Posted on 11/17/2007 11:07:57 AM PST by mvpel
This thread is linked to a PDF document containing the seizure warrant executed against the property of the Liberty Dollar corporation and the bearers of its negotiable warehouse receipts.
The justification lists charges of money laundering, mail fraud, and wire fraud.
Guilty until proven innocent, apparently.
If it is one oz of silver it is worth approximately $14.25 + or -.
So a half oz would be $7.12 or so.
Do you have a reference to this credit card scam? Or is it just a rumor?
That seizure warrant is one of the biggest lies I have seen in a long time. It is a direct violation of the Constitution, but then it is the government and they care less about the Constitution only their own big time money and names in the papers. Guess they will use the gold, silver and platinum to buy luxury trips for the public servants.
From: Wikipedia, the free encyclopedia:
“A number of alternative currencies exist in the United States, including the Liberty Dollar, Phoenix Dollars, Ithaca Hours, and digital gold currency. Unlike most other alternative currencies, both Liberty Dollars and Phoenix Dollars are denominated by weight and backed by a commodity. Phoenix Dollars are backed exclusively by silver, while Liberty Dollars may be backed by gold or silver. Liberty Dollars differ from other alternative currencies in that they carry a suggested US dollar face value.
Community currencies may present problems for users because there is little to stop the issuer from producing more currency.[5] The primary difference between the Liberty Dollar and Hours is that Liberty Dollars are backed by an objective measure — a weight in metal.”
Nonsense. Merchants have made a fortune through the creation of their own private currencies. Though I am curious about something...
Some states have laws that require that gift cards never expire. While such laws may be well-intentioned, I see a problem: suppose I buy a $100 gift card and immediately spend $99.99 of it (leaving $0.01 so I can keep physical possession of the card). Does the merchant have to keep the records of how I spent the $99.99 forever in case I decide, fifty years from now, to try to redeem the card and complain when the merchant only offers me $0.01?
A merchant's expenses associated with keeping records on a card with a $100 balance should be well below the interest earned on that $100. But the expenses associated with keeping records on how $99.99 was spent could be substantially greater than the interest earned on a $0.01 balance.
The "fake" currency is the FRN.
Unconstitutional.
And backed by nothing but thin air.
I'd take a currency backed by something of value over a fiat currency ANY day.
That's why the banksters can't let this stand.
WHAT? FRACTIONAL RESERVE? HOW DAAAAAARE THEY TRY THAT SCAM!
uhhhhh, wate a minute....
I was working at a place of business a few years back, where they were selling those (to whomever was interested in them). I think I got one, too, but I don’t know where it is now. Maybe it will be a collector’s item now... LOL!
Well, back then when a business I was working at sold them, I remember reading up on it back then. There’s a good reason for selling it with just $15 worth of silver in it. That’s — very simply — so you don’t have a lot of people melting them down and grabbing the silver content as the silver content price rises over time. There was a mechanism in place (can’t remember exactly how it went though) in which they did verify that they had, in vaults which were audited and verified, enough silver to back every bit of money that they took in, for purposes of this coin. So, it wasn’t really a bad deal, actually.
Heck, if I could find mine now (wherever it went ... LOL), I would have more than the value of what I paid for it, for sure. That’s better than I can say for the value of a U.S. dollar coin or a quarter or other U.S. coin.
Do you make the same protest when it is drug dealers' money that is seized before being found guilty or having the opportunity to defend themselves in an open court of law?
Are the paper certificates they issue actually backed by the gold they claim them to be?
That's ridiculous. A hard currency is backed up 100%. A $20 coin is backed up by $20 worth of silver. These dollars used to be a $10 denomination when the price of silver was below $10, but as the price of silver rose they changed the denomination to $20 so they could still capture the difference. Read the application for warrant, and I hope for your sake that the statute of limitations has run out.
Setting aside the mail fraud and other charges, and just looking at your assertion, I'm wondering how it is supposed to be interpreted when the coins have "TWENTY DOLLARS," and "$20" and "USA" on them?
I have 100s of silver rounds, they all say "one ounce fine silver," but they don't say "TWENTY DOLLARS," "$20" etc.
This private mint would have benn in no trouble with its coins (ignoring the mail fraud etc for now) if they had not put on the "TWENTY DOLLARS," "$20," and "USA."
Here's a fairly typical "silver round," you can buy and sell these all day long, because they are only claiming to be what they are: an ounce of silver, and not "TWENTY DOLLARS #20 USA".
We shall see.
What I found to be totally lacking in the search warrant affidavit was any assertion that anyone had been defrauded or that there had been any complaints from consumers, merchants, the public, or anyone. This even though there were numerous undercover agents at Liberty. It appears that no one has felt that they were deceived or defrauded.
[The justification lists charges of money laundering, mail fraud, and wire fraud.
Guilty until proven innocent, apparently.]
Ahhh, the warrant request MUST list potential charges with specificity. Its one of those crazy law things. Are you paranoid?
Free Sliver 16:1
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