A South Carolina state politician wants the state to develop its own gold and silver-based currency in case the Federal Reserve collapses and hyper-inflation ensues. "If folks lose faith in the dollar, we need to have some kind of backup," State Sen. Lee Bright told the Spartanburg Herald Journal's Stephen Largen. His bill asks a... .
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There is no way that this is good for either the citizens of South Carolina nor for the United States. Once we start issuing state currencies then we devalue the dollar. One of the things about the dollar is that it is the world's currency. The United States has a certain power because the entire world uses the dollar so a devaluation of it's worth would be even more damaging.
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