South Carolina Senator Want the State to Create It's Own Currency

With the dollar becoming a worthless piece of paper, South Carolina sate Senator Lee Bright (R) is following the footsteps of Montana. He is recommending that South Carolina begin issuing its own currency. Montana began pushing this idea last year, and its becoming apparent the states are losing faith in the central bank known as the Federal Reserve and they are looking at ways to protect their residents investments.

From Go Upstate:

Continuing a pattern of attempts to assert South Carolina's independence from the federal government, State Sen. Lee Bright, R-Roebuck, has introduced legislation that backs the creation of a new state currency that could protect the financial stability of the Palmetto State in the event of a breakdown of the Federal Reserve System.

Bright's joint resolution calls for the creation of an eight-member joint subcommittee to study the proposal and submit a report to the General Assembly by Nov. 1.

The Federal Reserve System has come under ever-increasing strain during the last several years and will be exposed to ever-increasing and predictably debilitating strain in the years to come, according to the legislation.

“If there is an attempt to monetize the Fed we ought to at least have a study on record that could protect South Carolinians,” Bright said in an interview Friday.

“If folks lose faith in the dollar, we need to have some kind of backup.”