Column – Virginia must opt to offer goldback as currency

Published 6:58 pm Friday, March 17, 2023

Getting your Trinity Audio player ready...

Now is the hour; we are seeing a time in history where foreign nations are escaping the confinements of the federal fiat currency, known as the American paper dollar, that has deceived not only the world, but the pockets of the American people to this day; therefore, allowing only the elite class to control and regulate the access to true wealth through faith in a piece of paper that is not backed by anything. 

While Americans are distracted by pseudo statesmanship on all fronts, foreign nations, specifically our prime threats China and Russia, are forming economic alliances under the organization known as BRICS: Brazil, Russia, India, China and South Africa. They are putting forth agendas to drop the dollar entirely; forming new economies outside of the fiat currency and backing them with gold, which will devalue the dollar and hinder Americans wealth. 

It is time to push forward Virginia State House Resolution No. 557, to determine a second currency that is constitutionally sound and one, like gold, that is respected by all foreign nations. 

Email newsletter signup

This is not a new trend by any means but better yet, an old warning that has not been heeded properly here in the commonwealth, as it has in other states across America. If we do not get ahead of this by opening up a second currency here in the states, we are in for some real trouble and hard times. 

This will disturb foreign trade and economic growth domestically, and the first signs of this distress will be bank closures across the nation, which will change the psychology of our own Suffolk community. The poor will starve, and crime will increase. The middle class will demand or take more power. The once wealthy class, that made their fortunes off the fiat currency, will not hold the order they once had because paper currency will not hold the same weights and measures; and it will be despised by the local population after such a collapse.

The necessary thing to do would be to formulate a Virginia state currency that is economically respected by all, statewide and national, to decrease the impact of the coming federal currency crisis, while enacting one that allows it to be honestly regulated, locally, by the Virginians, and not by big bankers sitting on Wall Street.

Virginia legislators must look to the other states, like Utah and Wyoming, for inspiration on procuring the wealth of their citizens and establishing safeguards for business transactions by legislating a Virginia legal tender act.

This would allow gold and silver coins to be a Virginia state legal tender. Then the free market can put forth a Virginia goldback, which would be upholding the U.S. Constitution, as they should have already done so prior. Article I, Section 10 states that “No state shall…make any thing but gold and silver coin a tender in payment of debts.”

What good does a goldback have for we the people? Well, during the time of the founders, they couldn’t construct measures of gold into a carriable fashion with respects to all levels of wealth. This is where the long dead-end history of American notes comes into play. 

Today we can establish gold coin notes, in reasonable measures that represent all levels of wealth. They are already being used in state business transactions in Utah, New Hampshire and Wyoming, which is what is called Goldbacks and is advertised as: “The Goldback is the world’s first physical, interchangeable, gold money, that is designed to accommodate even small transactions and to promote the use of inflation proof currency and to protect the spending power of families and individuals at any income level.”

It looks like your paper dollar, can be carried like your paper dollar, and can be vaulted like the paper dollar. But it is actual gold and the federal reserve cannot tell you otherwise. The private federal reserve has notoriously devalued the wealth of this nation and dishonorably ran a ponzi scheme on all of the American citizens since its creation in 1913, which was arguably the foundation of the current economic monopolization of a currency that is unconstitutional. 

If Virginia doesn’t heed the warning now, the hard times will just be meticulously harder. 

Wouldn’t all Virginias feel better knowing that there were measures in place to guard against the federal currency collapse that is bound to transpire? 


Drew Varner resides in Suffolk and is a researcher and writer.