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
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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
This line was odd:
The actual press release doesn't quite say that.Quote:
Quoting Feds raid 'Liberty Dollar' HQ in Indiana
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."Quote:
Quoting Liberty Dollars Not Legal Tender, United States Mint Warns Consumers
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.
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.
Do you understand the difference between what a state may do and what a private actor may do?
I wasn't suggesting states mint their own coins.
No, you were suggesting that individuals can.
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.
:rolleyes: