Democratic leaders are now advising the President to "Go Big" in his jobs speech to Congress next Thursday, after Republicans snubbed him for their own debate Wednesday. Most intriguing is the potential introduction of an "Obama Dollar" Wednesday evening, as an emergency measure unilaterally enforced by the executive branch. Using discretionary funds already appropriated to the Department of Homeland Security, the Secret Service will oversee the issuance of the new currency, which will have the same hi-tech safeguards against counterfeiting currently in use for Federal Reserve Notes.
The Obama Dollar effectively creates a shadow economy consisting of a network of farmers and infrastructure volunteers who all agree to trust each other. Anyone who wants will be put to work on projects in industries such as housing, clothing, transportation, and renewable energy. Obama Dollar expenditures will be balanced to create a self-contained perpetual circulation, using as input natural resources held or recovered by the federal government. No tax dollars will be spent except in relation to issuance of the new currency. Like Federal Reserve Notes, the Obama Dollar will not be backed by gold or any other precious metal.
For a preview of some of the projects to commence immediately, see the Venus Project web site.