Asheville man charged in alleged Liberty Dollar fraud scheme[NC]

Citizen-Times | 05 Jan 2009 | Clarke Morrison

[BGHater]

Copyrighted News Article.

Gov't says they are trying to 'undermine the US currency system'.

Link

[tx_eggman]

When groups seek to undermine the U.S. currency system, the government is compelled to act,” said acting U.S. Attorney Edward Ryan

Yo, Edward, start with Tim Geithner, Chris Dodds, Bawney Fwank and the rest of the assclowns up there in DC

[Moonman62]

IIRC, these guys were charging a premium for their currency. It was a scam.

[BGHater]

Some perfectly legal examples of local currencies, from NPR.

Ithaca, N.Y., Forms Currency for Local Use

Michigan Bar Mints Its Own Currency

[VaBthang4]

Loserdopian?

[BGHater]

Dunno, probably some extremist.

[trickyricky]

"Gov't says they are trying to 'undermine the US currency system'."

Pot calls kettle black.

[ROLF of the HILL COUNTRY]

You beat me to it! That sure was a gem of a phrase!

[ROLF of the HILL COUNTRY]

Here's another rich line:

“Consumers were using their hard-earned money to buy goods and services, then getting fake change in return.”

Getting REAL silver or gold coins as change for greenbacks is not FAKE! (Maybe you can't spend them everywhere in the country, but they certainly have more lasting value than a Fed note!)

[MamaTexan]

Gov't says they are trying to 'undermine the US currency system'

Horsefeathers! If the coins were silver or gold and contained the proper gram weight of the precious metal, there is NOTHING illegal about it. I don't recall the people making Liberty Dollars claiming they were government made or stamping them with 'United States of America'.

It's no different that the companies like Northwest Territory who mint standardized coins. The Constitution specifies what is lawful tender, NOT the federal government.

[Dick Bachert]

[KarlInOhio]

Have the Federales gone after the various cities who are selling local scrip at a discount to promote area businesses? Have they gone after companies like Best Buy for selling their own "Currency" (gift cards) in competition with Federal Reserve Notes?

The naked emporer just needed to arrest the kid not complementing him on his fine clothes.

[sportutegrl]

Wouldn’t printing out a trillion dollars be undermining the us currency system?

[BluH2o]

US Mint just released their 2009 Ultra High Relief Double Eagle gold coin. One per customer, received mine yesterday. Great investment.

[ASOC]

What was the seniorage rate?

[BluH2o]

What was the seniorage rate?

$1298.00 plus S&H. If there's a special rate for seasoned citizens they failed to mention it to me ... paid full pop.

[ASOC]

ouch!!!!!

that’s like 30%.

[BluH2o]

ouch!!!!!

Same 2009 Ultra High Relief Double Eagle gold coin I purchased from the U.S. Mint for $1289.00 is now selling on eBay for over $1500.00, at least that's the asking price. There is high demand for the coin.

[Lurking Libertarian]

Horsefeathers! If the coins were silver or gold and contained the proper gram weight of the precious metal, there is NOTHING illegal about it. I don't recall the people making Liberty Dollars claiming they were government made or stamping them with 'United States of America'.

The "Liberty Dollars" had less than half the amount of silver in them that their "face value" showed. (THere were silver coins stamped "$20," but they contained only $8 worth of silver at then-current market rates.)

[Freedom4US]

I where this guy got into trouble, was the nominal value stamped on them, plus the fact that some folks might get confused whether these are really coins issued by the government.

If they were making $ coins identical in every way to those made by the mint, who would care?? “don’t try this @home”