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[JSDude1]

In the fall of 2007, a group of about twenty New Hampshire residents got together to see what they could do to promote the use of silver as a trade medium. They set a meeting in November, expecting to come together to really ramp up the promotion of the Liberty Dollar. Unfortunately, the government decided to raid them just a few days before the meeting.

The meeting tone and agenda was quickly changed to "what do we do now?" Some analysis and discussion focused on two flaws in the Liberty Dollar model that the group saw: 1.The U.S. Dollar denomination & price formula 2.The centralized production and distribution system

The dollar denomination & price formula, while creating a strong incentive for using the LD in trade, also tied it too strongly to the government. Most people were also unsatisfied with the sometimes large difference between the spot price of the metal and the face value.

Most everyone agreed the centralized system was the biggest weakness. It gave the government an easy target to strike. It didn't take long to realize that a more distributed system would be at least a partial safeguard against robbery. It was also brought up that there is no real reason why money can't be produced by laymen.

[JSDude1]

http://www.youtube.com/watch?v=wItTH7Cv2D4

Found these guys on the web, what do you think? An ingenious way to reclaim our "money" or crazy?

[JSDude1]

http://www.youtube.com/watch?v=wItTH7Cv2D4

[ConorMacNessa]

"Found these guys on the web, what do you think? An ingenious way to reclaim our "money" or crazy?"

Do you believe we should adhere to the Constitution of the United States?

From Article 1, Section 8:

The Congress shall have Power . . . To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"

IMHO, crazy.



America demands Justice for the Fallen of Benghazi!

Genuflectimus non ad principem sed ad Principem Pacis!

Listen, O isles, unto me; and hearken, ye people, from far; The LORD hath called me from the womb; from the bowels of my mother hath he made mention of my name. (Isaiah 49:1 KJV)

[Jeff Winston]

The government has assumed an absolute monopoly on the production of money.

The “Liberty Dollar” got raided.

Looks like this model is more practical. They seem to have gone to some pains to make clear that it’s not money, yet it has some value for bartering.

It’s a nice idea, although I’m not too certain of the practical value of doing it.

[JSDude1]

Article 1, Section 10

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts

—Now it is obvious that the government does not ~regulate~ the spot prices of silver or gold (or any other commodity) so doesn’t this contradict with Article 1, Section 8?—

[maine-iac7]

This has been going on in oher areas for years - one of the most successful is BerkShares - in he Berkshires

http://www.berkshares.org/

[JSDude1]

But how many are backed by (let alone contain in the alt-currency) precious metals as these are??

[ConorMacNessa]

No it doesn't. The spot prices of precious metals or other commodities has nothing to do with who may coin or print legal tender. Article I, Section 10 confers no powers - it restricts the powers of the individual States.

The bottom line is, only the Federal Government has the power to coin or print legal tender in this nation. Anyone else trying to do so is nothing more than a counterfeiter.



America demands Justice for the Fallen of Benghazi!

Genuflectimus non ad principem sed ad Principem Pacis!

Listen, O isles, unto me; and hearken, ye people, from far; The LORD hath called me from the womb; from the bowels of my mother hath he made mention of my name. (Isaiah 49:1 KJV)

[JSDude1]

This is the next question then: are they (The Federal Government then not violating the Constitution (in article 1, section 10) when they allow (and even involved in the creation process) of money that is NOT Gold and Silver?

[OneWingedShark]

Art 1, Sec 10, Para 1:
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

I'm not so sure it's crazy.

[OneWingedShark]

This is the next question then: are they (The Federal Government then not violating the Constitution (in article 1, section 10) when they allow (and even involved in the creation process) of money that is NOT Gold and Silver?

How about the fact that it's not Congress regulating the money-value but some private enterprise (the Federal Reserve)?

[ConorMacNessa]

FRiends, I must leave this discussion at this time. I respectfully disagree with your position, and would be most happy to take this discussion up with you on the morrow. I am om the verge of retiring and before I do so I have obligations to fulfill on another thread. I bid you bonne nuit!



America demands Justice for the Fallen of Benghazi!

Genuflectimus non ad principem sed ad Principem Pacis!

Listen, O isles, unto me; and hearken, ye people, from far; The LORD hath called me from the womb; from the bowels of my mother hath he made mention of my name. (Isaiah 49:1 KJV)