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  1. #1
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    Default Liberty Dollar redux

    Apparently the feds are a bit miffed with the Ron Paul and the Liberty dollar situation and decided to take the next step.

    http://www.abcactionnews.com/news/na...9-996458e4ee09

  2. #2
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    Default Re: Liberty Dollar redux

    This line was odd:
    Quote Quoting Feds raid 'Liberty Dollar' HQ in Indiana
    The U.S. Mint issued a warning this year that the Liberty Dollar violated the Constitution and warned consumers against using them unsuspectingly.
    The actual press release doesn't quite say that.
    Quote Quoting Liberty Dollars Not Legal Tender, United States Mint Warns Consumers
    The advertisements confusingly refer to NORFED "Liberty Dollar" medallions as "legal" and “constitutional." However, under the Constitution (Article I, section 8, clause 5), Congress has the exclusive power to coin money of the United States and to regulate its value. The United States Mint is the only entity in the United States with the lawful authority to mint and issue legal tender United States coins.
    It's lawful to mint collectibles and play money; but to label them as "constitutional", save perhaps in a First Amendment sense, is misleading - and it appears that the purveyors' description was intended to convey more than "This is an expression of our right of free speech."

  3. #3
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    Default Re: Liberty Dollar redux

    typical news reporters.

    they misunderstand or are careless in their interpretation of what was said so in paraphrasing the statement, convey the true idea incorrectly.

  4. #4
    Join Date
    Jul 2007
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    492

    Default Re: Liberty Dollar redux

    Once gold and silver coins are minted, they can be used as tender at the state level as stated in I,10 under the "make any Thing but gold and silver Coin a Tender in payment of Debts;" clause.

    From a historical perspective, the several states once used Spanish pieces of eight and dollars as tender.

    I disagree with the implementation in this instance, but there is a valid argument, from a Constitutional perspective, concerning valid forms of Tender as payment of debts.

  5. #5
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    Default Re: Liberty Dollar redux

    Do you understand the difference between what a state may do and what a private actor may do?

  6. #6
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    Jul 2007
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    Default Re: Liberty Dollar redux

    I wasn't suggesting states mint their own coins.

  7. #7
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    Default Re: Liberty Dollar redux

    No, you were suggesting that individuals can.

  8. #8
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    Jul 2007
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    492

    Default Re: Liberty Dollar redux

    I think the legal fiction of individual (i.e. a corporation, or maybe someone as rich as Gates) could mint collectible coins, and if adopted by a state, could be used as valid tender in the state.

    Emperor Norton may be a facetious example of the activity, except that he didn't use gold or silver.

    I think the issue would be whether or not someone was trying to actually counterfeit legal tender of the state versus creating forms of commodity money that can be used as valid tender for debts.

  9. #9
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    Default Re: Liberty Dollar redux


  10. #10
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    Default Re: Liberty Dollar redux

    Quote Quoting jk
    View Post
    Apparently the feds are a bit miffed with the Ron Paul and the Liberty dollar situation and decided to take the next step.

    http://www.abcactionnews.com/news/na...9-996458e4ee09
    Ron Paul? Didn't he/she perform at the "Fash Bash" in Detroit a few years ago? Wait! Nevermind, that was RUE Paul.

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