Guest Post: How States Can Protect Themselves From Financial Collapse

Tyler Durden's picture

Submitted by Brandon Smith from Alt-Markets

How States Can Protect Themselves From Financial Collapse

The states of America are, truly, children of the Constitution.  The legal framework that is the foundation of state sovereignty and internal administration is unique for perhaps any country in history up to the moment the U.S. won its independence.  States were designed to decentralize and keep in check the power of a subservient Federal Government.  They were meant to be the guardians at the gate, the barrier to the formation of oligarchy or outright dictatorship.  This, of course, has changed drastically.

The battle over centralized verses decentralized authority and economy has been going on for quite some time, and is undeniably critical in our climate of crisis now, under a government which is bankrupt in every sense and a currency which is on the verge of calamity.

A vast shift in state independence was definitely caused by the reformations of the Civil War, but the progressive erasure of financial sovereignty in the states was really placed on the fast track after the Federal Reserve Act of 1913, when the enforcement of new taxes fueled the establishment machine, including social security (which the government constantly steals from) and the income tax (which does not pay for any state infrastructure), came to life.  Now, the Federal Government could borrow fiat money created at will by the private central bank from thin air, and, it could tax the populace to feed the Federal Reserve in a cannibalistic circle of doom.  This dynamic has grown our government to a size so massive that it is now forced to monetize its own debt just to survive.

Setting aside the inevitable collapse of the dollar and our economic system as we know it, a considerable goal has been achieved by centralists; with so much free money at the disposal of the Feds, they could wipe away the last vestiges of state sovereignty by simply BUYING state compliance.  Through agencies like the EPA, FDA, ATF, etc, 10th Amendment checks and balances are trampled constantly without any regard for local laws or the will of the people, but really, state governments and citizens would be in a far better position to deny such agency intrusions if they didn’t gobble every dollar that D.C. waves in their faces like doggie treats.  In our era of tenuous fiscal sop-gaps and imploding economies, the need for Americans, and especially states, to decouple from the Federal Government and the mainstream system is more important than ever.

The following is a step by step method that states could use to accomplish the task of insulation from financial crisis and federal control.  Much of it hinges on a willingness by state governments to actually pursue independence, which might seem like a naïve dream to most of us.  But, in the wake of a major breakdown, and the fall of the greenback, I believe many states will be seeking a way to weather the storm, if only out of a desire to survive, and this includes walking away from their ties to Washington:

Step 1:  Stop Accepting Federal Funding

For states already drowning in debt, this is probably an incomprehensible idea (there is no financial escape for California or Illinois that I can see), but for those states which have some responsibility, and lower debt levels, federal funding is not necessary.  Much of the money that the Federal Government collects comes through state cooperation.  This money is then handed back to the states through various avenues with strings attached.  The rest of the capital D.C. pumps into states is attained through printing; which carries the high price of dollar devaluation and the hidden tax of inflation.  The fact is, states are not required by law (yet) to accept federal funds.  As long as states do so anyway, they expose themselves to federal influence.  As the dollar goes, so shall all those tied to it.  States should take a lesson from the Asian bloc nations like China or Japan and begin distancing themselves as far away from U.S. currency and debt as possible.  In the long term, those that do will endure.  Those that don’t will be drug under the water along with the sinking ship.

Step 2:  Enforce 10th Amendment Nullification

Once states are no longer beholden to federal monies, they have more leeway to obstruct intrusions by alphabet agencies and to deny dangerous legislative programs (like Obamacare) which put them at financial risk.  Nullification takes many forms, and numerous issues have the potential to become vehicles for the assertion of 10th Amendment rights.  One very fascinating political method was devised by representative Phil Hart of Idaho, who used the power to declare emergencies by states themselves to devise a piece of legislation which would allow Idaho to trump Federal and EPA restriction of the local wolf problem.  As the bill flew through the legislature, interestingly, Congress delisted the wolf as an endangered species.  Obviously, the Federal Government did not want the issue to become a success for 10th Amendment rights, and so defused the situation pulling the EPA back.  Essentially, the Federal Government blinked.

This strategy could be used for multiple state conflicts with the Federal Government to effectively nullify their ability to lord over and interfere with specific needs of the people of a particular region.  The future economic prosperity of the various states will depend greatly on their ability to take decisive fiscal action without constantly having to ask permission from the feds.

Step 3:  Set Up A State Bank

There is certainly some controversy over the idea of a state bank.  In the end, any institution can be twisted for devious ends, and a state bank is no different.  However, this system has worked well in North Dakota, where a state bank has been in operation for over 90 years.   Some from the “left” (whatever that means anymore) often attempt to use the institution as an example of “socialist banking”, which is not exactly accurate, and gives the strategy a bad name.  Yes, the bank is state owned, but its purpose is to invest in and encourage free market enterprise within the state, not create a state owned and operated economy.

A state bank would be especially effective in resource rich areas, where a state government can invest in local projects run by local companies which employ local people.  This is the opposite of what we see so often today, where international corporate entities are given monopoly over resource development within a state.  They siphon away most of the profits and jobs from the region, while the Federal Government thwarts the growth of competing small businesses through concerted taxation and regulation.  This goes on because states often do not feel they have the funding capability to encourage local business efforts.  The problem diminishes drastically with a state bank, if done correctly, honestly, and with oversight from the citizenry.

Step 4:  Resource Development

As mentioned above, resource rich states will have a noticeable advantage in the event of a primary system collapse.  As the dollar continues to tumble and inflation rises, trade methods will eventually revert to raw goods and materials.  This has taken place in nearly every recorded modern economic crisis, and was especially prevalent during Weimar Germany, when debtor nations began refusing the hyperinflated Mark as payment, and demanded natural resources from the Germans instead.  States with heavy resources will be in a perfect position to decouple from the failing establishment and build their own systems (which is probably a main motivation behind Obama’s latest “National Defense Resources Preparedness Executive Order…).

Step 5:  Adopt Alternative Currencies

There is a lot of debate over the “legality” of a state coining its own money, so, I recommend cutting out the debate entirely and merely adopting certain metals, like silver, gold and copper, as recognized methods of payment within the state.  Many state governments are considering measures for alternative currencies, and some, like Utah, have passed bills on precious metals.  The problem is that most of these bills do not go far enough.  At bottom, states are going to have to complete the economic chain by paying OUT precious metals into the system and encouraging businesses to do likewise.  It’s not enough for residents to be allowed to pay IN.

States that rely on the dollar as their only trade mechanism will fail.  States that decentralize currencies by adding other options into the mix will survive.  It’s really that simple.

Step 6:  Encourage Localized Markets

States will only be as healthy economically as their individual communities allow.  Small communities can become independent trade networks on their own, but the right state help and encouragement would make the process move along much faster.  The more self reliant each town and county becomes, the more insulated they become from wide spectrum disaster.  During any national breakdown, redundancy is the key.  It will mean the difference between a total nightmare scenario and large scale tragedy, or a minimal system shock followed by rapid rebuilding.  Barter must be reintroduced to the American lifestyle, and states have the ability to help nurture network growth.  Trade skills and micro-industries can easily be promoted through state programs.

This is the kind of constructive government involvement that is needed; it seeks to open doors and then gets out of the way, rather than closing doors, and grasping for more control.  Unfortunately, policies like this are not possible under the current Federal construct, but they still could be possible within the states.

I would like to point out that in the event that your state government is not receptive to the idea of independent economy, all is not lost.  Each one of the steps above can be accomplished in reverse at the neighborhood, town, and county level.  Over a period of time, and with relentless drive, solid alternative networks will spread, link, and take over a state regardless of what the local government approves of.  The secret is this;

Provide for yourself and others what the mainstream system will not, and eventually, they will either have to conform to your logic, because it works, or, they will have to try and stop you with violence and expose their inherent tyranny, building greater resistance.  In either case, you win.

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engineertheeconomy's picture

Best way for the states to protect themselves would be to arrest the bankers and put them in jail, then start printing money backed by precoius metals and actually put it into the base of the pyramid for a change

jez's picture

Didn't a number of states try that in about 1860?


But what the hell, maybe it's time to try it again. Best plan would be for all the states to secede first, and then all the individuals in the states to secede from their state gummints.

economics9698's picture

States need to be ready to go it alone because they will have to go it alone.  When the fiat dies so dies the federal government.  Piling up 30% short term federal debt at 0.08% interest is a death sentence for the federal government.  And when the fiat is worthless the bread trucks do not run to the cites.  If the state governments ignore the collapse then they should be violently overthrown and the legislatures hung from the nearest tree until the mother fucking politicians start fucking working for the people again.

When the SHTF the only thing these political thugs understand is violence.  Hang the mother fuckers whenever you get a chance.

engineertheeconomy's picture

States, Counties, Communities, neighborhoods, households - will all have to go it alone. And soon. The problem will be that our brainwashed military will try to exert control. They have billions of gallons of fuel stored in preparation for the event. However, eventually their fuel will run out. They will fail. What is not sustainable will eventually fail. Preppers and homesteaders will do fine. People in cities will be dependant on surrounding farmers for food. The military-banking-complex already owns most of americas farmland, so if you do not own a atleast a small farm, you might want to start looking. Otherwise you will be dependant on others. What would you do to feed yourself and your family? What will you do? Some will try to take advantage of others like in New Orleans. Except this time it's going to happen on a much larger scale. And there will be no one to come to the rescue of those that have not been listening. What are they going to do when the power is permanently shut off and there's no TV to tell them what to do?

Things that go bump's picture

Never let a good crisis go to waste works both ways, and I think there are any number of crises heading at us.  Best to wait until the height of a crisis, such as the coming currency crisis, a massive natural disaster, or another one of their useless foreign adventures, which I think will be in the works as soon as things are obviously going in the toilet, in other words, any time now. When their attention is diverted and they are stretched too thin, that is the time to strike out for independence. Kick 'em when they're down. 

Michael's picture

The USA is getting dangerously close to complete and total economic collapse, as is the rest of the world.

May I suggest we organize local community groups to meet once a week or so to discuss how we, in our local communities, will prepare for the inevitable economic collapse, and come up with viable solutions to get us through the ruff times ahead. The federal government will not address the problem, they only make the outcome worse.  We prepare for civil disasters, it would also be prudent to prepare ourselves for an economic disaster as well.

What's wrong with organizing locally in your own community to prepare for the inevitable? Some Grecians have the right idea.

dolly madison's picture

There's nothing wrong with organizing locally.  My husband does talk to several people making plans of how to get firewood to everyone, and to keep the water flowing if need be. 

I have also put up flyers in my community, and I have seen others put up flyers too warning that it could be coming, and to stock up on months of food in order to hopefully make it more doable here.

I don't think it needs to be a weekly meeting yet though. These things take so much time.  It could still be years before it gets bad, or it could be soon.  Where I live is a very small town surrounded by ranch land for at least 120 miles in every direction.  There is a bit less to prepare for here than in heavily populated areas.  More people are closer to self sufficiency here already, but not everyone. 

Michael's picture

Thanks for the input. I'm just glad a rational discussion is starting on this subject. We may be able to save hundreds of thousands of lives if we get started pretty soon.

GeezerGeek's picture

What is needed is for all fifty states to secede from Washington, DC. simultaneously.

The other seven states can be returned to Mexico or sold to China.

MillionDollarBonus_'s picture

This is one of the most ignorant articles I have read for quite some time. Here are some lessons for doomer libertarians on the real constitutional powers of the federal government:

1. The Interstate Commerce Clause allows the federal government "To regulate Commerce". Therefore it is the constitutional right of the federal government to regulate ANY business for the good of society. Case Closed.

2. The General Welfare Clause allows the federal government to tax the states and provide welfare to those who need it. This is an open and shut case I'm afraid, so libertarians better get used to it.

Also, "adopting alternative currencies" is an act of OPEN TERRORISM toward our government and Federal Reserve as it undermines our national currency. Bernard Von Nothaus was sentenced to prison for this, after being flagged by the Southern Poverty Law center as a potential counterfeiter.

imbrbing's picture

uhhhh.......regulate Interstate Commerce 

is NOT  a right to "regulate ANY business"



MillionDollarBonus_'s picture

These businesses are involved in interstate commerce, so it is perfectly legitimate for the Federal Government to regulate them. Let me guess, you're another one of these purist libertarians. You think we can just let every business sell goods and services and hire people AT WILL? We need regulations to make sure consumers are not able to make uninformed choices. Because politicians are more trustworthy and responsible than average, they are more qualified to make choices for businesses and consumers than the people themselves. This is just common sense.

imbrbing's picture

LOL, surely you jest. What are "these businesses". If I want to grow lemons in my back yard, squeeze that into glasses, sell it on the street, the FEDERAL GOVT

doent need to get involved. That is not interstate. If I bottle it up, ship it to florida, the federal govnt can step in to make sure the 2 states play nicelty together

in the transaction.

imbrbing's picture

And if I dont like how the STATE regulates how I sell on my local street corner, I will find a state I do agree with.

GeezerGeek's picture

You overlook the fact that the FDA and EPA will intervene anywhere they want, for any or every reason, or for no reason at all beyond some administrator is suffering from PMS.

The ability of businesses to do as they wished ended when the Feds outlawed discrimination based on race and forced some small restaurants to serve blacks. Freedom to conduct business as one wishes may have ended earlier than that, but I remember - fuzzily - the debates over the Civil Rights laws on this issue.

Apparently the word 'regulate' now includes 'coerce' as a subsidiary meaning, and 'interstate' means 'any where, any time'.

For a better understanding of where the US is headed, listen to this song from around 1967:

Chump's picture

Stop replying to your replies.  You invariably fall off the script and it's clear that your primary weakness is when you ad lib.  Also, stop saying that politicians are more trustworthy and responsible than the average person.  Not even the people you're parodying believe that.

tarpuranus's picture

You are joking, right? Sometimes I almost believe that you believe what you are saying.

Must me me, misinterpreting your comment

Al Huxley's picture

Because politicians are more trustworthy and responsible than average...


Good one!  I actually, literally LOL'd at that.  You're in fine form today MDB!

bank guy in Brussels's picture

It's quite something that even after so many posts with fake views pretending to support the US empire, MDB still manages to scoop up several more people who don't get the sarcasm, nearly every time he posts.

Though I think MDB made it harder when he recently changed his avatar photo. I preferred the earlier brighter one. But maybe MDB changed the image to help fool people a bit better.

Kudos to Tyler for keeping MDB on here, giving all the laughter, despite the majority of down arrows from those who haven't yet caught on to the game.

XitSam's picture

Who are you really? Someone from the Mises Institute? Tom Woods? Even dyed in the wool Keynsians like Krugman wouldn't make these arguments. Robert Murphy? It's not even nuanced anymore. C'mon, you can tell me, I can keep a secret.

nicxios's picture

Now this is some mighty fine trolling! 

Golden Showers's picture

Um, mdb, do you realize that every time you limp dick onto this board that:

Your weak sellout bait further consolidates and strengthens the resolve and solidarity of those with balls enough to post their thoughts on why you suck?

Also, when I do read your posts, it puts me into a position where I have to check reality. Thank you for that. For every post of yours I do a gut check. Then I check out the news of the day. After that I drill down into fundamentals. You provide me with ample questions to consider. For that I welcome your comments. However, I find, consistently, that you offer nothing to further the conversation to these threads on this board. Rather, it appears to me that you seek to derail the thread because your pussy hurts. I am sorry that your pussy hurts, sir. Perhaps you may find that you are simply doing it wrong and you would indeed find that your comments would be welcome somewhere else on another board, for example. Maybe on the IMDB Titanic Message Board. I don't know. But here, you seem to want (today) to offer a politicized view of libertarians. This is well and good and more power to you. However, you cannot make any and all of these postings into a debate on libertarian "ideals" as you so endeavor to do in your second post on this thread.

I concur that you are indeed putting your cart before the horse your mother rode in on. Look: it's not my fault. It's just that you continue to shake the fig tree.

Now, it's no skin off my nose, but I think that perhaps there are more than (n)one of you. And I wouldn't put it past the Tylers to create a little fun by posting as a troll, douche nozzle, just to check the pulse on their wonderful news outlet.

But you know what? I doubt it. "Hen" is too busy to stop kicking ass researching and typing to stop and jerk me off. I must then conclude that you, mdb, are simply either a sick loser with nothing better to do than entertain yourself with baiting this board, or that you are a species of skynet with an agenda to spider web suckers for your amusement.

But look: honestly, dude, you are actually not scaring anyone and you are proving yourself wrong by consolidating "our" research, gut-checks, and togetherness against your own. Ultimately, you are, on this board, nothing but a grab-ass fig-shaker. And I have to ask "Why"? What is it about you(s) that desires and wants derision? What kind of person are you who wants to get your ass handed to you daily?

Wouldn't you just feel better if you killed yourself? Listen: In your city there is sure to be a toll-free number that you can phone where people will understand your confusion and uncertainty. Hell, we all face it. Let me reach out to you here, you are a good person. You really are a benefit to each and every person who reads the comments. But, look, dude. You're taking the hard road. And you must be getting something out of this that is more important than being made the butt of every joke on here. Is it money? A job for you to check in? Why don't you tell us? It's ok. You are welcome here (if I am).

Otherwise, don't not exepect to NOT get your card pulled, you weak piece of shit. Think of it as a gift that I am writing to you now, you sack. Because I might be a lot of things including a "private person", but I ain't, at the end of the day, confused.

Keep writing, baby!



PS: Keep on Fight!

GCT's picture

But MDB the states can convene a constitutional convention consisting of 38 states and tell the fed to bite off and guess what!  Nothing the Fed can do, nor can the supreme court, or congress.  I know you will not take this well and that is ok. One must read the whole constitution to understand this. Counterfeiting is one thing notice how Arizona is now using gold and silver as well as FRN.

Dam terrorists. 

gaoptimize's picture

You really are the mouthpiece of the enemies of liberty here, aren't you MDB?  I really don't know how you can live with yourself knowing the scale of the corruption you are defending.    You only hasten and maginify the collapse by preventing even the smallest adaptations and defenses against it by individuals and groups.  The next couple of years will be very painful for you to observe and reconcile with your ideology.  I recommend you do some soul searching and reform yourself.

smb12321's picture

MillionDollar - my beef with your policies is that they've been tried (repeatedly) and the result is an increasingly authoritarian state and financial ruin in the guise of "helping people."   The idea that a central government is supreme in all things contradicts both the spirit and letter of the Constitution.   The Founders's greatest fear was not war, currency, succession or foreign powers.  It was stifling the power of the State vs the individuals AND the states.  

Federal and state governments are entirely different creatures and much of our troubles stem from the Feds trying to act like states.  

knightowl77's picture

MDB the only case that is closed is that you are flat out completely wrong....

Neither of those clauses say what you say they do...Nor is that what the framers intended as you can tell from the Federalist papers....The entire reason for the Constitution in the first place was to LIMIT the Feds and keep power in the states and with the people...It is exactly your liberal socialist interpretation that has allowed this country to get so far out of whack....You and Nancy Pelosi should be ashamed of yourselves...

Grinder74's picture

Yum, yum this poodle is deeeelish.

MeelionDollerBogus's picture

Enjoying the high life I see!

Just cat food for us proles :D

cranky-old-geezer's picture



MDB's comment eliminates any dobut he's a full-fledged communist advocating total communism in America.

In the 1950s MDB would have been arrested and tried for treason, but today his views would be praised by the government.

And by the way, according to MDB the president and everyone in congess should have been arrested and tried for treason back in 1913 for adopting an alternative currency, federal reserve notes, in place of US dollars issued by the government.

As for his other points, any communist can take portions of the constitution out of context and twist them to fit their communist thinking.  

Interstate commerce is regulating commerce between states, not commerce within a state.  The constitution gives no authority to the federal government to interfere with commerce within a state.

The general welfare clause says promote, not control, and certainly not steal wealth from all the people and give it to specific people.  There is no authority in the constitution for tax-funded welfare programs.  Zero.  None. 

And while we're at it, there's no authority in the constitution for a national income tax, not even the 16th amemdment.  The 16the amendment gives the federal government authority to tax incomes of Washington DC residents and residents of other federal territories, not residents of the 50 states.

Of course MDB doesn't know any of this constitutional background.  He's just a clueless communist twisting the constitution out of context.

Michael's picture

Southern Poverty Law center

Southern Poverty Scum center,

there, fixed it for ya.

MeelionDollerBogus's picture

NOT seeking a better currency and printing US dollars as Bernanke has done is open terrorism against ALL people especially the jobless and the elderly.

Interstate commerce clause doesn't apply to any business if there's no interstate commerce for that business.


dick cheneys ghost's picture

Dont tell JPM/GS...............

Buzzworthy's picture

Very interesting and thought provoking, Mr. Smith.  One correction, however, the Constitution is the child of the States, not the other way around.

NotApplicable's picture


What's funny is the rest of the paragraph makes that perfectly clear.

Rossalgondamer's picture


Thanks for that!

A 1001 times they utter the Sun is small and close-by - yet still not true.



lolmao500's picture

Step 1 : stop looting the population like this lady :

The comptroller of Dixon was arrested and charged Tuesday for allegedly stealing more than $30 million in city funds since 2006 to furnish her lavish lifestyle, which included a horse farm, seven tractor-trailer trucks and a $2.1 motor home, according to a federal complaint.
Since last fall, it is believed that Crundwell embezzled more than $3.2 million, the complaint said. She used only $74,274 of the funds for city operations. The rest was used for her own expenses, including approximately $450,000 for her horse farm, $600,000 in online credit card payments, and $67,000 to by a 2012 Chevy Silverado pickup truck.

Step 2 : enforce the goddamn laws... like Louisiana has been starting doing :

Step 3 : tell the feds to stick any unconstitutional crap they try to make the states pay for where the sun don't shine.

Step 4 : promote alternative currencies like gold/silver back currencies.

Step 5 : enforce the goddamn mortgage laws! No note : mortgage forgiven!

dracos_ghost's picture

A $2.1 motor home? I was a photo right.

Where the f$%^ were the auditors.

Swarmee's picture

Regarding your step 1 I have been mulling over a potential change to how charges are filed against those who embezzle tax funds. It goes something like this, given that the funds come from all taxpaying citizens of the State, and that those funds are intended to provide various services to the citizens of the state, then when one steals taxpayer funds they are not committing a single crime, but rather multiple crimes, in direct proportion to the number of citizens affected. Thus the woman in your example should be charged with the top level crime (grand larceny?) as well as a number of smaller theft charges equal to the number of citizens affected. There is an argument to be made as to whether you count the tax payers or the tax beneficiaries, but either way the number will be quite large. Further such a law should also stipulate that being found guilty of one count translates to gilty on all counts. So in your example if Crundwell were found guilty then she would face penalties for one count of grand larceny, and e.g. 200,000 counts of petty theft for stealing the equivalent of $16 from 200,000 people. That way the penalties stack and become effective life sentences every time you steal from taxpayers. If those who commit fraud and abuse against the legitimate tax payers of the nation were faced with the near guarantee of a life sentence if found guilty then perhaps it would actually dissuade the crime more effectively.

Just a thought experiment but I'd be interested in hearing other's thoughts on why this may or may not work, if it has been tried, or what the greater ramifications might be.

overhere2000's picture

Need to add nullifying or greatly reducing onerous and burdensome federally mandated Intellectual Labor agreements (copyright/patent cartels). 

Dr. Engali's picture

All good stuff but none of this will happen until the dollar gets wiped out. As long as the dollar is around states and lobbyists will have their hand out.

JW n FL's picture



I guess, 1 or is it 2 years after.. how many states.. push to be a lil more independent...

it is safe to sound off on the issue..

I love traders.. until there is a multiyear trend line there is NOTHING! LOL!!

It comes from having to pitch to people who want PROOF.. and if you don’t have PROOF you don’t have a deal.

You can always tell the good help from the bad help by the way they live their life away from trading because it all bleeds over!


How are those multi-year trend lines working out for you?

Let me guess..

Down?? 3% 2% and change is what I was really thinking but I rounded…

Wait! Now is when the trader(s) step in with a chart of a lone wolf account that they manage for someone else.. who provides explicit direction for the account.. that they (the traders have NO say what so ever in).. but they show the prize winner! Like it is their own.. and push the sales line that!! If you could trust them! To do what they want!! Verse what the market is saying.. that YOU TO COULD BE A WINNER! LOL!!

And no matter which chop shop you go too! It’s the same!

The reason the larger shops do better! Is because they can lose the sale with one scumbag and then sick another scumbag on you with some winning numbers… in things you like!

And the sale of potential client information!

Any way!

That’s my rant on the 2 and 20 crowd! LOL I can remember when it was 10 and 50%!! LOL!!



I can make any chart say anything I want..

the question is what do you want it to say?? onc eI know that.. I can make you happy! and thusly Gamble with YOUR MONEY! LOL!!

Disclosure.. I am nor have I ever been a sales man or trader in the since that the above are!

Pure Evil's picture

The best thing for the states would be to succeed from D.C. now, why wait for Federal collapse.

Grinder74's picture


Your car's black box has just reported this posting to #AttackWatch


Please continue on your way (for now)

Stuck on Zero's picture

Parable of the Sewer Pipe


Our glorious little city needed to put in a new sewer line.  The cost was estimated at $1M.  The funds were available from sewer/water fees and so a request for bids was let out.  Suddenly someone spotted a notice for a Federal government grant that would cover the cost.  So far so good.  The city made inquiries and started the long process of securing the Federal grant.  There were lots and lots of forms to fill out, certifications, requirements to fulfill etc. etc. etc.  A preliminary acceptance was granted but there was more paperwork to do.  Several people were hired to work out the details.  It took several years to secure the funding.  Meanwhile clogs, backups and emergency repairs were adding to the costs.  Finally, the money came ... but with lengthy requirements.  Depth, diameter, size, materials, cover, trenching, safety, unions, minority hiring, inspections, ad nauseum.  Eventually a request for bids was let out.  The lowest bid exceeded $11M and there were only two bids.  All the local contractors did not want to deal with the issues.  The sewer was finally replaced with the Federal government picking up half the tab.  Total cost to the city was over $7M. 



NotApplicable's picture

So... it's a win-win then, right?

krispkritter's picture

That's one way to ruin a good sewer, put the gov't and politicians into it...

l1b3rty's picture

There is no reason these states cannot just start issuing their own currencies...except the gravity of tyranny... 

l1b3rty's picture

There is no reason these states cannot just start issuing their own currencies...except the gravity of tyranny...