Saturday, February 12, 2011

Senator Lee Bright Wants South Carolina to Print it's own money

South Carolina State Senator Lee Bright (R-Roebuck) 

My home state is full of idiots, and for some reason we like to elect a lot of them too. While reading the newspaper I came across this story about one of our local state senators who wants South Carolina to print it's own currency. Here's a few quotes from this not so bright fellow and his 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,”

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

“The Supreme Court of the United States has ruled that the states may adopt whatever currency they desire for the purposes of performing their sovereign governmental functions, even to the extent of adopting gold and silver coin for those purposes while refusing to employ a currency not redeemable in gold or silver coin that Congress has designated ‘legal tender.’...”

I know the dollar and the federal reserve haven't been a popular subject the past couple of years or so, but I don't think were at any risk for hyperinflation nor do I think South Carolina has any decent shot at a backup plan like this. It doesn't even make much sense either. How would cashier's handle this new currency? Would they have a federal register and a state register? Do I have a U.S. dollar bank account, and a S.C. dollar bank account? His plan is to have SC make coins out of gold or silver too which makes me think I'm going to paid like a pirate or something if his bill passes.

“If at first you don’t secede, try again,” -Lee Bright

It really seems to me that Senator Bright is really just a dumb fool who is one of many conservative crybabies who act like we live in 1861 once we have a Democratic President. As long as his plan is concerned, all of SC citizens are probably going to feel about as financially secure as Homer Simpson after he invested in Itchy and Scratchy money.


Anonymous said...

You have a lot of studying to do. I pray you are not an elected official because you are highly mis or uninformed on the subject of currencies. You all would be advised to listen to your elected official on this matter and study the newly formed investment habits of the informed. They are all MOVING out of the dollar. It is a FIAT currency. Study the history of fiat currencies and stop misleading folks with your uninformed thoughts.

Adam said...

I know you and your gold standard cronies are like. Gold standard is bull, and it's only real advantage is that it does well with inflation.

Anonymous said...

Adam? How come it is that every president that has tried to get the govt to issue its own money has been assassinated?