Bernard von NotHaus had an idea for a business. A good idea. He made inflation proof money by making coins out of silver and gold. His coins were known as Liberty Dollars.
Liberty Dollars were popular among the Free State members who have already begun moving to NH. One such member even began a small side business of selling signs to NH businesses willing to trade in this alternative currency.
All of that ended this week when the federal government moved in a raided Liberty Dollar headquarters and confiscated all of their gold, silver and platinum which was being used to make the popular coins. The government's claim was that they were illegal.
The only mention of counterfeiting in the Constitution is the following section of Article I section 8 " To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;"
Since Liberty Dollars are in no way presenting themselves as copies of US coins I fail to see why there is any problem with a business creating coins made of gold and silver. You can buy, sell and trade silver rings, gold charms etc but because Liberty Dollar made them into coins which people were using to trade in light of the continually decreasing value of the US dollar.
The owner of Liberty Dollars sent out the following email in response to the federal raid:
Dear Liberty Dollar Supporters:
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 Evansville.
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 in spite of the fact that Edmond C. Moy, the Director of the Mint, acknowledged in a letter to a US Senator that the paper certificates did not violate Section 486 and were not illegal. But the FBI and Services took all the paper currency too.
The possibility of such action was the reason the Liberty Dollar was designed so that the vast majority of the money was in specie form and in the people’s hands. Of the $20 million Liberty Dollars, only about a million is in paper or digital form.
I regret that if you are due an order. It may be some time until it will be filled... if ever... it now all depends on our actions.
Everyone who has an unfulfilled order or has digital or paper currency should band together for a class action suit and demand redemption. We cannot allow the government to steal our money! Please don’t let this happen!!! Many of you read the articles quoting the government and Federal Reserve officials that the Liberty Dollar was legal. You did nothing wrong. You are legally entitled to your property. Let us use this terrible act to band together and further our goal – to return America to a value based currency.
Please forward this important Alert... so everyone who possess or use the Liberty Dollar is aware of the situation.
Please click HERE to sign up for the class action lawsuit and get your property back!
If the above link does not work you can access the page by copying the following into your web browser. http://www.libertydollar.org/classaction/index.php
Thanks again for your support at this darkest time as the damn government and their dollar sinks to a new low.
Bernard von NotHaus
I will be watching this story and hope to have further updates. In the meantime, if you are the owner of any Liberty Dollars, fret not as they are not fetching VERY high prices on e-bay (currently the $20 coins are going for anywhere from $35 to $150). Despite the raid I would still recommend the coins as a good investment as the price of the gold and silver they are made from will continue to rise while the US dollar, unless things drastically change, will continue to fall.
NOTE: The Ron Paul campaign had nothing to do with Liberty Dollars choice to make Ron Paul coins and had in no way authorized them. Jesse Benton, spokes person for Ron Paul said "We have no connection with that. He was using Ron as a marketing technique. We didn't have anything to do with that or sanction it or give permission in any way."