Today's post on the SW blog is lazy and it's about the creation of money.
The coins you see to the right are not money. They are coins, Liberty Dollars. They do have value based in silver and gold but you can't pretend that they are legal tender. There are people that do use them in a barter system. Supposedly the company that makes these coins was raided by the FBI today.
"According to the e-mail, about a dozen agents arrived Wednesday morning and seized gold, silver, platinum and nearly two tons of recently delivered Ron Paul Dollars. They also took all the files, all the computers and froze the group's bank accounts, the e-mail said."
The FBI supposedly also raided the company's vault in Idaho and siezed all the gold and silver there as well.
I can't verify the email yet (the article I'm citing from is going off the same email rumor) but if it's true, it raises some questions.
1. The big debate that has been going on for years is whether or not this is counterfeit currency. Liberty Dollars have been being made since 1998 so it's seems odd that it took 9 years to figure it out.
2. If it is counterfeit, why did the FBI do the raid? It should have been the Secret Service.
3. Do you think there's any coincidence to the timing of the raid with the arrival of two tons of coins with Ron Paul's face on them.
4. If these coins can't be handed out, should they also sieze things like Superbowl coins and those chocolate coins in gold foil that look like money?
These questions either point to a hoax email or to an illegal siezure (a nice way of saying "theft") by the government.
I'll keep you updated if I learn anything new.
*Update* - Apparently it's true but the Justice Department is no releasing any information on the raid. There is a lot of speculation that the reason the raid took place even though the company is already in litigation with the government to settle the matter is because the Ron Paul dollar was going to take the company mainstream. The Liberty Dollar was a mere annoyance to the Fed when very few people knew about them but putting Ron Paul's face was going to make them popular and the Fed doesn't want to draw attention to the fact that they are destroying the value of the dollar.
Unfortunately for the Fed, the raid is drawing media attention now and anything that looks like the Fed is trying to suppress people is going to make them look worse if they can't keep the lid on it.
Have you ever tried to keep the lid on anything that has to do with Ron Paul? =)
Here's an interesting quote that is the video following about money:
"The refusal of King George III to allow the colonies to operate an honest monetary system which freed the ordinary man from the clutches to the money manipulators was the prime cause of the Revolution.” - Benjamin Franklin.
What astounds me is that I really did not know too much about the Fed until last year. You would think that something this big would be taught and talked about more.
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