Posted on 11/16/2007 10:13:07 AM PST by KentTrappedInLiberalSeattle
EVANSVILLE, Indiana (AP) — Federal agents raided the headquarters of a group that produces illegal currency and puts it in circulation, seizing gold, silver and two tons of copper coins featuring Republican presidential candidate Ron Paul.
Agents also took records, computers and froze the bank accounts at the "Liberty Dollar" headquarters during the Thursday raid, Bernard von NotHaus, founder of the National Organization for the Repeal of the Federal Reserve Act & Internal Revenue Code, said in a posting on the group's Web site.
The organization, which is critical of the Federal Reserve, has repeatedly clashed with the federal government, which contends that the gold, silver and copper coins it produces are illegal.
(Excerpt) Read more at politicalticker.blogs.cnn.com ...
LOL! I guess your point was......no point at all.
It will slow you and the rest of the sheep down from trying to figure out creative ways around it.
Paying a premium to buy silver? Wow, creative!
If you say so.
That is correct. E.S. forgot to add those two metals in a reply. The point still is that money is supposed to backed by something, other than ink.
Just take a look at how the government drove up the price of Ron Pual silver dollars on Ebay. You could of got them for 28 bucks before the raid, now they are going for over 300 bucks after the raid.
Wow! $28 for less than $15 in silver. That is creative. I can see why the Feds were anxious to stop the stupid people from suffering 86% inflation with those purchases.
I always figured that you and the Feds are superior to us.
I don't know about the Feds, but I make it a point to not pay 180% or more of the value of a basic commodity. It has something to do with understanding math. Not everybody gets it.
I don't know about the Feds, but I make it a point to not pay 180% or more of the value of a basic commodity. T.P.
I will leave your logic to yourself tonight.
I'll speak slowly, because you're a goldbug. If you buy an ounce of silver (spot price a little below $15) for $28, you've over paid by about 86%.
Now if you pay 180% or more, of the value of a commodity, you're paying the value of the commodity (100%) plus the overpayment (80% or more).
Let me know if you need any more math or logic lessons. I'm always glad to help.
No T.P. That is what you were quoted as to willing to pay. Do I have to quote you again? Word for word?
I was quoted as willing to pay $28 for an ounce of silver?
Do I have to quote you again? Word for word?
Yes.
Could you explain my quoted text from you on post 148 then?
I could use examples with real numbers if that will help you.
Have at it.
"I can see why the Feds were anxious to stop the stupid people from suffering 86% inflation with those purchases. "T.P.
"I don't know about the Feds, but I make it a point to not pay 180% or more of the value of a basic commodity." T.P.
Say oil is $100 a barrel. If you pay an 80% premium, you'd pay $180. That's the same as paying 180% of the value of the oil.
Is that easier for you to understand?
Clerks are not always the sharpest knives in the drawer. About 20 years ago merchants in San Antonio suddenly began asking for street addresses, not Post Office Boxes, when paying by check. My home town did not have street addresses until years later, and there was no local mail delivery (just a free PO Box). Try and explain that to the clerk who has been instructed to not take a check without a street address.
Finally, disgusted by another clerk demanding a street address that did not exist, I sarcastically said "1600 Pennsylvania Avenue." The clerk didn't blink, just wrote it down on my check, and I realized I had solved the problem of not having a street address. After a while that address got boring, so I would mix it up with with "221B Baker Street," "10 Downing Street," or "1060 West Addison". No clerk ever caught on.
When the Liberty Dollar was introduced on October 1, 1998, the initial $10 Silver Base was established at one Troy ounce of .999 fine silver. In other words, every ten Liberty Dollars, regardless of its denomination, was backed by one ounce of fine silver. Of course, many people were worried about what would happen to the Liberty Dollar when the spot price of silver went over $10 per ounce. In reply to this concern we published: "What happens to the American Liberty Currency when silver rises over $10.00 per ounce?
In the monthly newsletter, Liberty Dollar News, for March 2005 we defined the econometric features of the crossover point when the Liberty Dollar would Move Up to the $20 Silver Base: "The Crossover Point for the Liberty Dollar from the current $10 Silver Base (one Troy ounce of .999 fine silver backs $10 Liberty Dollars) to the new $20 Silver Base (one Troy ounce of .999 fine silver backs $20 Liberty Dollars) will occur when thirty day moving average (30 DMA) for silver stays over $7.50 for thirty consecutive calendar days."
As the Moveup Point is very important, the Liberty Dollar uses an independent, third party source for its 30 DMA so there is a definitive point that is readily available and easily verifiable by everyone. Just like the monthly audits, there is total transparency for this econometric stability-inducing feature of the Liberty Dollar to protect it from the erratic actions of a free market silver. You can follow the 30 DMA and watch it develop by simply going to ScotiaMocotta, which is a division of the Bank of Nova Scotia, a Canadian Bank, at: http://www.scotiamocatta.com/prec/pdfs/pm_daily.pdf. The 30 DMA is listed at the bottom of page 3.
The November 2005 issue of the Liberty Dollar News, announced: "Finally after seven years and two earlier tries to move from the entry level $10 Silver Base, rather serendipitously, the Liberty Dollar Moved Up to the $20 Silver Base on Thanksgiving Day, Thursday, November 24, 2005.
Immediately all Liberty Dollars, in specie, paper and digital forms DOUBLED. If you had Liberty Dollars before the Move Up you profited because the underlying commodity increased in value. If you had digital, your eLD doubled the next day. If you had paper Silver Certificates, you could redeem them for the new $20 Silver Libertys. If you had Silver Liberty in specie form, you were offered a special re-minting rate to exchange them for new $20 Silver Libertys. And although the National Fulfillment Office was swamped, which delayed shipments, the Move Up of the world's first free market currency was a very successful event and marked the birth of the Liberty Dollar.
50 years ago four gallons of gasoline could be bought for a dollar. The dollar was backed by silver. And that same amount of silver will still buy four gallons of gas today. When one think about it, gas, food, and almost everything else has NOT gotten more expensive. It only takes more green paper money (FRN) to buy the same things. We do not have inflation that the government's economic whores would have us believe, what we have is theft of our purchasing power. Clear and simple theft of our purchasing power! There is NO INFLATION! It is outright THEFT.
Q: What prevents the Government from seizing the silver/ gold that's stored in Sunshine Minting before or after the customer purchases it? The Government has seized it before so are they allowed to do it again?
A:The opportunity for the government to seize the gold/silver at Sunshine "before or after" any purchase is very small due to the quick turn-around time on all orders. The only perceived risk is to the gold/silver that is stored for the Gold and Silver Certificates issued as warehouse receipts. "Perceived risk" because the government has never seized any warehouse receipts because there has never been any warehouse receipts like the Liberty Dollar. Plus it is doubtful that the government would want to risk any seizure and hand Liberty Dollar the enormous publicity and draw their unbacked currency into the public spotlight.
As for a general seizure like the Roosevelt Confiscation of 1933, this is utterly impossible simply because the public attitude towards the government has changed and most importantly because gold is now a free commodity on the world market. Any seizure by any government, particularly the US government would drive gold and silver to unheard of prices. And as the government cannot confiscate without paying market value, it would be impossible for the government to outrun the escalating prices on the world market. To learn more why confiscation is utterly impossible, please read Chapter 28, page 244 in "Liberty Dollar Solution" book available for only $5 if you mention this post.
PS: The government was not "allowed" to confiscate the gold the first time and it will never be tolerated again... otherwise we return to the lead standard.
(Click above link - and see the different specie and certificates available. Click on any of the thumnails to view large size images. The $50 certificate is downloaded as a LARGE sized TIF image that will allow even macular degeneration patients to see what the hoopla is all about)
Sounds good, until you punch it up on a calculator. 100 plus 180 percent gives a figure of 280 dollars. Maybe you are a government Consumer Price Index person : )
>>>>From the Liberty Dollar web-site (How to spend Liberty Dollars):
Translation:
How to give me $20.00, plus shipping and handling, for $10.00 worth of silver.
The only problem is I never said anything about adding 180%. Try again?
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