Just what is a “Liberty Dollar”?.............
http://sev.prnewswire.com/banking-financial-services/20071015/CLM15215102007-1.html
As I understand it, the LD is a silver round (= 1 troy oz silver) which is intended as a private currency fashioned after the coinage act of 1792/3 (para: Congress shall make no coin not composed of gold or silver) It is not intended to “compete” with Federal Reserve Notes. Legally, there are bunch of considerations wrt a: calling a disk of metal a “coin” (hence, generic silver rounds are called “rounds”) b: stamping anything refering to “dollars” on such an item; and c: attempting to use such an item for legal tender. I’m not sufficiently studied in the legal particulars to state all the rules and regs on this topic. I find this development alarming because AFAIK, this organization has broken no laws.
IIRC, the “Liberty Dollar” and its organization existed before and independently of RP’s presidential aspirations, but RP is on record as being against the existence of the Federal Reserve and so it seems a maergin of interest may have occurred.
Why it’s the the second most popular currency in the country!
seems like an undocumented security bond.
IOW someone decided to sell shares in gold bards but are calling it a “currency” in order to avoid those nasty bank and securities laws that came into play after the great depression.
Sounds like the International Gold Bullion Exchange raid of the 1980s.