FBI raids Liberty Dollar - confiscates all Ron Paul dollar

Get 'em while they're hot!

http://cgi.ebay.com/RON-PAUL-Silver...ryZ39489QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Anything, from anyone who is willing to accept it as payment.

The metals it is backed by.

So Scorponok's thread reminded me of this one. Whatever happened?


Was it a hoax or not?

Ya but the reasons were fraud and money laundering, nothing to do with the toy money itself.

Yah, but you had to read the fine print where it was pointed out that the company wasn't putting out certified bullion coinage...which means that if you'd tried to change it for legal currency of any type, the best you could get is scrap value, not the commodity value.

So did the company actually or only allegedly commit fraud? Where are we at on this issue?

Wouldn't it be sadly ironic if these spokesmen for libertarianism and alternate currency systems turned out to be shady crooks?

Anyone who buys fake money with real precious metals deserves to be the victim of fraud.

I'd be shocked.

Why the fuck can't you just buy gold bars? Why does it have to be in goofy coin form?

You can just buy gold bars, or bullion coin from certified producers. The reason for buying it in that "goofy coin form" from a recognized minter is to guarantee that you've got the level of purity of metal required for commodity trade, which is at least 99.999% metal purity.

You could have stopped right there. That is why I don't really have any sympathy for them.

It wasn't fake money, technically...

I'm not saying it was, it is a very stupid use of your real money though.

It was no more "money" than Green Stamps are.

Yes and no... Using your money to buy into gold or silver isn't a stupid idea overall... It's a rather effective way to secure your money against inflation, which is a good thing at this point in time with the way the dollar is going.

Perhaps you should all read Ian Fleming's Goldfinger.