FBI raids Liberty Dollar office-confiscates Ron Paul Dollars

http://www.rabidquill.com/ ^ | Nov 15, 2007 | "BJT"

[untrained skeptic]

As for selling people bullion that costs significantly less to mint than it's sold for - what do you have against capitalism?

Nothing, but I find it amusing when people stir up the anti-establishment crowd, which has a huge anti-capitalist contingent, to earn lots of money.

It's kind of like Al Gore pushing "environmental causes" that drove up the price of oil while owning a bunch of oil company stock.

Or his global warming propaganda that has made him a fortune.

I need you to help me take on all these rich and powerful people that are exploiting you! Come on now! We're really making a difference! (In his band account.)

If you're serious about this, the principal target of your ire in this respect should be the US Mint, which sells five cents worth of metal for one dollar in the form of their "golden" dollars, or the Federal Reserve Banks which put out 1.2 cents worth of pretty paper priced at $100.

The US Mint sells coins to collectors. You know what you are getting when you buy it and they don't try and sell it as a part of a plan to overthrow the establishment.

[lormand]

I’m with you. I too used to love Ron Paul.

[Zathras]

Creating any currency the same size as existing REAL currency is a felony.
It doesn't matter what the reason.
This is why all printed money for games as smaller than the real thing.

[mvpel]

The US Mint sells coins to collectors. You know what you are getting when you buy it and they don't try and sell it as a part of a plan to overthrow the establishment.

What makes you think that people don't know what they are getting when they buy a Liberty Dollar?

If they were selling bumper stickers that said "END FIAT CURRENCY" for 50 times more than they cost would you still have a problem with it? What's wrong with using an ounce of silver to help spread awareness of the major problems of fiat currency?

And the US Mint is PART OF the "establishment," so of course they don't sell their proof sets with an agenda. Of course, if you try to use them at face value, the government will come after you with guns drawn.

[Iwo Jima]

to say that the official government currency is “fake currency” suggests a mindset that might be willing to violate currency laws.

I don't see it that way at all. To me that just says that the money is not honest, that it is being inflated and manipulated so as to diminish its value and therefore to decrease the value of savings and dollar denominated assets. It is not maintaining its function as a store of value, which a true currency is supposed to do.

[Iwo Jima]

Under what statute?

[rb22982]

Why would I sell Apples or Steaks for federal reserve dollars?

Is it because they want to make a profit?

I'm sure they want to make some money. But since you only 'lose' around $2 when you subtract out the value of silver/gold, it's not really like they are 'stealing.' If they are committing real fraud then I have no problem with the confiscation (to be returned to the people who were frauded). Otherwise though, this is statist government at it's absolute worst.

[happinesswithoutpeace]

Thx. Wasn’t sure about which day it was ( a while after my post I did read the raid was on Wed in the NY piece) That clears up the question I had on the timing : )

[mvpel]

Again, what is the “value” of silver or gold?

The “spot price” is the price of a 500oz ingot in New York City for immediate delivery.

Is the US Mint proof silver dollar, one ounce of silver at $30, “overpriced?”

[traviskicks]

welcome aboard!

[greybull]

Part of it has to do with supply and demand, but a big part also has to do with our government in Washington spending money like a bunch of power hungry, liberal politicians and driving up the national debt to insane levels.

Congress can only spend the money released into circulation by the fed or US dollars borrowed from foreign governments. Inflation is a monetary phenomenon. The fed "says" its wants a little inflation, but releases massive amounts of cash into circulation and continues to lower margin requirements for banks. Spending money already in circulation is looking in the wrong place for the root cause of inflation.

[mvpel]

I find the $20 Liberty Dollar silver rounds to be more visually appealing than the $30 US Mint 1oz proof silver dollar, and ten times more appealing than the $22 uncirculated 1oz silver dollar.

So as far as I’m concerned, I’d be getting a pretty good value.

[rb22982]

I might overpriced on spot silver value alone. As a seperate coinage, brilliant uncirculated, i would say it’s really not overpriced at all. My point mainly was the Liberty Dollars are in reality more ‘real’ than US Dollars—not that I plan on switching ever—mainly for reasons like this article.

[July 4th]

This raid happened because the Liberty Dollar, the second most popular currency in the country, threatens to usurp the entrenched power of the Fed’s Almighty Dollar

What crack is the author smoking?

[bondservant]

We Americans do not understand money . . . as a result, the government routinely steals it through their inflationary practices. A good primer on the Federal Reserve scam is the book Dollar Noncents - background information can be found here: http://dollarnoncents.com/aboutus.htm

[Charlespg]

It looks like they breaking the laws by by printing their own currency

Sounds like a bunch of kooks to me so far

[darkwing104]

Sounds like a bunch of kooks to me so far

No argument here but I am waiting for the real reason why this place was raided. All the reports we are seeing are from email and press releases from Liberty Dollar. Look like they are attempting to play out the trial before the public before charges are filed. In other words "Bury the truth in bullsh#t".

[Toddsterpatriot]

Banks do this all the time. They pull money out of thin air. You deposit $100.00 in your savings account and your bank waves a magic wand and is then legally allowed to loan out 99$ for every 1$ you deposit.

Maybe you can explain further? I open the first account at a new bank and I give the bank 100 $1 bills, how can they loan out more than my deposit?

Fractional-Reserve Banking.

You should look up the definition.

[Fan of Fiat]