| Author |
 Topic  |
|
|
copperbullion
Penny Pincher Member
Australia
136 Posts |
 Posted - 11/23/2007 : 07:13:28
|
I'm wondering what people think of the liberty dollar raids just over a week ago? I'm located in Australia and had 100 2008 copper dollars pre ordered and paid for which I was going to use as a promotion for my website You must be logged in to see this link. We liked the idea of a 1 ounce copper coin and had no intention of using them as a form of currency. Anyway, just wondering what your thoughts are. Were they doing something illegal? It didn't seem like it to me.
|
|
|
Ardent Listener
Administrator
USA
4841 Posts |
Posted - 11/23/2007 : 09:51:09
|
I'm reserving judgement until I learn more about what case against Liberty Dollar the goverment presents. I will admit I was never a fan of Liberty Dollars as an investment or as a means of trade or an alternative currency at the current time. Bad money drives out good. That is the same concept of why we are now hoarding copper cents and dumping our FRNs. Who would currently use a liberty dollar made out of copper, silver, or gold when they could still use FRNs?
Of course even though I may not be a fan of Liberty Dollar, the goverment had better prove fraud or a crime against them. I take it very serious when the goverment takes an action such as this against a private business.
From what I saw you have a great site. You must be logged in to see this link. Welcome to realcent and I hope to read more from you.
Realcent.forumco.com disclosure please read
All posts either by the members, moderators, and the administration of You must be logged in to see this link. are for entertainment purpose only. It is not the intent of realcent.forumco.com to provide investment, medical, legal or tax advice and nothing posted here should be considered to be so. |
 |
|
|
tmaring
Penny Collector Member
USA
302 Posts |
Posted - 11/24/2007 : 18:31:56
|
I think the case against Bernard Von Nothaus and the Liberty Dollar is extremely weak. He did nothing illegal and was informed by the director of the mint that his operations were within the law. He was making private bullion using political themes as designs. As do I and many others.
What the governement is doing is trying to repress a political idea... the idea that the Federal Reserve should be abolished... an idea chanmpioned by presidential candidate Ron Paul. Certain people in the government are terrified that people will realize someday that the unbacked fiat dollar is actually worthless butt-wipe paper. They have managed to keep the lie afloat, but along comes a rather popular figure who has gained unexpected support among the people, and he is talking about it. This cannot be permitted. So they confiscate all the Ron Paul silver, copper, and gold coins, along with the silver and gold bullion backing the Liberty Dollar paper issues.
This will eventually become known as a complete lie, just as the "Swift Boat" lies were used to torpedo John Kerry. But the damage will be done, the lie will be accepted by too many, and the currency will continue to fall.
Unless..... we don't allow let them get away with it. |
|
|
|
fiatboy
Administrator
912 Posts |
Posted - 11/24/2007 : 18:43:21
|
Welcome, copperbullion. (Great site, btw!)
As regards the Liberty Dollar raid, I think that NorFed was doomed from the start. There is no exception to Gresham's Law.
On the other hand, although it's difficult for an outsider to tell what's really going on with the case, it does appear that the Feds busted them on trumped up charges. And I wouldn't be surprised if they had ulterior and political motives.
I never liked the Liberty Dollar to begin with, but I certainly didn't mind that they existed. Unlike the Federal Reserve and, to a lesser degree, the U.S. Mint, NorFed didn't directly harm my own personal savings, and their political will wasn't unconstitutional.
I wish NorFed the best and hope they have some spectacular attorneys. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
|
|
|
copperbullion
Penny Pincher Member
Australia
136 Posts |
Posted - 11/25/2007 : 23:28:29
|
| I have now read the 30+ page FBI affidavit that Liberty posted on their site. I hate to say it but it looks like the FBI went after them because of the way they were selling the coins at a profit. (they were meant to be a non profit organization) If you read the affidavit, the FBI points out how Liberty was profiting from the rise in silver prices. Liberty had what was called a “crossover” time which was fast approaching in the silver price. Once silver hit $16.50 an ounce, Liberty would have stopped the $20 silver “coins” and moved to $50 silver "coins” If the raid had not happened, they could of made a fortune! That been said, I thought their copper $1 “coins” were reasonable value considering the minting costs. I have looked into making one ounce copper ingots and “rounds” here in Australia, and I can tell you it would be hard to make a simular item here for under $2.50. |
|
|
|
copperbullion
Penny Pincher Member
Australia
136 Posts |
Posted - 11/25/2007 : 23:29:48
|
| Thanks for all the positive comments too, they really are appreciated. |
|
|
| |
Topic |
|
|
|
The Liberty Dollar Raids
Forum Locked
