In the news recently, there are at least thirteen states that are proposing minting their own coin to be used for business. The idea is that in case the Federal Reserve goes belly-up or there are other issues, commerce can still be handled at the state level.
While I am not for abandoning the dollar I wouldn’t mind an alternative coin currency that is actually made out of gold or silver for business transactions within the state or States.
Here is my proposal to add to the mix. Why not have a universal state coin where it is actually made of gold (or silver) in various currencies and that way there would be another inter-state currency along with the dollar that we can use for trade and business within the states? By virtue of the coins being made of gold or silver they would have more perceived value and worth than a piece of paper.
The coins would be minted similar to coins that are minted at different presses now under strict standards and supervision. I submit that it would also create more jobs with people accepting the coins, moving back to handling commerce face-to-face and locally versus the Internet.
I wouldn’t like to see it devolve into dozens of states with their own currencies – that would make us as messy as Europe or the early United States. The American dollar does work great as a tool for commerce, thanks, but it wouldn’t hurt to actually deal with gold and silver just in case.
Let me know your thoughts.
Stay healthy, happy, wise and get wealthy!
Kim Isaac Greenblatt
Feb 03 2012
States Minting Their Own Gold and Silver