Liberty Dollar currency

[Michael Fisher]

What are LD associates going to do with the >50% scam when the LD organization creates $20 LDs that are worth less than $10?

Then will you still have the heart to try to use them?

http://www.libertydollar.org/html/silverover10.asp

What happens to the American Liberty Currency when silver rises over $10.00 per ounce?

ANSWER: When the price of silver rises near $10 per ounce, a new $20 Warehouse Receipt series will be issued. ... The new $20 denomination certificate will be backed by one ounce of .999 silver.


Will you still have the heart to use them for $20 when they're worth $10?   ???

[Michael Fisher]

Ah, but on the other hand do you have the heart to give someone 2 cents of truly worthless of high-quality paper for a $20 widget?

Yeah, because it's an honest transaction.  They don't think the dollar is made of gold.  They know it's paper.

[Elvis]

Ah, but on the other hand do you have the heart to give someone 2 cents of truly worthless of high-quality paper for a $20 widget?

Yeah, because it's an honest transaction.? They don't think the dollar is made of gold.? They know it's paper.

But you neglected to take the time to educate them on what it is really worth.? You simply handed it over, as if it were really as valuable as the widget.? It sounds as though you're taking advantage of peoples ignorance.

[Michael Fisher]

Ah, but on the other hand do you have the heart to give someone 2 cents of truly worthless of high-quality paper for a $20 widget?

Yeah, because it's an honest transaction.? They don't think the dollar is made of gold.? They know it's paper.

But you neglected to take the time to educate them on what it is really worth.? You simply handed it over, as if it were really as valuable as the widget.? It sounds as though you're taking advantage of peoples ignorance.

Nah, they want USD so I'm giving them USD. 

It would be nice if we could use the idea I came up with at one point:  daily USD-equivalent value certificates for silver rounds.  You hand a silver round to someone, point at the exact value of the coin and the local coin shop's name and phone number, and it's an honest transaction as long as there's a time limit on when it must be redeemed by, outside of which the value may change, but usually not drastically. 

[Michael Fisher]

The only "problem" with this idea is there's very little profit incentive for the coin shops or for those who use the coins, but that's natural with gold and silver used as currencies.

OR we could create temporary gold or silver certificates that are worth the exact amount of gold or silver listed on them in USD with an expiration date on the certified value after which the coinshop may change the value.  This is also an honest solution.

I still believe it would be the best long-term solution to teach people that ounces of silver and gold, not USD, are true value, so we can get away from the USD altogether.  But that will take time.

[Ron Helwig]

It would be nice if we could use the idea I came up with at one point:  daily USD-equivalent value certificates for silver rounds.  You hand a silver round to someone, point at the exact value of the coin and the local coin shop's name and phone number, and it's an honest transaction as long as there's a time limit on when it must be redeemed by, outside of which the value may change, but usually not drastically. 

https://www.phoenixdollar.net/ - go ahead and try it.

There's some real problems here though, in my opinion:
1) the cost (in time and infrastructure) to track the value of silver in FRNs (daily/hourly/instantaneous value specifications?)
2) the cost (in time and the cost of a calculator) to convert the values
3) the time limit!
4) how do you allow the seller to redeem each silver piece for what the transaction specified its value was?

I believe that, for the time being, the extra transaction costs involved in this sort of system make it impractical.

[Ron Helwig]

Ah, but on the other hand do you have the heart to give someone 2 cents of truly worthless of high-quality paper for a $20 widget?

Yeah, because it's an honest transaction.  They don't think the dollar is made of gold.  They know it's paper.

But you neglected to take the time to educate them on what it is really worth.  You simply handed it over, as if it were really as valuable as the widget.  It sounds as though you're taking advantage of peoples ignorance.

Nah, they want USD so I'm giving them USD. 

Do you explain that they're not getting dollars when you write a check or use a credit card? When you use a coupon? When you use FRNs? (they aren't dollars either, you know)

I don't know a lot of Liberty Dollar users that don't try to explain what it is when using it. For most of us the primary reason we are using it is to educate people, so the natural thing to do is to talk about it when using it.