Senator checking out South Carolina currency
Mon, 14 Feb 2011 21:31:12 GMT —
COLUMBIA, S.C. (AP) -- A state senator from Roebuck believes that South Carolina should decide on whether to issue its own currency.
Republican Lee Bright is calling for a subcommittee to study whether such a currency could protect the financial stability of the state. He tells the Herald-Journal of Spartanburg that South Carolina could use its own money if people lose faith in the dollar.
Bright's legislation says the Federal Reserve System is at risk from hyperinflation. It says the new currency would be made of gold or silver or both.
Democrats say the legislation is a waste of time.
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