Big, bad news! Liberty Dollar offices raided.

[David]

A little hard to exchange them in texas huh?   

[inertia]

Secret Service-FBI raid Second Life's HQ, seizing all Lindens (satire)

http://www.unconfirmedsources.com/index.php?itemid=2867

"The problem with the U.S. Dollar has nothing whatsoever to do with our own inflationary policy here at the Fed. The problem is that you have people trading U.S. Dollars for Lindens, to use Lindens as an alternative currency. That represents a very real threat to the stability of the Dollar, and the U.S. economy as a whole," said Federal Reserve Chairman Ben Bernanke.

[PattyLee loves dogs]

I read that the Lindens actually are inflated by Second Life. So the Second Life economy will have the same problems the US economy does... except that they probably won't be dumb enough to let virtual banks use subprime mortgages on virtual property as "assets".

[Luke S]

I hate to break it to you guys, but the Liberty Dollar really was illegal, and von NotHaus really did break the law by making it. In fact, it's illegal to make any gold or silver coin and use it as money, unless you are authorized by the government. Read 18 U.S.C. § 486

[Luke S]

Oh, and just so everyone knows, I'm not praising this law. I think it's a terrible law.

[K. Darien Freeheart]

I hate to break it to you guys, but the Liberty Dollar really was illegal, and von NotHaus really did break the law by making it. In fact, it's illegal to make any gold or silver coin and use it as money, unless you are authorized by the government.

But it is TOTALLY legal to trade one good or service for another (at least, for now). Nothing prevents me trading my hammer for your stereo as long as that trade is consentual. In the similar vein, nothing prevents on person from trading a .999 pure silver piece (understood by BOTH parties as NOT legal tender but a trade good) for a good or service.

I disagree with the law's existance, but I have to admit personally that the LD went a bit too far, IMO and could be considered decietful. But there's no prohibition against trades and should it become illegal.. well... so are public puppet shows.

[watershed]

I hate to break it to you guys, but the Liberty Dollar really was illegal, and von NotHaus really did break the law by making it. In fact, it's illegal to make any gold or silver coin and use it as money, unless you are authorized by the government. Read 18 U.S.C. § 486

No Shit Dumbass...noone cares about the Law, its about personal property and free trade!

[srqrebel]

Whoa there, watershed... calling a new forum participant names when he is just trying to be helpful, is definitely not cool.

[coffeeseven]

I hate to break it to you guys, but the Liberty Dollar really was illegal, and von NotHaus really did break the law by making it. In fact, it's illegal to make any gold or silver coin and use it as money, unless you are authorized by the government. Read 18 U.S.C. § 486

In my mind it all boils down to the old Libertarian chestnut: Who is the boss of you?

[watershed]

Sorry, my wife calls me this all the time...I thought it was a term of endearment.

[John Edward Mercier]

It was supposed to be trading of goods, but by marking it with a face value in USD...
and then making the statement about constitutional money in reference to the LD, it gave just enough of a push to make the raid. Whether the US Treasury can make the case is a questionable.

[Ron Helwig]

I hate to break it to you guys, but the Liberty Dollar really was illegal, and von NotHaus really did break the law by making it. In fact, it's illegal to make any gold or silver coin and use it as money, unless you are authorized by the government. Read 18 U.S.C. § 486

Its illegal to make "coins", but since only government can make "coins", Bernard is OK. (The government defines coins as things they make.)

The Liberty Dollar isn't illegal, the government is.

The real problem with the Liberty Dollar was the monopoly manufacturer (i.e. they had a head that could be cut off)

[Kat Kanning]

Sorry, my wife calls me this all the time...I thought it was a term of endearment.

LOL