An independent panel of experts commissioned by the British Conservative Party leader, William Hague, recently came out against Great Britain adopting the European currency, the euro, to replace the pound sterling. The panel surmised that surrendering the national currency carried economic risks as well as would inevitably lead to closer political union with the other European Union member nations. Sixty percent of Britains do not wish to convert to using the euro and only 24 percent wish to convert.
On the surface this information doesn’t seem to relate to the cause of Southern Independence, but there is a lesson to learn here. When the South regains its independence, what will we use for money? The U.S. dollar? Panama was using U.S. currency as their money and found out how quickly their economy could be controlled. When the United States went after the Panamanian General-turned-Dictator Manuel Noriega, all flow of U.S. paper money was cut off from Panama and their economy suffered due to a lack of physical cash being available to the people for purchasing goods (food, clothing, etc.).
If the South is to avoid the possibility of excessive influence similar to what Panama experienced, it will have to have its own currency. When Ireland gained its independence, they saw the wisdom of having their own currency. Ireland used the creation of their own currency as part of a plan to establish as clean a break from the English as possible. The negatives of potential U.S. control of the Southern economy outweigh what few advantages that could be realized by using U.S. money.
Ever since the United States went off the gold standard, the U.S. dollar has been backed by "the good faith and credit of the United States." This means less and less as time goes by, especially with the tremendous debt that is continuously growing. Dixie must look to establishing its own currency and back it with gold.
Some may not see the need for going to a gold standard, but the simple fact is that governments/nations rise and fall, but throughout history the view of gold as a highly valuable commodity has persisted. Granted the price of gold fluctuates, but it is considerably more stable than the "word" of any government, which can lose its value over time (or even in a second, based on political expediency). Remember, at one time the British pound was the world’s standard. Great Britain didn’t get overthrown or collapse into ruin, but the pound no longer rules the markets of the world.
Establishing a government and obtaining the gold reserves to back a Southern currency is going to be a tremendous feat and might tempt many to copy what the U.S. does now. That is a quick fix that will lead us down a road to financial ruin such as the U.S. is rushing toward. Also, establishing a separate currency is imperative to help establish our national sovereignty and to be taken seriously by the nations of the world.
The general Southern economy, along with the traditional view of free enterprise in the South, is, and should continue to be, strong enough that it could very well help make the "Southern dollar" the worlds benchmark for currency rather than the U.S. dollar. Especially if Southern dollars are backed by gold. There has been plenty of talk about gaining Southern independence, how to re-establish a republic of republics like the founding fathers of the United States did, and other issues such as immigration, voter’s rights and a new, fairer system of taxation. All these issues will be put at risk of being moot if a sound financial system is not put in place from the beginning, and maintained. Economic ruin brought down the Soviet Union and could bring down the South, if Dixie is not set on a sound financial foundation.
Jeff Adams
September 26, 1999