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Felony Friday: Counterfeiters Could Destroy The State

One sure-fire way to end up being charged with a felony is by competing with a monopoly that is run by the State. Crimes against the State are always pursued aggressively and punished to the highest letter of the law. Creating copies of the only approved fiat currency ranks at the top of the list.

The State does not tolerate counterfeiting of Federal Reserve Notes. The creation of competing fiat currencies would lift the veil of magic that cloaks the shady operations of the central bank and expose the fraudulent system. The masses would quickly realize that the emperor has no clothes. This will be discussed later.

First let’s review a recent case of alleged counterfeiting charges brought against eight suspects in High Point, North Carolina. WFMY News 2 reports the suspects have been charged with two state counts of felony counterfeiting and will probably face federal charges.

When it comes to counterfeiting the Secret Service almost always gets involved. The federal agency that most people think is primarily tasked with protecting the President and world leaders actually had a different singular focus when founded. The reason the Secret Service was created in 1865 was solely to suppress counterfeiting of U.S. currency.

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This article is also wrong on what is accepted as legal tender.

ALL coins ever issued by the U.S. Mint are legal tender, even those coined in 1791.

Yes, ALL silver and gold coins are still legal tender, and will still be accepted by the U.S. government in payment of debt and taxes.

Now, no fool would try to pay with such money when fiat currency is so readily available, because the government will only accept silver and gold coins for face value. Since fiat currency has caused inflated values for taxes and debts, it would be foolish to try to pay face value silver or gold in an attempt to pay those taxes and debts - you would never get actual value for them.

Perhaps you should do a little research on Robert Kahre.

A guy who paid his employees in gold coin, a court in silver coin, and endured two prosecutions for tax evasion arguing market value of the coins being higher than face value.

Here is a link to articles with plenty of keywords to aid your search:

http://www.wethepeoplefoundation.org/update/update2007-09-30...

http://www.lewrockwell.com/2011/12/kevin-brekke/legal-tender...

It is understandable if people never heard about him since the media didn't cover it 24/7 like other circus trials.

He did not go to jail for paying the coins.

He went to jail because he kept two sets of books and "bought" the coins back from those he paid them to with FRNs.

He was clearly running a scam, though I'm sure he thought he was doing something good.

The coins ARE legal tender but ONLY for face value. Since current prices are NOT accurately stated in real dollars, one would be a fool to pay a silver or gold coin to anyone for goods or services without a steep "discount" for using that method of payment.

Accepting gold and silver CAN be done legally without running afoul of the IRS, but it requires that you mark the receipt of the coins for face, and that you use them at face. If you offer an acceptable discount to someone paying you, you can provide comparable value for the specie. You then book the coins at face, and will show a "loss" on the transaction. The kicker is to then do the same with people you buy with when you spend those coins.

The IRS can't require 'market value" booking. But they can sue you for booking at face value when it lowers your tax bill, but market value when it inflates your assets. You have to pick ONE value method and stick with it for all purposes and for all accounts.

You also don't want to "sell" the coins for FRNs, because then whatever advantage you gained by showing a loss on a steep discount sale, you lose by realizing a gain on the "sale" of the coins. The key is to use them in trade both ways - at face, but for value.

RE: "He went to jail because ... "

" ... he kept two sets of books and "bought" the coins back from those he paid them to with FRNs."

Excerpt from a garden variety report of the second trial:

"The jury found that Robert and Lori Kahre devised and used a payroll scheme that concealed and disguised the true amount of income received by his employees and the employees of the companies for which he provided payroll services. Robert Kahre maintained an office at 6270 Kimberly Avenue in Las Vegas where he claimed to pay employees in gold or silver coins, but which were actually immediately exchanged for pre-determined envelopes of cash. The face amount of the coins was one-eighth the amount of pay that the employee actually earned and received in the cash envelope."

I offer to pay you in gold coins at face value. You receive the coin. I then offer (or offer separately in advance) to trade the coin you just received for Federal Reserve Notes and you agree. It is two transactions if possession of the gold coin changes hands twice.

Dollars have an acquisition cost which differs based on the form. Gold coin (market value) or Federal Reserve Notes (interest). However one dollar spent is valued at one dollar irregardless of the form.

You might as well be shilling for the establishment with your accounting argument.

Note

I have added your note to the article. Thanks for pointing that out.

You are correct

Gold and silver issued by the US mint would be accepted at face value. Only a fool would every do this though, but this country is full of fools.
Thanks for reading.

Created in 1965?! Thats wrong

The Secret Service was created much earlier than 1965. In fact that is very likely a typo because they were created in 1865.

To climb the mountain, you must believe you can.

Typo

Yes, it appears it was a typo, and it's now fixed- thanks for catching it!

http://lionsofliberty.com/
*Advancing the Ideas of Liberty Daily*

Thanks

Virginian, Thank you for catching my typo. It has been corrected. The 8 and 9 keys are too damn close.