FBI Raids L. Ron Paul's Supporters
Apparently the FBI and Secret Service has raided the offices of a company which has been selling "Liberty Dollars" and, more recently, "Ron Paul Dollars" allegedly backed by (or minted in) Gold and Silver.<
Why? Well, this company was minting coins and issuing paper notes claiming to be "dollars" and which, at least in the case of the coins, might easily have been taken by individuals for notes and coins issued by the Mint or the Federal Reserve.
Of course, some will claim that these actions are no different than a company issuing gift cards or the like - as has already been attempted. This is utter nonsense. Companies which issue gift cards and the like don't specifically market them as a replacement for the U.S. dollar.
Neither do they, for that matter, sell them at a discount on a dollar-for-dollar basis and encourage people to make money by putting them into circulation.
Perhaps even more hillariously, given the intended market for these things, it appears that the minted gold, silver, and bronze coins were being told at markups of between 25% and 400% on the actual value of the precious metals contained therein. The only thing worse than a Goldbug is a stupid Goldbug and, apparently, these people were that in droves.
Now, Ron Paul's smarter supporters will attempt to distance themselves from such a disreputable operation. They can try and do that, of course - but, frankly, it will be difficult to with fifty pages of teeth gnashing from L. Ron's supporters about the raid. Moreover, any claim that Ron Paul didn't approve of or support this ought to be viewed skeptically in view of the fact that these people have been marketing these coins using his name and likeness since July at the very earliest.
Why? Well, this company was minting coins and issuing paper notes claiming to be "dollars" and which, at least in the case of the coins, might easily have been taken by individuals for notes and coins issued by the Mint or the Federal Reserve.
Of course, some will claim that these actions are no different than a company issuing gift cards or the like - as has already been attempted. This is utter nonsense. Companies which issue gift cards and the like don't specifically market them as a replacement for the U.S. dollar.
Neither do they, for that matter, sell them at a discount on a dollar-for-dollar basis and encourage people to make money by putting them into circulation.
Perhaps even more hillariously, given the intended market for these things, it appears that the minted gold, silver, and bronze coins were being told at markups of between 25% and 400% on the actual value of the precious metals contained therein. The only thing worse than a Goldbug is a stupid Goldbug and, apparently, these people were that in droves.
Now, Ron Paul's smarter supporters will attempt to distance themselves from such a disreputable operation. They can try and do that, of course - but, frankly, it will be difficult to with fifty pages of teeth gnashing from L. Ron's supporters about the raid. Moreover, any claim that Ron Paul didn't approve of or support this ought to be viewed skeptically in view of the fact that these people have been marketing these coins using his name and likeness since July at the very earliest.
posted by Adam Yoshida at
10:45 AM
3 Comments:
Nice attempt at a hit piece....
Readers, do your own research; take these opinions with a grain of salt.
It always shocked me when people speak out against private currencies. Our own Constitution requires that Congress mint and set the coinage of currency, and most State constitutions also require that the States pay all debts in coinage (gold or silver).
I don't think Paul should distance himself from an organization he has no ties to. What they were doing was patriotic, Constitutional, and this aggressive use of force from the U.S. government should be punished by those who swore to uphold the Constitution.
"L. Ron Paul"
LOL
The Paulipalians must be livid over this. ;)
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