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Oldtimer I have a question ?

nonothing

Well-known member
I was tooling around a few investment sites and i came across what they call "The Liberty dollar" I read up on it what i could..seems the FBI has confiscated what was in the mint when they went into it just recently...It said something about ron paul allowing a new currency

this is from wikipeda
On December 13, 2007, Representative Ron Paul introduced "The Free Competition in Currency Act" in the House of Representatives. Paul said:

One particular egregious recent example is that of the Liberty Dollar, in which federal agents seized millions of dollars worth of private currency held by a private mint on behalf of thousands of people across the country...We stand on the precipice of an unprecedented monetary collapse, and as a result many people have begun to look for alternatives to the dollar...I believe that the American people should be free to choose the type of currency they prefer to use. The ability of consumers to adopt alternative currencies can help to keep the government and the Federal Reserve honest, as the threat that further inflation will cause more and more people to opt out of using the dollar may restrain the government from debasing the currency.

The bill seeks to legalize the use of currencies - including the Liberty Dollar - that compete with the Federal Reserve's United States Dollar. [23]

I guess my question is this......Is this liberty dollar just a fraud or is there something to this whole new currency thing?.
 

Tex

Well-known member
They did have a small gold reserve backing up the liberty dollar but it wasn't much.

The "liberty dollar" was shut down by the govt who has the sole right to issue currency (and have really poor fed policies that many don't agree with--more of a wallstreet policy than a national policy-- but of course, see who runs it).
 

Steve

Well-known member
...Is this liberty dollar just a fraud or is there something to this whole new currency thing?.


If your thinking of hedging in currancy..I would buy actual silver or gold before the Liberty dollar..

try to stay away from silver rounds or ingots unless it is at or below melt.. because they like the liberty dollar are not worth more unless you get some one else to buy them...

I would recommend buying a US or Canadian coin as they have both the melt value and the numeristic value..

Franklins trade cheap and you can find good value examples that sell better...

I like walking liberties myself...

but the thing to remember with any investment.. if you have to ask for advice... then don't trade alone in that market..

In other words if I asked the same question you asked about the liberty dollar... then I wouldn't buy one...

you would be better off collecting copper pennies by the truckload then investing in currancy backed by a group going against US law...
 

nonothing

Well-known member
Oldtimer said:
nonothing-- I haven't heard anything about it...


Well dang it man!!!! :) ...its ok tex and steve provided some good advice...I just figured...FBI and currency,who better to ask then Oldtimer ......lol....
 
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