Difference between revisions of "Liberty Dollar"
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(→Conclusions: another comment about Liberty Dollar's intentions) |
(LD news, and some more details) |
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[[category:US]] | [[category:US]] | ||
==About== | ==About== | ||
| − | The [[Liberty Dollar]] was a precious-metal-backed [[private currency]] in the {{USA}}. Creator [[Bernard von NotHaus]] was found guilty on a number of charges on {{date|2011-03-18}}.{{seedling}} | + | The [[Liberty Dollar]] was a precious-metal-backed [[private currency]] in the {{USA}}. Creator [[Bernard von NotHaus]] was found guilty on a number of charges on {{date|2011-03-18}} and is currently (June 2011) free awaiting sentencing.{{seedling}} |
| − | === | + | ===Arguments=== |
Some of the charges seem clearly false, such as the charge of forgery: the coins did not have more than passing resemblance to US tender, and were clearly of different design, although the FBI release claims similarity: | Some of the charges seem clearly false, such as the charge of forgery: the coins did not have more than passing resemblance to US tender, and were clearly of different design, although the FBI release claims similarity: | ||
<blockquote>...the Liberty coins were marked with the dollar sign ($); the words dollar, USA, Liberty, Trust in God (instead of In God We Trust); and other features associated with legitimate U.S. coinage.</blockquote> | <blockquote>...the Liberty coins were marked with the dollar sign ($); the words dollar, USA, Liberty, Trust in God (instead of In God We Trust); and other features associated with legitimate U.S. coinage.</blockquote> | ||
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| + | NotHaus points out that the word "dollar" is used in currencies around the world, and yet they are not regarded as forgeries of US dollars. | ||
One source [http://globalguerrillas.typepad.com/globalguerrillas/2011/03/journal-alternative-currencies.html#comment-6a00d83451576d69e20147e3705513970b says]: | One source [http://globalguerrillas.typepad.com/globalguerrillas/2011/03/journal-alternative-currencies.html#comment-6a00d83451576d69e20147e3705513970b says]: | ||
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The charge of issuing private coinage seems more clear-cut, although it's not clear why there would be a law against private coinage ([http://www.law.cornell.edu/uscode/18/486.html USC 18 §486]) and not one against private paper currency, or private currency in general. | The charge of issuing private coinage seems more clear-cut, although it's not clear why there would be a law against private coinage ([http://www.law.cornell.edu/uscode/18/486.html USC 18 §486]) and not one against private paper currency, or private currency in general. | ||
| + | NotHaus also points out that Liberty was very careful never to use the word "coin" in reference to the Liberty Dollar. NotHaus argues that the Liberty Dollar is actually a new invention -- [[private voluntary barter currency]] -- for which there is no legal term (though he accepts "medallion" as being the closest legal equivalent). | ||
==Links== | ==Links== | ||
| + | ===Official=== | ||
| + | * [http://www.libertydollarnews.org Liberty Dollar News]: includes newsletter archive going back to 2007 | ||
===Reference=== | ===Reference=== | ||
* {{wikipedia}} | * {{wikipedia}} | ||