Fake Ron Paul Currency seized

Look, if you think you can make money trading in precious metals, go for it. Just don't give someone an ounce of silver and try to tell them it's worth $20, 'cause it ain't.
 
JEROME DA GNOME said:
Why not 1976?
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I start it when Volcker ushered in the current practices of the Fed.

Notice the price runup prior to 1980 Jerome? This was the last time the gold nuts ran up the price of gold. But that was in response to double-digit inflation. A similar surge has happened recently, I wouldn't expect the price of gold to stay that high for very long.

But you put your money where you want.
 
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ChristineR said:
Look, if you think you can make money trading in precious metals, go for it. Just don't give someone an ounce of silver and try to tell them it's worth $20, 'cause it ain't.
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I think their attempt was to disrupt the monopoly that the private government protected banks have on the trade between individuals.
 
Lets see, US code says in article § 5103. Legal tender
United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

And according to the US mint:
http://www.usmint.gov/pressroom/index.cfm?flash=yes&action=press_release&id=710
-from the above website:
"Under 18 U.S.C. § 486, it is a Federal crime to pass, or attempt to pass, any coins of gold or silver intended for use as current money except as authorized by law. According to the NORFED website, "Liberty merchants" are encouraged to accept NORFED "Liberty Dollar" medallions and offer them as change in sales transactions of merchandise or services."

Looks like they are up the creek on this one & the feds have all the evidence they need...
 
WildCat said:
But you put your money where you want.
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You know that money is just a recite for past labor and trade?

Money should be nothing more than a convenience of transaction.

Those that profit from others transactions are little more than larcenists.
 
Ravenwood said:
Lets see, US code says in article § 5103. Legal tender
United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.
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What you need to do to validate your thinking here is to find the definition of "debt" in this part of the code.
 
JEROME DA GNOME said:
You know that money is just a recite for past labor and trade?
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Yes.

Money should be nothing more than a convenience of transaction.
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Yes, so why do you want to use an inflation hedge as money?

Those that profit from others transactions are little more than larcenists.
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Who does this, and are they adding value to the transaction?
 
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JEROME DA GNOME said:
I think their attempt was to disrupt the monopoly that the private government protected banks have on the trade between individuals.
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No, it wasn't. Their "attempt" was to make them and their friends money by getting $20 worth of goods for $15 worth of silver. Had they simply made a private currency which was clearly not legal tender (like the Ithaca Hours) they would still be in business. There are many such private currencies and some, like the Hours, are specifically and openly designed to interfere with the normal practices of commerce and federal reserve monopoly. They were simply hiding their counterfeiting behind political rhetoric so that they would have someone to blame once they were thrown in jail where they belong and their friends were stuck with a bunch of $20 coins that are only worth $15.
 
JEROME DA GNOME said:
What you need to do to validate your thinking here is to find the definition of "debt" in this part of the code.
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“Debt” is defined in paragraph (12) [enacted as (11)] as a liability on a claim. The terms “debt” and “claim” are coextensive: a creditor has a “claim” against the debtor; the debtor owes a “debt” to the creditor. This definition of “debt” and the definition of “claim” on which it is based, proposed 11 U.S.C. 101 (4), does not include a transaction such as a policy loan on an insurance policy. Under that kind of transaction, the debtor is not liable to the insurance company for repayment; the amount owed is merely available to the company for setoff against any benefits that become payable under the policy. As such, the loan is not a claim (it is not a right to payment) that the company can assert against the estate; nor is the debtor’s obligation a debt (a liability on a claim) that will be discharged under proposed 11 U.S.C. 523 or 524.
 
Ravenwood said:
“Debt” is defined in paragraph (12) [enacted as (11)] as a liability on a claim. The terms “debt” and “claim” are coextensive: a creditor has a “claim” against the debtor; the debtor owes a “debt” to the creditor. This definition of “debt” and the definition of “claim” on which it is based, proposed 11 U.S.C. 101 (4), does not include a transaction such as a policy loan on an insurance policy. Under that kind of transaction, the debtor is not liable to the insurance company for repayment; the amount owed is merely available to the company for setoff against any benefits that become payable under the policy. As such, the loan is not a claim (it is not a right to payment) that the company can assert against the estate; nor is the debtor’s obligation a debt (a liability on a claim) that will be discharged under proposed 11 U.S.C. 523 or 524.
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Is this the same code?
 
It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
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Warren Buffet on the economic productivity of gold.
 
How to use the Liberty Dollar:

5. "Do the Drop!" The best way to introduce the Liberty Dollar is to drop the Silver Liberty in someone's hand. Do not hand it to the cashier, Drop it! Hold a one-ounce Silver Liberty a couple inches above the outreached palm and drop it so it lands flat in the person's palm.

6. Now the hardest part - don't say anything! Just wait. Let the person marvel at its beauty, weight, and discover it says TWENTY DOLLARS. When asked "Is it real?" Answer: "Yes, one ounce of silver PRIVATE currency valued at 20 dollars." Do not rush. Just stand there and wait, patiently. No need to smile. Just wait.

:boggled:
 
I really don't get setting currency values on the Gold Standard. Why not the Platinum Standard? The Oil Standard? The Prostitute Standard? What makes gold so uber special?
 
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