Posted on 03/22/2011 8:41:51 PM PDT by TheConservativeCitizen
Ron Paul and Sovereign Citizen types are going berserk about this pretty interesting currency case.
http://www.citizen-times.com/article/20110319/NEWS01/110319006/Liberty-Dollar-creator-convicted-federal-court
A man has been convicted and could face 25 years in federal prison on counterfeiting charges, for what the government describes as a form of domestic terror designed to destabilize US currency. Bernard von NotHaus is some kind of anti-fed type who has minted and distributed millions of “Liberty Dollars”: silver coins that are 100% backed by precious metals he owns and are meant to be a more stable alternative to the US dollar. He claims the Liberty Coins are a form of barter, and that their use is voluntary with the understanding its not real money, but the coins are marked with the words dollars, USA, Trust in God, and the $ sign.
http://www.silvermonthly.com/1459/the-strange-case-of-the-liberty-dollar/
A short video about the Liberty Dollar:
http://www.youtube.com/watch?v=eYGDVUb8MjA&feature=player_embedded
He started in the 90′s with warehouse receipts for silver he owned, the Secret Service investigated him, but since the notes were actually backed up by silver and the words “legal tender” were not used on the receipts, it was judged not counterfeiting. The problem began when he minted the coins and in an effort to help introduce them into general circulation made them somewhat resemble real money. Bernard von NotHaus states the coins constitute a voluntary bartering system with both parties understand the coins are not actual US currency, he claims his system is an alternative, not a counterfeit to the US dollar.
I think this case opens up some interesting discussion about the nature of currency. We can all agree that children trading baseball cards, or World of Warcraft players trading digital weapons and armor does not constitute counterfeiting despite both cases developing a complex and intricate barter system complete with supply and demand relationships, price inflation, and fluctuating exchange rates with real currency. At what point do we cross the line and an innovative barter system becomes counterfeiting?
PS: In case anyone wonders, I have never owned nor have had any financial stake in the Liberty Dollar, and would strongly advise a consultation with a lawyer, an accountant, and a federal agency before accepting or using anything that could conceivably be construed as counterfeit money.
You’ve got that right!
The FED was an idea of those who WANTED to be the THRID central bank of this country. They PLOTED and tried for a long time, until they were successful. Signed on Christmas Eve in fact. When CONgress itself was not in session, it was passed, without the general public being informed.
The idea that somehow this was all the GOVERNMENTS idea is bogus.
It is true that the idea of socialism and adoration of Mussolini was popular, fiat currency and its ability to steal the earnings of working people to buy votes with, was a temptation that the politicians of the day couldn’t resist. And to this day, the politicians still and won’t resist.
The CENTRAL BANK that was created, KNEW what it was doing. They WANTED this.
It took three tries, and now it is too late.
It is not a rumor. I saw the notice for comments on ZeroHedge about a week ago. They were looking for input on what metals to use. I don’t remember that nickels were mentioned, but it is reasonable to assume that is what they are going to have to devalue next.
I still find the old copper pennies in my hubby’s change, and have a good start on nickels.
It was also why Nixon had to abandon the gold standard, the War in VietNam. Now we have three wars!! Iraq, Afghanistan, and Libya! With a weak economy.
Yep, silver bullion coins are VERY pretty!!!
And that Liberty Dollar was a handsome coin. Not as gorgeous as the St Gaudians, but pretty!
And the TRUST IN GOD was a definite improvement!
LOL
Actually, when they confiscated gold in the first Great Depression, they did it in steps.
First, they front ran the public and started removing gold coins from the banks.
Then they asked people to turn in their coins, and gave them ‘gold certificates’ back!!!
THEN they SIX MONTHS LATER said, no you can’t exchange your ‘gold certificates’ for gold anymore. Here have some of this, federal reserve notes instead.
THEN they almost doubled the value of gold, and the people had HALF their earnings stolen from them, at the stroke of a pen.
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