Difference between revisions of "Liberty Dollar"
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(→To File: domestic terrorism, even...) |
(conclusions -- yes, virginia, there is a section of code which specifically makes Liberty Dollar illegal) |
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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 same source observes that this wasn't an attempt by the federal government to quash a rebellious ideology, because the people who started [[Ithaca Hours]] "were "a bunch of DFHs" ("Dirty F---ing Hippies") with the usual range of dissident ideas and protestful speech, but they have never gotten in any trouble because they did it right." | The same source observes that this wasn't an attempt by the federal government to quash a rebellious ideology, because the people who started [[Ithaca Hours]] "were "a bunch of DFHs" ("Dirty F---ing Hippies") with the usual range of dissident ideas and protestful speech, but they have never gotten in any trouble because they did it right." | ||
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| + | Another commenter on the same blog post [http://globalguerrillas.typepad.com/globalguerrillas/2011/03/journal-alternative-currencies.html#comment-6a00d83451576d69e20147e3c7fd16970b adds] that<blockquote>the idea of the Liberty Dollar was to be in the face of the Federal Reserve System and get the law repealed. One way to do that is to 'violate the law' - and that is what Benard did.</blockquote>If true, this would explain both the decision to mint coins and why the warnings were ignored. | ||
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. | ||
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| + | 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). | ||
| + | ==Conclusions== | ||
| + | Although this argument is touched on only briefly (at most) in the documents we currently have available, it would appear that Liberty Dollar is clearly in violation of US Code [http://www.law.cornell.edu/uscode/18/486.html Title 18 Part I Chapter 25 Section 486], which states: | ||
| + | <blockquote>Whoever, except as authorized by law, makes or utters or passes, or attempts to utter or pass, any coins of gold or silver or other metal, or alloys of metals, intended for use as current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design, shall be fined under this title or imprisoned not more than five years, or both.</blockquote> | ||
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| + | Von NotHaus attempted to evade this law by describing Liberty Dollars as "medallions", but even so they were clearly being sold and used as "current money". | ||
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| + | Fortunately, this law does not say anything about non-physical forms of currency such as [[BitCoin]]. | ||
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| + | What is not clear is whether there is any legitimate need for this law, or whether the benefits outweigh the [[artificial dependency]] it creates. | ||
==Links== | ==Links== | ||
| + | ===Official=== | ||
| + | * [http://www.libertydollarnews.org Liberty Dollar News]: includes newsletter archive going back to 2007 | ||
===Reference=== | ===Reference=== | ||
* {{wikipedia}} | * {{wikipedia}} | ||
| − | * {{conservapedia}} | + | * {{!in|conservapedia}}: no information as of 2011-09-01 |
| − | * {{dkosopedia}} | + | * {{!in|dkosopedia}}: no information as of 2011-09-01 |
| − | * {{sourcewatch}} | + | * {{!in|sourcewatch}}: no information as of 2011-09-01 |
| + | |||
===To File=== | ===To File=== | ||
| + | * '''2011-06-11''' [http://www.boilingfrogspost.com/2011/06/11/podcast-show-46/ The Boiling Frogs Presents Bernard Von NotHaus]: hour-long interview with many details | ||
* '''2011-03-19''' [http://www.citizen-times.com/article/20110319/NEWS01/110319006/Liberty-Dollar-creator-convicted-federal-court Liberty Dollar creator convicted in federal court] "found guilty by a federal jury of conspiracy against the government in a case of “domestic terrorism.”" Wait a minute, "'''[[domestic terrorism]]'''"? For making coins?? Sounds like [[international banking conspiracy|someone]] felt threatened. | * '''2011-03-19''' [http://www.citizen-times.com/article/20110319/NEWS01/110319006/Liberty-Dollar-creator-convicted-federal-court Liberty Dollar creator convicted in federal court] "found guilty by a federal jury of conspiracy against the government in a case of “domestic terrorism.”" Wait a minute, "'''[[domestic terrorism]]'''"? For making coins?? Sounds like [[international banking conspiracy|someone]] felt threatened. | ||
* '''2011-03-18''' [http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency Defendant Convicted of Minting His Own Currency]: that makes it sound like a [[bad]] thing... | * '''2011-03-18''' [http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency Defendant Convicted of Minting His Own Currency]: that makes it sound like a [[bad]] thing... | ||