LIBERTY DOLLAR NEWS:
September 2011 Vol. 13 No. 09
13th Anniversary of Liberty Dollar
Dear Liberty Dollar Supporters!
Table of Contents:
1. Legal Update
2. 13th Anniversary of Liberty Dollar & 5th of US Mint warning
3. September 23: Turmoil in the Markets
4. Fear trumps Fed's move
5. World Calling for a Global Currency
6. Monetary Conferences Galore
7. Three Dumbest Ways a Gold Standard Can't Work
8. Alex Jones interviews the "Rosa Parks of Constitutional Money"
9. Ron Paul Hearing mentions the Liberty Dollar - Again
10. GATA Speaks at CLSA Investors' Forum on Gold suppression
11. Pending Copper and Silver Orders
1. Legal Update
There have been no new developments in my case or my post-trial motions and the two Amicus Briefs for a new trial or dismissal. As it has been over six months since I was convicted on March 18, 2011, I take comfort in the Hitchhikers Philosophy that I "coined" on a very cold Sunday morning in Terra Haute, Indiana in 1969: "The longer the wait - the better the ride." Please keep your prayers focused on the court and hope that all turns out well. I will post an Alert announcing the Judge's ruling asap.
2. 13th Anniversary of Liberty Dollar & 5th of US Mint warning
Just imagine. THIRTEEN YEARS ago, one lone monetary architect and a handful of patriots lead by Jim Thomas of Media Bypass Magazine launched the Liberty Dollar. FYI, long before the currency was introduced in 1998 it was named the "Petition," then the "Patriot," then "Constitutional Currency" and "American Liberty Currency" when it was launched on October 1, 1998. Later, it was renamed the New American Dollar but when the government complained about that name it was renamed again to American Liberty Dollar.
Finally the little currency that could change the country was renamed yet again to "Liberty Dollar." Once that name was introduced, the Liberty Dollar took on a life of its own. Why? Maybe, it was because the "Liberty Dollar" had been in circulation long enough to achieve a certain critical mass, maybe it was all the good press the new currency generated but most likely it was the results of all the good efforts that so many supporters brought to the public forum.
So on this auspicious Thirteenth Anniversary, I salute the hundreds of thousands of supporters of the Liberty Dollar. The quality and determination that you have brought to the monetary forum is a testament to your determination that our country needs and will be blessed with an honest value based currency… sooner or later. Thank you for all your continued support, for without it the Liberty Dollar would not have made the impact that it has to date. Stay tune for more exciting times! The best is yet to come!!
Just look at what has happened to the USD and precious metals in a few years. In comparison, on October 1, 1998, the day Liberty Dollar was first issued, the spot price of silver was $5.36 and hit $4.80 on October 14, the low for the year. Just this past month, on September 23, 2011, silver lost $4.91 in a single day! It is a well-known phenomenon that markets become more volatile as commodity prices increase in fiat currency. This is particularly true for precious metal markets. So I designed the Liberty Dollar with a series of disciplined Brackets and Move Ups Points to facilitate and protect the Liberty Dollar Standard from the future erratic and wild price of gold and silver, regardless of their prices in fiat currency. I explored the well-known phenomenon of wild free markets in my first economic research paper, To Know Value, dated September 11, 1974.
The beleaguered Liberty Dollar problems officially started FIVE YEARS AGO on September 14, 2006 with the Warning from the US Mint. I say again, stay tune for more exciting times! The best is yet to come!!
3. September 23: Turmoil in the Markets
Gold drops $79 and silver drops almost $5 in one day! At press time, metals are still down and present an enormous buying opportunity. What the hell is going on? This might be called the perfect storm of metals. An overlapping of market manipulations, correction after a stellar rise if metal prices and a huge sell-off by people who need to raise funds from the only sector that had any profits. While this might be seen as a "large" move in the market, percentage-wise it is nothing out of its historical context. The higher the markets - the larger the corrections.
The 10-year gold chart illustrates eight major gold price corrections in this bull market since 2003:
1. 2003 - Gold at $382 dropped to $319 (-16%)
2. 2004 - Gold at $425 dropped to $375 (-13%)
3. 2005 - Gold at $536 dropped to $489 (-9%)
4. 2006 - Gold at $725 dropped to $560 (-22%)
5. 2007 - Gold at $841 dropped to $778 (-8%)
6. 2008 - Gold hit $1002 on Mar 17 then dropped to $746 on 9-11-08 15 (-25%)
7. 2009-10 - Gold hit $1215 on Dec 7th then dropped to $1,060 on 2-4-10 (-14.6%)
8. 2010-11 - Gold hit $1,425 in Dec. 2010, then dropped to $1,315 on 1-27-11. (-8%)
Keep your eyes on the facts and your focus on the fundamentals. I liken this to cocking the catapult. The response will be equally dynamic. Stay tuned for much higher, wilder and crazier markets! The metals market is the new Disneyland for adults. This is all in keeping with a free market turbo-charged by years of gov manipulation that will do almost anything to retain its monetary power as it tries to stay in power. The gov is losing to the free market. Join the party. Buy more silver.
4. Fear trumps Fed's move
Thank God, businesspeople are not yet ready to borrow. Remember when President Bush urged people to borrow money and spend for the betterment of the country! Again the gov whores are finding that Americans are not as controlled as they wish and even they can't push on a string and get results. Click HERE for an interesting article: Fear trumps Fed's move.
5. World Calling for a Global Currency
From almost every corner of the world, somebody, some government, is crying out for a new "Global Currency." Nobody knows what it will be. But with such universal discontent and lack of agreement, the free market may well be the best answer and it may come about via "spontaneous order" as envisioned by Fredrick von Hayek, the noble laureate in economics. Meanwhile, HERE is an interesting article, World Calling for a Global Currency, as the world tries to sort out its crumbling monetary order and morph it into something better that the current morally corrupt fiat system.
6. Monetary Conferences Galore
No shortage of people who want to talk about money! No shortage of opinions either. Here are a dozen conferences and dinners that may be of interest to monetary activists. Unfortunately, I can't attend due to my little legal problem so please let me know if you attend any of these events:
Utah Monetary Conference on September 26, 2011
Atlas Liberty Forum & Freedom Dinner on November 8-9, 2011
Independent Institute's 25th Anniversary Dinner on November 15, 2011
Cato Institute 29th Annual Monetary Conference on November 16, 2011
Casey Research/Sprott Inc. Summit on October 1 - 3, 2011
World Gold Conference on October 3, 2011
Heritage Foundation Conference on a Stable Dollar on October 5 and 6, 2011
Silver Summit on October 20 - 21, 2011
Committee for Monetary Research & Education Dinner on October 20, 2011
The Global Financial Debate on October 26-27, 2011
New Orleans (Gold) Conference on October 26-29, 2011
7. Three Dumbest Ways a Gold Standard Can't Work
If you have signed up for a Google Alert on "Gold Standard" you would be inundated with literally hundreds of links for the 'gold standard' as it is an often-used phrase for food, services, companies and almost anything! I can't think of anything that has not been compared to or referred as the Gold Standard. I have received over a hundred Google Alerts in just a few months!
Fortunately, every once in a while, an article appears that refers to the Gold Standard in monetary terms. Many Google Alerts of note come from Lewis E. Lehrman of The Lehrman Institute, who wrote The Case for Gold with Ron Paul in 1981 and now operates The Gold Standard Now. Most of the Google Alerts are weak at best and a few are so disturbing that they cry out for comment. One such post was 3 Ways a Gold Standard Can Work posted by Jimmy Mengel - Tuesday, September 13th, 2011 on the Wealth Wire.
Editor Notes: I will keep my comments brief.
As the U.S. dollar continues to dive, and more and more investors flock to gold, the gold standard is getting another look. Here are the three possible ways that the gold standard could become a viable money system:
1) Follow Utah
Utah now recognizes gold and silver as legal tender.
In a move designed to undermine the Fed's monetary policy, a new law allows Utah's citizens to store their gold and silver in a vault and use a "debit-like card" to conduct financial transactions. Since businesses will not be required to accept coins either at face or market value, going through a vault would be way the only way to take advantage of the new law.
Peter Schiff is planning a similar operation overseas with his EuroPacific bank, so people can store gold and silver in a Caribbean bank, and uses a linked debit card for transaction.
Editor Notes: 1) "legal tender" is nothing short of gov theft. 2) "In a move designed to undermine the Fed's monetary policy" better be careful when you say that… you could be declared "a unique domestic terrorist" like me:)
2) Follow Ron Paul
Mr. Paul wants to legalize the trading in gold and silver alongside the U.S. dollar to give consumers more choices in how they spend. The metals would be exempt from sales and capital gains taxes.
And he wants to do it soon...
"The gold standard would keep you from printing money and destroying the middle class. Every country where you have runaway inflation, there's no middle class. Mexico, there's no middle class, you have a huge poor class, and a lot of wealthy people. Today we have a growing poor class, and we have more billionaires than ever before. So we're moving into third world status..." Paul noted.
Editor Notes: 1) It is already legal to trade "in gold and silver alongside the U.S. dollar to give consumers more choices in how they spend." 2) Many states do not charge any sales tax on gold and silver. 3) What "capital gains"? 4) True: "The gold standard would keep you from printing money and destroying the middle class." 5) Ditto, true on other comments but what does that have to do with gold or Ron Paul?
3) Follow Steve Forbes
Forbes has predicted that the U.S. would be on the gold standard within 5 years.
In Forbes plan, we would fix the price of gold to the dollar to somewhere around $1500 an ounce: "If it goes much above $1500, the Fed tightens -- in open market operations. If it goes much below $1500, everyone knows its going to ease, to bring it back up. So you just keep it within a narrow range, you don't have to own an ounce of gold."
Editor Notes: 1) "Forbes has predicted that the U.S. would be on the gold standard within 5 years." Wishful thinking by a political mouthpiece. 2) The whole second statement is hogwash. $1500 or any figure will NOT work. Only the free market can ascertain the fair price value that gold should be. The "Forbes Plan" is so utterly ridiculous it defies comment and solicits contempt by anybody but another gov whore.
8. Alex Jones interviews the "Rosa Parks of Constitutional Money"
An increasing number of articles, now almost 200, have been written since BVNH was wrongfully convicted on March 18, 2011. Only five, gov inspired articles, have been anti Liberty Dollar. In addition to the articles, several notable interviews have been recorded. One of the best interviews was by Alex Jones of
www.PrisonPlanet.TV and
www.InfoWars.com. At the end of the interview, Alex labels Bernard, who had previously been labeled a "domestic terrorist" by the Department of Injustice, as the "Rosa Parks of Constitutional Money." This was quite an interesting and pleasant surprise as Judy Shelton, PhD economist and head of Sound Money at the Atlas Economic Research Foundation and one of the many defense witnesses that my attorneys refused to call at my trial, referred to me as the "Rosa Parks of honest money." Regardless of either reference, I am honored by the comparison.
Click HERE for the BVNH/Alex Jones video interview on Prison Planet TV.
9. Ron Paul Hearing mentions the Liberty Dollar - Again
On June 1, 2011 Rep. Ron Paul, R-Texas, who chairs the House Committee on Financial Services' Subcommittee on Domestic Monetary Policy and Technology, introduced H.R. 1098. The bill seeks to repeal legal tender laws, prohibit taxation on certain coins and bullion and repeal certain anti-counterfeiting statutes.
On September 13, 2011, Congressman Paul held hearing regarding House Bill H.R. 1098: Free Competition in Currency Act of 2011. The purpose of H.R. 1098 is to legalize competition in currencies and may legalize the Liberty Dollar with the repeal of Title 18, Section 486 of which BVNH was convicted.
While I appreciate the Congressman's good intentions, I continue to sincerely feel they are very misguided i.e. wrong. The Liberty Dollar is not ILLEGAL! And it does not need any !@#$#@! government Congressman trying to legalize it And Ron Paul, of all people, should know that.
In fact, if he really wanted to do something for liberty in general and the Liberty Dollar in particular, he should have taken action 11 years ago at our ill-fated meeting in his office on the Hill when he shunned me from testifying. He failed to take action then and failed to draw only two people to testify at his "Congressional Hearing" that drew only two people in the audience.
Dr. Lawrence H. White, a professor of economics at George Mason University, discussed the benefits of currency competition, stating that the bill "would not remove the Federal Reserve from the currency market, but it would give the Fed a stronger incentive to deliver the kind of trustworthy money that consumers want." He mentioned the Liberty Dollar and suggested that it could provide a useful alternative in a high-inflation environment. Larry is a very gifted economist who is not afraid to look outside the box and has been a real help and comfort to my development of the Liberty Dollar.
Unfortunately the other witness, Dr. Lawrence Parks, executive director of the Foundation for the Advancement of Monetary Education (FAME), did not mention the Liberty Dollar as he well could as he was featured in my 2003 book: The Liberty Dollar SOLUTION to the Federal Reserve.
I am quite pleased that Liberty Dollar issued the top selling Ron Paul Dollar in gold, silver, platinum, copper and chocolate. One supporter even did a Ron Paul sticker nickel. I still support Ron Paul for president as he is certainly the best of the pack and hope he follows the suggestion that a friend posted on my Facebook wall and names me his Secretary of the Treasury:)! Good luck Ron! I hope you get your head on straight regarding the Liberty Dollar and we both win!
Please click HERE for the Hearing.
The full text of the legislation is available HERE.
Paul holds hearing on legalizing competition in currencies by GATA is available HERE.
Written version of Professor White's testimony is available HERE.
10. GATA Speaks at CLSA Investors' Forum on Gold suppression
Chris Powell, Secretary/Treasurer of the Gold Anti-Trust Action Committee (GATA) spoke on Wednesday, September 21, 2011 at the 18th CLSA Investors' Forum at the Grand Hyatt Hotel in Hong Kong. The title of his speech was: As gold price suppression grows more brazen, maybe Asia will defeat it. It remains to be seen what will defeat the gov manipulation of the gold and silver market but I would bet on the free market. GATA certainly deserves its recent praise for drawing so much attention to the government's obviously illegal and immoral corruption of the free market. There is every indication that the free market will win and I trust that outcome will be sooner vs. later. Lets hope it is sooner. Please click HERE for Chris' well-articulated and very informative speech.
11. Pending Copper and Silver Orders
In response to several emails requesting info on pending orders, quite frankly, I wish I had better news. As I have posted several times before, the gov confiscated "everything." And I mean everything! That means all the orders, all the stock and all the computers. Unfortunately, we cannot even contact people regarding their order. Eventually this sorted mess will be sorted out. But that is going to be some time in the future. I sincerely apologize for this gross and wrongful inconvenience to you and your property. Sooner or later your order will be filled, your money will be returned or the value of your property will be refunded. Please don't give up and never let the government steal your property!!! Please stay tuned to this Newsletter for more info when it's available.
Closing Remarks:
HAPPY 13TH ANNIVERSARY!!! Congratulations on developing such a successful model currency and being a part of the Liberty Dollar!! We have taken the Liberty Dollar further than any other alternate currency in monetary history. Plus we have had a lot of fun and some profits doing it! Stay tuned - the best is yet to come!
My sincere appreciation to the approx 250,000 monetary individuals who support the Liberty Dollar and the ideals it stands for. For it is only by banding together and adopting a free and independent currency that provides us with "just weights and measures" will we be able to throw off the yoke of a manipulated monetary/tax system and generate a peaceful and prosperous society.
Thank you for all your efforts to return America to value - one Liberty Dollar at a time!
Bernard von NotHaus
Monetary Architect/Editor
Editor@LibertyDollar.org
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