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Author Topic: Liberty Dollar Bank or CU  (Read 15191 times)

Power Penguin

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Re: Liberty Dollar Bank or CU
« Reply #15 on: February 28, 2006, 08:48:59 pm »

No offense, but are you the real Bordosi? I thought that guy was in his 80s or 90s and died 10-15 years ago. Anyway, what do some people have against the ALD? I would argue that the vast majority of people would be into it.
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RalphBorsodi

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Re: Liberty Dollar Bank or CU
« Reply #16 on: February 28, 2006, 10:05:47 pm »

Quote
what do some people have against the ALD

as a mutualist I don't view money as a private commodity but rather as a social construct that is part of the social commons and we all have an equal access right to...
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FTL_Ian

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Re: Liberty Dollar Bank or CU
« Reply #17 on: February 28, 2006, 10:48:53 pm »

No offense, but are you the real Bordosi? I thought that guy was in his 80s or 90s and died 10-15 years ago. Anyway, what do some people have against the ALD? I would argue that the vast majority of people would be into it.

Some people think it's a scam, and think they know best how to do private currency.  Of course the complainers just complain and don't actually do anything about it, like say starting their own competing currency.

I agree with you PP, I love the LD.  I also find the Phoenix Dollar interesting, though I have not done much research on it.  The more competition the merrier!

You can learn more about the Liberty Dollar here:  http://dollar.freetalklive.com
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freedom's ideologue

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Re: Liberty Dollar Bank or CU
« Reply #18 on: February 28, 2006, 10:59:04 pm »

I've got a great new currency.  I call it the "Ripoff".  I sell you one "Ripoff", which is an ounce of .999 fine silver, and charge you $100.00.  I'm thinking of starting my own Ripoff Bank and trying to get as many Ripoff Associates as I can.  If you agree to buy 20 of my Ripoffs, I'll give you a miniscule discount.  You'll be able to buy my bullion silver coin (the Ripoff) for only $98.13.  Wow!  What a steal!  You can then sell the Ripoff for $100 and make a $1.87 profit!  (Just as long as you don't tell people that they can get them from me for $98.13 ... if you do that, you can kiss your tiny profit goodbye.) 

Who knows, maybe if the Ripoff gets real successful, we could even form it as a pyramid scheme.

The LD needs to get real.  Gold and silver aren't a joke.  They are turning it into one.

Caleb
« Last Edit: February 28, 2006, 11:04:33 pm by calibaba77 »
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FTL_Ian

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Re: Liberty Dollar Bank or CU
« Reply #19 on: March 01, 2006, 02:39:06 am »

Yes Caleb, you can get the currency at a discount, if you join as an associate.  Being an associate is not for 99% of people.  Most people just want to spend and save money, they don't want to be a distributor of it.

That's all the discounting system does, is it gets the currency into circulation by rewarding the distributors for spending it.  This is how distribution of currency works.  With the FRN system, the banks buy Federal Reserve Notes at pennies on the dollar and resell them to you at full face value.  Of course with the FRN you're getting paper, with the LD you get silver.

There's no scam here, just misunderstanding on your part.

To learn more: http://dollar.freetalklive.com
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RalphBorsodi

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Re: Liberty Dollar Bank or CU
« Reply #20 on: March 01, 2006, 07:34:40 am »

Quote
the banks buy Federal Reserve Notes at pennies on the dollar and resell them to you at full face value.  Of course with the FRN you're getting paper, with the LD you get silver.

Why doesn't the Federal Reserve just spend the FRNs into circulation rather than have the banks loan them into circulation?

Ralph Borsodi
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JasonPSorens

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Re: Liberty Dollar Bank or CU
« Reply #21 on: March 01, 2006, 11:34:58 am »


Why doesn't the Federal Reserve just spend the FRNs into circulation rather than have the banks loan them into circulation?

Ralph Borsodi

They do that too - open-market operations.
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freedomroad

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Re: Liberty Dollar Bank or CU
« Reply #22 on: March 01, 2006, 04:37:07 pm »

That's all the discounting system does, is it gets the currency into circulation by rewarding the distributors for spending it.  This is how distribution of currency works. 

I completely agree.  This is how silver and gold coins work also.  The mines make money and the distributors like Pan Am make money.  That is why places tend to charge a 50 cent to 75 cent charge on an ounce of silver in bulk and even more for just a few coins.  It costs money to distribute.
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Power Penguin

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Re: Liberty Dollar Bank or CU
« Reply #23 on: March 02, 2006, 03:42:56 am »

No offense, but are you the real Bordosi? I thought that guy was in his 80s or 90s and died 10-15 years ago. Anyway, what do some people have against the ALD? I would argue that the vast majority of people would be into it.

Some people think it's a scam, and think they know best how to do private currency.  Of course the complainers just complain and don't actually do anything about it, like say starting their own competing currency.

I agree with you PP, I love the LD.  I also find the Phoenix Dollar interesting, though I have not done much research on it.  The more competition the merrier!

You can learn more about the Liberty Dollar here:  http://dollar.freetalklive.com

I have a phoenix dollar account, but I don't have any currency yet. I'm waiting on an ALD order right now.
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Jason Orr

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Re: Liberty Dollar Bank or CU
« Reply #24 on: April 07, 2006, 07:02:58 pm »

Could someone explain to me how Liberty Dollars work?  I'm afraid I don't know much about monetary systems [U.S. public schools avoid the subject-- go figure] or finance.  Do I just trade in $20 in FRN currency for a $20 silver Liberty Dollar coin, and then proceed to use it as I'm used to using money, i.e., exchanging it for goods and services?
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Power Penguin

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Re: Liberty Dollar Bank or CU
« Reply #25 on: April 07, 2006, 07:42:42 pm »

Yup! You got it! :D
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lloydbob1

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Re: Liberty Dollar Bank or CU
« Reply #26 on: April 07, 2006, 09:15:04 pm »

You might have brick and mortar eventually, but, you might want to start out as a traveling bank due to how few customers you will have in the beginning and how spread out they will be.
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FTL_Ian

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Re: Liberty Dollar Bank or CU
« Reply #27 on: April 07, 2006, 09:46:23 pm »

Could someone explain to me how Liberty Dollars work?  I'm afraid I don't know much about monetary systems [U.S. public schools avoid the subject-- go figure] or finance.  Do I just trade in $20 in FRN currency for a $20 silver Liberty Dollar coin, and then proceed to use it as I'm used to using money, i.e., exchanging it for goods and services?

Feel free to dig around here for details : http://dollar.freetalklive.com
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maxxoccupancy

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Re: Liberty Dollar Bank or CU
« Reply #28 on: April 08, 2006, 02:20:33 pm »

There is already a way to do this, and get around a lot of banking regulations at the same time.  Mutual funds are able to offer checking accounts based on the changing value in your account.  You could open up an account, buying gold, silver, and/or other commodities, even putting money into index funds.  When you get out your debit card, you are spending dollars out of that.  If the other person has a similar gold account (most/all of the money is invested in gold) there is only a minimal transaction fee that is taken.  Rather than gold or silver, I would rather keep my money in a diversified index-securities fund, but you could choose whatever you wanted.

In other words, you are only switching to dollars at the point of purchase.  You wouldn't necessarily even need a physical bank.  You could make a deal with VISA or MasterCard, or we could start up our own logo, and start signing up local New Hampshire businesses by offering a discount (1.5% of each purchase instead of 2%) and wave entry costs for NH businesses that sign up early.

For privacy, you could even use a bank located in the Cayman islands.  There are lots of ways around these regulations if you think creatively.  The whole thing operates at a profit, if we figure things out correctly.

--Max
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Re: Liberty Dollar Bank or CU
« Reply #29 on: April 08, 2006, 03:44:57 pm »

I would like to see a bank that handles ALD as well as FRN.  I want privacy, no SS required to open an account, and no FDIC insurance.
No FDIC insurance? Can someone explain why to me, please?
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