Bachmann’s South Carolina Chair warned of hyperinflation, proposed new state currency
“Michele Bachmann is the candidate who doesn’t just give lip service to conservative principles but actively lives them out every day,” Bright said in a statement. “She is the conservative who has been consistent in her record and her rhetoric.”
Bright introduced his bill to study the creation of a new South Carolina currency earlier this session. The resolution argues that the right to print currency can flow from the state’s constitutional police powers.
Source: Sen. Lee Bright’s Facebook page.
“[M]any widely recognized experts predict the inevitable destruction of the Federal Reserve System’s currency through hyperinflation in the foreseeable future,” the resolution reads. ”[I]n 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, the state’s governmental finances and private economy will be thrown into chaos, with gravely detrimental effects upon the lives, health, and property of South Carolina’s citizens, and with consequences fatal to the preservation of good order throughout the state.”
If passed, the legislation would appoint a subcommittee to come up with a plan for an alternative currency.
“South Carolina can avoid or at least mitigate many of the economic, social, and political shocks to be expected to arise from hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System only through the timely adoption of an alternative sound currency that the state’s government and citizens may employ without delay in the event of the destruction of the Federal Reserve System’s currency,” according to the resolution.
It was last year that Bright played a major role in helping to pass a non-binding, but contentious, affirmation of South Carolina’s sovereignty under the U.S. Constitution to Congress.
“If at first you don’t secede, try again,” Bright joked to the Spartanburg Herald-Journal after the bill’s passage. ”I think all of our rights are under assault, but assault on the 9th and 10th amendments is the most egregious.”
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