Is gold money?

[wrag]

The Feds say it is not????????????

http://worldnetdaily.com/news/article.asp?ARTICLE_ID=58724

I REALLY curios how this is going to come out!

If gold, silver, and platinum can not be used as money.............

If government agency can TAKE your gold, silver, and platinum..........

Is this about Control?

Liberty Dollars

http://www.libertydollar.org/

[Tiger]

The problem is they were creating a coin and assigning a value.  If they had created a coin with no assigned value for collector use, no problem.  If they had simply been a gold/silver broker and traded at current market value, once again no problem.  The problem comes that they were attempting to create something that is not a formally recognized form of currency and use it as such.  

The gov't can't use the counterfiet claim, they were nto creating something to pass off as US currency.  I have no clue which legal term/tactic they are going to try to use on them.  I say if the grocery store or gas staion guy is willing to take their custom coin as payment for his goods I have no problem with that.  I see it as me trading the neighbor my beat up truck for his lawn mower.  Or me offering to take care of some small electrical repairs at the mechanics shop is he fixes my car.  The good old fashioned barter system.  Which basically was what currency was supposed to replace so that your local farmer didn't have to lug around 100 bushels of corn to pay for his diesel fuel for the tractor.

[2bighorn]

Originally posted by Tiger
The problem is they were creating a coin and assigning a value.  If they had created a coin with no assigned value for collector use, no problem.  If they had simply been a gold/silver broker and traded at current market value, once again no problem.  The problem comes that they were attempting to create something that is not a formally recognized form of currency and use it as such.  

Why would that be a problem? Every gift certificate, every coupon has assigned value. We can trade in any currency (backed by gold or not).
Why would Liberty Dollar be exception?

Feds just got a hard on when it comes to control...

[bsdaddict]

Of course gold is money.  The problem is the Fed can't simply print more of it, so they see it as a threat to their system.

[Holden McGroin]

Originally posted by 2bighorn
Why would that be a problem? Every gift certificate, every coupon has assigned value. We can trade in any currency (backed by gold or not).
Why would Liberty Dollar be exception?

Feds just got a hard on when it comes to control...

every gift certificate, coupon, etc is not universally redeemable, and the small print in a coupon says something like "cash value 1/20 of 1 cent"

The federal mint system was originally concieved so that we would have a uniform monatary system in the USA.  

Before the federal mint was established, states were establishing independant money sytems and before the BIP established a monopoly on printing paper money, banks printed their own currency. If you carried currency from one state to another, a local bank in say Ohio would discount the Vermont bank's currency because of the distance between the two banks.

Here the europeans establish the Euro to get rid of competing currency systems, and this bozo wants to begin a competetor to the dollar within our own country.

[bsdaddict]

Originally posted by Holden McGroin
this bozo wants to begin a competetor to the dollar within our own country.

You say "competetor" like that's a bad word, what are you, a communist?  Of all the values my parents instilled in me while I was growing up, competition being a good thing was right up near the top.

[Holden McGroin]

Originally posted by bsdaddict
You say "competetor" like that's a bad word, what are you, a communist?  Of all the values my parents instilled in me while I was growing up, competition being a good thing was right up near the top.

So you think that going to 50 seperate state currancies would be a good or bad thing?

Did your parents instill in you a sense of cooperation and teamwork? These are usually considered good things as well.

[2bighorn]

Originally posted by Holden McGroin
every gift certificate, coupon, etc is not universally redeemable, and the small print in a coupon says something like "cash value 1/20 of 1 cent"

same for Liberty Dollar

Originally posted by Holden McGroin
Here the europeans establish the Euro to get rid of competing currency systems, and this bozo wants to begin a competetor to the dollar within our own country.

Firstly, competition is desired in every market driven economy, secondly, him being a bozo or not does not justify action of the feds.

Read US Code: http://www.law.cornell.edu/uscode/31/usc_sup_01_31_08_IV_10_51.html

Currently there's no law (that I'm aware of) which says that private business have to honor legal tender or that they can't issue and use substitute.

[Hortlund]

Of cource gold isnt money anymore than silver, platinum or any other metal is money.

Do you think oil is money? Lumber? Steel?

[bsdaddict]

Originally posted by Holden McGroin
So you think that going to 50 seperate state currancies would be a good or bad thing?

I'd tend to see any alternative to the current fiat currency that's dragging this country down as a good thing.

Did your parents instill in you a sense of cooperation and teamwork?

sure they did, but cooperation and teamwork implies choice.  If there's only one "team", then that's a monopoly.  Gov't-backed monopoly leads to fascism or communism, take your pick.

[Thruster]

I think the fed's problem was that it is not U.S. Currency, but it is being sold as a legal alternative with slightly misleading pitches.

Minting something like this is not illegal and using it as a "voucher" to establish a transactional value is ok by law but intimating that there's some real monetary value is fraud.
If it's not issued by the U.S. mint. it ain't legal currency. It's nothing more than a pretty poker chip.

And don't go believing everything you read on the web. That site links to a few pages that are almost comedic in their half baked assumptions and conclusions.

I talk to a lot of "free thinkers" that have some very elementary views on the way the money system works and what the dollar's place in it all is.

Suffice it to say that we can't do without; The Federal Reserve
                                                                  The World Bank
                                                                  A single currency
                                                                  A floating exchange system

About the last thing we need is a domestic alternative to the U.S.D. That's a can of worms nobody wants to open.

[Tiger]

Well I guess I'm gonna fire up the ole laptop tonight and start printing Tigers (sounds like a good name fr a currency).  I'll make them in denominations of 1, 3, 7, and 12 Tigers.  (Just to be unique).  I then think I will convince all the local gas stations and grocery stores to accept my Tigers and get everyone in the area envolved in switch from USD's to Tigers.  As far as coinage goes, I guess I can go get so steel sheets and a dye punch and crete them too.  I hate pennies so I figure I'll use .02, .15, .30, and .50.  Those seem pretty good choice to me.  I will then proceed to create an entirely arbitrary exhange rate for USD's to Dollars.

[john9001]

i would buy liberty dollars but all my money is tied up in Nigerian gold mines.

[Tac]

"If it's not issued by the U.S. mint. it ain't legal currency. It's nothing more than a pretty poker chip"

Well the USD is also a poker chip and the house has no tangible backing for it.


I still believe we should go back to the old system of making the money out of the metal that's worth it.

[Tiger]

Originally posted by Tac
"If it's not issued by the U.S. mint. it ain't legal currency. It's nothing more than a pretty poker chip"

Well the USD is also a poker chip and the house has no tangible backing for it.


I still believe we should go back to the old system of making the money out of the metal that's worth it.

Why not just go back to the barter system then?