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The Federal Reserve got another
“no confidence” vote of sorts from another state in the union,
this time Tennessee, where the legislature joins a host of other lawmaking
bodies outside of the nation’s capital in considering alternatives to
the U.S. Dollar, according to this report in The New American, just in case the central bank collapses.
Tennessee
Considering Alternate Currency Legislation
Monday, 28 March 2011 22:00
On February 22, Tennessee State Senator Bill Ketron
(R-Murfreesboro) introduced a joint resolution in the General Assembly
calling for an official inquiry into the advisability of the state adopting
an optional currency in case of the collapse of the Federal Reserve.
According to the text of Senate Joint
Resolution 98, Ketron’s purpose in initiating
such a proposal is “to create a special joint committee to study whether the State of Tennessee should
adopt a currency to serve as an alternative to the currency distributed by
the Federal Reserve System in the event of a major breakdown of the Federal
Reserve System.”
…
Ketron turns his attention to the notion that the
Federal Reserve is a reliable, robust, and trustworthy institution:
The present monetary and banking systems
of the United States, centered around the Federal Reserve System, 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; and
many widely recognized experts predict
the inevitable destruction of the Federal Reserve System’s currency
through hyperinflation in the foreseeable future; and
in the event of
hyperinflation, depression, or other economic calamity related to the
breakdown of the Federal Reserve System, for which the State is not prepared,
Tennessee’s governmental finances and private economy will be thrown
into chaos, with gravely detrimental effects upon
the lives, health, and property of Tennessee’s citizens, and with
consequences fatal to the preservation of good order throughout the
State…
Utah’s gold and silver as legal
tender law awaits the governor’s signature as Tennessee joins Colorado,
Montana, Missouri, Indiana, Iowa, New Hampshire, Oklahoma, Tennessee,
Vermont, Georgia, and Washington in considering similar legislation. South
Carolina and Virginia have both passed their own versions of new legal tender
laws.
Tim Iacono
Iacono Research.com
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