Liberty Dollar office raided

[Zygote]

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My guess is the feds will either accuse these guys of defrauding customers -- because I'm taking a shot in the dark that Liberty Dollar currency, while 'backed with a metal', probably does not have a value anywhere close to its claimed specie content; obviously there's going to be a markup, but who knows, the feds might claim there's fraud going on here -- and I suppose the mail fraud charge is because Liberty Dollar is using the US Postal Service to engage in that fraud (

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No matter how much they were doing any of this, and still no reason to believe they were, there is no comparison to be made to the extent our "legal" banking system engages in this practice with the most utmost government protection.

If you started a truly fraud free currency, would you stop fearing the FBI?

[Zygote]

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“I see this as a golden opportunity to go into court and vindicate the Liberty Dollar as being legal and being the solution to our great country’s monetary problems,” von NotHaus said. “This is going to be a big trial. We’re going to be putting Evansville on the map. Because money is going to be on trial right there in Evansville.”

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[TomVeil]

EVANSVILLE, Ind. - Federal agents raided the headquarters of a group that produces illegal currency and puts it in circulation, seizing gold, silver and two tons of copper coins featuring Republican presidential candidate Ron Paul.

Full article: http://www.msnbc.msn.com/id/21836699/

[AlexM]

[ QUOTE ]
EVANSVILLE, Ind. - Federal agents raided the headquarters of a group that produces illegal currency and puts it in circulation, seizing gold, silver and two tons of copper coins featuring Republican presidential candidate Ron Paul.

Full article: http://www.msnbc.msn.com/id/21836699/

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Go go media bias!

[maxtower]

I looked over the Liberty Dollar site, and it seemed kind of scammy to me. Fine if you want a Ron Paul coin for your collection, but otherwise completely impractical.
1. You can't spend them anywhere. I wouldn't do as they suggested and pass it off as real currency.
2. Buying bullion off ebay is a much cheaper way of obtaining the underlying metal.
3. If the value of the coin did diverge from the dollar amount, you are supposed to pay taxes on the gain once you sold it.

Practical alternative currencies could easily exist if taxes were eliminated on gold gains. You could get an account at goldmoney.com or e-gold, and then get a debit card which links to that account. Whenever you get paid just deposit the money into your gold backed account. Then buy everything you need with your debit card which would do the conversion automatically when you go to spend the money in whatever country you are in. Its not really practical to do this now, because you'll end up paying taxes on the gains whenever you go to spend the money.

[ZeroPointMachine]

Here's the original email.

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Dear Liberty Dollar Supporters:

I sincerely regret to inform you that about 8:00 this morning a dozen FBI and Secret Service agents raided the Liberty Dollar office in Evansville.

For approximately six hours they took all the gold, all the silver, all the platinum and almost two tons of Ron Paul Dollars that where just delivered last Friday. They also took all the files, all the computers and froze our bank accounts.

We have no money. We have no products. We have no records to even know what was ordered or what you are owed. We have nothing but the will to push forward and overcome this massive assault on our liberty and our right to have real money as defined by the US Constitution. We should not to be defrauded by the fake government money.

But to make matters worse, all the gold and silver that backs up the paper certificates and digital currency held in the vault at Sunshine Mint has also been confiscated. Even the dies for mint the Gold and Silver Libertys have been taken.

This in spite of the fact that Edmond C. Moy, the Director of the Mint, acknowledged in a letter to a US Senator that the paper certificates did not violate Section 486 and were not illegal. But the FBI and Services took all the paper currency too.

The possibility of such action was the reason the Liberty Dollar was designed so that the vast majority of the money was in specie form and in the people?s hands. Of the $20 million Liberty Dollars, only about a million is in paper or digital form.

I regret that if you are due an order. It may be some time until it will be filled... if ever... it now all depends on our actions.

Everyone who has an unfulfilled order or has digital or paper currency should band together for a class action suit and demand redemption. We cannot allow the government to steal our money! Please don?t let this happen!!! Many of you read the articles quoting the government and Federal Reserve officials that the Liberty Dollar was legal. You did nothing wrong. You are legally entitled to your property. Let us use this terrible act to band together and further our goal ? to return America to a value based currency.

Please forward this important Alert... so everyone who possess or use the Liberty Dollar is aware of the situation.

Please click HERE to sign up for the class action lawsuit and get your property back!
If the above link does not work you can access the page by copying the following into your web browser. http://www.libertydol...
Thanks again for your support at this darkest time as the damn government and their dollar sinks to a new low.

Bernard von NotHaus

Monetary Architect


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[Kirkland]

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I would guess that, in light of the upcomming inflation of the US dollar, the government will do whatever it can to squash private money. Otherwise, it won't be long before no one is using US dollars.

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This is correct, this raid is nothing more than naked intimidation.

I've read about Liberty Dollars before, and while I don't remember much detail about them, I do remember that they are clearly for suckers. You are much better off buying gold or silver bullion.

On the other hand, it's exciting to see a private currency company have enough success to get the honor of being raided by the FBI.

[Scary_Tiger]

[ QUOTE ]
[ QUOTE ]
I would guess that, in light of the upcomming inflation of the US dollar, the government will do whatever it can to squash private money. Otherwise, it won't be long before no one is using US dollars.

[/ QUOTE ]

This is correct, this raid is nothing more than naked intimidation.

I've read about Federal Reserve Notes before, and while I don't remember much detail about them, I do remember that they are clearly for suckers. You are much better off buying gold or silver bullion.

On the other hand, it's exciting to see a private currency company have enough success to get the honor of being raided by the FBI.

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[Borodog]

I would just like to say that all those who participated in this raid are evil [censored], and they deserve . . . what evil people deserve.

[Scary_Tiger]

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I would just like to say that all those who participated in this raid are doing their job, and they deserve . . . their paychecks in federal reserve notes.

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