Feds Arrest the Liberty Dollar Competition
The actual charge the feds care about is at the end, that the Liberty Dollar is "intended for use as current money," in direct competition with the state. Should someone be allowed to mint whatever he wants, charge whatever he wants, and try to pass it as money? Of course, so long as no fraud is involved (fraud being a government monopoly). So it is an outrage that these four people have been arrested for non-crimes, and will be tried in a federal kangaroo court, where they will not be allowed to mention the Constitution or many other things, and perhaps be put in cages for years when they are pronounced "guilty."
I am not a big Liberty Dollar guy. I don't own any Liberty Dollars. I thought about getting one as a novelty once. They way our government is running the printing press though I think the argument for the Liberty Dollar gets stonger every day.
Reading this reminded my of The Gold Standard. The government outlawed private ownership of gold in 1933 and they mandated that all safe deposits be opened in the presence of IRS agents.
It seems as if the government is hostile to the community using any of store of value other than the Federal Reserve Note. They want to use the printing press to finance all of their spending, and they don't want competition. There is no way out.
The inflation that is going to hit us is going to be substantial.
Via Don Boudreaux at Cafe Hayek, here is Keynes on inflation:
By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls . . . become 'profiteers', who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished not less than the proletariat. As the inflation proceeds . . . all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless.
I stand with Lew Rockwell. FREE THE LIBERTY DOLLAR FOUR! Sphere: Related Content