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Author Topic: How about a gold and currency exchange?  (Read 14208 times)

WHR4

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How about a gold and currency exchange?
« on: May 01, 2003, 11:41:19 am »

I know a lot of Freestaters are also interested in hard currencies.  For some reason, lovers of individual liberty seem to dislike fiat currency and centralized banking regulations.  Go figure.

Perhaps a gold and currency exchange business would go over well in the Free State?
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Eric

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Re:How about a gold and currency exchange?
« Reply #1 on: May 06, 2003, 06:27:53 pm »

IIRC, Liberty Dollars http://www.norfed.com/ are backed by silver stored at the Sunshine Mint, which is located in Coeur d' Alene, Idaho.


eric
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Norris

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Re:How about a gold and currency exchange?
« Reply #2 on: May 08, 2003, 05:19:00 am »

Joe,
One small thing a Free State could do is abolish any state taxes on sales of precious metals if it had any.

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heyerstandards

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Re:How about a gold and currency exchange?
« Reply #3 on: May 09, 2003, 09:47:16 pm »

[Free State] is guaranteed a savvy and vibrant metals exchange market when it merely obeys the central governments' Constitution.  Art I, Sec 10 is plain as day, to wit "No State shall make any Thing but gold and silver Coin a Tender in payment of Debt."  

In other words, if the states weren't busy wiping their arse with the Constitution, they'd realize they are required to collect state debts (taxes, fees, assessments, judgements) in gold and silver coin.

States are also prohibited from minting coins (and issuing bills of credit but what state doesn't have bonds?)  Being the law abiding people that we are, we will insist that our [Free State] denominate fines, levies, and taxes in ounces of gold or silver.  Let the market sort out how many federal reserve notes are required to buy an oz of gold or silver.  

You want to make Alan Greenspan sweat?  Tell him a state won't accept his endless stream of fiat credit as payment for debts.

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Jacobus

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Re:How about a gold and currency exchange?
« Reply #4 on: May 13, 2003, 11:22:44 am »

Quote
I'm a retailer.
I'd end up stuck with a bunch of paper Liberty dollars
or
a pile of $10 one-ounce Silver coins worth $5 in silver.

You would prefer to end up with a pile of paper FRNs worth a tenth of a gram of silver?
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di540

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Re:How about a gold and currency exchange?
« Reply #5 on: May 13, 2003, 11:38:32 am »

Quote
I'm a retailer.
I'd end up stuck with a bunch of paper Liberty dollars
or
a pile of $10 one-ounce Silver coins worth $5 in silver.

You would prefer to end up with a pile of paper FRNs worth a tenth of a gram of silver?
.
They will be redeemable in silver coin, if Congress ever
revokes the Fed's charter.
.
A retailer doesn't have to be stuck with anything. Just hire
an agent as a middleman who accepts anything and applies the
appropriate exchange rate. Retailers already hire VISA as such
a middleman. VISA customers from Canada can walk into your store,
and you won't realise they paid the middleman in Cdn$. Likewise,
they might not realise that you are ultimately getting a credit
to your Kitco pool account, even if they read the sign stating
that all prices are in terms of official U.S. silver coin.
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Jacobus

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Re:How about a gold and currency exchange?
« Reply #6 on: May 13, 2003, 12:20:20 pm »

Quote
They will be redeemable in silver coin, if Congress ever
revokes the Fed's charter.

That will never happen.
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skypod

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Re:How about a gold and currency exchange?
« Reply #7 on: May 16, 2003, 10:37:09 am »

I think that something of this nature would be a nice idea for members of a Free State to have and exchange, separate from Federal Reserve Notes. But I don't like the NORFED/LibertyDollar scheme, and here's why:

http://www.libertydollar.org/NRC/NRC_About.asp
"It only takes $250 to become a RC. Out of the $250, your new RC gets back
$100 Liberty Dollars, your sponsor gets $100 in FRNs for sponsoring your new
RC and NORFED retains $50 for administration fees. Your new RC is now
upside-down for $150, but since you get $100 for every RC you sponsor, just
sponsor two friends and now you are up $50."

Then they say: "NORFED is not a Multi Level Marketing program (MLM). The RC
program is a single tier sponsorship program, so create as large a base as
possible, as soon as possible,..."

IT SURE FITS THE QUALIFICATIONS OF AN MLM. Perhaps they should read what an
MLM does before claiming they aren´t one.

if their "money" isn´t universally accepted, what´s the point? I can barter
using my own skills, which cost me nothing to own.

They, on the other hand, claim that it´s "fun", and you can "buy
LibertyDollars at a discount and use them at a profit" -- which is pysically
IMPOSSIBLE, and NOT TRUE EITHER. There AIN´T no such thing as a free lunch.

They are in it to make money like any other business, not for the good of
anyone, or they´d be giving them away without asking for $250 to be a
"Redemption Center".

A few more things...

Although they are selling a legitimate product, it is something that nobody
needs. They create the illusion that users of their product are doing
something good for the country, while at the same time, marketing their
product as something that you can use to make money.

If you do choose to become an RC and pay the $250, you loose $150 right up
front (which they admit), and the way they claim you should make it back is
by recruiting MORE RCs! Because every time someone signs up under you, you
make money off their sales of LibertyDollars.

This is obviously not a scheme to "help America."
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Freestatepatriot

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Re:How about a gold and currency exchange?
« Reply #8 on: May 17, 2003, 02:00:53 pm »

I have 20 Liberty Dollars that I'll probably never be able to spend.  But, if I can unload them sometime, I will.

What gripes me are the Norfed supporters that tell glory stories of passing off the Liberty Dollar silver on convenience store workers and such.  They act like it's some sort of victory, when most of the time the poor employee doesn't really understand what it all means and believes that the bank will accept the coin.

It looks like a scam to me...one for which we'll all be hearing about and seeing someone hauled away in handcuffs for fraud.

Adam G.
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George Reich

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Re:How about a gold and currency exchange?
« Reply #9 on: May 25, 2003, 08:09:50 am »

I have 20 Liberty Dollars that I'll probably never be able to spend.  But, if I can unload them sometime, I will.

In the unlikely event that Maine is chosen as the free state, you might get your chance to spend them. Over 200 Maine businesses now accept the Norfed dollars as at least partial payment for their goods and services...
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SBottari

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Re:How about a gold and currency exchange?
« Reply #10 on: July 24, 2003, 12:59:21 am »

Yeah, I got into this too.  I still like the idea, but it involves you being a salesmen of sorts.  It's not true pyramid scheme (i.e. Norhaus isn't getting really rich from this), but still is close.  It would really work if it were totally used in a city, county or even state unilaterally.  But, normally, you take a loss.  I believe his intentions are at least somewhat honest, but it's just hard to penetrate the status quo.  

Also, if you want to dump off any you have - the Libertarian Party will accept them.  And I will be able to exchange then once we're in the Free State since I am an RC.  Just don't call me before that time due to my current housing arrangement, please.   Leave me a message here if you want an exchange.

Steve
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skypod

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Re:How about a gold and currency exchange?
« Reply #11 on: August 14, 2003, 10:14:25 am »

I've been doing some searching. Besides NORFED, there are also others out there dealing with solid metals:

http://www.Crowne-Gold.com
http://www.Gold-Eagle.com
http://www.GoldfingerCoin.com
http://www.KitCo.com
http://www.Silver-Investor.com
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