Posted on 02/13/2003 11:08:05 AM PST by BlackJack
A small company in the Ozarks is offering business the opportunity to bring Silver Money back into circulation, and has chosen NORFED’s Liberty Dollars for its vehicle. Ozark Monetary Services of Berryville, Arkansas, has created a program that ensures that any business that accepts Liberty Dollars cannot lose money for doing so… and it’s gaining popularity across the country, with some potentially heavy hitters looking it over closely.
OMS Spokesman David Cato confirms that the company has had discussions with a couple of nationally known marketing giants, but declined to offer specifics.
“What we’re doing is promoting the program to all businesses, and it’s so simple that it’s basically a no-brainer,” says David. “Any business that signs up for the program agrees to accept Liberty Dollars, and return them to their customers in change.
This results in two things happening: first, the customer will in all likelihood return to the store to spend the money again, and other customers who hear about the new money will come to learn more and get some for themselves. For each Liberty Dollar given out in change, the merchant retains a dollar in Federal Reserve money, what we’re all used to.”
Asked about the possibility of merchants being overwhelmed by Liberty Dollars, which can be traded with customers, but can’t be deposited to most banks or used to pay government debts, David explained, “That’s what the OMS Program is all about; anytime they get too many to keep in local circulation, OMS will buy their Liberty Dollars back from them at full face value.”
The community benefits, as well, since OMS and others who promote the Liberty Dollar will occasionally offer the local public the opportunity to exchange their regular money for Liberty Dollars at a discount, gaining as much as ten percent in spendable value on the amount they choose to exchange!
Christmas and other holidays, as well as graduation time, are likely candidates for the special exchanges. The result is an increase in sales, and thereby an increase in profits, for those businesses who participate in the program, and there are even ways for merchants to purchase them at discount in order to make even more money while making change.
Liberty Dollars are paper “Silver Certificates” which are backed by silver, and there’s even a solid silver ten-dollar “Silver Liberty” piece. Merchants subscribing to the program can accept either the Silver Liberty, or the Liberty Dollar Silver Certificate, which is similar to the “bills” we’re accustomed to and more easily carried around. Either way, customers are almost certain to return to where they got the new money when they need something that merchant sells, so customer loyalty is a direct result of the program.
As for cost, there isn’t any. Merchants can sign up without any cost, and enjoy all of the benefits and guarantees, which are made in writing.
“This isn’t about making money,” says David, “although that’s one benefit of it, and the merchants who participate will see some pretty impressive increases in their sales and profits. What it’s really about is getting real value back into the hands of the American People, and making that value an exchangeable commodity in today’s marketplace.”
Interested businesses can contact OMS at 877-561-7263, or by email at:
alfii@cox-internet.com. OMS is a spin-off and partner of ALFII.com, the online financial-privacy club that offers alternatives to conventional banking, even down to an anonymous MasterCard and a way to replace your existing checking account.
You mean I could use 1 oz of silver to buy 2 oz of silver?
And then take those 2 oz of silver to buy 4 oz of silver?
And so on and so on?
Cool!
They're "worth" what someone is willing to give you in exchange for one. Right?
Great Dealer with very low prices for Gold & Silver!!!
No. Is that a prerequisite for buying these silver tokens?
Huh? I guess you didn't read the story.
Sounds like perfect compliance to me. :^}
Since NORFED doesn't have control of the relationship between the price of silver and the value of the US dollar, like the government used to (defining the dollar in terms of a specific weight of silver), the $10 face value is a simple way for the Silver Liberty to circulate in concert with the US dollar while the price of silver in US dollars floats in various directions.
Its market value as silver bullion is not the point. It's market value as currency is the point.
Do you think they'll give me credit for some of the classes I took when I earned my MBA?
NORFED’s "Liberty Dollars" The National Organization for the Repeal of the Federal Reserve Act and the Internal Revenue Code (NORFED) is producing and marketing gold and silver medallions that NORFED calls "Liberty Dollars." The United States Mint and the United States Department of Justice have received inquiries regarding the legality of these so-called "Liberty Dollar" medallions. The United States Mint urges consumers who are considering the purchase or use of these items to be aware that they are not genuine United States Mint bullion coins and they are not legal tender. These medallions are privately produced products and are not backed by, nor affiliated in any way with, the United States Government. Moreover, prosecutors with the Department of Justice have determined that the use of these gold and silver NORFED "Liberty Dollar" medallions as circulating money is a Federal crime.Consumers may find advertisements for these medallions confusing and should take note of several issues related to them.
First, the advertisements refer to the product as "real money" and "currency." These medallions might look like real money because they—
- Bear the inscriptions, "Liberty," "Dollars," "Trust in God" (similar to "In God We Trust"), and "USA" (similar to "United States of America"), and an inscription purporting to denote the year of production; and
- Depict images that are similar to United States coins, such as the torch on the reverses of the current dime coin, 1986 Statute of Liberty commemorative silver dollar and 1993 Bill of Rights commemorative half-dollar, and the Liberty Head designs on the obverses of United States gold coins from the mid-1800s to the early 1900s.
However, despite their misleading appearance, NORFED "Liberty Dollar" medallions are not genuine United States Mint coins and they are not legal tender.
Second, the advertisements confusingly refer to NORFED "Liberty Dollar" medallions as "legal" and "constitutional." However, under the Constitution ( Article I, section 8, clause 5 ), Congress has the exclusive power to coin money of the United States and to regulate its value. By statute ( 31 U.S.C. § 5112(a) ), Congress specifies the coins that the Secretary of the Treasury is authorized to mint and issue and requires the Secretary to carry out these duties at the United States Mint (31 U.S.C. § 5131). Accordingly, the United States Mint is the only entity in the United States with the lawful authority to mint and issue legal tender United States coins.
Under 18 U.S.C. § 486, it is a Federal crime to utter or pass, or attempt to utter or pass, any coins of gold or silver intended for use as current money except as authorized by law. According to the NORFED website, "Liberty merchants" are encouraged to accept NORFED "Liberty Dollar" medallions and offer them as change in sales transactions of merchandise or services. Further, NORFED tells "Liberty associates" that they can earn money by obtaining NORFED "Liberty Dollar" medallions at a discount and then can "spend [them] into circulation." Therefore, NORFED’s "Liberty Dollar" medallions are specifically intended to be used as current money in order to limit reliance on, and to compete with the circulating coinage of the United States. Consequently, prosecutors with the United States Department of Justice have concluded that the use of NORFED’s "Liberty Dollar" medallions violates 18 U.S.C. § 486.
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