Falling dollar and your right to private currency
Killing off the US currency to jump start the economy is bad economic policy. The US Dollar hasn't been this low against the Loonie (Canadian dollar) since 1824 - but now the government is trying to (illegally) shut down any potential competitors to the US currency. Now, I love the dollar - and so do you. It's that magic faith based thing we trade for McFood, toilet paper, and USA Today. However, at it's current rate of decline the dollar may hit 60 yen within three years and by that time Americans will be crossing the boarder into Mexico looking for McJobs.
So while I am dealing with the fact that my faith based currency (from clients and projects) is worth 20% less this year then it was last year - I get the following email from NORFED (the founders of the Liberty Dollar private currency).
Subject: FBI Raids Liberty Dollar, Confiscates All Ron Paul Dollars
Dear Liberty Dollar Supporters:
I sincerely regret to inform you that about 8:00 this morning a dozen FBI and Secret Service agents raided the Liberty Dollar office in Evansville.
For approximately six hours they took all the gold, all the silver, all the platinum and almost two tons of Ron Paul Dollars that where just delivered last Friday. They also took all the files, all the computers and froze our bank accounts.
We have no money. We have no products. We have no records to even know what was ordered or what you are owed. We have nothing but the will to push forward and overcome this massive assault on our liberty and our right to have real money as defined by the US Constitution.
But to make matters worse, all the gold and silver that backs up the paper certificates and digital currency held in the vault at Sunshine Mint has also been confiscated. Even the dies for mint the Gold and Silver Liberty dollars have been taken. This in spite of the fact that Edmond C. Moy, the Director of the Mint, acknowledged in a letter to a US Senator that the paper certificates did not violate Section 486 and were not illegal. But the FBI and Services took all the paper currency too.
The possibility of such action was the reason the Liberty Dollar was designed so that the vast majority of the money was in specie form and in the peoples hands. Of the $20 million Liberty Dollars, only about a million is in paper or digital form. I regret that if you are due an order. It may be some time until it will be filled... if ever... it now all depends on our actions.
Everyone who has an unfulfilled order or has digital or paper currency should band together for a class action suit and demand redemption. We cannot allow the government to steal our money! Please don't let this happen!!! Many of you read the articles quoting the government and Federal Reserve officials that the Liberty Dollar was legal. You did nothing wrong. You are legally entitled to your property. Let us use this terrible act to band together and further our goal to return America to a value based currency.
Thanks again for your support at this darkest time as the damn government and their dollar sinks to a new low.
I'll acknowledge that NORFED are a bunch of libertarian fringe types (as if there were any other kind). However, I always considered them to be pioneers comparable to the people who started UPS. Back in the day it was completely unthinkable (and declared illegal) that a private company should take on duties assumed sovereign to the US Postal Service (delivery of mail and packages). However, today there are hundreds of companies that do just that. Even the US Postal Service now subs out routes and such to private contractors who do the same work more efficiently at a lower cost.
NORFED mints exceptionally high quality .999 silver and gold 1 oz coins. These coins have a current face value of $20.00 (I bought them back when the face value was $10.00). The idea was a metal backed currency is a good hedge (in terms of value) from devaluation and inflation. It's a sound idea. I can trade a liberty dollar for more today then I could buy with standard issue US dollars. In essence they are going up against the US Treasury in much the same way UPS challenged the US Postal Service. They are offering a higher value product that is immune to bad policy and founded on the most simple of market dynamics – supply and demand.
Back when the Liberty Dollar (pictured) had a minted face value of only $10.00 people would regularly offer me $20.00 for a single coin. (now a single coin fetches $40.00 from admirers) It was a great conversation piece and I often traded Liberty Dollars for all sorts of products and services. They were good transactions where real value was exchanged. I am reminded of my good friend and noted entrepreneur Christian Eyerman who couldn't get over the fact that the 20 pound sterling banknote in the United Kingdom has the phrase “I (the Bank of England) promise to pay the bearer on demand the sum of Twenty Pounds.” “Twenty pounds of what?” I asked? Which is exactly why we need to get back to a metal based standard in terms of underpinning our economies with something of real value.
If you are a Liberty Dollar holder the be part of the Class Action Suit.
