Sen. Lee Bright: SC should coin its own money
Stephen Largen
GoUpState
Continuing a pattern of attempts to assert South Carolina’s independence from the federal government, State Sen. Lee Bright, R-Roebuck, has introduced legislation that backs the creation of a new state currency that could protect the financial stability of the Palmetto State in the event of a breakdown of the Federal Reserve System.
Bright’s joint resolution calls for the creation of an eight-member joint subcommittee to study the proposal and submit a report to the General Assembly by Nov. 1.
The Federal Reserve System has 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, according to the legislation.
“If there is an attempt to monetize the Fed we ought to at least have a study on record that could protect South Carolinians,” Bright said in an interview Friday.
“If folks lose faith in the dollar, we need to have some kind of backup.”
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