Liberty Dollar raided, silver and gold confiscated - Page 3

Liberty Dollar raided, silver and gold confiscated

This is a discussion on Liberty Dollar raided, silver and gold confiscated within the Off Topic & Humor Discussion forums, part of the The Back Porch category; SelfDefense...that makes perfect sense to me....

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Thread: Liberty Dollar raided, silver and gold confiscated

  1. #31
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    SelfDefense...that makes perfect sense to me.
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  2. #32
    Member Array LastManOut's Avatar
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    Is The Liberty Dollar legal?

    Is The Liberty Dollar legal?
    Yes, The Liberty Dollar is absolutely 100% legal, lawful, and Constitutional! Legal opinions have been obtained by prominent attorneys that validate that the Liberty Dollar complies with all US laws and the Uniform Commercial Code.

    Legally, The Liberty Dollar is a warehouse receipt that guarantees that whoever is holding the currency has ownership of the silver stored in the insured warehouse. The $10 Certificate is backed by one Troy ounce of pure .999 fine silver, the $5 by a half-ounce and $1 by a tenth-ounce. The $500.00 gold certificate is backed by one ounce of pure .9999 fine gold.

    The Liberty Dollar is also a petition for a gold and silver based currency as specified by the U.S. Constitution, and thus protected by the First Amendment.

    Are there other alternative currencies out there competing with the Fed?
    Yes. It should be noted that 40 to 60 communities in the U.S. utilize their own money system. For example: Ithaca, NY has had national publicity on the use of its "HOURS" with the value of a Hour equal to ten US dollars. Thus, labor is fixed at ten dollars per hour as a standard. The Hour circulates throughout the community as money and is backed by local labor; which necessarily limits the currency to local use.

    The Ithaca program serves a good local purpose and many other communities have followed the example implemented by Ithaca. Parade Magazine featured a two-page article on the Ithaca Money on July 5, 1998, the day following Independence Day. This article went out to about 55 million people. People are becoming aware of other currencies and that you now have a choice.

    Convertibility.
    Exchanges of Liberty Dollar into US dollar will be available for all three forms: metal, paper and digital. Please send in your Silver Libertys and Silver Certificates to the Fulfillment Office in Evansville.

    Legal, according to the U.S. Treasury.

  3. #33
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    "Legally, The Liberty Dollar is a warehouse receipt that guarantees that whoever is holding the currency has ownership of the silver stored in the insured warehouse."

    Not any more...obviously.

    So if the currency is insured and the warehouse full of precious metal is insured also...will the insurance company now reimburse everybody that owns Liberty Dollars and now are unable to redeem them for precious metal....since the Gold & Silver has now been confiscated?

    I would doubt it so...it's probably really not "fully insured" otherwise folks would not be joining a class action against the govt. - they would simply get fully reimbursed for their losses (which were insured) and then the insurance company would go after the bullion that was confiscated.
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  4. #34
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    Quote Originally Posted by QKShooter View Post
    "Legally, The Liberty Dollar is a warehouse receipt that guarantees that whoever is holding the currency has ownership of the silver stored in the insured warehouse."

    Not any more...obviously.

    So if the currency is insured and the warehouse full of precious metal is insured also...will the insurance company now reimburse everybody that owns Liberty Dollars and now are unable to redeem them for precious metal....since the Gold & Silver has now been confiscated?

    I would doubt it so...it's probably really not "fully insured" otherwise folks would not be joining a class action against the govt. - they would simply get fully reimbursed for their losses (which were insured) and then the insurance company would go after the bullion that was confiscated.
    I guess we can only hope our fiat currency doesn't go by the way of the German Mark in the 1920s. Or we will all be scrambling like the LD Supporters are now.

  5. #35
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    By issueing a note whose value is measured by US currency secured by precious metals where they operating as an unregulated bank?

    If so then that could be where the money luandering charge comes from.
    A real man loves his wife, and places his family as the most important thing in life. Nothing has brought me more peace and content in life than simply being a good husband and father.

  6. #36
    Distinguished Member Array Colin's Avatar
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    We just had my Great Uncles coin collection valued, most of the US speciality coins had little or no value. Came as a bit of a surprise. the UK gold coins fetched quite a bit.

  7. #37
    Restricted Member Array SelfDefense's Avatar
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    Quote Originally Posted by LastManOut View Post
    I guess we can only hope our fiat currency doesn't go by the way of the German Mark in the 1920s.
    Do you have evidence that our currency has the problem of post WWI Germany? Yes, we do hope our fiat currency does not inflate out of control. I see no such problem. Does our money have problems? Certainly. Does it require a revolution and Constitutioal revolt? Hardly.

    Or we will all be scrambling like the LD Supporters are now.
    I never heard of this Liberty nonsense until it was posted here. The Liberty Dollar supporters are 'scrambling' because their illegal conspiracy has been exposed and some have lost real money supporting an illegal currency.

    How much is your Ron Paul $20 coin worth today?

    As a side question. why has Paul not distanced himself from this nonsense. If he had any hope at a run for the presidency, especially as a Constitutional originalist, being associated with this unconstitutional money is certain doom.

  8. #38
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    Honestly I don't think the Liberty Dollar owners will end up losing their money. I just cannot see the U.S. Govt doing a permanent confiscation.
    Talk about a public relations nightmare.
    I'm sure they want the Lib Dollar thing stopped and ended and my best guess is they will eventually set up some structured way to redeem citizens who have legitimate Lib dollar holdings. That is just my best guess that the confiscation was done in order to stop what they believe to be an illegal use of non standard money.
    NOT to ultimately steal money from citizens.
    They already have the IRS to do that.
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  9. #39
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    [QUOTE=SelfDefense;530548]How much is your Ron Paul $20 coin worth today?/QUOTE]

    On e-bay they are selling for about $120.00
    Other $20 Silver Libertys will always be worth the 1 troy ounce silver content. That was the point.

    You continue to call the Liberty Dollars illegal, and the US Treasury Department says they are legal. Who's correct? Unless it becomes illegal for private citizens to own private property or precious metals.

  10. #40
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    Quote Originally Posted by SammyIamToday View Post
    Must be why Andrew Williams himself said it wasn't illegal...

    They've been in use for over a decade. Or are gift certificates now illegal money also?
    Seen many metal gift certificates?

    From the cited section of the USC:

    TITLE 18 > PART I > CHAPTER 25 >

    486. Uttering coins of gold, silver or other metal

    Whoever, except as authorized by law, makes or utters or passes, or attempts to utter or pass, any coins of gold or silver or other metal, or alloys of metals, intended for use as current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design, shall be fined under this title[1] or imprisoned not more than five years, or both.
    Matt
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  11. #41
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    I haven't had any problems spending my "regular,plain old," cash lately...should I worry?
    Last edited by simon; November 18th, 2007 at 10:28 AM. Reason: sp

  12. #42
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    Quote Originally Posted by simon View Post
    I haven't had any problems spending my "regular,plain old," cash lately...should I worry?
    Yes. It's called inflation. "Regular, plain old, cash" is only worth about 6% of what it was worth since the Federal Reserve was authorized.

    Does it make sense to the average individual what the inflation rate is when wages increase at a similar rate. ONLY, if that individual is debt free and has savings. Then the $1,000 in the bank is now worth $60.

    We talk about saving and compound interest. If a new worker today puts a $100 per week saving into an average interest return vehicle will gross about $2M at retirement age. About what it will cost to buy the new car (plus gas) to drive to the bank to withdraw it. Sucks. doesn't it?

    Now if inflation was kept in check, $2M would be worth $2M. Or if you had money that increased in value with inflation rate, i.e. gold or silver, then the same would hold true. Better yet, if the US currency was backed by gold of silver (per JFK's Executive Order #11110 [signed 2 months before he was shot]), it would hold it's value equal to the value of the specie it is secured by.

    Just my opinion.

  13. #43
    Restricted Member Array SelfDefense's Avatar
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    Quote Originally Posted by LastManOut View Post
    Yes. It's called inflation. "Regular, plain old, cash" is only worth about 6% of what it was worth since the Federal Reserve was authorized.

    Does it make sense to the average individual what the inflation rate is when wages increase at a similar rate. ONLY, if that individual is debt free and has savings. Then the $1,000 in the bank is now worth $60.
    The truth is that the free market takes care of pricing inflation. Wages do go up as inflation increases because employees require more money to take a job from an employer. The only thing inflation creates is greater dynamic range for the pricing of goods and services. (So much so that one cent pieces are irritating.)

    Yes, inflation does affect the so called fixed income people, but they are accepting government handouts! or the unamerican and socialist social security system payouts.

    A free, capitalistic marketplace renders inflation moot.

  14. #44
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    Quote Originally Posted by SelfDefense View Post
    Are they trying to destroy our economy in the hopes of going backwards to a 'better time?' The truth is that a little inflation is not a bad thing and in many ways good. Our economy is a strong as it has ever been. We are the wealthiest nation on Earth. Do the Liberty supporters really think our monetary policy does not have a great impact on our economic development? Or have they fooled themselves to think the economy is bad as the MSM and liberals continue to espouse?
    Have you seen what the dollar is doing lately? I could only wish we had real money and not monopoly money that's printed whenever the government feels the need. Everytime they print more, they make what you have worth less.

    Quote Originally Posted by MattLarson View Post
    Seen many metal gift certificates?

    From the cited section of the USC:



    Matt
    The Liberty people also were printing paper vouchers that were confiscated. I believe that it applies very much when gift certificates are the same thing.
    ...He suggested that "every American citizen" should own a rifle and train with it on firing ranges "at every courthouse." -Chesty Puller

  15. #45
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    Ya know,I think that if a car cost you 2 millon dollars in this or any country for that matter there would be a whole lot of other problems you would have to worry about besides how much money you have in your pocket...the sky is not falling...

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