{"id":847,"date":"2013-03-22T17:49:23","date_gmt":"2013-03-22T17:49:23","guid":{"rendered":"https:\/\/karlwhelan.com\/staging\/?p=847"},"modified":"2015-01-03T22:29:47","modified_gmt":"2015-01-03T22:29:47","slug":"vermont-exit-from-the-dollar-would-have-little-impact","status":"publish","type":"post","link":"https:\/\/www.karlwhelan.com\/vermont-exit-from-the-dollar-would-have-little-impact\/","title":{"rendered":"Vermont Exit from the Dollar Would Have Little Impact"},"content":{"rendered":"

Following Landon Thomas Jr\u2019s New York Times report<\/a> \u201cFor Euro Zone, a Cyprus Exit Would Have Little Impact\u201d, we\u2019ve been assessing the impact of an exit from the dollar zone of Vermont.<\/p>\n

A former staffer at the International Musing Fund told us \u201cThere have been too many bailouts in the United States; it\u2019s time to remove the air bags and we need to start with Vermont.\u201d He favoured a plan in which Vermonters would see their bank deposits redenominated into a new currency to be known as the maple (with smaller denominations known as Vermont coppers<\/a>). Currency controls would be introduced that would prevent them from moving their money out of Vermont.<\/p>\n

\u201cThis is not a Lehman,\u201d the former staffer mused, when asked about the impact on the rest of the U.S. economy. \u201cI mean, Vermont accounts for barely 0.2 percent<\/a> of U.S. GDP. To be honest, unless you lived in Vermont, you\u2019d barely notice this new currency thingy.\u201d<\/p>\n

Others worry not so much about the effect on the rest of the US of Vermexit (as it has become known) but about the effect on the citizens of Vermont itself. \u201cI guess they\u2019d still have skiing and stuff but you would see genuine poverty in a US state,\u201d said Angelo Gabrielo, an analyst at Humanix, an investment bank.<\/p>\n

Unconfirmed reports suggest the Governor of Vermont is in Ottawa for emergency talks with the Canadian government. Asked about the existence of plans to toss Vermont out of the dollar zone, a Canadian government spokesman said \u201cI have no idea what you\u2019re talking aboot, eh?\u201d. Federal Reserve and U.S. Treasury spokespeople said \u201cNo comment\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following Landon Thomas Jr\u2019s New York Times report \u201cFor Euro Zone, a Cyprus Exit Would Have Little Impact\u201d, we\u2019ve been […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[31],"tags":[],"class_list":["post-847","post","type-post","status-publish","format-standard","hentry","category-euro-crisis"],"_links":{"self":[{"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/posts\/847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/comments?post=847"}],"version-history":[{"count":4,"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/posts\/847\/revisions"}],"predecessor-version":[{"id":1404,"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/posts\/847\/revisions\/1404"}],"wp:attachment":[{"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/media?parent=847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/categories?post=847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.karlwhelan.com\/wp-json\/wp\/v2\/tags?post=847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}