Liberty Dollar (inflation proof)

Discussion in 'Economics' started by universaltrader, Apr 20, 2007.

  1. WRONG!

    Read your Constitution. Those islands are not a state. Also, if I recall correctly it grants the Federal government the power to "coin money", not "issue legal tender". Big difference.

    The founders lived through the days of "Not worth a Continental", which is why they only allowed for coined money.

    BTW, I think it was New Hampshire that was the most recent state to coin money. But anyway, its a losing proposition for any state to coin real money when the Fed is printing paper like confetti that can be used to buy it. There is some saying about "good' money vs "bad" money that explains it.
     
    #41     Apr 23, 2007
  2. zdreg

    zdreg

    they can't destroy the value of it(gold) but they can confiscate it.

    Gresham's law bad money drives good money out of circulation
     
    #42     Apr 24, 2007
  3. I already posted a St. Louis Fed source of M3 data that shows 10+% growth. You keep denying it. Inflation is due to money supply growth, look it up.

    Have you ever even read a CPI report? I'm pretty sure you have not. Try it, interesting to see how the substitution effect is used.
    I think you should learn how repos and eurodollars work as well.
     
    #43     Apr 24, 2007
  4. Your interpretation would also mean that income tax is illegal and Social Security is only available to residents of Puerto Rico & other insular possessions. Interesting views, but not altogether realistic.

    Hey, what do I care--pay 40% premium on silver certificates to some guy who hopefully will redeem your certificates later.
     
    #44     Apr 24, 2007
  5. Oh, he'll redeem them all right, to keep his "business" "legit", but only after laughing about ripping you off 40%.
     
    #45     Apr 24, 2007
  6. I wouldn't even consider buying those coins.
     
    #46     Apr 24, 2007
  7. On their site they have all these testimonials (prob fake) of people spending the crap.

    Merchants would have to be outta their mind to accept it at face value. The max I'd give for it if I was a merchant is the spot price of silver.
     
    #47     Apr 24, 2007
  8. I see the water level still hasn't risen in this thread.
     
    #48     Apr 24, 2007