Justice Department states use of Liberty Dollar is a crime

anoldgoat

Link

mnmcoin

I am confused, are they talking about ASEs?

morris <><

robertpr

No, they're talking about this crap.

zenny

Bernard von Not Haus??????????????



awful close to, oh, never mind......

pharmer

Circulating them is illegal, but not making them and "confusingly" inferring they are legal and constitutional. Yeah, that'll put a stop to the scam. Sounds like Bernie's gonna do OK.

Coinosaurus

IF (and that is one huge IF) this paper is truly backed by precious metal, and freely exchangable for same, I could see these getting popular.

However, in 99% of such schemes I have read about, the metal doesn't really exist. It's the old, "we'll store your gold for you where it is safe" story.

Conder101

I have to admit I thought they could be legally passed but they are right. After reading Title 18 Sec 486 I would have to agree they are illegal, as are any metal token such as video game tokens, the metal Casio tokens or any other type of metal token. On the other hand the Norfed paper money does NOT violate Title 18 Sec 486 as that sec only related to metal issues. Sec 487 does deal with paper or plastic issues, but it only makes them illegal if used with intent to defraud. (Sec 486 and the metal coins does not restrict it to use with fraudulent intent. ANY use is illegal.) So there is no law that says you have to use legal tender, but they do seem or are trying to make it illegal to use anything else.

They are wrong about one thing though, Article 1 Section 8 clause 5 of the Constitution does not give Congress the exclusive right to coin (create) money. It gives Congress that right and forbids it to the individual states, but it does not forbid the individual citizens from doing so. (The Constitution is a document that defines which governmental powers the Federal government has and which the States have. It does not get specificly into what powers individual citizens have.)

500Bay

They are being careful to state that the "coins" are illegal, and not mentioning the notes that represent silver/gold. The Constitution only mentions coins, nothing about notes.

Conder101

The Constitution mentions money, "to coin" means to create Congress was given the power to create money and regulate its value.

ziggy29

Let's see here.

Private citizens can't create "money" even if backed by precious metals but the government can produce money by fiat.

Private citizens are prohibited from selling Ponzi schemes for "consumer protection" but the government does it and calls it "Social Security."

Private businesses are prohibited from holding the descendants of debtors liable for the debts of their ancestors, but in "deficit spending" and the "national debt" the government does just that -- holds future generations financially liable for the "national charge card" used by their ancestors.

Do as I say, not as I do?