FBI raids Liberty Dollar office-confiscates Ron Paul Dollars

http://www.rabidquill.com/ ^ | Nov 15, 2007 | "BJT"

[weegee]

>> As you’ll have guessed, Liberty Dollar accepts fake government money for their genuine article.

That stuff's worthless, I'll take it off your hands. But it'll cost you...

[wideawake]

You all should read SJackson's excellent post 85 on some of these issues.

This says to me that 5% of that was backed by...nothing. This company is sitting on about $9.5 million dollars worth of precious metals, and they’re claiming its worth $20 million in legal currency. I’m not sure what the laws are, but if this were legal, it would be incredibly chaotic once everyone started jumping in to make their own currencies.

Basically, if these are indeed the underlying facts, what this guy is doing is operating an illegal bank that is violating not only every standard of ethical banking practice, but also every federal banking law.

[wastedyears]

***This is just the “powers that be” suppressing a growing economic market activity that threatens to undermine the people’s confidence of the Federal Reserve. Silver and gold are bad, dollars are good.***

Going by that, a carbon trading market would be a-okay.

[50mm]

The US Mint warning on Liberty Dollars can be found here (scroll down about half way):

US Mint statement

[mnehring]

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.

OMG, it is a pyramid scheme, LOL.. Didn't I say a long time ago that the type of people who would follow the cult of Paul were the same type that would sell Excel Long Distance and Amway and tell you how you can be rich by just 'helping your friends...'

[Perchant]

You mean it only took 12 of them to get to the gold and remove it from the depository within hours? Not exactly Fort Knox over there. It would have been great publicity if had taken the feds weeks to get their hands on the gold while bringing in heavy equipment, safe crackers, explosives and land mine detectors.

[underground]

PONZI

Hey, this sounds like a great business plan. You give me $250, and I'll give you $50 worth of gold that I say is worth $100. Of freaking course this is a scam. FBI raid or not, this guy is ripping off his customers and using the popularity of Ron Paul among gold investors to boost sales. If you want gold, buy gold. These coins are overpriced because of misleading stamps like "Trust in God" and "Negotiable" and "Dollar."

[Centurion2000]

True story, phony money. So says the U.S. Mint, which would like to remind Liberty Dollar users that since the United States already has its own currency, the only thing Liberty Dollars buy in these parts is a jail term.

Then I guess the US Mint better go after every single freaking MC/VISA gift card ever made. Those are effectively private currencies as well.

[Rb ver. 2.0]

“Going by that, a carbon trading market would be a-okay.”

If it heads in that direction, Algore will be hailed as the new Milton Friedman.

[lormand]

"does the liberty dollar?"

Here's the smoking gun...

"Liberty Dollar recently issued a "Presidential" Ron Paul Dollar in support of the Republican peace candidate. Now it asks peace-seeking Americans to start using the Peace Dollar and stop using the US War Dollar, as it finances the Iraq War."

"It's just your blind hatred of Ron Paul (frequently seen in armchair heroes) and your low intelligence that leads you to this."

If I have low intelligence, yet have the ability to easily dispute your non-points, where does that put you on the IQ scale?

"One thing I hate doing is wasting my time and effort arguing with fanatics.

I'm sure I'm in good company of "fanatics". Shall I post some unflattering comments about Ron Paul by Freerepublic's Head Fanatic?

You can have the opportuntity to call him a fanatic too if you like.

[Moonman62]

I wouldn’t think that hard currency would be discountable.

[wideawake]

See post 108.

That's about as sketchy as can be.

[mysterio]

Then I guess the US Mint better go after every single freaking MC/VISA gift card ever made.

No, those are ok. Better lobbyists.

[OCCASparky]

Oh, come on Petronski—everyone knows that L. Ron would NEVER do anything to hurt this wonderful country.../sarc

[Dead Corpse]

The US dollar is backed on the basis of the debt of the entire economy.

Borrowing against the future is not a sound bet. Gold, silver, oil, labor, ect... have never been worth ZERO.

If you think a century of bad spending and increasing debt load from unfunded liabilities is a good "history behind it's credit"... then I'm afraid I must question your veracity.

[SJackson]

Apparently this has been going on for awhile. The group filed a lawsuitagainst the Treasury Dept earlier this year, apparently contending it's barter currency. And it's possible this has nothing to do with the coin. I'd wait and see.

[RDTF]

I didn’t even know there was such a thing!

[Red Badger]

How is their paper currency, legal or not is in debate , any different than your check you give to the grocer?..............

[lormand]

Amway for Anarchists

[Petronski]

Discounting a hard currency is tantamount to giving it away. This guy doesn’t give away anything.