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Posted on 02/13/2003 11:08:05 AM PST by BlackJack
A small company in the Ozarks is offering business the opportunity to bring Silver Money back into circulation, and has chosen NORFED’s Liberty Dollars for its vehicle. Ozark Monetary Services of Berryville, Arkansas, has created a program that ensures that any business that accepts Liberty Dollars cannot lose money for doing so… and it’s gaining popularity across the country, with some potentially heavy hitters looking it over closely.
OMS Spokesman David Cato confirms that the company has had discussions with a couple of nationally known marketing giants, but declined to offer specifics.
“What we’re doing is promoting the program to all businesses, and it’s so simple that it’s basically a no-brainer,” says David. “Any business that signs up for the program agrees to accept Liberty Dollars, and return them to their customers in change.
This results in two things happening: first, the customer will in all likelihood return to the store to spend the money again, and other customers who hear about the new money will come to learn more and get some for themselves. For each Liberty Dollar given out in change, the merchant retains a dollar in Federal Reserve money, what we’re all used to.”
Asked about the possibility of merchants being overwhelmed by Liberty Dollars, which can be traded with customers, but can’t be deposited to most banks or used to pay government debts, David explained, “That’s what the OMS Program is all about; anytime they get too many to keep in local circulation, OMS will buy their Liberty Dollars back from them at full face value.”
The community benefits, as well, since OMS and others who promote the Liberty Dollar will occasionally offer the local public the opportunity to exchange their regular money for Liberty Dollars at a discount, gaining as much as ten percent in spendable value on the amount they choose to exchange!
Christmas and other holidays, as well as graduation time, are likely candidates for the special exchanges. The result is an increase in sales, and thereby an increase in profits, for those businesses who participate in the program, and there are even ways for merchants to purchase them at discount in order to make even more money while making change.
Liberty Dollars are paper “Silver Certificates” which are backed by silver, and there’s even a solid silver ten-dollar “Silver Liberty” piece. Merchants subscribing to the program can accept either the Silver Liberty, or the Liberty Dollar Silver Certificate, which is similar to the “bills” we’re accustomed to and more easily carried around. Either way, customers are almost certain to return to where they got the new money when they need something that merchant sells, so customer loyalty is a direct result of the program.
As for cost, there isn’t any. Merchants can sign up without any cost, and enjoy all of the benefits and guarantees, which are made in writing.
“This isn’t about making money,” says David, “although that’s one benefit of it, and the merchants who participate will see some pretty impressive increases in their sales and profits. What it’s really about is getting real value back into the hands of the American People, and making that value an exchangeable commodity in today’s marketplace.”
Interested businesses can contact OMS at 877-561-7263, or by email at:
alfii@cox-internet.com. OMS is a spin-off and partner of ALFII.com, the online financial-privacy club that offers alternatives to conventional banking, even down to an anonymous MasterCard and a way to replace your existing checking account.
Well, Spot Silver (Bid) is at $4.52 as I post.
So you still just have a promotional token whose bullion value is less than half of face value.
Did you get to #42 yet?
It's not the intrinsic value of the silver that is the main issue here, it's usefulness as currency.
If the intrinsic value of a given commodity is higher than its face value, then it is not useful as circulating currency. This is why the face value of the Silver Liberty is $10.00, instead of a daily-fluctuating value that happened to be $4.52 earlier today, and why you don't get $1 Silver Eagles in change at McDonald's.
That's why the US Mint switched from pure copper to copper-plated zinc for the penny. It was getting too close to the point where you could change a dollar for 100 pennies, then melt them down and sell the resulting slug of copper for $1.20.
And a consistent fixed value also reduces the transaction friction making it easier for silver to circulate in concert with Federal Reserve Notes. The vendor can simply enter $10.00 in their register, rather than having to go look up the current market price of a 5,000 ounce bar of silver in New York, which is what the spot price represents.
Alder Gold, which has the best prices online I've seen for metals, has $5.35 an ounce for a 100-ounce ingot.
And at least the vendor is getting $5.00 in intrinsic value in the transaction, which has the potential to increase in value over time, as opposed to $10 worth of monetized government debt as with a Federal Reserve Note, on which we owe interest to the Federal Reserve Bank that issued it.
In our little town, they use "Monty Bucks." These are checks on the bank, and spend just like money. They are used as prizes and premiums. When we first moved in, we got 25 of them.
Oops. We got 25 of them as a gift from the "Welcome Wagon."
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If you're asking which I'd rather hide under the mattress for 30 years in case of emergency, paper or silver, the answer is silver of course.
But you gotta admit, these tokens are only worth their bullion value, NOT whatever denomination is stamped into their surface.
Because a note is a promise to pay. You can't eliminate debt by issuing more debt.
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