An attempt to explain the LD's premium above spot.
In order to understand the Liberty Dollar, one must
first comprehend the fraud being perpetrated upon We
the People via the propagation of the Federal Reserve
Note.
The Coinage Act of 1792 stipulates the exact
specifications for money, and the only lawful monetary
components consist of gold, silver and copper. Any
paper representing money is to be fully backed by
these same monetary metals.
The Federal Reserve, aka, The Creature from Jekyll
Island, introduced an elastic, fiat currency in 1913,
and it took 51 years of inflationary debasement to
remove silver from the coinage, another 7 years to
remove gold, and finally copper was all but eliminated
11 years later. Since 1913, the U.S. Dollar has lost
over 96% of its purchasing power, just as it was
designed.
In accordance with the Coinage Act of 1792, monetary
debasement is a crime punishable by death, yet We the
People have been using a fully debased currency for 26
years now.
Enter the Liberty Dollar, which indeed was the
brainchild of one Bernard von NotHaus, but has now
become a grassroots monetary phenomenon which CANNOT
be stopped via the usual totalitarian tactics of
slander and grand-theft.
Make no mistake that the FRN was indeed engineered to
LOSE purchasing power, via the hidden tax called
inflation, and thus ends the similarity between the
Liberty Dollar and the U.S. Dollar.
Yes, one could argue the use of the term "dollar"
smacks of similitude, but we need to understand the
definition of a dollar:
In accordance with the Coinage Act of 1792, which is
the ORIGINAL monetary law of the United States, one
dollar is 371.25 grains of silver. The original Tala
was a German, silver coin produced in the 15th
century, and the silver, Spanish Milled Dollar was the
prevailing currency of the day when the United States
Constitution was ratified.
As for the current (soon to be increased) face value
of $20 for a one-ounce Silver Liberty: I trust you
will agree that today $20 is a good deal for one-troy
ounce of silver with the silver spot price above $18
FRN.
Critics screamed bloody murder when the first $10
Silver Liberty was introduced, because it was SO FAR
above spot price, and yet, when the spot price reached
$8 FRN, the $10 Liberty was another good deal.
Are you seeing a pattern yet? The Liberty Dollar was
engineered to demonstrate the devaluation of the
Federal Reserve Note, while at the same time providing
value to the owner.
If I had kept a shoe box full of ten dollar bills
instead of trading them each for one ounce of silver
back in 2006, I would now be able to exchange that box
full of "money" for roughly half that amount of silver
today.
In accordance with its engineering specifications, the
FRN is going down, and will soon reach its true value
of ZERO.
The Liberty Dollar, on the other side of the scale, is
gaining value relative to the FRN, and right on cue.
So like it or not, the Liberty Dollar has already made
many people very happy, and as I mentioned in another
post, business is going so well that I can barely keep
up with orders.
In due time, the Liberty Dollar will be fully
vindicated, and concurrently, the Federal Reserve Note
will be fully implicated as the inflationary tool with
which the tyrannical, monetary elite intend to
subjugate We the People under the growing smog of
economic depression.
If making a profit is a criminal act, then why are the
Federal Reserve Board members freely traveling between
homes and vacation spots in their limousines, personal
jets, and yachts?
