Posted by Curt on 15 November, 2007 at 10:24 am. 40 comments already!

Only the Ron Paul nuts would believe that it’s a-ok for any fringe group to make their own currency:


In an all-out battle, Liberty Dollar in
Evansville, Indiana, has issued the 2008 Peace Dollar to “Stop the
War.” As if President Bush’s unpopular war does not have enough
problems, the Peace Dollar appears to offer an attractive way for the
antiwar forces to gain strategic ground at a profit.

Liberty Dollar recently issued a “Presidential” Ron Paul Dollar in
support of the Republican peace candidate. Now it asks peace-seeking
Americans to start using the Peace Dollar and stop using the US War
Dollar, as it finances the Iraq War.

The 2008 Peace Dollar is not government money and cannot be used to
fund the war in Iraq. It is good for peace and bad for war. The
government uses their printing presses to make money out of thin air to
finance their war by diluting every American’s purchasing power…
hence higher gas and food prices.

Bernard von NotHaus, the fiery monetary architect of the Liberty
Dollar, says that by accepting and spending Peace Dollars, peaceful
people can force the government to “Stop the War” because the
government will have less money to pay for it. He encourages
peace-loving people to use a Peace Dollar the next time they spend
money and “Give peace a chance.”

The $10 Peace Dollar is a legal functioning currency dedicated to
stop the war. As a private voluntary barter currency it can be used
anywhere it is accepted. It is “real money” minted in pure silver and
copper that exchanges dollar-for-dollar with the US war dollar.
It is
dedicated to establishing peace and bringing our boys home. The 2008
Peace Dollar has a face value of ten “Liberty Dollars” and contains
one-half ounce of pure .999 fine silver. The $1 Copper Peace Dollar
contains one ounce of pure copper.

And they found out the hard way:

I sincerely regret to inform you that about 8:00 this morning a
dozen FBI and Secret Service agents raided the Liberty Dollar office in

For approximately six hours they took all the gold,
all the silver, all the platinum and almost two tons of Ron Paul
Dollars that where just delivered last Friday. They also took all the
files, all the computers and froze our bank accounts.

We have
no money. We have no products. We have no records to even know what was
ordered or what you are owed. We have nothing but the will to push
forward and overcome this massive assault on our liberty and our right
to have real money as defined by the US Constitution. We should not to
be defrauded by the fake government money.

But to make matters
worse, all the gold and silver that backs up the paper certificates and
digital currency held in the vault at Sunshine Mint has also been
confiscated. Even the dies for mint the Gold and Silver Libertys have
been taken.

This is fraud, plain and simple.  People cannot just come up with their own form of currency, start to use it, and then expect no consequences.  One of the main reasons the National Bank and Federal Reserve was set up was due to how fraudulent these currencies people came up with were.  Unless the currency is backed by something of real monetary value then it’s worthless, and unconstitutional (oh my, a Paulbot going against the Constitution!  No way!):

Under the Constitution ( Article I, section 8, clause 5 ), Congress has the exclusive power to coin money of the United States and to regulate its value. By statute ( 31 U.S.C. § 5112(a) ),
Congress specifies the coins that the Secretary of the Treasury is
authorized to mint and issue and requires the Secretary to carry out
these duties at the United States Mint (31 U.S.C. § 5131).
Accordingly, the United States Mint is the only entity in the United
States with the lawful authority to mint and issue legal tender United
States coins. Under 18 U.S.C. § 486,
it is a Federal crime to utter or pass, or attempt to utter or pass,
any coins of gold or silver intended for use as current money except as
authorized by law.

Additionally, reading through their website you come across this “deal”:

Want to earn money, do good and have more fun? Then become a Liberty Associate for $250. You will immediately receive $100 Liberty Dollars and all your future currency exchanges will be at the special discounted Associate Rate that is posted at the top of the Liberty Dollar home page. Plus you can earn a $100 Referral for every Associate you sponsor. Sponsor only two people and you are now up $50 and you are on your way to making a significant difference to our country and its money. All three bonuses are also included with the Best Offer. Click here to become a Liberty Associate.

So, for 250 bucks you get 50 dollars worth of gold that I say is really worth 100 bucks.  Ummmm….can you say pyramid scheme?

I’m actually going to be sad when Ron Paul gets his ass handed to him in the primaries, the nuttiness of his supporters have made for some great blogging.


Wordsmith made his own money also: