Thursday, March 17, 2011

Call For North Carolinan Gold And Silver Money

Emulating Utah, North Carolina State representative Glen Bradley wants the legislature of that state to issue its own gold and silver legal tender.
The Republican from Youngsville has introduced a bill that would establish a legislative commission to study his plan for a state currency. He is also drafting a second bill that would require state government to accept gold and silver coins as payment for taxes and fees....

"I think we're in the process of inflating a dollar bubble that could be very devastating," said Bradley, a freshman legislator elected in November's GOP tide. "The idea is once the study commission finishes its work, then we could build on top of the hard-money currency with an actual State Tender Act that will basically [issue currency] in correspondence to precious metals stored in the state treasury."
So far, he's a man alone in the legislature. His proposal is already being met by catcalls.

Still, it's a step. North Carolina isn't Utah, so that bill isn't likely to go far, but Rep. Bradley is still part of a new and growing trend.

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