In an interview today, Schiff said he expects that the federal raid on the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code had added more weight to his argument for giving to the Paul campaign. “The federal government is debasing the currency and then it comes in and punishes people who are doing something to protect themselves,” he said. “The fact that these guys would come in and raid this organization shows how much they’ve got to fear from this. If more and more people start shunning the currency, it takes away from their power.”…

Fiatt currency is a sham. It’s principal benefit in use would seem to be that it allows people to control other people. If poorer citizens look like they’re getting ahead a little, just print more money – devaluing what they have and bingo, they’re right back in their place where they “belong”.. or worse. Fiatt currency should be illegal. And the guys printing it should be in jail istead of using the IOUS of no worth in real terms to buy real things.

Now, what is really going on here? Simple. Hard currency destabilizes fiatt currency. It is a direct threat. It’s like standing a charlatain next to a real salesman, one claiming to have a detergent that cleans while the other demonstrates that his detergent does what he claims. The real salesman puts the charlatain instantly out of business. If hard currency were allowed to gain a foothold next to “US” federal reserve currency, the fed dollars would devalue like WWII german Reich marks. Why? Because reserve notes have no intrensic worth other than the claim that they are worth something. You can’t devalue hard currency by making more of it. There is either enough in specie to back it or there is not. So long as there is, the money is worth what is says it’s worth. Period. If more is minted tomorrow, your coin/bill is still worth exactly what it was before printing. If the fed prints more FRNS tomorrow, your FRNS lose worth. So with hard currency, your currency reflects the work you put forth to earn it. With Reserve notes, your currency is worth a fraction of the number of notes circulated. If more are printed, your labor is devalued by default. You can work as hard as you want for all the raises you can accumulate, and in the end, all the fed has to do is print more bills and all your effort is rendered moot.

Theorists would argue that it’s more complex than this; but, pinning them down largely debunks the pretense. Paul is right in wanting the fed disassembled and thrown on the ash heap. What they’ve done is nothing short of a crime and should be reviled as just that. Bottom line, this hard currency company was shut down and bullied in attempt to cow people into submission. It’s the robber barons vs. the law-abiding folk again. We need a William H. Bonnie, folks. Badly!

They are used because of legal tender laws & tradition/transition from the
period of gold and silver money.

There’s as much chance of convincing a clerk or small business owner
of taking ALDs as there is in convincing them to take #10 washers.

Whoever accepted them as this stage in the life of the ALD is bringing
some kind of discretion to the transaction.

Certain benefits accrue to the creators of succesful monetary products
whether it’s the benefit the U.S. derives as the creator of world’s
reserve currency, banks derive from creating loans above the amount
of actual funds on hand and even Mr. Von NotHaus for creating a competing
medium of exchange.

I wish people would actually read the constitution it would make it a lot easier to see when you are being lied to and scammed by the government.

United States of America Constitution
Article 1 Section 8 Clause 5
Powers of Congress
http://en.wikipedia.org/wiki/Article_One_of_the_United_States_Constitution#Section_8:_Powers_of_Congress

Section 8: The Congress shall have power
To coin money, regulate the value thereof

There is absolutely nothing in there giving Congress the EXCLUSIVE right to coin money as is claimed in that seizure warrant.

So if I’m selling a car and tell someone it has 400 horsepower when it only has 300, and he agrees to buy it (based on my claim), that’s not fraud? Because that’s the same as giving someone Liberties and claiming they are of the same (market) value as USD, when von Nothaus has specifically designed them such that they are always denominated to be worth less than their face value in USD.

And, if there’s any doubt that you can exchange the Liberty Dollar for government money, go to Ebay and see what the Ron Paul coins are selling for. They were selling for $170 each last night.

Okay, so let’s say I’m a Liberty Dollar customer. I take my $20 Liberty into a store, and I tell the clerk “it’s just like real dollars, only backed by silver instead of backed by nothing.” The price on the item I’m buying is $20, so the clerk accepts it.

Then the clerk goes to redeem the $20 Liberty for $20 USD. Or, I should say the clerk ATTEMPTS to do so, because there are very strict limits on convertability. Oh, and the clerk won’t get $20 USD, because according to the site, since it is distributed at a discount it must be redeemed with a discount.

So let’s see, a clerk has sold me an item for $20 USD, only I gave her a $20 Liberty. She wants to redeem that $20 Liberty, but she won’t get $20 USD.

How is that not fraudulent? How would that not be stealing from the clerk (offering “$20″ for a $20 USD item, when not actually giving her something that she can redeem for $20 USD)?

And you’re confusing commodity values with commodities as a medium of exchange.

There are pieces silver jewelry that people are willing to pay much more for than if that were melted into a non-descript blob.

Worth is subjective, based on any of various factors, such as beauty, exclusivity, cachet, usefulness, and so on.

The Liberty Dollar can indeed to be used as money. It has been in use as money. That’s a given. I don’t see any dishonesty.

Worth may be subjective, but the LD group was trying to claim that LD’s are equivalent in value to Federal Reserve Notes and that they should be accepted as such. So that people were not “buying” Liberty Dollars so much as they were acquiring a currency they would then purport to use to purchase goods and services.

That’s entirely different.

I am commenting on the legal merits of whatever claims may exist against LD and its founders, not engaging in philosophical debates.

I didn’t say I agreed with those laws, but those are the laws on the books.