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Liberty dollar, inflation, & the fed

SmilinSilhouette

Registered Member
Today I bought a 2003 one ounce silver "liberty" ten dollar coin. I paid $40 for it. The founder of the company that minted the coin was convicted recently and is facing up to 25 years in prison.

Liberty Dollar creator convicted in federal court | The Asheville Citizen-Times | citizen-times.com

In 2003 one ounce of .999 pure silver was worth less than $10. Now the value of one ounce is about $38. That ought to tell you something about the value of the paper money issued by the private "federal" reserve bank.

Who is the criminal? Who is the "domestic terrorist"?
 

dDave

Well-Known Member
V.I.P.
I was actually looking into buying some of those along with some other types of coins.

Keep in mind that collectors cause the value of a lot of coins to go way up.

Consider the 1909-S VDB minted Lincoln Cent, it sells for over $2000 nowadays, wait... but it's just a penny. (yeah I thought the same thing)

I was actually considering getting some though, the problem is that we never know how high the price will go or if it will drop.
 

SmilinSilhouette

Registered Member
The price of silver will continue to rise. You see, right now they are printing and adding to circulation $600,000,000,000 in paper currency. The value of silver remains the same, 1oz of silver = 1oz of silver. The number of dollars is what changes. I paid $2 over the spot price of silver for that coin. The $2 was the only profit to the seller. The coin, or shape of the silver had no bearing on the price.

The funny thing is the coin seller had no idea that the maker of the coin is now in jail. When I told him he took ten of the coins out for his personal collection.
 
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dDave

Well-Known Member
V.I.P.
The price of silver will continue to rise. You see, right now they are printing and adding to circulation $600,000,000,000 in paper currency. The value of silver remains the same, 1oz of silver = 1oz of silver. The number of dollars is what changes. I paid $2 over the spot price of silver for that coin. The $2 was the only profit to the seller. The coin, or shape of the silver had no bearing on the price.

The funny thing is the coin seller had no idea that the maker of the coin is now in jail. When I told him he took ten of the coins out for his personal collection.
Liberty Dollar - Wikipedia, the free encyclopedia

Yeah that guy (I had to do some research because I did not know that) apparently it was only 2 weeks ago.

Well I might try and get a few, but I'm sure that the shape of the coin does matter to some extent.

Where does the guy live? I want to buy his 10! :lol:
 

SmilinSilhouette

Registered Member
He has more in his box, I might go back tomorrow and buy ten more.
 

SmilinSilhouette

Registered Member
http://www.citizen-times.com/articl...-trial?odyssey=tab|mostpopular|text|FRONTPAGE

So now the government wants to seize the gold and silver that is contractually obligated to the holders of "liberty dollars".

It would seem the objective here is to send the message "don't mess with the privately owned "federal" reserve bank". They can have you imprisoned and take your gold and silver.

Constitution, rule of law, and LIBERTY BE DAMNED!
 
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CaptainObvious

Embrace the Suck
V.I.P.
I'm torn to some extent on this issue.

First off, under the Constitution, under Article I sec. 8 the federal government has the power to "coin money, regulate the Value thereof, and of foreign Coin..." that power is exclusive. Under Article I sec. 10 the states are not permitted to "coin Money; emit Bills of Credit; make any thing but gold or silver Coin a Tender in Payment of Debts".

However, this is a case that invloves one party contracting for another exchanging silver, something of value.

Under Article I sec. 10, clause I, (which is a limitation of the states) "No state shall..pass any..Law impairing the Obligation of Contracts"...some have opined this applies to the federal government as well, which I can see the argument for.

But, based on the Legal Tender Cases following the Civil War, and based on Article I sec. 8 which grants the federal government the exclusive power to print and regulate money, I'm going to have to side on the government on this issue.

That doesn't mean I'm in favor of The Fed however, I find most of what they do unconstitutional. But in this instance, I also find coining money and using it as currency unconstitutional as well.
 

SmilinSilhouette

Registered Member
“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Anne Tompkins said. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country.”

Is not the same true of a privately held "federal" reserve bank that creates $600,000,000,000.00 of new currency and injects it into the economy? That represents a greater danger to the economic stability of the country. A far greater danger than norfed, whose opposition to the "federal" reserve bank is the real reason they are being targeted.
 

CaptainObvious

Embrace the Suck
V.I.P.
“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Anne Tompkins said. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country.”

Is not the same true of a privately held "federal" reserve bank that creates $600,000,000,000.00 of new currency and injects it into the economy? That represents a greater danger to the economic stability of the country. A far greater danger than norfed, whose opposition to the "federal" reserve bank is the real reason they are being targeted.
I completely agree with you, I find The Fed unconstitutional. But I also find this unconstitutional.
 

SmilinSilhouette

Registered Member
@ CO: I feel their case is flimsy at best. There are countless minters of silver coins that are embossed with every thing from Elvis, to merry Christmas, to an exact reproduction of the face of the US silver eagle. Why do they not arrest issuers of these coins? It is no suprise to me that this politically motivated attack through the use of government power to support the privately held "federal" reserve bank, who issue currency based on nothing but a promise.

I also wonder what right does the government have to take the silver and gold contractually obligated to the shareholders who possess paper liberty dollars?
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Also, what is your opinion on this argument?

Constitution: "Liberty dollar" coinage defended
 
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