Liberty Gold

[Friday]

Has anyone opened an account with Liberty Gold?  Anyone done any research on it and have an opinion one way or the other?

[Ron Helwig]

I have done a little research, but have not opened an account yet.

My opinion is that it is a good way to have some money available for use as FRNs while actually keeping it as gold. It isn't as good as holding actual bullion in your hands, but is better than FRNs. It lets you use gold in your transactions while not requiring you to explain to the store's clerk how "gold is real money and FRNs are not".

Please open an account and fund it with $100, test it, and report your results. (I wish I could afford to test it myself, but right now I can't.)

[Friday]

According to this post on goldismoney.info , there are hefty fees and no way to actually redeem for gold. 

Could this be anything different than 'e-gold'.

https://www.libertygold.co.nz/content/

The Liberty Gold website seems to imply that the Liberty Gold and the Liberty Gold Mastercard are one entity. But a little clicking shows that they are separate.

The liberty Gold is a type of e-gold account and stands alone. The debit card is optional and is a debit card service managed by Eagle prepaid, while the card itself is 'owned' by Newcastle Building Society which is licensed under MasterCard and which seems to specialize in "e"-money accounts.

The Liberty Gold account seems up front except with the MLM kickbacks for referrals. It seems that they would HAVE to rely on the master card fees for paying kickbacks or else it would seem as though the payments and kickbacks were a ponzi scheme.

You have to go to the GBN banks website to see the fees for loading their card and other fees for purchases or cash advances.
http://cards.gbnbancorp.com/terms.aspx


The image on the card is that of a Liberty dollar Gold 1 oz round. Bernard Von Nothaus has stated that the company is not associated with the Liberty dollar program but that he sold the license to his version of the liberty bust to liberty gold.

It is through emails from the Liberty dollar that I've become aware of this e-gold account.


Looking for other opinions and analysis.

It looks like a great way to store gold and be able to transfer value for private purchases to other Liberty Gold account holders. But the MLM referral program throws up red flags due to the low sales premium stated in the LG account fees schedule. 3% for 1K up to $10K. Also there is no present way to redeem gold in cash or gold as of this time. (Says it's coming soon) Neither is the fee schedule (if there is any) posted as of this time for redeeming in Gold or cash.
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Last edited by TonyG; 3 Weeks Ago at 07:39 AM..

[Ron Helwig]

Of course it had to be too good to be true. I was just hoping it could be used as one more tiny step away from the banking cartel.

[Jacobus]

I've had accounts with three different online alt currencies: Crowne Gold, e-gold, and Liberty Dollar.  All three businesses were raided or shut down by the feds.  I cannot afford to try any more of them. 

[Friday]

from Liberty Dollar News, October 2009 Vol. 11 No. 10

I regret to inform you that difficulties have befallen Liberty Gold and its super MasterCard® program. Currently the system is under review and revision. I will gladly inform you of its successes as soon as possible. If you deposited any money into Liberty Gold, you should have received an email informing you of this development and that all your money, less the $39 for the card, will be refunded to you at the current gold rate. Please keep your card, as it is still viable and will be even more valuable when it is reconnected to your Liberty Gold account. Thank you for your interest in this leading edge program.

Well, that didn't take long.   

[Terror Australis]

I recommend Pecunix,which is backed by gold    http://www.pecunix.com/money.refined...welcome
LibertyReserve is another good option               http://www.libertyreserve.com/en/


Currently the gold standard in e-currency is bitcoin which is semi-anonymous ,cryptologically secure and has no transaction fees.See my sig for info.