With the US Dollar losing value, the trial of a counterfeit operation ends in conviction. How much of a counterfeit was it? If counterfeit money is worthless, then how are the Liberty Dollars in question worth 7 million? The precious metals used in the creation of this currency could be the answer.
Prosecutors argued the Liberty Dollars held too many similarities to the U.S. currency. The motto of the currency was, "Trust in God", carried the word "dollar", and featured a dollar sign. Counterfeit is meant to be an imitation close enough to the original, that one may be pass it off as the real thing. The founder of the Liberty Dollar insists that the dollars were never presented as government-minted currency.
The Sunshine Mint produced, and warehoused the coins. The Liberty Dollar was an alternative currency for local communities to trade and barter with. This currency consisted of gold, silver, and copper coins; gold, silver, and platinum certificates. The currency was backed in value by those four precious metals. He may have been seen as a threat to the fed since their notes are subject inflation, where the Liberty dollar will always be worth the material it's printed on.
More than one fifth of U.S. states have legislation in place, allowing them to produce their own currency and back it by precious metals. This bill was created as a protective measure against hyperinflation of the U.S. dollar. Federal laws restrict local currency from resembling or being passed off as U.S. currency. The Liberty Dollar does not hold the words "legal tender", but rather a close motto, "Trust in God".
Bernard von NotHaus, has been convicted, but not yet sentenced. He was shocked by the jury's decision, as were many others. The monopoly money is sought by the fed, as they have demanded the currency made of precious metals be forfeited. As the currency is said to be valued at approximately 7 million dollars, that is almost enough to cover the $9.5 million of federal stimulus dollars that were distributed to phantom zip codes throughout Virginia.
Prosecutors argued the Liberty Dollars held too many similarities to the U.S. currency. The motto of the currency was, "Trust in God", carried the word "dollar", and featured a dollar sign. Counterfeit is meant to be an imitation close enough to the original, that one may be pass it off as the real thing. The founder of the Liberty Dollar insists that the dollars were never presented as government-minted currency.
The Sunshine Mint produced, and warehoused the coins. The Liberty Dollar was an alternative currency for local communities to trade and barter with. This currency consisted of gold, silver, and copper coins; gold, silver, and platinum certificates. The currency was backed in value by those four precious metals. He may have been seen as a threat to the fed since their notes are subject inflation, where the Liberty dollar will always be worth the material it's printed on.
More than one fifth of U.S. states have legislation in place, allowing them to produce their own currency and back it by precious metals. This bill was created as a protective measure against hyperinflation of the U.S. dollar. Federal laws restrict local currency from resembling or being passed off as U.S. currency. The Liberty Dollar does not hold the words "legal tender", but rather a close motto, "Trust in God".
Bernard von NotHaus, has been convicted, but not yet sentenced. He was shocked by the jury's decision, as were many others. The monopoly money is sought by the fed, as they have demanded the currency made of precious metals be forfeited. As the currency is said to be valued at approximately 7 million dollars, that is almost enough to cover the $9.5 million of federal stimulus dollars that were distributed to phantom zip codes throughout Virginia.
