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If that was the case, than the last thing this person would want to do is make his currency similar to a dollar. Because the US dollar is the weaker currency yo
by hristov 14y ago
If that was the case, than the last thing this person would want to do is make his currency similar to a dollar. Because the US dollar is the weaker currency you see. Why would he then call his currency the liberty dollar, use dollar signs on it, use designs similar to US coinage, etc. Why would he want to be so similar to the weak currency?
The truth is that the US dollar is the strong currency and his one the weak; and he basically made money by having his coins confused for US dollars.
By the way, there are alternative money (such as bitcoin) that are actually honest about being an alternative. The government has not gone after bitcoin yet.
- brc 14y agoI agree that this guys competing currency is odd. It seems to be more of a political statement to me, than a genuine currency. If he had called it something else and convinced people to use it, then I wouldn't see the problem. If he had just minted gold and silver coins with a stamped weight on them, then they would stand a chance of being actively traded. But then maybe he knew they would be hoarded. To be honest, I don't know the ambitions of an aging hippie with links to the 'bunker' movement. From what I have read on this case (and I haven't read much) the coins do actually contain precious metals as a backstop to their value. Not so the US currency - although I hear the nickel now has a higher metal content than the face value.