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 Replies: 21 / Views: 2,622 |
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Moderator
 United States
188770 Posts |
Mistakes made on both sides and lots of evidence not made public yet. Mix in the usual conspiracy laden rumours and the truth is obscured. A "wait and see" is the best course of action on this one!  |
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Valued Member
United States
85 Posts |
"The Justice Department had decided that the coins, many of which bear the familiar symbol of Lady Liberty and the phrase "TRUST IN GOD," were being illegally marketed as government-sanctioned currency, according to the sworn affidavit of an FBI agent."
If this stands as being true, then the government has full right to stop any and all makings of these coins. I do believe that you can make/mint your own coins but only as novelty. In no way can you say that they are government sanctioned and still believe they won't do a thing against you.
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Moderator
 United States
6563 Posts |
The coins have $10 Dollars on them and it's not government issued money.
I see no difference in this then if they printed money that said "Trust in God". It's money that they "minted" with the sole intention of passing off as legal tender thus disrupting the flow of things
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Valued Member
United States
157 Posts |
I gotta admit, though, it's a pretty good looking coin. But what do you give in change for one of these? Cigarettes?
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Pillar of the Community
United States
615 Posts |
It is my understanding they got business to start taking them as currency, which I think is still legal under coin act of 1965. Private currencies are legal, but they aren't legal tender for debts. As long as they don't claim them to be U.S. coins or legal tender, then I don't know what case the government has. Dollar isn't a U.S. only currency. There a lot of countries that use the term dollar and the U.S. wasn't the first. Anyone that thought those were legal currency is an idiot and sometimes you just have to let idiots suffer for being idiots.
All of that said, it was a very sweet deal for the minters. High margins aren't illegal. If they were Coke/Pepsi would be in big trouble... look at their margins on sugared water.
-SWUSC
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Pillar of the Community
Canada
965 Posts |
I don't believe that they tried to ever market these at government-sanctioned currency. I had always seen it to be an alternative currency that is only valid as a barter, and even then, only when both parties agreed to use it a such. While they are walking a very fine line, I don't see it as illegal (yet).
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Valued Member
United States
58 Posts |
The U.S. gov't knows how to fairly apply the laws AND what is in our best interest so we should just let them sort it out.  It will be interesting to watch. At the least they should either charge him with a crime or return his seized assets. I find it interesting that you do not see these pieces at coin shows. I did pick up a oz. $20 piece at the Milwaukee show last year from the LibertyDollar table. Neat concept. I love to see folks mix it up with the gov't.  |
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Valued Member
United States
128 Posts |
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Valued Member
United States
228 Posts |
There is an article in the Idahostatesman.com newspaper about this. Suit filed in Idaho over Liberty coins. I couldn't figure out how to post the link. "At the GOP state convention this month, Idaho Republicans voted to abolish the Federal Reserve System and return to the Gold Standard." What does this mean?  Fishnwidow link fixed
-GO |
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Moderator
United States
188770 Posts |
It means what the Republican Party of Idaho has chosen to support and promote this at the national convention. http://www.idahostatesman.com/newsu.../410950.html"The state party's platform committee voted overwhelmingly Friday to add to state platform language supporting abolishing the Federal Reserve System and pegging the dollar to gold and silver." |
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Bedrock of the Community
United States
12437 Posts |
It means that Ron Paul supporters hijacked the Idaho convention and supported something that has no chance of actually happening.
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Pillar of the Community
United States
5318 Posts |
Quote:
The state party's platform committee voted overwhelmingly Friday to add to state platform language supporting abolishing the Federal Reserve System and pegging the dollar to gold and silver. I can only guess there must be enough popular support for that idea to get politicians behind it. If there's anything worse than a bad idea from the top, it's one that has popular consensus-- argumentum ad populum. Certainly, there are rather obvious problems, but would it be solved by pegging our currency to wildly fluctuating gold/silver? One only needs to review the late 1800s to see the chaos behind a bimetal currency standard. I find the current finance/market/banking problems so complex that I won't assume to offer a solution. I'll just say we're now paying for poor fiscal foresight and an abuse of badly securitized credit, ie we had it coming. I might also suggest two professors who have written some good observations: Robert Shiller of Yale and Nouriel Roubini at NYU. |
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Pillar of the Community
United States
6326 Posts |
When seemingly intelligent people are given a platform, and their "looneyness" isn't immediately known, many people will temporarily come on board with an "idea" put forth until a spotlight of mass public scrutiny and logic reveals faulty thinking!!........errr...I always say !.....  Edited by eaglefoot
06/25/2008 08:38 am
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Pillar of the Community
United States
812 Posts |
I believe the theory behind Liberty Dollars is based on the barter system.
It is still legal for someone to take a 1 oz. silver round and trade it to someone else for an item they have if they both agree to the trade. That is the whole idea here. Merchants who accepted Liberty Dollars were indicating that they would accept them in trade.
In my opinion, the government was seeing a threat where none existed and was not all that concerned with the appropriateness of its actions. (Perhaps a recurring theme with the current administration?)
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Pillar of the Community
United States
1984 Posts |
Quote:
It is still legal for someone to take a 1 oz. silver round and trade it to someone else for an item they have if they both agree to the trade. That is the whole idea here. Merchants who accepted Liberty Dollars were indicating that they would accept them in trade. Then they should have been called Liberty Trade Units, or Liberty Barter Units. And how did the merchants value the Liberty Dollars--was it in pounds of butter or parts of sheep or how much they could sell the silver for in US Dollars? I'm hoping to see all the confiscated ones melted down and the precious metals returned to Liberty after they agree to eliminate reference to 'dollars' and to do what everyone else who mints PM rounds does--state the amount of silver/gold/platinum in the round or token and it's fineness along with any other purely decorative design. The only reason to make the 'Liberty Dollar' look like they are US money is to market them as an alternative to US money--and to make a point which may or may not be subsumed by the profit motive of the 'Liberty Dollar' creators. While their political speech is protected, the minting of Dollars to be marketed as an alternative to the US dollar presents a thorny problem. Even if they were explicit in explaining their understanding that it was legal to own 'Liberty Dollars' but illegal to use them, they were still advocating their use. In my opinion, the Liberty people's biggest miscue (a supporter might call it their biggest provocation on behalf of Freedom) was in minting the pure copper L$1; had they stuck with precious metals, they might not have run into so many problems with the gummint. |
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Posted 06/20/2008 8:18 pm
