Posted on 11/16/2007 10:13:07 AM PST by KentTrappedInLiberalSeattle
EVANSVILLE, Indiana (AP) — Federal agents raided the headquarters of a group that produces illegal currency and puts it in circulation, seizing gold, silver and two tons of copper coins featuring Republican presidential candidate Ron Paul.
Agents also took records, computers and froze the bank accounts at the "Liberty Dollar" headquarters during the Thursday raid, Bernard von NotHaus, founder of the National Organization for the Repeal of the Federal Reserve Act & Internal Revenue Code, said in a posting on the group's Web site.
The organization, which is critical of the Federal Reserve, has repeatedly clashed with the federal government, which contends that the gold, silver and copper coins it produces are illegal.
(Excerpt) Read more at politicalticker.blogs.cnn.com ...
This is from the original email that reported the incident. I don't know, but this is what it said.
" But to make matters worse, all the gold and silver that backs up the paper certificates and digital currency held in the vault at Sunshine Mint has also been confiscated. Even the dies for mint the Gold and Silver Libertys have been taken."
I love your writing over at Daily Reckoning. It’s the highlight of my business day.
It won't.
But gold in the possession of the common man will impede the transfer of wealth from them to the banks as this collapse proceeds.
Better keep the bulk of it off shore. This country may become as friendly to gold and silver as the FDA is to alternative cancer treatments.
And for a very similar reason!
Years ago, Dr. Michael Ledeen showed up on FR, and I ended up having a wonderful e-mail correspondence with him about the causes of World War I and the failures of our foreign policy community since World War II.
You never know who you're going to meet on FR.
Or who is lurking!
Why are liberatarians always in money schemes? Now I hear scammers used Ron Paul’s website on his “one day contribution” event to launder stolen credit card numbers.
Now this.
I guess I’ll add a third leg to the Libertarian Party Platform: Drugs, Hookers and taking others money.
Sounds like your typical mainstream government to me.
LOL
Cite?
Maybe you can site in the Constitution where only unbacked paper money can be printed as legal tender, ie, ink.
Article I, Section 8, Clause 5
The Congress shall have Power:
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.
I see nothing in the Constitution which prohibits a bimetallic standard.
I see nothing in the Constitution which prohibits a bimetallic standard.
Does "coins" sound like paper money to you? Btw, what does a one dollar paper bill weigh compared to a 100 dollar paper bill?
Was there some secret code writing describing them being “debased” I missed in there?
If you want debased, just look to the FRN...
The government just got their ass handed to them in a big IRS case in NV revolving around the use of their own legal tender gold and silver coinage (Gold and Silver Eagles) for payment.
Besides a good opportunity to take a cheap shot at Paul, it’s a chance to try and stem the rapidly eroding fiction of the FED paper, they’re getting a little frantic...
Yes. Putting 50.00 dollars on a one ounce gold coin is fraud on the people. They also say it is legal tender to boot. That is after the fact the the U.S. Mints just charged you 300 dollars and UP for it.
I said: I see nothing in the Constitution which prohibits a bimetallic standard.
You conclude that I support the emission of paper currency, and that I find a constitutional warrant for this practice. Your conclusion is not supported by the discussion.
In US economic history, a bimetallic standard refers to both gold and silver coinage serving as legal tender. In 1873, by Act of Congress (with a long story that I won't go into), the US was placed on the gold standard. Silver coin, while still minted, was effectively demonetized.
By contrast, the Act of April 2, 1792 (enacted by several of the same men who were instrumental in obtaining the adoption of the Constitution by the several states) established gold, silver, and copper coinage standards. A gold eagle ($10 gold piece) was defined as 247.5 grains of pure gold. A dollar was defined as 371.25 grains of pure silver. And a cent was defined as 11 pennyweights of pure copper. These coins were minted in alloy; but the definition of the eagle, dollar, and cent was dependent upon the respective gold, silver, or copper content.
Does this sound like an argument for the constitutionality of paper money to you?
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