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Thread: Liberty Dollar creator convicted in federal court

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    Liberty Dollar creator convicted in federal court

    Bernard von NotHaus was convicted Friday at the conclusion of an eight-day trial in U.S. District Court in Statesville. The jury deliberated less than two hours, according to the Department of Justice.

    Charges remain pending against William Kevin Innes, an Asheville man who authorities said recruited merchants in Western North Carolina willing to accept the “barter” currency, according to court records. Innes was indicted along with von NotHaus in 2009.

    “Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Anne Tompkins said. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country.”
    Source: The Asheville Citizen-Times

    That is right, making money that is clearly distinct from U.S. government money and reaching agreement with businesses to accept said money is terrorism. I am curious when there are going to be federal raids on Chuck E. Cheese's, since it is clearly a hotbed of terrorism indoctrinating our youth with subversive activity.
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    Re: Liberty Dollar creator convicted in federal court

    Although the rhetoric is a bit over the top, there are very good reasons for the government to tightly regulate currency and monopolize our nation's monetary policy. The Federal Reserve Chairman and the Secretary of the Treasury are appointed by the President, who is elected by the people. Who elected THIS bozo? It could end very very badly if private currencies became widely used.
    Last edited by Kandahar; 03-19-11 at 04:39 PM.
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    Re: Liberty Dollar creator convicted in federal court

    Quote Originally Posted by Demon of Light View Post
    Source: The Asheville Citizen-Times

    That is right, making money that is clearly distinct from U.S. government money and reaching agreement with businesses to accept said money is terrorism. I am curious when there are going to be federal raids on Chuck E. Cheese's, since it is clearly a hotbed of terrorism indoctrinating our youth with subversive activity.
    Ithaca, NY has Time Dollars. San Francisco has an alternative currency. Heck, Frequent Flyer Miles are a form of alternate currency. The Liberty Dollar, it seems, was the most successful. But FFMs must certainly top even that. The General Assembly in Tennessee has formed a committee to investigate alternative currencies. Seems to be a growing anamoly. Doesn't speak too well for greenbacks.
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    Re: Liberty Dollar creator convicted in federal court

    Speaking of alternate currencies




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    Re: Liberty Dollar creator convicted in federal court

    Quote Originally Posted by Kandahar View Post
    Although the rhetoric is a bit over the top, there are very good reasons for the government to tightly regulate currency and monopolize our nation's monetary policy. The Federal Reserve Chairman and the Secretary of the Treasury are appointed by the President, who is elected by the people. Who elected THIS bozo? It could end very very badly if private currencies became widely used.
    You need to do some research into the Federal Reserve system. By law members of the Board of Governors are required to be representative of corporate interests across the country. The various directors of the regional reserve banks that appoint five people to the Open Market Committee, with the head of the New York Fed being vice-chairman of the body, are owned and appointed mostly by member banks, the national banks (JP Morgan Chase, Citigroup, etc.) being automatic members of the system. Decisions of that body are by consensus, basically meaning everyone has to agree i.e. the people appointed by the banking corporations have to approve all measures. The Federal Reserve System is nothing more than a government-mandated banking cartel.

    I would prefer individuals issuing their own currencies to this perverse state-monopoly capitalism.
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    Re: Liberty Dollar creator convicted in federal court

    Well, jail's not so bad. At least they didn't assassinate him.

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    Re: Liberty Dollar creator convicted in federal court

    Quote Originally Posted by Demon of Light View Post
    I would prefer individuals issuing their own currencies to this perverse state-monopoly capitalism.
    Individuals issuing their own currencies is a recipe for disaster. It means that there would be little to no stability in our economy, and little ability for the government to tame bubbles or mitigate recessions. The economic problems in Greece are a good example of what happens when a nation can't control its own monetary policy. Greece badly needs to devalue its currency, but it doesn't have one, so it will be stuck in a recession for years.
    Last edited by Kandahar; 03-19-11 at 06:54 PM.
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    Re: Liberty Dollar creator convicted in federal court

    Quote Originally Posted by Kandahar View Post
    Individuals issuing their own currencies is a recipe for disaster. It means that there would be little to no stability in our economy, and little ability for the government to tame bubbles or mitigate recessions. The economic problems in Greece are a good example of what happens when a nation can't control its own monetary policy. Greece badly needs to devalue its currency, but it doesn't have one, so it will be stuck in a recession for years.
    Since when has our government tried to "tame bubbles" in our economy? Also, what happened in Greece is only a good example of what happens when you don't have strict fiscal discipline.
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    Re: Liberty Dollar creator convicted in federal court

    Quote Originally Posted by Demon of Light View Post
    Since when has our government tried to "tame bubbles" in our economy?
    Governments can tame bubbles by raising interest rates. Higher interest rates encourage saving and discourage spending/investment. Similarly, when the government wants the economy to grow faster it can cut interest rates.

    Quote Originally Posted by Demon of Light
    Also, what happened in Greece is only a good example of what happens when you don't have strict fiscal discipline.
    I'm referring more to what happened in Greece AFTER the financial crisis struck. Greece was forced into harsh austerity measures that will prolong the recession, because it does not have control over its own monetary policy. If Greece still had the drachma it could have devalued. This is NOT an example that the United States (or anyone else) needs to copy. We're far better off having the government firmly in control of monetary policy.
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    Re: Liberty Dollar creator convicted in federal court

    Quote Originally Posted by Kandahar View Post
    Governments can tame bubbles by raising interest rates. Higher interest rates encourage saving and discourage spending/investment. Similarly, when the government wants the economy to grow faster it can cut interest rates.
    They can do it, but that is not the same as actually doing it.

    I'm referring more to what happened in Greece AFTER the financial crisis struck. Greece was forced into harsh austerity measures that will prolong the recession, because it does not have control over its own monetary policy. If Greece still had the drachma it could have devalued. This is NOT an example that the United States (or anyone else) needs to copy. We're far better off having the government firmly in control of monetary policy.
    If Greece had its own currency the country would have collapsed from the financial crisis already rather than just being bogged down in a vicious deflationary cycle.
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