FBI raids seize dies, records in CdA: Operation targets ‘Liberty Dollar’
As part of a nationwide investigation, FBI agents raided three Coeur d’Alene business locations on Thursday, seizing records and dies used to make the so-called silver “Liberty Dollar” sold throughout the United States by anti-government patriot groups.
The Coeur d’Alene raids coincided with similar raids by FBI and U.S. Secret Service agents, on Thursday at the Evansville, Ind., headquarters of organization called NORFED – the National Organization for the Repeal of the Federal Reserve Act & Internal Revenue Code.
For a decade, the organization led by a self-described “monetary architect” and harsh critic of the Federal Reserve System has pumped out an estimated $20 million its own currency, reportedly backed by silver coins minted and stored in Coeur d’Alene. The raids Thursday are the first head-on federal challenge to that operation.
Numero Uno: Anyone who takes a “Certificate” for their precious metals is a fool. Until you are holding it in your hand, you don’t own it.
#2: When you are an FFL or work for an FFL, if you like to stay employed, you have to watch what you say. If some jackass comes up and wants to talk about making suppressors, you say you don’t know anything about that and turn away. I worked behind the tables at gun shows for too long to go flapping my lips on topics only fools and feds talk about.
Same goes for these guys. They went around talking about how they were going to shut down the Federal Reserve (pdf link) with their metal-backed money and pissed the wrong people, namely the Federal Reserve, off. Talk of that type is most likely not covered under the 1st Amendment, though it should be.
I guess we’ll see. Won’t we?
And that is one of my biggest problems with the Libertarian-types: They piss into the wind and then wonder why their shoes are wet. The government doesn’t like competition, which is why you shouldn’t steal. But what it hates even more than that is when their power and positions are threatened by average citizens. It tends to make them find arrest and search/seizure warrants and use them.
If these guys were smart, they have stuck with their “We’re just a group of like-minded folks who like to barter and every now and sell goods for precious metals” line. But they had to go and start talking all “Mr. Big Pants” to the Fed. Its like they don’t they know anything about subtlety and how much easier it is to undermine a castle’s wall quietly with a shovel than it is to start banging on the damn thing with a mallet.
I buy my precious metals from a local minting group. In fact, I think I still owe David some info about them. I don’t go through the mail and I don’t bother with businesses that have loud mouths.
I’m truly sorry about the demise of the Liberty Dollar, the business itself, but more so for those who just had their “backing” confiscated. The company is telling the investors to file a class action suit to get their money back.
I wish them luck. Once the government has your money, you have to spend unpleasant amounts to get it back. That way, the government gets to tax your lawyers.
Btw, this is what real money looked like before the socialism of FDR
I don’t get it, what did they do, exactly, that was illegal, and what was the search warrant for? It’s definitely not illegal to print your own currency as long as it’s not claming to be legal tender. I don’t see how one of their coins or certificates is any different than bartering food for precious metals or tires or wal-mart gift certificates.
Tom, hit the pdf link for some letters that went between the Dollar folks and the Fed. Some explanations are in there.
They actually don’t seem to have done much other than shoot off their mouths and grab the attention of Uncle Sam’s Bank.
While it shouldn’t be illegal, those with the suits have apparently found some obscure fraud statute to charge them with. I’d be suspicious of the charges except that the Liberty Dollar folks aren’t telling anyone the specific charges either. You’d think that would be the first little bit of information they’d want to get out to their people, but since they aren’t talking, it is making me suspicious of both parties.
Here I am with the shovel I spoke of, and those dingbats start going off with the sledgehammer and bringing attention on all of us metals folks.
That is just what we need if Billary gets into office is to have this up in the air for everyone to see. Gonna have another pro-“shut shut down the private ownership of metals” socialist in the White House and an example the media can ramp up to show why said legislation is “a good idea”.
They were the nail that stuck up, and they attracted a hammer. End of story.
We get this bushwah all the time in OR. First it’s the “church” that issues it’s own “driver’s license” and “license plates”, then it’s the guy in AR making M1919 machine guns and stupidly engraving them with an anti-government slogan, then some OR scammers who were operating an offshore “Bank” where one could keep one’s assets secure from the Feds, and now this.
I’d be a card-carrying Constitution Party troop by now if they got themselves out of the Church of the Weird.
The hell with your big-L Libertarians, they’re too soft on communism, amongst other things, but they are also members of the Church of the Weird.
Now, I havent heard anything about this outfit before, nor did I take time to read up on it, as I only have one thing to say: If this is really some type of outfit that is selling paper currency *supposedly* backed by metal, anyone who is dumb enough to fall for it deserved what they get, which is nothing. Now, I can see quite a number of advantages to using gold,silver, and even copper these days, for currency. But I cannot see any advantage to buying paper from a private bank – how could you expect them to be any better than uncle sugar?
There were over a hundred private banks and dozens of mints across the US before the country standardized it’s monetary system. I may be wrong, but I believe that the Morgan dollars were private.
The one advantage of a private bank and their metal backed notes is that, unlike “Uncle Sugar” they have to perform or go under. If no one trusts their currency, or even the content of their metal coins, for whatever reason, then they go under. Also, they are legally obligated to redeem all paper monies issued for whatever their denomination in metals.
If they don’t have it, they you can go to court and get it from them.
Try that with the Treasury.
But I tend to just grab the metal and go, myself. Like I said in the post, it ain’t yours until it is cold and in your hand (aka: Cold, Hard Cash).