by radon » Mon 04 Apr 2011, 00:16:38
$this->bbcode_second_pass_quote('mattduke', 'B')ernard von NotHaus, US political prisoner.
http://www.gadaily.com/index.php/opinio ... -terrorismThe linked story says that "The coining of this “Liberty Dollar” is most likely a part of protests against the printing of paper money and the devaluation of the dollar."
The
Russian story on the subject (linked in
Mr. Orlov's blog) says that Mr. von NotHaus distributed coins made of silver, gold, platinum and copper, and issued paper notes whose value was linked to that of silver, that had the "$" sign and words "dollar" and "Trust in God" on them. This comes to the question what was his real objectives. If he was really concerned with instability of the dollar and genuinely intended to provide people with an alternative saving/payment media, he could call his coins "medals", and his paper "bonds" or "promissory notes" and avoid any placing attributes that could lead to confusing of his makings with the country's legitimate currency. With the financial structuring practices being so sophisticated in the US, the court would then probably have to go in great lengths to prove that he is trying to issue a shadow currency. After all, the banks issue asset-backed securities on an ongoing basis, and this is essentially the same thing - in the case at hand the value of paper is derived from the price of silver. Back in Russia the US dollars served as an alternative currency (if not dominant at times) when the roubles were seen as untrustworthy, but in the US this is apparently not an option

But as can be seen from the articles he seems to have been abusing essential attributes of the country's currency to advance his undertaking. This indeed looks like counterfeiting, against which any sensible government should take an action. If that gentleman had placed an order for smartphones with a Chinese factory, labeled them "Liberty iPhones" and started distributing them to consumers, than Apple would probably have taken a prompt action against him for the trademark rights violation. The government perhaps have even more reasons to do so with respect to something called "Liberty dollars".