FBI Raids "Liberty Dollar"

[kittens]

The Fed Hates Competition

Evansville FBI acknowledges Liberty Dollar raid (http://muckrakerreport.com/id550.html)

November 15, 2007 – According to Bernard von NotHaus, monetary architect of the Liberty Dollar, federal agents raided the Evansville, IN headquarters of the Liberty Dollar at “approximately 8:00am this morning”. In his e-mail, Von NotHaus indicated federal agents seized gold, silver, platinum and nearly two tons of recently delivered Ron Paul Dollars.

The agents also took all files, computers, and froze the organization’s bank accounts, according to Von NotHaus.

Von NotHaus developed the Liberty Dollar in 1998 as an “inflation proof” alternative to the U.S. Dollar, which has drastically devalued since its inception.

The Muckraker Report contacted the Evansville, IN office of the FBI to confirm the raid. According to the Evansville FBI field office, the raid occurred yesterday. The FBI agent in the Evansville office did not provide his name and referred all further questions to FBI Agent Wendy Osborne, a spokeswoman for the FBI’s Indianapolis office.

Wendy Osborne directed the Muckraker Report to Suellen Pierce at the Western District of North Carolina U.S. Attorney’s Office. Pierce told the Muckraker Report that she had no information about the raid that was ready to be made public. When told that the Evansville FBI field office confirmed the raid, frustration was detected in Pierce’s voice as she explained that once information is authorized to be released to the public, she would contact the Muckraker Report. more (http://muckrakerreport.com/id550.html)

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and from the Liberty Dollar site : http://libertydollar.org/ld/legal/raid.htm

[Moby]

I read this and I just don't get it. What are these people thinking?

[stefan segal]

I believe they were thinking in terms of Franklin mint and jewelry production...and not to directly compete with the federales and that set of thieves.

Stefan

[disrupter]

The US government can't handle honest competition.

[stefan segal]

I rationalized, without first reading the embedded article, that "Ron Paul" dollars were campaign gimmick, similar to a button.

Now having read the Von Nothaus story, I wold not have posted as I did above.

I continue to know nothing about the Ron Paul connection, as Von Nothaus has appparently been going after true money for ten years...a truely an embarassment to the federal reserve, who have gutted what they call dollars.

If memory serves, criminality has to do with what they are named...if they are to replace the USD and their intended utility.

Having read Von Nuthaus' quotes, this is a man looking for meaning in life...he is taunting the feds to throw him in jail...seeing it as a step in his myarterdom.

The man is frothy in his rightness, but doesn't wholey realize the csliber of murdering thieves he's dealing with...(still having no visable connection with Ron Paul that I can see other than the name)

Stefan

[paulm]

The Liberty Dollar, as I understand it from their web site, is an alternative U.S. currency program. Whereas the Ron Paul Dollar is simply a fundraising thing.
As well, as I understand it... whether you believe our currency is legal or not is irrellevant. The U.S. Mint (coins) and, I believe the U.S. Engraving office (currency) are the ONLY entities permitted to produce 'legal' tender in this country. Therefore their activities could be construed as illegal. It wouldn't surprise me if this case goes before the Supreme Court.

[LadyMod at scam.com]

The Liberty Dollar, as I understand it from their web site, is an alternative U.S. currency program. Whereas the Ron Paul Dollar is simply a fundraising thing.
As well, as I understand it... whether you believe our currency is legal or not is irrellevant. The U.S. Mint (coins) and, I believe the U.S. Engraving office (currency) are the ONLY entities permitted to produce 'legal' tender in this country. Therefore their activities could be construed as illegal. It wouldn't surprise me if this case goes before the Supreme Court.


It would be interesting if it does. What we call "legal" tender is basically nothing more than a debt instrument. But Congress is the only entity entitled to coin money. They do that via the federal reserve.


http://www.federalreserve.gov/GeneralInfo/fract/

Federal Reserve Act
Dispersed throughout 12 USC; ch. 6, 38 Stat. 251 (December 23, 1913)

To provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.

What is "legal tender"?


http://www.treasury.gov/education/faq/currency/legal-tender.shtml

Federal Reserve notes:

What are Federal Reserve notes and how are they different from United States notes?

Federal Reserve notes are legal tender currency notes. The twelve Federal Reserve Banks issue them into circulation pursuant to the Federal Reserve Act of 1913. A commercial bank belonging to the Federal Reserve System can obtain Federal Reserve notes from the Federal Reserve Bank in its district whenever it wishes. It must pay for them in full, dollar for dollar, by drawing down its account with its district Federal Reserve Bank.

Federal Reserve Banks obtain the notes from our Bureau of Engraving and Printing (BEP). It pays the BEP for the cost of producing the notes, which then become liabilities of the Federal Reserve Banks, and obligations of the United States Government.

Congress has specified that a Federal Reserve Bank must hold collateral equal in value to the Federal Reserve notes that the Bank receives. This collateral is chiefly gold certificates and United States securities. This provides backing for the note issue. The idea was that if the Congress dissolved the Federal Reserve System, the United States would take over the notes (liabilities). This would meet the requirements of Section 411, but the government would also take over the assets, which would be of equal value. Federal Reserve notes represent a first lien on all the assets of the Federal Reserve Banks, and on the collateral specifically held against them.

Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy.

..............................................


What are United States Notes and how are they different from Federal Reserve notes?

United States Notes (characterized by a red seal and serial number) were the first national currency, authorized by the Legal Tender Act of 1862 and began circulating during the Civil War. The Treasury Department issued these notes directly into circulation, and they are obligations of the United States Government. The issuance of United States Notes is subject to limitations established by Congress. It established a statutory limitation of $300 million on the amount of United States Notes authorized to be outstanding and in circulation. While this was a significant figure in Civil War days, it is now a very small fraction of the total currency in circulation in the United States.

Both United States Notes and Federal Reserve Notes are parts of our national currency and both are legal tender. They circulate as money in the same way. However, the issuing authority for them comes from different statutes. United States Notes were redeemable in gold until 1933, when the United States abandoned the gold standard. Since then, both currencies have served essentially the same purpose, and have had the same value. Because United States Notes serve no function that is not already adequately served by Federal Reserve Notes, their issuance was discontinued, and none have been placed in to circulation since January 21, 1971.

The Federal Reserve Act of 1913 authorized the production and circulation of Federal Reserve notes. Although the Bureau of Engraving and Printing (BEP) prints these notes, they move into circulation through the Federal Reserve System. They are obligations of both the Federal Reserve System and the United States Government. On Federal Reserve notes, the seals and serial numbers appear in green.

United States notes serve no function that is not already adequately served by Federal Reserve notes. As a result, the Treasury Department stopped issuing United States notes, and none have been placed into circulation since January 21, 1971.