The answer to that question can be found in this stark illustration of the economic fears still plaguing America. There was a resolution introduced in the Virginia legislature on January 12 that would create a subcommittee to officially consider the adoption of an alternative currency in case of a total breakdown of the U.S. dollar and the Federal Reserve System. Wait a minute, you mean as I have reported here last year the state of Virginia agrees with me that an economic collapse COULD possibly happen here in the USA?
If the dollar loses its status as the world reserve currency, which appears increasingly likely, the U.S. economy will suffer devastating consequences caused by the resulting hyperinflation — especially since America imports most of its oil. And with the world’s most prominent international institutions and leaders predicting and even calling for an end to dollar predominance, as well as the creation of a world currency controlled by a global central bank, the time for states to take notice and prepare may be now or never.
The Virginia resolution, introduced by Republican Delegate Robert Marshall, begins with the premise that the state government has a responsibility to protect the lives and property of its citizens. To fulfill that mission requires proper state finances and a “robust private economy,” both of which necessitate a “sound currency.”
And according to the bill, the current monetary and banking systems — revolving around the Federal Reserve — might not be able to provide the stability necessary for a prosperous economy and well-functioning state government. Not for long, at least. The present systems “have 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.”
So, is it time to panic yet, or move to Virginia?