In Ron Paul Coins, Federal Agents Don't Trust (WP)

If the spot price of silver is $30 next year, can I buy all of your $20 Liberty ounces for $20 each?

This is why the Liberty Dollar is described as "inflation proof." This happened recently when the dollar fell to the point where an ounce of silver exceeded $10 spot. For the cost of a re-minting fee, you could exchange your $10 one-ounce Liberty Dollars for $20 Liberty Dollars. Holders of the warehouse receipts didn't have to do anything, since the certificates were title to a specific weight of silver.

In other words, “no, I wouldn’t take that offer.” Sorry it was so confusing for you.

However, you can still spend an American $20 bill from 30 years ago at face value, and nobody’s going to offer you an offset for the massive inflation that’s taken place since the bill was printed, with or without a re-minting fee.

these coins become fraudalent when they put dollar denominations and "USA" on them.

Why? Whom did it defraud? Liberty was always VERY clear that it was a privately minted medallion that was not the official issue of the US government. On the contrary, their very reason for existence -- their selling point -- was that this is NOT the fedgov's currency. They could hardly have been more clear on that point.

Why has NO ONE complained that they bought or took a Liberty dollar unknowingly thinking that it was issued by the fed gov? Because that someone would have to be lying or so incredibly stupid that they need a guardian to handle their money.

the Paul coin folks pushed the envelope of the fraud law and now face the consequences.

You know that Ron Paul had nothing to do with this outfit, don't you? And do you really think that anyone could think that a COPPER dollar with RON PAUL's face on it was official government money?

I support folks who want to use gold or silver as currency--they just need to play by the rules.)

Name one rule that these people broke. What law says that you can't put a number, a dollar sign, the word dollar, or the letters "USA" on your currency?

The tokens are clearly not U.S. currency and do not purport to be such. This company has pursued the same line of business for years without Federal intervention Only a fool would think otherwise, and it is not the business of government to protect people who are foolish from the results of their acting foolishly. The raid on Norfed was on the same level as the recent indictment of Bernard Kerik, a blatant attempt on the part of the Administration to influence the outcome of the Republican primaries.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.