Legislator says NC needs its own currency

[demwing]

RALEIGH -- Cautioning that the federal dollars in your wallet could soon be little more than green paper backed by broken promises, state Rep. Glen Bradley wants North Carolina to issue its own legal tender backed by silver and gold.

..."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 in correspondence to precious metals stored in the state treasury."

Bradley's bill has yet to attract any co-sponsors among his fellow Republicans.

http://www.newsobserver.com/2011/03/17/1059132/legislator-says-the-state-needs.html#

MEANWHILE...

North Carolina $3.7 billion deficit, $43.7 billion in debt
North Carolina operates on a biennium budget schedule, budgeting for two fiscal years at a time. While the General Assembly draws up a budget every two years, it then adjusts the budget just prior to the state of the the second fiscal year of the budget. The State Assembly passed the $19 billion FY2011 budget and Gov. Bev Perdue signed the budget into law on June 30, 2010.

...North Carolina has a total state debt of $ 43,742,516,373 when calculated by adding the total of outstanding debt, pension and OPEB UAAL’s, unemployment trust funds and the 2010 budget gap as of July 2010.

...The Office of State Management and Budget estimates that the state could face a budget shortfall of $3.7 billion. Governor Bev Perdue instructed agencies in September 2010 to determine how to cut spending by up to 15% in FY2012, which begins July 1, 2011. That's in addition to 1% that Perusse asked them to set in reserve back in August 2010.

http://sunshinereview.org/index.php/North_Carolina_state_budget#

Three points worth noting -

1. The idea of having separate currencies for states was settled quite a while back. Read the Constitution, ya maroons -- Article 1, Section 10. The idea is ridiculous.

2. North Carolina ended collective bargaining for Public Sector Unions in 1959. Why do they still have budget issues 52 years later? Isn't collective bargaining the cause of all budget woes, and it's elimination the end to those woes?

3. Hey NC Idiot Legislator - you're state is $45 billion in debt, with a $3.7 billion deficit, and you think you'll have a more stable currency than the United States? BWAHAHAHA!!

[Taverner]

1. And yet another BATSHIT CRAZY REPUBLICAN

[Shagbark Hickory]

11. yeah you would think that coming from the land of $1 million ghetto crack houses.

I think this guy's on to something except he's got it backwards.
Califonia and those western states need their own currency. The high cost of living there is causing inflation for everyone else.

[NYC Liberal]

2. Are these people really that stupid? Seriously?

"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."

[SoCalDem]

3. I wonder how much NC taxpayer money went to lure busineses there

and how many of those enterprises then bailed when the freebies ran out...


NC's prior enterprises, furniture, paper pulp & textiles are prime outsource industries and most have already gone... and then we have tobacco..and we all know where that one is headed.

The state's industrial output—mainly textiles, chemicals, electrical equipment, paper and pulp and paper products—ranked eighth in the nation in the early 1990s. The textile industry, which was once a mainstay of the state's economy, has been steadily losing jobs to producers in Latin America and Asia for the past 25 years, though the state remains the largest textile employer in the United States.<53> Over the past few years, another important Carolina industry, furniture production, has also been hard hit by jobs moving to Asia (especially China).

North Carolina is the leading producer of tobacco in the country.<54> As one of North Carolina's earliest sources of revenue, it remains vital to the local economy. Agriculture in the western counties of North Carolina (particularly Buncombe and surrounding counties) is presently experiencing a revitalization coupled with a shift to niche marketing, fueled by the growing demand for organic and local products.
Employment

North Carolina is an at-will employment state, meaning employees in the private sector may be dismissed without prior notice or reason.

In January 2010, the state's unemployment rate was 11.8%; in April 2010, it was 12.9%.<55>

[Scurrilous]

4. K & R

For the crazy. :thumbsup:

[Urban Prairie]

5. How do brain-dead idiots like this clown ever get elected to office?

Makes me believe that I should have run for office during the years that I was either low-paid or unemployed.

If someone who is out of work can stomach it, he or she should become a teabagger, as it seems that the craziest lunatics amongst them, who can most loudly and boldly profess their ignorance, stand the best chance of obtaining funding for campaigns and attracting the most supporters.

[hayu_lol]

6. Shades of the Confederacy...

these goons want to bring back the 'shinplaster.'

[Urban Prairie]

14. The teabaggers should use those little teabag tags stapled to their strings as

shinplaster change instead of coins...hah!!!

[nichomachus]

10. I think it's a requirement to be a GOP candidate

[madmax]

7. Yes, another batshit crazy 'Puglican in NC

Moved here 3 years ago. Love it but, we do have a few idjits.

Just from what I see in my little corner of the world there are a lot of NJ and NY'ers moving here. Hopefully we can turn the state bluer than blue. A Liberal mecca ;) Hey! I can hope.

[Deep13]

8. Um...

[Angry Dragon]

9. The Regressive Party has some great ideas

As soon as I run across some I will post them
In the mean time do not hold your breath

[Tierra_y_Libertad]

12. What does he intend to buy the gold and silver with? Yen?

[denverbill]

15. Probably some old Confederate dollars. n/t

[loudsue]

13. I am in this idiot's district in NC. He beat the guy whose campaign I worked really hard for.

When I try to tell you what a red area looks like in NC, this is the teabagger dude that beat out a very decent, life-long union member democrat.

[demwing]

16. States with plans to print their own currency in 2011

North Carolina
(See Above)

Virginia
http://www.commodityzen.com/2011/01/gold/house-joint-resolution-no-557/

South Carolina
http://www.9newz.com/south-carolina-lawmaker-wants-separate-currency-for-state

Tennessee
http://www.investorvillage.com/smbd.asp?mb=1911&mid=10226103&pt=msg

I've also heard Georgia, but could not confirm. In addition, California, Idaho, and Michigan had similar plans, but the last I saw on those states was 2 years ago...