They keep shooting themselves in the foot..the consequences of taking the Ron Paul coins
Submitted by NoFreedom on Sat, 11/17/2007 - 15:33
I keep saying "what goes around, comes around" and they just keep making things worse and worse for the government and better and better for Ron Paul proving what is happening to America. This great article by the Washington Post just came up on the top of a google search. NOW I understand what has happened and I hope that the person that posted the FBI search warrants, raid and the judges orders still has them somewhere because it appears that a "clerk" made a mistake in releasing them and now all of the documents are sealed oops.
http://blog.washingtonpost.com/the-trail/2007/11/16/post_203...
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Bumpity Bump Bump
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I`m gonna be up all
I`m gonna be up all night.This is the topic I`m most passionate about.(I`m probably one of the guys that make RP look like a loon).
This is also the one subject I disagree with Dr. Paul.
Gold and silver as competing currency is great.
ONLY gold and silver,I`m against.
I think paper receipts,redeemable for ANY commodity should be legal to trade.(If I lived in Atlanta right now a note for 1000 gallons of water might be worth more than gold)....my point is the value of any commodity is determined by supply and demand.All commodities have some value...
walter whitt
When did Dr. Paul say ONLY
When did Dr. Paul say ONLY gold and silver? He has said that the state can only coin money based on gold and silver, perhaps, but the right to coin money is not exclusive to the state according to the Constitution. People have a right to use whatever currency they want to in full payment for trade negotiated freely between any parties. I have not heard Ron Paul say anythng against this.
Actually
If you watch the Taft Club video of Ron Paul he explains what ways he will take to help eliminate the Federal Reserve. He can't force it, but he said he was all for legalizing competition in currency. This means you will have BOTH currencies in action, and because Gold and Silver backed currency will have lower interest rates the Fed will lower theirs (to stay competitive)
Ron Paul is a great advocate for free market economics, he will also adhere to the constitution. Therefore, his actions in office will adhere to the constitution so those "radical" issues are really going to be fully implemented maybe by the end of his second term.
Probably this is preacher talking to the choir, but that's what it is. The Taft club meeting video really enlightened me, lots of very memorable moments in that video :)
All in the eyes of the beholder...
I agree. If I want to trade a basket of fresh layen' eggs for let's say a half a hog, the government should have NO part in the transaction. It is no different with gold, silver, copper, hair brushes (first thing that came to mind:) or anything else between consenting parties. Our labor is also considered our own private property to be traded in the form of services and should NOT be taxed, (not constititutional). TRANSPARENT taxation should be left up to the individual states where the citizens ultimately decide, not the federal government. Which brings up the fact that if these Liberty dollars ultimately caught on as a competing currency with the fiat FRN, then the Federal Reserve (private bank) would not be able to charge an inflation tax.
You have to own the water to
You have to own the water to have a contract on it. As a store of value , Gold will certainly buy water.
The fact remains that Gold and Silver are the only constitutional money and paper reciepts for gold and silver. Period.
It isn't Dr. Pauls opinion. It is the constitution.
Even Alan Greenspan said in his book that Gold was the best form of money.
This is my point
This is also where I need help defining "legal tender".This is one point that is in need of discussion.Mineral rights are a bone of contention.
I understand that gold and silver are the only commodities authorized by the Constitution to be legal.
I strongly disagree with your statement that "Gold will certainly buy water" ...you can`t eat gold.
ANY currency is only worth the goods someone is willing to trade for it.
At some point food and water are worth more than all the gold in the world if your family is hungry.
This may sound like a stupid hypothetical...i just rememeber a winter in Sarajevo,I was not there,but it could happen here.
walter whitt
Legal Tender
The term "legal tender" is a private trademark jointly held by the US Treasury and the Fe'ral Reserve.
Wendy's and Burger King can sell hamburgers, but they can't sell "Big Macs". The Liberty Dollar distributed real commodity based money, but they assiduously refrained from calling it "legal tender". Every step of the way, the Liberty Dollar has taken pains to distinguish its product from "legal tender." It's not a generic term, and it is not just another word for "money."
Viva Agora!
LehrBoy
www.citizenduquesne.org
LXXI BC: Ego sum Spartacus // MDCCCLVII: I am Dred Scott // MCMVL: Ich bin Anne Frank // MMX: Je suis Assange // MMXI: Ik ben von NotHaus
Technically, we have that.
If "any commodity" is acceptable then the US is a PetroDollar. Saudi Arabia (and OPEC in tow) only accept USD for oil.
The soon exception may be Iran, wanting only Euros.
There are some dangers to attaching your money to a commodity.
OPEC USD ~Not any more
Saudi Arabia has abandoned the dollar and oil is bought in Euro's. It just hasn't hit the main streem media yet. When they announce it the dollar will really hit a freefall..
Really , A further 50% or more decline in the dollar quickly would really help the cause. It is going to happen sooner or later. Sooner is better.
7 countries have abandoned the dollar. The dollar is already dead as the world currency...
He never suggested...
that we would use physical coins. He has pushed the removal of the capital gains and sales tax from certain commodities (i.e. gold, silver) which would allow them to function as currency. This would allow you to open an account based on a hard commodity at a bank, the same as your checking account.
When you paid for something out of that account, it would function the exact same way as paying US dollars to a Euro country (i.e. instant exchange rate conversion).
The Philosophy Of Liberty -
http://www.jonathangullible.com/mmedia/PoL.English.The.Philo...
You and I have had this discussion before
I guess I`m in favor of a barter system.Right now I can trade currency on the FOREX 24/7.But what do the Yen,Dollar,Euro,Yuan,CAD,Pound,even Peso have in common...they are recognized by central banks.
I don`t want to go to fantasy land here but I must accept the $ as legal for all debts,correct?
I`m being confusing,this subject is so complex my thoughts and my ability to type are not in sync.
Oh so the capital gains taxes mean if I make wise investments the FED is a partner,they share the profits...If I make wrong decicisions,I`m sole proprietor,I eat ALL the losses?(rhetorical,I know this)
I have no idea why monetary policy fires me up...
walter whitt
Funny how that note of
'...And they dared to make a PROFIT... the nerve!' just rings throughout the snitch's affidavit. You mean the profit in shrinking FRNs? This should be an interesting case. The Feds are going to lose no matter what the outcome of the case is, but they certainly deserve to lose the case outright.
The government and FBI will look like fools
Since a clerk accidently released all of the paperwork (oops) then I think that they are running around like chickens with their heads cut off thinking "how the heck are we going to cover this up now?" LOL
God Bless the clerk that messed up, he or she is a true patriot without even realizing it.
NORFED is full of shit...
Okay, I just read the affidavit and NORFED really is a scam. Essentially, it is an alternate currency pegged to FRNs, thus still making it subject to inflation.
Example is they produced "$10" Liberty Dollar -when the spot price of silver went past $10, making the FRN minting price unprofitable, they recalled the $10 coins and re-minted them as $20. Simply there were no more $10 pieces in circulation.
For it to be inflation proof merchants would have two prices: One in Liberty Dollars and the other in FRNs -thus a 10LD would buy the same amount of goods no matter what the FRN spot price of silver is. Instead, it was a system designed to compete directly and replace the Federal Reserve system, instead of being a complementary or alternative system.
If they idea is to have a separate currency that is only subject to the precious metal price, they failed miserably.
NORFED is a scam. Let 'em fry.
One more thing...
Just so you know "FRN" = Federal Reserve Note (i.e., dollar bills put out by the US gov't commonly and erroneously called "money")
I answered this in my other post, but not directly. You acted as if the fac that the face value used to be $10 and was doubled to $20 was a problem. It's not!!!
Silver costs around $14.50 right now (and you have to add about $1.50 to the spot price when you buy it by the ounce for various reasons).
That means if I had any money...even an FRN....any money that has a face value below its INHERENT value WILL NOT BE SPENT. It will be hoarded, meaning it will no longer be used as money...it will become a collector's item rather than money.
This is why you would never spend any type of rare FRN (say, one from the 1930's). Because when you hand it to the cashier, you'll only get $1 worth of goods...but yet if you sold the antique FRN, you'd be getting $3-4 based on its inherent value as a collector's item. Spending it would be LOSING money. Think of a Morgan Dollar. It's an ounce of silver put out by the US gov't some years ago that when the face value was above the inherent value of the silver it contained. Now that the price of silver has gone up (and the value of an FRN has gone way down), no one spends them. They are collector's items.
In the same way, if Liberty Dollar hadn't updated the face value, then the inherent value of the dollar would've been $6 more than the face value, meaning spending it would be an automatic loss...meaning people would've hoarded them and they would've ceased to be money.
RULE: FACE VALUE MUST ALWAYS EXCEED INHERENT VALUE OR ELSE PEOPLE WILL HOARD THEM AND NOT CIRCULATE THEM
"I am a friend of the Free State Project. Check it out...and if you like it, join and continue the effort!" -- Rep. Ron Paul
FreeStateProject.org
"I am a friend of the Free State Project. Check it out, join and continue the effort!" -- Rep. Ron Paul
Yeah, and I bet it was the
Yeah, and I bet it was the FEDs who posted those Liberty dollars on ebay recently; top final bid over $300 for an original $20, and they are probably laughing their asses off right now. You bet I am hanging on to my Ron Paul silver!
IT IS TIME TO TAKE THIS COUNTRY BACK!
"Each of us should choose which course of action we must take; education, conventional political action, or even peaceful civil disobedience to bring about necessary change, but let it not be said that we did nothing" -Ron Paul
http://youtube.com/watch?v=-DqY8iIxe2c
Yep,I agree
Thankyou all for the info.
I would also say that this is why we need to get back to talking about an exchange of goods and services,the reason for which money or notes,currency [a "current" through which something flows],or whatever term one might use,was created. Who determines the gold and silver market? same intl. banking cartel,right?
I say begin focusing on local,community currencies as alternatives/complements,as a way of re-linking currency with goods/services. Gold is only a commodity b/c someone/force deemed it that way[was it really the 'market force'? with a world of consumers,not market forces,that is doubtful]. And gold is only being touted b/c it is at least an outright commodity-but not 'inherently'.
Nothing has inherent value-it is only what we place on it,individually and collectively.
Once people become active market forces again,we will stop being passive consumers of goods,services and information about 'markets'.
Yea,I and a few others had been saying on the liberty dollar threads that they were trying to 'copy' essentially,FRN [money],and this is where the trouble lies. This is why RP says he would 'legalize competition' in currencies,if elected. Implying that they are currently not legal. And this is why alternative currencies can legally co-exist alongside FRN's today in various locations throughout the country. [For those who do not agree that they were copying,pegging,whatever-fine. But they clearly came close enough so as to both get the attention of the feds,and for them to have a case against norfed.Whether this proves true is irrelevant. And I believe that there are many,many ways to go about creating a new economy. It does not need to be the way NORFED is doing it,though of course that is one option. I'm not interested in creating the same type of system/currency,only replacing it with private companies/mints,instead of the goverment via a corporation. That is a lateral trade,in my mind. I want out of that entire way of interacting as a species; it's not free to me. It's a game that is pretty interesting,but not real,ultimately.]
And,I hope NORFED does not think they can also use this 'timing' to their advantage in terms of the RP campaign/supporters.
They can have each other,as far as I'm concerned. Not benefitting us.
It's ridiculous to think that investments are secure. This is a contradiction in terms. So,whoever plays,plays. My belief is that the heart of RP's free market is exchange of goods and services,which is why he speaks of 'entitlements' as a false term for that issue. We are talking about placing value on the creation of another individual or group of individuals. So,hoarding is silly to begin with-regardless of inherent value ratio. [IMHO]
You're technically correct
You're technically correct that things have no "inherent value" since things are only worth what people will give for them. However, when you're talking about money, "inherent value" is a way of differentiating from the "fiat value" or "face value."
Gold is worth something NOT because the government says so...it's worth something because we NEED it to build computer chips, space ships and people like to wear it as jewelry. It's a necessary resource and it's not that common...that's where the value comes from.
"I am a friend of the Free State Project. Check it out...and if you like it, join and continue the effort!" -- Rep. Ron Paul
FreeStateProject.org
"I am a friend of the Free State Project. Check it out, join and continue the effort!" -- Rep. Ron Paul
You mean repurchased.
The value in in the silver content. The $20 silver coin that the FBI said was a copy of current coins and misleading to the public is ridiculous. When you buy a coin, gold, silver, platinum etc, you buy it for the metal content not to go to the store to use it. Get real, I have silver buffalo coins that are worth more that what I paid for them and do you think that I would take a silver $1 buffalo coin to pay for something at the grocery store? When was the last time you saw someone use a $20 silver coin as currency to purchase something? Believe me, I would rather pay a little over $4 extra for a silver coin worth $15 then have an American dollar worth 4cents.
MarylandGuerrilla, try to
MarylandGuerrilla, try to educate yourself before you make claims based solely off of a government prosecutor's cherry-picked, twisted information.
Liberty Dollar is not "pegged" to the FRN. It has a suggested value and, since it has inherent value, whenever the price of an ounce of silver goes above the suggested FRN rate, you can send them in and have the face value updated. The LD is actually a great idea and I hope they get out of this one ok.
While what you're saying about two prices would be the perfect system, we're starting from nothing, so having a suggested FRN value was the best way to go about it. It worked...THAT'S WHY IT IS SO SUCCESSFUL!
Another common argument against the LD is that the silver content is worth less than the suggested FRN value stamped on the coin. This makes sense to anyone who understands money. Even when US Dollar was backed by gold, the price of gold never exceeded the face value...if it did, then people wouldn't spend them because they'd be losing money by spending something worth MORE than face value at face value. So value-backed currency will always have a face value above the price of whatever's backing it. Otherwise it doesn't circulate (which means it ceases to be money). Plus, LD's have value ABOVE AND BEYOND their silver content. First, they are minted in a way that makes them easy to identify as one ounce so that adds value. They are a trusted name so that adds value. The entire process of getting them minted and distributed costs money, etc. This is also true for FRN's (you just never think about it).
"I am a friend of the Free State Project. Check it out...and if you like it, join and continue the effort!" -- Rep. Ron Paul
FreeStateProject.org
"I am a friend of the Free State Project. Check it out, join and continue the effort!" -- Rep. Ron Paul
You owe me an apology.
Look, I actually purchase silver rounds. That's the trade name, and I wouldn't pay $20 for one of these. That's ~$6 over spot. Anybody who actually hordes knows that is way too high. You might pay 65-cents at the most.
This was a system designed specifically to replace the monetary system. Who determines the value of the money -the State. Supreme Court has said so, time and time again.
Thus the assertion "we're starting from nothing" would exemplify their defense that it actually was a barter system and not an intent to undermine the issuance of money -which is a Congressional power as delegated per the Constitution. A merchant pegging his prices to Liberty Dollar would be proof there of.
Example: In 1836 an ounce of gold would get you a nice suit of clothes. The equivalent value (in FRNs) for an ounce of gold will get you a nice suit of clothes today.
Simply a merchant saying I will take 1-ounce of silver for x product, it would be relatively constant. Under a barter system it may go up if there is more silver in circulation, but that's the exception.
It does not do this -as the spot price of silver goes up, so goes the "suggested value" of the coin. Needless to say, for it to be a barter system the printing of a "suggested value" is a non sequitur.
However, to offer a "suggestion price" is an attempt to fix the price of goods and undermine the elected US Congress (i.e. "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
"To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;").
Unlike you, I'm not going to insult your intelligence nor claim to be familiar with your background -but you're assertion that the silver/gold certificates being worth less than their "actual" value is a bit flawed.
Please refer to the The Michigan Act (1837). It stipulates that banks can print their own money as long as their certificate is backed by a fixed-weight of gold. That is the certificate was a 1:1 ratio. You could actually go to those banks and get the amount promised on the note. The same was held true during the follow on National Banking Act (1863). If you so desired, you could get the precious metal. You weren't given 80% of the amount promised, but the full amount.
Now, I'm not going to bore you with other details, but I do expect a full and unabridged apology from you concerning the "educate yourself" comment.
Sorry for the "educate
Sorry for the "educate yourself" comment. I didn't mean to be condescending.
As you say, an ounce of gold will buy you the same thing today (roughly) as it would 100 years ago. The "suggested retail value" going up as inflation goes up is simply a way of making that truth understandable to the masses.
I really like the Liberty Dollar. I hope they make it out of this ok.
"I am a friend of the Free State Project. Check it out...and if you like it, join and continue the effort!" -- Rep. Ron Paul
FreeStateProject.org
"I am a friend of the Free State Project. Check it out, join and continue the effort!" -- Rep. Ron Paul
No Apology is Due
"Supreme Court has said so..."
Ah yes, the ultimate end to any legal argument. Tell it to Dred Scot.
I hope that no one EVER apologizes to anyone for advising them to educate themselves. We ALL need more education. Enrich yourself is always good advice.
Viva Agora!
LehrBoy
www.citizenduquesne.org
LXXI BC: Ego sum Spartacus // MDCCCLVII: I am Dred Scott // MCMVL: Ich bin Anne Frank // MMX: Je suis Assange // MMXI: Ik ben von NotHaus
from the article
But the coins have been another rallying point for Paul's supporters, who have asked Paul to pose for photographs with the coins on the campaign trail. Jim Forsythe, a Paul organizer in New Hampshire who ordered 150 of the copper Ron Paul dollars, said yesterday that the seizure of the coins would likely fuel more support for Paul, who scores close to double-digits in some New Hampshire polls. "People are pretty upset about this," he said. "The dollar is going down the tubes and this is something that can protect the value of their money and the Federal Reserve is threatened by that. It'll definitely fire people up."
I'll do you one better.
I'll supply everyone with a copy of the documents.
Click Me for your own personal copy of the documents.
More Documents
http://www.libertydollar.org/legal/pdf/paper_legal.pdf
http://www.libertydollar.org/legal/pdf/search_warrent_200711...
http://www.libertydollar.org/legal/pdf/seizure_warrent_20071...
http://www.libertydollar.org/legal/pdf/agent_info_20071114.pdf
Gotta love it!
Great job, I'm going to print them out and hide them lol