FBI raids Liberty Dollar office-confiscates Ron Paul Dollars

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

[from occupied ga]

Unintentional irony: my very favorite kind. ;)

Only to someone like you.

[CougarGA7]

I’m not a fan of RP either. It strikes mostly children and child blindness is a terrible thing.

[Dead Corpse]

A commodity-based currency is subject to manipulation far easier than our currency is today.

It is? How do you create more gold/silver/production capacity out of thin air? Or by just printing more money whenever you need it?

If you think China can't manipulate our currency, just wait until it starts off loading that Trillion dollars worth of our debt they are invested in...

[MEG33]

LOL!

[ejonesie22]

The check is a demand against the currency in an account.

[Red Badger]

Yes, the Congress has the power to coin money, but it’s not exclusive is it?...............

[MEGoody]

The trade of precious metals disrupts the US economy?

They were doing more than that, honey, and you know it.

[MEGoody]

You don’t suppose it has something to do with the credit card scam in Europe do you?

Who knows.

[SJackson]

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.

I'd wait and see on this one. If you note the press release, a case can be made they're offering an alternate currency. You point out the possibility of banking violations. And while I'm not suggesting it's the case here, there have been a couple cases where similar firms were engaged in money laundering.

[Attention Surplus Disorder]

Well, they are free to sell a slug of silver for whatever the market will bear. Calling them “dollars” of any kind is dicey, but issuing paper currency is well over the legal line, in my only partially-educated opinion.

[Petronski]

Second, the advertisements confusingly refer to NORFED “Liberty Dollar” medallions as “legal” and “constitutional.” However, under the Constitution ( Article I, section 8, clause 5 ), Congress has the exclusive power to coin money of the United States and to regulate its value. By statute ( 31 U.S.C. § 5112(a) ), Congress specifies the coins that the Secretary of the Treasury is authorized to mint and issue and requires the Secretary to carry out these duties at the United States Mint (31 U.S.C. § 5131). Accordingly, the United States Mint is the only entity in the United States with the lawful authority to mint and issue legal tender United States coins.

Under 18 U.S.C. § 486, it is a Federal crime to utter or pass, or attempt to utter or pass, any coins of gold or silver intended for use as current money except as authorized by law. According to the NORFED website, “Liberty merchants” are encouraged to accept NORFED “Liberty Dollar” medallions and offer them as change in sales transactions of merchandise or services. Further, NORFED tells “Liberty associates” that they can earn money by obtaining NORFED “Liberty Dollar” medallions at a discount and then can “spend [them] into circulation.” Therefore, NORFED’s “Liberty Dollar” medallions are specifically intended to be used as current money in order to limit reliance on, and to compete with the circulating coinage of the United States. Consequently, prosecutors with the United States Department of Justice have concluded that the use of NORFED’s “Liberty Dollar” medallions violates 18 U.S.C. § 486.

[Erik Latranyi]

How do you create more gold/silver/production capacity out of thin air?

The gold standard was based on holdings of gold. Hence, manipulation of how much gold you hold changes the value of your currency against others.

Besides, we have a de-facto commodity based currency.....it is based on ALL THE COMMODITIES the US produces.

[CholeraJoe]

It is in Evansville, IN. Sort of east of downtown. Still nothing going on at the Federal Building. Perps tend to stake out the building though, so the Federales usually “gear up” somewhere else.

[SwankyC]

I guess I pulled the short straw today. I get to deal with the children.

[SJackson]

disrupt the U.S. economy....The trade of precious metals disrupts the US economy?

Would it work, no, but note the press release in post 153. The intent was apparently for people to get out of American dollars in favor of Liberty Dollars to defund the government and end the war.

Yes, it's silly, but that's what they're selling.

[Erik Latranyi]

If you think China can't manipulate our currency, just wait until it starts off loading that Trillion dollars worth of our debt they are invested in...

That is more useless dribble that we have heard millions of times since abandoning the gold standard.

Europe can sink us. Japan can sink us. China can sink us. Blah. Blah. Blah.

If one sells, someone else will buy as our currency is still the world standard, regardless of what the liberal MSM is trying to spew today just because the value of the dollar has fallen.

[jas3]

Counterfeiting money is a crime.. Only a government can authorize the making of legal tender.. Yes I know that once upon a time individuals and banks could make their own money with out our nations permission to do so.. but that has not been the case since Alexander Hammilton fought duels.

Alexander Hamilton fought his last duel in 1804. United States Notes (characterized by a red seal and serial number) were the first national currency, authorized by the Legal Tender Act of 1862.

Huge numbers of people got ripped off so we formed a National Bank and only the Federal Reserve bank can legally issue money.

So now the only one ripping anyone off is the Federal Reserve. Ugh.

jas3

[Rockitz]

Putting “USA” on the coins was probably their fatal mistake. Other countries use the term “dollar” to describe their money so that shouldn’t be a problem.

[mnehring]

The intent was apparently for people to get out of American dollars in favor of Liberty Dollars to defund the government and end the war.

Can we just get it over with and call them Hippie Dollars?

[SJackson]

Ahh ok. Did the liberty dollar folks make the claim that these were legal tender? Again just like a gift card. You can only use it where it's accepted. I don't think that they claimed it to be legal tender. If they did then they deserve to be arrested primarily for stupidity

See post 153 and decide. IMO they're close, certainly an alternate currency, though they include disclaimers. If that's the issue, this is one for the courts.