Liberty Dollar Creators Arrested

[Kevin_Kennedy]

Four people have been indicted for unlawful coin operation in U.S. District Court for the Western District of North Carolina.

The President of Liberty Dollar, Bernard von NotHaus, 65, formerly of Evansville, Sarah Jane Bledsoe, 42, and Rachelle L. Moseley, 34, both of Evansville were indicted, along with William Kevin Innes of Asheville, NC.

Liberty Dollar indictments made - 14 News, The Tri-State's News and Weather Leader-

Apparently the government doesn't think it's fraudulent, worthless paper money can stand any competition from sound money.

 

[STAND4LIBERTY]

Apparently the government doesn't think it's fraudulent, worthless paper money can stand any competition from sound money.

Only if legal tender laws are kept in place, in the absence of such laws the legalized counterfeit garbage produced by the fed would die the ignoble death it deserves.

 

[editec]

Four people have been indicted for unlawful coin operation in U.S. District Court for the Western District of North Carolina.

The President of Liberty Dollar, Bernard von NotHaus, 65, formerly of Evansville, Sarah Jane Bledsoe, 42, and Rachelle L. Moseley, 34, both of Evansville were indicted, along with William Kevin Innes of Asheville, NC.

Liberty Dollar indictments made - 14 News, The Tri-State's News and Weather Leader-

Apparently the government doesn't think it's fraudulent, worthless paper money can stand any competition from sound money.

Their money was sound?

In what way exactly was it sound money, Kevin?

I read the article.

I see no indication that their paper was anything but worthless script.

 

[Kevin_Kennedy]

Four people have been indicted for unlawful coin operation in U.S. District Court for the Western District of North Carolina.

The President of Liberty Dollar, Bernard von NotHaus, 65, formerly of Evansville, Sarah Jane Bledsoe, 42, and Rachelle L. Moseley, 34, both of Evansville were indicted, along with William Kevin Innes of Asheville, NC.

Liberty Dollar indictments made - 14 News, The Tri-State's News and Weather Leader-

Apparently the government doesn't think it's fraudulent, worthless paper money can stand any competition from sound money.

Their money was sound?

In what way exactly was it sound money, Kevin?

I read the article.

I see no indication that their paper was anything but worthless script.

It's backed by or made out of gold and silver.

Liberty Dollar

 

[editec]

Liberty Dollar indictments made - 14 News, The Tri-State's News and Weather Leader-

Apparently the government doesn't think it's fraudulent, worthless paper money can stand any competition from sound money.

Their money was sound?

In what way exactly was it sound money, Kevin?

I read the article.

I see no indication that their paper was anything but worthless script.

It's backed by or made out of gold and silver

.

Liberty Dollar

Ah, I see.

The article was misleading then?

But let me ask you...since plenty of pcompanies already issue coins made of silver or gold, why do you suppose that those guys are in trouble?

And, why did the image on that article show us PAPER MONEY that they'd issued?

I suspect that they were not only issuing rounds of gold or silver, but paper "dollars" that they were saying was backed by gold or silver.


Because otherwise, there is no way in hell that they're be trouble, amigo.

If you or I choose to issue coins (aka rounds) of metal, the treasury doesn't care.

However, if we choose to issue paper spcies that preports to be backed by gold and silver, I suspect they're going to take a very dim view of it.

And upon reading the advertisment you sent me to, I found the language there slippery as hell, too.

What exactly are they selling?

Well sometimes it sounds like paper backed by metal and at other times it seems they are issuing metal rounds.

Update.

yeah, that's EXACTLY what they were doing, too


Issuing paper script that they calimed was backed by bullion


Read on:

The Liberty Dollar is superior money

Private Money is novel new product that is bringing millions of Americans together who are concerned about the money's loss of purchasing power, as examplified by higher gasoline and food prices. Through the use of beautiful artwork, an image of the Statue of Liberty, brilliant colors, serial numbers, silver foil, a hologram and superior counterfeit features on special paper, The Liberty Dollar is designed to solicit a response! And, voila! The number of concerned Americans using the new Libety Dollar has been growing ever since 1998. Over $20 million dollars has already been converted into Liberty Dollars, and as hard times ahead become painfully more evident, it is more important for you to protect your money.
The idea of the Liberty Dollar is to simply offer a proven, peaceful, and profitable solution to the steady loss of the purchasing power of your money. By converting your old, tired, depreciating US dollars into gold and silver Liberty Dollar certificates that are backed, insured, and guaranteed by a monthly independent audit, you have chosen to join thousands of other concerned American who are protecting themselves and our country from the US dollar and the posibility of a global financial crisis.

source

 

[Kevin_Kennedy]

Yes, that's what they were doing. They sold silver coins, and paper money that was backed by a commodity. Though after their warehouse was raided a few years ago I'm not sure if they still offered the paper money or not.

 

[xotoxi]

What is this thread about?

Sounds like some criminals were creating counterfeit money and encouraging people to use it. They should go to jail.

End of discussion. Next.

 

[Kevin_Kennedy]

What is this thread about?

Sounds like some criminals were creating counterfeit money and encouraging people to use it. They should go to jail.

End of discussion. Next.

Well it's not the end of the discussion, because they're not criminals. It also wasn't counterfeit money. It was a distinctly different currency from that which the federal government forces us to use, and it had real value as opposed to the worthless government-backed green paper and tin coins.

 

[RodISHI]

For a long time they sold gold minted coins. Backed by paper? news to me.

 

[Kevin_Kennedy]

For a long time they sold gold minted coins. Backed by paper? news to me.

Why would a gold minted coin need to be backed by paper? I'm not sure what you're referring to.

 

[STAND4LIBERTY]

What is this thread about?

Sounds like some criminals were creating counterfeit money and encouraging people to use it. They should go to jail.

Well maybe if they'd start by putting the PROFESSIONAL counterfeiters at the Federal Reserve in jail you'd have a point, however this is an example of not only a double standard but with a serious dose of irony thrown in too boot.

 

[RetiredGySgt]

What is this thread about?

Sounds like some criminals were creating counterfeit money and encouraging people to use it. They should go to jail.

End of discussion. Next.

Well it's not the end of the discussion, because they're not criminals. It also wasn't counterfeit money. It was a distinctly different currency from that which the federal government forces us to use, and it had real value as opposed to the worthless government-backed green paper and tin coins.

Only the Federal Government is allowed to coin and make LEGAL tender. You may want to READ the Constitution. States can not even make paper money.

 

[RodISHI]

For a long time they sold gold minted coins. Backed by paper? news to me.

Why would a gold minted coin need to be backed by paper? I'm not sure what you're referring to.

That is what I am saying they made gold coins... I had never heard of them selling paper..only gold and silver coins. If they are selling gold and silver I don't see where it should be a problem.

 

[RetiredGySgt]

A power given to the Congress by the US Constitution.

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

LII: Constitution

Private money is not LEGAL tender and is nothing more then a novelty worth no more than the value of the metal in the coins. Paper money is worth nothing unless one has a legal document establishing that the paper is worth some amount and backed by US money.

 

[xotoxi]

What is this thread about?

Sounds like some criminals were creating counterfeit money and encouraging people to use it. They should go to jail.

Well maybe if they'd start by putting the PROFESSIONAL counterfeiters at the Federal Reserve in jail you'd have a point, however this is an example of not only a double standard but with a serious dose of irony thrown in too boot.

If you're going to engage in a conversation, don't speak in bullshit.

 

[RodISHI]

A power given to the Congress by the US Constitution.

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

LII: Constitution

Private money is not LEGAL tender and is nothing more then a novelty worth no more than the value of the metal in the coins. Paper money is worth nothing unless one has a legal document establishing that the paper is worth some amount and backed by US money.

The last time I read through the liberty dollar site I recall they said it was a novelty. It is ridiculous that the federal government is taking these people to task for selling gold or silver that is measured out and minted.

 

[STAND4LIBERTY]

If you're going to engage in a conversation, don't speak in bullshit.

*WHOOSH*

Apparently you don't realize that federal reserve notes are essentially counterfeit money (that's ulitmately what fiat currencies are after all) nor appreciate the irony that while it's perfectly legal for the Fed to produce them they're arresting people for coining sound money (gold and silver).

 

[xotoxi]

A power given to the Congress by the US Constitution.

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

LII: Constitution

Private money is not LEGAL tender and is nothing more then a novelty worth no more than the value of the metal in the coins. Paper money is worth nothing unless one has a legal document establishing that the paper is worth some amount and backed by US money.

The last time I read through the liberty dollar site I recall they said it was a novelty. It is ridiculous that the federal government is taking these people to task for selling gold or silver that is measured out and minted.

They are selling Gold coin - 1/4 oz of gold - that is marked as a $500 coin. Today, since gold is $955.35 per oz (as per goldprice.org) that coins true worth is less than $250. And it will flucutate with the price of gold.

So, essentially, if you laid down four of these "$500" coins to pay for a plasma TV, the salesman than accepted these coins would be jipped by 50% when he tried to cash them in.

The same doesn't happen if you lay down 20 $100 US bills.

 

[xotoxi]

If you're going to engage in a conversation, don't speak in bullshit.

*WHOOSH*

Apparently you don't realize that federal reserve notes are essentially counterfeit money (that's ulitmately what fiat currencies are after all) nor appreciate the irony that while it's perfectly legal for the Fed to produce them they're arresting people for coining sound money (gold and silver).

Apparently you don't understand what counterfeit money is.

 

[STAND4LIBERTY]

They are selling Gold coin - 1/4 oz of gold - that is marked as a $500 coin. Today, since gold is $955.35 per oz (as per goldprice.org) that coins true worth is less than $250. And it will flucutate with the price of gold.

So, essentially, if you laid down four of these "$500" coins to pay for a plasma TV, the salesman than accepted these coins would be jipped by 50% when he tried to cash them in.

Only if the salesman is unaware of the current value of the gold contained within the coin (in which case he's kinda foolish in accepting the deal, right?), however it still has a real and lasting value, printing a number on it doesn't change that.

The same doesn't happen if you lay down 20 $100 US bills.

Actually the 20 $100 US bills is the fraud since due to inflation they'll always be worth less in the future and thus the longer said merchant holds those notes the less they are worth.... which is probably why you'd rather have that Plasma TV instead of the $100 US bills in the first place, huh ?