FBI, Secret Service Seize Thousands of Coins in Raid

Two Tons of Ron Paul Dollars Seized

How did a long-simmering philosophical and legal difference of opinion between a private coin organization and the United States Government spill over into the 2008 presidential elections?

THE HEADLINES FROM EARLIER TODAY:
FBI Raid Seizes 2 Tons of Ron Paul Dollars and the UPDATES

The joint FBI/Secret Service raid on Evansville, IN-based Liberty Dollars today caused a stir in the blogosphere today. The disturbance had to do with the fact that among the items seized by the Agents were nearly 2 tons of Ron Paul dollars.

The mere mention of Ron Paul fires most people up into a Ohio State-Michigan football-like frenzy. This news likely will cause two bitter rival cults, the Pro- and anti-Paul commentators to furious action.

A number of views have already been presented at DBKP about this story and it’s connection to the Ron Paul presidential campaign. Some are for and some are against; trying to weave them into a single tapestry makes one dizzy.

It seems sensible to look at them in order. So, we’ll examine the background first, try to maintain an even balance and let the readers make up their own minds.

This is largely the tale of the fight between Liberty Dollar and the U.S. Government. As some of us feel that the Paul campaign’s involvement was incidental at most, we’ll leave that for a later article.

WHY WAS LIBERTY DOLLAR RAIDED?

Liberty Dollar has been involved in an ongoing struggle with various divisions of the federal government for awhile now. The source of their dispute is whether Liberty Dollar (once named NORFED–National Organization for the Repeal of the Federal Reserve Act and the Internal Revenue Code) is creating its own currency system to compete with the government.

The man who signed the letters that went out from Liberty today was Bernard von NotHaus. Keep his name in mind.

From NORFED’s Historical site:

Please be aware that this is the historic site for NORFED, that distributed the Liberty Dollar (1998 to 2006). Since its founding by Bernard von NotHaus, the Liberty Dollar has consistently gathered momentum by becoming more main stream.

Liberty, naturally denies it; the emphasis there seems to be on using the coins as a sort of “value preservative.” That is, the coins would ensure that the holder had something of value in case of a collapse of the federally-backed paper money.

They also argue that the coins can be exchanged for goods at certain merchants who willingly take them to support the idea of another way of having something of value in case of a crash.

There is a lot of stock market, money system collapse talk among the fanciers of coins. Liberty talks this point up.
From NORFED’s web page:
Andrew Williams, a spokesman for the Federal Reserve in Washington, D.C.:

“There is no law that says goods and services must be paid for with Federal Reserve notes. Parties entering into a transaction can establish any medium of exchange that is agreed upon.”

Paul Harvey, well-known and respected news commentator, reported:

What’s new? The Liberty Dollar! Fed Ex competes with the Post Office. So now there’s the Liberty Dollar competing with the greenbacks printed by your government. The Liberty Dollar is backed by gold and silver. Yes, there’s a competitive currency right here in the United States. In five years it has become the second most popular currency in America.

How does Ron Paul figure into all this?

Read rest of story:

Ron Paul Dollars: FBI, Secret Service Raid Liberty Dollar–An Old Foe 

Sources:

Ron Paul Dollars: FBI, Secret Service Raid Liberty Dollar–An Old Foe

NORFED’s web page

FBI Raid Seizes 2 Tons of Ron Paul Dollars

UPDATES

Mondoreb blogs at Death By 1000 Papercuts. Interested readers can e-mail him at
mondoreb@gmail.com.

Let Others Know About This Post These icons link to social bookmarking sites where readers can share and discover new web pages.
  • blogmarks
  • del.icio.us
  • Digg
  • Fark
  • Ma.gnolia
  • NewsVine
  • Reddit
  • TwitThis
  • Facebook
  • Google
  • Live
  • YahooMyWeb