Saturday, February 12, 2011

State senator says South Carolina should create its own currency

Stephen Largen at (a service of the Spartanburg [SC] Herald-Journal) reports that State Senator Lee Bright (R-Roebuck) is introducing what we in Ohio would call an "honest money" resolution, requiring the use of gold or silver in payment of taxes. Sen. Bright is concerned that monetizing the national debt through the Federal Reserve will lead to "debilitating consequences," and thus favors a backup plan for South Carolina.

Phil Bailey, chairman of the South Carolina Senate's Democratic caucus was quick to scoff at the legislation; and even the tone of Mr. Largen's article sounds like "there Sen. Bright goes again, preaching secession."

However, we do need to start thinking more independently, and Honest Money is one way we can protect ourselves short of secession. So far, no such legislation has been introduced into either house in the Ohio General Assembly.

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