[mnehring]

The problem with the paper bills is you have to trust that whomever runs the Liberty Dollar will honor their printed gold or silver value. They were selling those as though there was a backed up with full faith and credit value.

[Attention Surplus Disorder]

Yes, true. That might have run afoul of various securities laws.

[from occupied ga]

The problem with the paper bills is you have to trust that whomever runs the Liberty Dollar will honor their printed gold or silver value.

No different than gift cards (which are really private currency.)

[Dead Corpse]

The problem with the paper bills is you have to trust that whomever runs the Liberty Dollar will honor their printed gold or silver value.

And you trust the FedGov more with their debt backed reserve notes?

I would prefer a commodity based currency, but do not confuse me with a "gold bug" or a Ron Paul supporter.

I do not approve of the actions of the FBI here. Unless they have verifiable proof that there was in fact fraud being committed here, this just sounds like more "FedGov on a fishing expedition" type crap.

[JerseyHighlander]

The problem with the paper bills is you have to trust that whomever runs the Liberty Dollar will honor their printed gold or silver value. They were selling those as though there was a backed up with full faith and credit value.

I agree 100% with you. On Wall Street in the last 7 years bankers sold and transferred receipts for several hundred billion dollars of derivatives that are not backed by sound assets. Think this through, fifty times the entire value of the libertydollar.org corporation has been written off by a single director of a CDO division of US banks. And because of that a bank in east Germany went bankrupt.

At least libertydollar.org has physical species, welll had species until this morning :P

[dollarbull]

"All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."

--John Adams.

The problem with the paper bills is you have to trust that whomever runs the Liberty Dollar will honor their printed gold or silver value. They were selling those as though there was a backed up with full faith and credit value.

You've proven Adam's point in a most ironic way. What you stated is actually the problem with FRNs, not the liberty dollars.