Liberty Dollar office raided

[NasEscobar]

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OK, let's hear it. Pros/cons of private currency in the US today.

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How about you let people make decisions for themselves instead of granting government the right to be act as a fascist nanny.

[PLOlover]

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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, "Lib

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it's just a total effort to keep the monopoly the powers have on money.

it's pretty clear that statute applies to counterfeiting not somethingn like the liberty dollar.

what that means is that liberty dollar guys can ultimately win in court almost certainly if that is it (maybe patriot act and stuff might make stuff like this semi illegal money laundering or someting though),

but the big boys have decided to put them through the wringer figuring they can nip this in the bud through force fraud and intimidation (isn't that terrorism?), kinda like the job they did on e-gold.

[Copernicus]

"it's pretty clear that statute applies to counterfeiting not somethingn like the liberty dollar."

Uhhh no its not, since there are other statutes that deal with counterfeiting.

[PLOlover]

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"it's pretty clear that statute applies to counterfeiting not somethingn like the liberty dollar."

Uhhh no its not, since there are other statutes that deal with counterfeiting.

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I'm just talkking about § 486, it's talking abuot counterfeiting, go up one level to chapter 25.

http://www4.law.cornell.edu/uscode/18/486.html

[iron81]

I guess I'm going to have to stop posting the link to their website as proof that alternate currencies are legal. [img]/images/graemlins/blush.gif[/img] Although, given the similarities their currency has to dollars, it could be argued they were counterfeiting.

[DVaut1]

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I guess I'm going to have to stop posting the link to their website as proof that alternate currencies are legal. [img]/images/graemlins/blush.gif[/img]

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We don't really know why the FBI raided the office; it may not be because the FBI is asserting that alternate currencies are illegal. Second, the raid is obviously going to be challenged, so the FBI is going to have to defend itself and it's decision to raid.

In other words, I'm not sure why we're automatically concluding that alternative currencies are illegal merely because the FBI raided this office. It's just as possible these guys were defrauding their customers or failing to pay their taxes, or were suspected of violating some other law. Or maybe the feds got over aggressive.

[tolbiny]

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Although, given the similarities their currency has to dollars, it could be argued they were counterfeiting.

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I don't think you know what counterfiting means.

[2/325Falcon]

Interesting Wiki on Boggs notes. I think I saw this guy on a PBS special on counterfeiting. I was shocked people would take his hand drawn art as money, but it turns out to be a good deal.

[iron81]

It just occurred to me that this might be a good thing for libertarians. A big part of what allowed the Administration to get away with things like datamining is that no one wanted to go to court to stop them. The case law was ambiguous so people would just cooperate rather than fight. If this winds up in court and the government loses, it will bring publicity to the cause of private money and establish its legality.

[ianlippert]

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I guess I'm going to have to stop posting the link to their website as proof that alternate currencies are legal. [img]/images/graemlins/blush.gif[/img] Although, given the similarities their currency has to dollars, it could be argued they were counterfeiting.

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Is private tender legal or illegal in the US? Alot of times during currency debates, people claim that it is legal. I'm confused [img]/images/graemlins/confused.gif[/img]