Liberty Dollars Seized

FBI has confiscated all assets including all gold & silver plus all computer records from www.libertydollar.org!

Here is from libertydollar.org:

Friday, November 16, 2007: Make no mistake, the FBI and Secret Service raid on the Liberty Dollar at 8:00 AM on Wednesday, was a direct assault against the US Constitution and your right to own and use gold and silver in any way you chose.

When I first heard about this news, I was stunned. Feels like the USA government is on the move of “terminating its opponents” by force. After some more studies about the Liberty Dollars, I retracted my original thoughts. I think Bernard von NotHaus who is at LibertyDollar.org is going a little bit too far.

What is Liberty Dollar? It’s actually a pseudo-currency issued by LibertyDollar, intended to replace the US dollar circulation. It is a “currency” (if you think it is) backed by real silvers. Of course, with every monetary scam (and you may or may not include US Fed), the paper money is issued at a premium over the hard assets. The liberty dollar was issued at about 50% premium over the spot silver, about $10 for every $7 (1 ounce) of silver. And there are actually real merchants and consumers willing to take these pseudo-currency.

I would not have any problems if they were simply minting a different silver dollar like the silver eagles. But issuing a different paper currency is going too far. Certainly US or any other government would not allow such things to go on for too long, or else it will undermine their monetary monopoly.

In any case, back in my mind, I am a little worried about all the US gold/silver coins that I have (well, actually it’s too little amount to be worried). I would prefer holding Canadian coins than US coins at this point, as long as the Amero talked about by Puplava does not materialized (Amero is a new currency supposedly in plan, for the American continent, merging Canadians, Mexican Pesos, and US dollars). I don’t know whether USA government would one day claim that all the US minted coins are the properties of US, and/or claiming that all the silver dollars are worth simply “One Dollar” as printed on the coin. Don’t think such things would happen, and hope not, but just in case, I would get gold & silver dollars from other countries. They are a little cheaper anyway, and possibly this premium will be reversed in the future over the US coins.

Maybe in the distant future, the government currencies will be back by real hard assets. In the meantime, I suggest holding some hard assets yourself. And I certainly don’t think you should buy any Liberty Dollars. Why trust anyone else when you can trust the coins in your own hands?

P.S. By the way, customers at goldmoney.com have been cut off check-writing privileges from the bank used by goldmoney.com for no reason. Just another data point to think about.

Check Before You Buy Electronics From Costco

I’ve compared the prices on electronics many times. Costco quite often disappoints me. I really expect better pricing from Costco.

Here are some examples:
1. JVC GZ-MG155US HDD 30GB camcorder at my local Costco is selling for $489.99, but the cheapest price from the internet is $329. That is $170 price difference, or some 35% of the total.
2. Sony DCR-SR82 HDD 60GB camcorder at my local Costco is selling for $599.99, but the cheapest price from the internet is $295. That is about $300 price difference, or some 50% of the total.

This is not to mention all those SD memory cards, DVD-R/+R media which are constantly over-priced by a tremendous amount. It’s really hard to imagine who are buying those over-priced products, but I guess there are simply people with more money or less time to price-shop than I do.

Certainly Costco has a very good return policy. But for such a steep price difference, I really need to think twice. There is probably a very good reason why the stock price of Costco is near its all time high at $66.80. Don’t you think that it could be due to all the shoppers paying for Costco’s bottomline?

Most people probably expect a deal when walking into Costco. I’m afraid that maybe the reverse is true.