The Liberty Dollar- A Cautionary Tale?
The Federal Government appears to have shut down Liberty Dollar in Evansville, IN. The company was dealing in "alternative currency" which is backed by silver. Apparently the Federal Government doesn't appreciate it when you make your own currency. Who knew?
In interviews, the owner of Liberty Dollar, Bernard Von Nothaus, states that he expects to be arrested. He also claims that he is being persecuted because he brought a suit against the U.S. Mint to stop claiming that trying to spend or circulate the liberty dollar is a crime. You can read more and watch news coverage here.
The FBI is not confirming that they, in fact, raided the shop and the Sunshine Mint in Idaho(where the coins are actually produced) last Thursday. They wouldn't be very good at their jobs if they copped to everything, would they?
Von Nothaus, despite his unfortunate last name, makes some excellent arguments about the U.S. dollar. He also seems unflinching in the face of this turn of events. The Washington Post had this quote from Von Nothaus,
Should he be charged, he said, "I'll turn it into my golden opportunity to validate the Liberty Dollar as a legal, lawful currency and save the country from a monetary collapse."
There are big questions here.
Does the Federal Government have a right to keep people from bartering with one another using an alternative currency? I see the public interest in not having counterfeit currency being used as genuine U.S. dollars. However, since U.S. dollars are no longer backed by....well, anything, and these Liberty Dollars are backed by silver which is the counterfeit?
I see the public interest in having a normalized version of currency, but when one form takes a nose dive, is it in our personal interest to start looking at ways to protect the value of our own money?
Soccer Moms have so much to think about (ladies for the love of God I hope you've taken your turkey out of the freezer already) but this is an intriguing exercise in what we really think about he Federal Government and it's tactics. As citizens, what are our rights? As Moms what is in our best interest and the interest of our children's future.
I'd love to know what you all think.

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