Here is the "tails" side, large scale. 
Posted on 03/22/2011 10:33:23 AM PDT by RWB Patriot
This weekend, a North Carolina man was convicted of minting and circulating “Liberty Dollars” and “Ron Paul Dollars” that were valued based on the gold and silver they contained. The man, Bernard von NotHaus, now faces up to 25 years in prison and the forfeiture of $7 million worth of gold and silver that was taken by police in a raid.
The U.S. Attorney who prosecuted the case explains:
“It is a violation of federal law … to create private coin or currency systems to compete with the official coinage and currency of the United States.”
But what’s wrong with competition? As long as there’s no fraud or counterfeiting – which NotHaus has not been convicted of – I would think that individuals should be allowed to use whatever currency they want.
(Excerpt) Read more at stossel.blogs.foxbusiness.com ...
LOL! As compared to that worthless paper the private banking cartel creates out of thin air.
Okay - now drink a couple of beers and say that one out loud, quickly, three times... ;-P
As I recall banks issued their own demand notes in the US not that long ago. As far as I know, private currency is not illegal. It might be considered a security - and require SEC registration.
The USC (Art I, Sec 8) stipulates that Congress be vested in establishing weights & measures. Congress has written legislation that demands the Executive enforce those regulations.
"Who verifies the value of government money?"
The free market. As it should be.
“Who verifies the gold or silver content of a coin?”
I do, whenever I buy. The Feds’ money is worse. The last I checked, a penny was not copper and a dollar was made of cotton and linen.
I’d rather have the real deal. That’s not to say that this guy was doing something legal.
Joshua Abraham Norton (c. 1819 – January 8, 1880). He declared himself Emperor of San Francisco, got a lot of free stuff from the locals.
He should have called it "20 Zilbutmoriks" which is his own unit of currency measure, and he'd be skippy-free today.
The local currency in Ithaca, N.Y., is called "Ithaca Hours." They are bought with U.S. dollars and can be traded with local shops for products or services. The southern Berkshire region of Massachusetts calls its currency "Berk-Shares" and in Traverse City, Mich., the currency is called "Bay Bucks."
Nothing different than using casino chips.
Our government does not like competition and they do not want citizens able to chart their own destinies. Anything can be done to you as long as the feds attach “domestic terrorist” to the proceedings.
Mine a the metal and create coins that simply state, 1 OZ, .25 Oz, and make sure the purity is accurate. You can make them all day long.
Put pretty pictures of naked women on them, and trade them for food.
Just make sure you don’t call them money.
No it doesn't. It grants Congress power to coin money and prevents state legislatures from doing so. It says nothing about private money or foreign money. Private bank notes and foreign specie were almost the only money available for the first seven decades after the constitution was ratified. The South is called "Dixie" because the most trusted money was issued by Citizens Bank in New Orleans - a bank owned by a French family who printed their notes in French. Dix is the French word for ten.
We have had a number of private mints in the US throughout history but they were able to verify their metal content etc. Several states are considering minting their own coins as we speak. The GA legislature passed a bill that says you can pay any debt in the state of GA with gold or silver coins. I think competition is on the way.
Here is the "tails" side, large scale.
If one sells an old silver dollar coin for more than one dollar in paper money, does that constitute “competing with government money?”
The GA legislature passed a bill that says you can pay any debt in the state of GA with gold or silver coins.
Yeah, real odd:
No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.
No. US currency may have an intrinsic as well as numismatic value. Buying or selling something based on numismatic value is not illegal.
I guess they figured it was time to get back to basics.
Yeah, Zero is debauching our currency but they go after a guy who survives, capitalist style. Goes to tell what is going on.
2/5 of an ounce for $20. I know some were saying this was now a good deal with the price of silver. But you wouldn’t break even til silver hit 50.
Bernard von NotHaus (not his real name) was running a scam.
I quote from his now-defunct website:
Best Offer is to become a Liberty Associate for $250.
Why exchange Federal Reserve Notes (US dollars) on a dollar-for-dollar basis when you can get the Liberty Dollars at a discount and use them at a profit.
Want to earn money, do good and have more fun? Then become a Liberty Associate for $250.
You will immediately receive $100 Liberty Dollars and all your future currency exchanges will be at the special discounted Associate Rate that is posted at the top of the Liberty Dollar home page.
Plus you can earn a $100 Referral for every Associate you sponsor. Sponsor only two people and you are now up $50 and you are on your way to making a significant difference to our country and its money.
All three bonuses are also included with the Best Offer. Click here to become a Liberty Associate.
It's a classic combination of a Ponzi scheme and a multilevel marketing scam.
It's also unconstitutional.
Congress, and not this unelected clown, has the authority to coin money.
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