Cast Iron Chaos RecentChanges

LoginLogoutRegisterContact the WebmasterPayPal Me

The Liberty Dollar

Ever since the United States abandoned the gold standard, the value of United States currency has been based on our nation's economic buying power and credit rather than on the amount of gold we have stored at Fort Knox. And of course, there's a conspiracy behind it all:

"The organization chaired by Ben Bernake is not 'Federal' – it is instead a cabal of private and international banks that does not answer to the United States government. And while there is some precious metal stored in Fort Knox, it doesn't back the debt based 'fiat' US dollar that they issue, because nothing backs it except your trust in the system! Even a casual look at the Fed’s history leads one to wonder how an institution that profits mightily from its own policies of victimizing Americans has maintained control over the money of the wealthiest nation on Earth." – Intro to the Liberty Dollar

Bernard von NotHaus, "Monetary Architect" (and the former operator of the Royal Hawaiian Mint Company) has decided to do something about this – he has begun minting his own currency to compete with the official Federal currency. What's more, he's even filed a lawsuit against the United States Mint to force them to accept his currency as legal tender. Apparently it's legal to voluntarily use and circulate these coins and bills, as long as the phrase "Legal Tender" isn't actually printed on them.

However, NotHaus has had some trouble keeping up with inflation; the increasing cost of silver makes the coins more valuable for their silver content than their stamped base value.

The Liberty Dollar site has expressed its support for conservative political fads by issuing dollar coins promoting them. During Senator Ron Paul's Presidential run in the 2008 elections, NotHaus' outfit issued special Liberty Dollars with Ron Paul's image on the obverse. And when the so-called "teabagging" political rabble rousers worked to get attention in the media in 2009, this site issued so-called "Teabagging dollar" coins.

NEWS FLASH! Evidently the federal government doesn't like competition from the Liberty Dollar. In early November of 2007, von NotHaus' business was raided by federal agents, and his entire inventory of Liberty Dollars (both coinage and paper) was confiscated. NotHaus himself is facing charges of money laundering, mail fraud and wire fraud. As a result, the Liberty Dollar page notes that it cannot accept any new orders until "after the trial."