Liberty Dollars Seized
FBI has confiscated all assets including all gold & silver plus all computer records from www.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.