Virginia delegate wants them to have their own currency! That's odd.

@JenInTN (27565)
United States
June 24, 2011 4:50am CST
I was watching the news a couple of months ago and apparently a Virginia politician wants to propose that Virginia be able to separate itself and introduce it's own currency. Apparently this is to challenge and create competition for the US Federal Reserve's growing inflation problem. OK...maybe I am alone here....but I don't understand..LOL...I am hoping that some wonderful myLot members can enlighten me here. How can a different currency help that state? They did say they were wanting to eventually include the surrounding states..but in the article I am including..it doesn't say anything about that. Would that make them a country all their own? How in the world would that work? Would people have to exchange their currency there? When they left the state? Weird. voices.washingtonpost.com/virginiapolitics/2011/01/delegate_proposes_virginia_min.html
2 people like this
18 responses
@xfahctor (14111)
• Lancaster, New Hampshire
25 Jun 11
Ah yes, HB 2236. There has been a LOT of misunderstanding surrounding this bill. I should first start by saying the bill did pass and was signed in to law by the governor in March. And so far, Virginia is still a state of the U.S. and has not seceded. Second, there is nothing in the bill about separating Virginia or it's currency from the United States. Third and most important, the bill was written to authorize the production of commemorative coins, made of gold and silver, that depict images of the Virginia Commonwealth Seal. Here is the actual bill text: http://www.mygov365.com/legislation/view/id/4d301c2249e51b7046221600/tab/versions/
3 people like this
@JenInTN (27565)
• United States
26 Jun 11
Wow...thanks for clearing that up. If it sounds a little odd...the media will burn it uo and by the time it's over with..it's from the planet Mars..lol. I was wondering how it would all work. I really did not figure it would pass. It was pretty radical. Thanks for the response.
@Orson_Kart (4021)
• United Kingdom
25 Jun 11
Hi Jen! It's pretty much like the argument as to why we in Britain haven't joined the 'euro' and retained (for the time being) an independent currency.... but in reverse. If you have your own currency, you can then have an exchange rate with other currencies, including the dollar, and therefore have more control over the stabilization of your own economy. You can set your own interest rates and be able to stimulate your own economy autonomously. However, if you live by the sword, you may also die by it. Globally we have been moving towards a single currency, hence the creation of the euro. Whether it will be that, or the US dollar, or possibly the Chinese yuan, who knows? So next time you see Who, will you ask him and let me know. :P
2 people like this
@JenInTN (27565)
• United States
26 Jun 11
I will ask and let you know.
1 person likes this
• United Kingdom
27 Jun 11
You mean you know who? ;)
@JenInTN (27565)
• United States
29 Jun 11
Who?
• United States
24 Jun 11
This whole thing just confuses me lol. I don't understand why a politician would think it would "challenge and create competition for the US federal reserve's growing inflation problem" I think US should just stick together and not have states separate themselves from others in the sense of currency. Well, see what happens January 12th.
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@JenInTN (27565)
• United States
24 Jun 11
I know! I am confused too! I am thinking it would make them another country altogether wouldn't it? I'm not sure the guy is going to get the support he wants. I am thinking it might exempt them from government support if they did that too. The government allots each state a certain amount of federal support each year. That feeds their poor and builds their roads..etc...if they didn't have that support..I'm thinking that separation might not be such a good idea for the state..I might be wrong though...maybe there is something about this I am missing.
• United States
24 Jun 11
Judging by the comment on the link you posted, I think no one will support it, I read at least 10 people say, it's a stupid idea and he's a stupid politician. One person said, "I'm curious, who did Marshall beat in the election and what was so bad about that person that Captain Cookoo Bananas was elected instead?" lol.
@mac1946 (1602)
• Calgary, Alberta
24 Jun 11
Hi Jen. it would work fine,so long as they have the gold or silver to back up what they print. All currency is based on how much precious minerals that can be sold on the open market you have secured. Here in Canada,the French in Quebec have tried a few times now to separate from Canada,but they want to keep our currency.We,in the west would welcome them going,but we also would tell them to go all the way,we would be happy to be rid of them. For you,it would be the same as when the Confederacy was alive,same country,different money,different Governments. Does this help you ? Have a great day.
1 person likes this
• United States
25 Jun 11
Actually the USA went off the gold standard some years ago and that is one reason we are hip deep in debt. We no longer have anything of significance that backs up our currency. Therefore, the president can have as much printed as he pleases, which is what has been happening. When we were on the gold standard, we had to have sufficient gold to back up our dollar. The loss of the standard and our willy-nilly printing of money is another reason China is getting closer and closer to moving their currency into the world as the strongest in the world. If that happens we will need wheel barrows to take the cash to market to buy a loaf of bread. But we keep on printing and raising the debt limit like fools with no common sense whatsoever.
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@JenInTN (27565)
• United States
26 Jun 11
Very interesting points. I guess that is why Virginia wants out from under all that. Thanks for the responses.
@celticeagle (114086)
• Boise, Idaho
24 Jun 11
I had heard this about another state. They actually implemented it for awhile and it worked. I don't understand either. It reminded me of the mining communities. The mining company pays in script and so you have to use it in just that community. My big question was what if you have a bill(credit card,loan or whatever)and it is out of state. How do you pay the bill? I don't understand either.
@JenInTN (27565)
• United States
26 Jun 11
I think it would have to be like living in another country...having your money exchanged. It would be such a weird situation! I had no idea the mining communities were like that. Wow...you learn something new everyday. Thanks for the response.
1 person likes this
@celticeagle (114086)
• Boise, Idaho
27 Jun 11
That was years ago. Can't remember the certain mining community. Saw it on some doc.
@margeryann (1853)
• United States
24 Jun 11
That would be very confusing to have to exchange your money to just buy something there like gas if you are just going through that state to go to another one not to stay there.
1 person likes this
@JenInTN (27565)
• United States
26 Jun 11
I know! Could you imagine...and if you did...what if their currency was worth more...you would have to pay more than what your dollar would be worth in another state!
• United States
27 Jun 11
That would be awful to have to pay more when things are so expensive anyways and some people wouldn't know where to go to change your currency into theirs and that would be a big hassle when you are just going through there and just need some gas or your going to run out and break down and you aren't going to expect to have to do that in the first place.
@EvanHunter (4030)
• United States
2 Jul 11
No need to worry about there is no way the federal reserve is ever going to let that happen. You can bet that guy will be voted out the next election I am sure that who ever his opponent is they just got a huge donation. The federal reserve is not federal at all its a privately owned bank (against the US constitution I might add) they are so powerful they answer to no one not the president not congress they control the whole economy and stock market by the choices they make and we the (little) people suffer because of it. There is no way they will ever give up that kind of power...willingly.
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@JenInTN (27565)
• United States
6 Jul 11
I am speechless. I didn't think of it that way but you are right...even if there was a state that wanted to become independant from the reserve...they wouldn't let that happen would they? Hmm...interesting.
@CatsandDogs (13964)
• United States
30 Jun 11
Really? That's my home state although I don't live there anymore nor will I or my husband because we have a lot of bad memories that we want to stay away from. However, my parents still live in that state and are only 35 minutes drive from us but I haven't heard them talk about this. It is weird because yes, they'd have to become their own country in order to have their own currency. I honestly can't see how it could work in any other way and yeah, I have to agree, it is too weird! We'd then become a 49 state country..... Naaaaa. lol
1 person likes this
@JenInTN (27565)
• United States
1 Jul 11
It does sound odd...you should ask your parents about it and see what they say. It would be neat to hear from someone that lived there to tell us what they thought about it. Thanks for responding!
@bounce58 (17550)
• Canada
28 Jun 11
I would have thought that it should be the other way around. Like in Europe which implemented a single currency for the EU. It may challenge and create competition, but along with it they would bring a lot more problems. A lot more headache. Unless they don't want to be included in the union anymore.
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@JenInTN (27565)
• United States
29 Jun 11
That's the way I took it...like they wanted to seperate themselves. Xfactor provided a pretty interesting link about it. Thanks for responding!
@ANTIQUELADY (36491)
• United States
25 Jun 11
I think it's really odd to even suggest such a thing. I think he's just wanting attention . I bet he will get it but can't think that people will go along w/such a wierd idea. Politicians, grrrrr.
1 person likes this
@JenInTN (27565)
• United States
26 Jun 11
I know! I can't imagine what he is thinking. Thanks for responding.
@urbandekay (18314)
24 Jun 11
Goodbye UNITED states of America all the best urban
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@JenInTN (27565)
• United States
26 Jun 11
I know! What's up with that right? I was thinking that it would change them into their own little country. I don't think it will fly though. Thanks for the input.
@idowrite72 (2214)
• United States
24 Jun 11
I know nothing of this, but would say it takes something out of the words "The United States of America"!! I do agree that it is strange and can't understand how that would help when a new printing "press?" would have to be developed for the different bills?? Sounds as though the "Virginia politician" had one too many!!
1 person likes this
@JenInTN (27565)
• United States
26 Jun 11
Share some of that stuff with us right? I know! It sounds crazy! I can't imagine them actually going through with it.
@carolscash (9503)
• United States
24 Jun 11
I have several family members that live in Virginia and I am concerned about this. I don't understand how this would work either, but I am thinking that this delegate has just really confused himself and us as well as the residents of the state. It seems to me that people would not bother to go there if they had to exchange money when they entered the state.
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@JenInTN (27565)
• United States
26 Jun 11
I know!!! That would be a huge pain...just to travel within your country. I think it would be an odd situation. I did see on the news where they eventually wanted to include surrounding states too. Weird.
@savypat (20248)
• United States
24 Jun 11
It would remove the control of finance from the Fed to the State. It would work like a seperate country but I don't see how they would overcome all the Federal influences within the state. A small state that is not populated by many might be able to achieve this but a major state like Virginia would have so many headaches one wonders if it would be worth it. Federal roads, public schools would be the ones that come to mind first, in my way of thinking.
@JenInTN (27565)
• United States
26 Jun 11
I thought about that too. They would lose all the Federal support if they did that I would think. I was also thinking it would make them a seperate country too. I don't think I would be supporting that idea at all if I were in that state.
• United States
24 Jun 11
Okay after reading your discussion I had prepared in my mind what I thought about it, then I decided to search the net and guess what now I am , lol I don't know how this would work for them as the US Federal Reserve would be way too big to challenge by themselves so not sure what they are thinking. Outside of saying that perhaps they too are just as as me now. lol
• United Kingdom
25 Jun 11
Last time I searched a net I found a little tiddler in there :P
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@JenInTN (27565)
• United States
26 Jun 11
It is weird! I am very confused about it too. I see a little tiddler right now..LOL. Hey...where is that discussion anyway?
@Asylum (46767)
• Manchester, England
6 Jan 13
This seems completely illogical and is possibly intended as a ruse in order to become noticed. There are no benefits in developing an independent currency because the value would fluctuate greatly. It may be possible to convince many of the residents that they will benefit by no longer having to finance other regions, but there are many hidden pitfalls. For example, someone living close to the state limits may have friends and relatives a couple of kilometres away, so they would have to exchange currency to visit them. Furthermore if the cost of certain items varied from Virginia to that of other states then it would give rise to the illicit trade of them being smuggled in one direction or the other.
@JenInTN (27565)
• United States
7 Jan 13
It was the idea to separate themselves completely from the US. It was a very surprising idea for sure. It never went through and I never heard anything else about it. Your points are very valid about it and it was a pain to exchange currency for me back and forth when I traveled to Japan. I couldn't imagine having to deal with the fluctuations and stuff every time I wanted to travel outside the state or visit. They are pretty close to where I live.
• United States
22 Aug 11
i seriously doubt the federal government is gonna allow them to do that-because it's one step back toward succession again.i can understand states wanting to do that,but they don't want civil war part 2 happening.
@JenInTN (27565)
• United States
24 Aug 11
Your right...they would be taking great risk. The scare has apparently passed for them...there was a pretty good explanation of what was going on by xfactor too. Take care and thanks for the response.
@bunnybon7 (32489)
• Holiday, Florida
24 Jun 11
well, i asked the smartest person i know, my son and he says all of what you said so he dont know either. i really cant say how that works. maybe someone here knows hopefully
@JenInTN (27565)
• United States
26 Jun 11
It's a weird deal for sure. I don't think I would be picking it as an easy vacation destination if I had to worry about trading in my cash..especially if their cash was worth more than ours..we would be getting screwed then..lol...Thanks for responding.