Liberty Dollar Thoughts

[msparks]

I've been thinking lately of promoting local voluntary barter currency--ie the liberty dollar.

I like the idea of adding more sliver to my investment, plus I can make a little money at it as well.


Is this a good idea, or am I whacked out?

Do you think folks would accept the idea of a "hard" currency that is inflation proof. Plus give the idea incease one day we need to find an alternate way of doing business if S.H.T.F.

http://www.libertydollar.org

The investment is small, and I can make 10-20% on my investment.

 

[msparks]

Oh, forgot, here is the current offering prices.

http://www.libertydollar.org/index1.php

Looks like I'll have to spend $8600 to get the best price. Anyone want to go in with me?

 

[XS650]

The price of silver is largely determined by industrial demand and speculators.

http://www.financial-portal.com/metal_Silver.html

It looks like the peak is behind us and small investors are being set up to be fleeced.

Liberty Dollar selling the coins at a mark-up will make money, the marks buying them will be investing in silver which is not some inflation proof constant.

 

[uc50ic4more]

Originally Posted By: XS650
... silver which is not some inflation proof constant.


No, but at least the currency'd be bound to *something*. The "Silver Standard"?

As well, you'd be participating in a voluntary effort supported by it's users, and not controlled by what a lot of us even here on these forums feel is a suspect system; designed not to serve the proletariat I MEAN POPULACE, but to act as a tool of bourgeois oppre... WHEN THE H-E-double-L did I become Che Guevara?!

EDIT: Also, there's no creepy all-seeing eye on the currency itself.

 

[crinkles]

an investment is only something that creates income.

therefore gold and silver are not investments but stores of value. in the long run you won't make money, just hold purchasing power.

 

[peterdaniel]

Look at all the ads running for Cash for Gold.. That should tell you something.. Buy Gold. Its the one thing that speaks to all the different currency so when the money we are carrying now turns to worthless, you will still have something of value which should be even higher than it is now.

 

[Solo2driver]

"I spend it like cash, most stores take it"....what a riot. I am a silver man myself (because it is currently affordable vs Gold), but I would not go this direction. I'd rather collect pre-1964 circulated coins that have high silver contents, or purchase bar ounces, than some weird new "currency".

 

[dwendt44]

I've heard that there have been some arrests of people using the
Liberty Money.
Not an officially recognized currency.

 

[AcuraTech]

Forget about Liberty Dollars, if you want to invest in silver just buy generic .999 rounds. Best bang for the buck, can be had for a fraction over spot price. I buy those and American "Silver Eagle" rounds. Not saying Liberty Dollars are bad, just that they aren't the only show in town. Silver is silver.

 

[oilyriser]

Money that can't be stolen by remote control?

 

[Shannow]

When the masses start talking about it, then they are scared and lining up to be fleeced.

 

[Johnny]

Now, I'm not the sharpest tack in the room, but .999 ounces of silver, is .999 ounces of silver, no matter what it looks like. They can't put a dollar value on the coin as currency as they are not the U.S. Mint.

 

[msparks]

I understand all of what is said. But lets say a local business you could "trade" your silver round for $20 worth of goods or services. Then you get enough in circulation your local. The small folks are what is going to keep us going, and when the dollar tanks, this will still be of value.

I understand that it's the same as another other .999 silver round. That's what I mostly have right now. But my thinking is that it's a great way to get others interested in this.

 

[msparks]

Originally Posted By: Johnny
They can't put a dollar value on the coin as currency as they are not the U.S. Mint.


They know they are not the mint. They are not "legal" tender. So that means you can't take them to the scam of a bank or post office or other "government" institution.

You can "trade" goods and services. And have a "suggested retail price" on them allows folks to easily understand a worth. I think that's the idea anyhow.

as far as the word "dollar" well that's been around an used by many countries for their currency. There is no where it says United States on it.

 

[msparks]

Originally Posted By: AcuraTech
Forget about Liberty Dollars, if you want to invest in silver just buy generic .999 rounds. Best bang for the buck, can be had for a fraction over spot price. I buy those and American "Silver Eagle" rounds. Not saying Liberty Dollars are bad, just that they aren't the only show in town. Silver is silver.


Your buying silver eagles at a fraction over spot? Where? I've seen them over $20 even when spot was under $10.

As far as generic rounds. I'll have to call my dealer, but I bet the current prices are going to be 16-18 for generic silver, and that is "used stuff". (Plus tax too)

 

[Pablo]

Originally Posted By: Shannow
When the masses start talking about it, then they are scared and lining up to be fleeced.


Hasn't that been truth since about the beginning? I'm not running out to buy silver right now. (I'm not saying we aren't in the toilet with the man on the lever......)

 

[demarpaint]

Originally Posted By: Pablo
Originally Posted By: Shannow
When the masses start talking about it, then they are scared and lining up to be fleeced.


Hasn't that been truth since about the beginning? I'm not running out to buy silver right now. (I'm not saying we aren't in the toilet with the man on the lever......)


I agree, the lines are forming for the next pocket picking.

 

[msparks]

Originally Posted By: Shannow
When the masses start talking about it, then they are scared and lining up to be fleeced.


Haven't we been fleeced since 1912?

 

[Rick in PA]

I think the fact that it is stamped $20 is a flaw. Down the road, as inflation caries the price of silver higher, the Liberty Dollar will be something stamped $20 that's worth $30, $40, etc. It will be the same situation you find with pre-'64 silver US coins. This will eventually render the Liberety Dollay useless on the common market. I'd rather have a nice looking slug of silver marked 1 troy ounce.

 

[msparks]

Originally Posted By: Rick in PA
I think the fact that it is stamped $20 is a flaw. Down the road, as inflation caries the price of silver higher, the Liberty Dollar will be something stamped $20 that's worth $30, $40, etc. It will be the same situation you find with pre-'64 silver US coins. This will eventually render the Liberety Dollay useless on the common market. I'd rather have a nice looking slug of silver marked 1 troy ounce.


Well that has happened, the original LD was a MSRP of $10 because silver was below that. Then it went to MSRP $20, then last year it went to MSRP $50 for 8 months.

What didn't work was the MSRP because silver didn't stay above $20 very long. If in the future with inflation you will have to have 1 oz=$50 which then you could send back your MSRP 20's and exchange them of coarse there is a re-minting fee.

The problem I see with just silver rounds is that most Americans are either too stupid or too lazy to understand an "exchange rate" Unlike foreign countries where they will calculate it on a daily basis and different places will give you different rates. I think that system would take a while to be impletmented.

I'm sure there is nothing wrong with you going out with your silver round and trying to exchange it for more than you paid. But try to get them to see what the rate it, and what they are willing to give you for it. Sounds a lot harder than saying here is a LD. Has an MSRP of $20. They could say Yea or Nay and be done with it. Or they could say I will only give you $15 or $18 or whatever.

The LD program is just easier for the average person I think.