstone caldera. After it cools a little.
Posted by Steve White 2012-02-27 13:06||
#6 Where exactly would Wyoming keep an aircraft carrier?
After the Yellowstone volcano blows, the state will have a coastline. We're not yet sure which ocean it will connect to, though.
Posted by Anguper Hupomosing9418 2012-02-27 16:03||
Posted by trailing wife 2012-02-27 16:21||
#8 "An aircraft carrier in every pot!"
Posted by RandomJD 2012-02-27 18:55||
#9 You guys don't see it. It'll be in the Pacific. We'll just invade Washington and take it over, expel any liberals and it'll be Wyomings first Colony. We might let Montana help. Maybe.
Posted by Silentbrick - Halliburton Lost Drill Bit Division 2012-02-27 22:09||
#10 In that case Silentbrick - will you hurry the hell up! Its getting to be like California lite around here....
Posted by CrazyFool 2012-02-27 22:10||
#11 We're a bit busy, drilling for oil and gas up here at the moment. Hmmmm, betcha we could hire Tennessee to take it for us. I mean, they do like to fight. I would say Texas but they're having issues at the moment.
Posted by Silentbrick - Halliburton Lost Drill Bit Division 2012-02-27 22:36||