?

Log in

No account? Create an account

Bernard von NotHaus Convicted of Minting His Own Currency - Open Knowledge — LiveJournal

Mar. 19th, 2011

05:07 pm - Bernard von NotHaus Convicted of Minting His Own Currency

Previous Entry Share Next Entry

Undermine the legitimate currency of the this country?  I think the Feds are doing that quite well on their own.  What pisses them off is anyone trying to escape their predations.

"Bernard von NotHaus, 67, was convicted today by a federal jury of making, possessing, and selling his own coins, announced Anne M. Tompkins, U.S. Attorney for the Western District of North Carolina. Following an eight-day trial and less than two hours of deliberation, von NotHaus, the founder and monetary architect of a currency known as the Liberty Dollar, was found guilty by a jury in Statesville, North Carolina, of making coins resembling and similar to United States coins; of issuing, passing, selling, and possessing Liberty Dollar coins; of issuing and passing Liberty Dollar coins intended for use as current money; and of conspiracy against the United States. The guilty verdict concluded an investigation which began in 2005 and involved the minting of Liberty Dollar coins with a current value of approximately $7 million.
...
Von NotHaus designed the Liberty Dollar currency in 1998 and the Liberty coins were marked with the dollar sign ($); the words dollar, USA, Liberty, Trust in God (instead of In God We Trust); and other features associated with legitimate U.S. coinage. Since 1998, NORFED has been issuing, disseminating, and placing into circulation the Liberty Dollar in all its forms throughout the United States and Puerto Rico. NORFED’s purpose was to mix Liberty Dollars into the current money of the United States. NORFED intended for the Liberty Dollar to be used as current money in order to limit reliance on, and to compete with, United States currency.
....
Von NotHaus, who remains free on bond, faces a sentence of up to 15 years’ imprisonment on count two of the indictment and a fine of not more than $250,000. Von NotHaus faces a prison sentence of five years and fines of $250,000 on both counts one and three. In addition, the United States is seeking the forfeiture of approximately 16,000 pounds of Liberty Dollar coins and precious metals, currently valued at nearly $7 million. The forfeiture trial, which began today before United States District Court Judge Richard Voorhees, will resume on April 4, 2011 in the federal courthouse in Statesville. Judge Voorhees has not yet set a date for the sentencing of von NotHaus.

Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”

Posted via email from crasch's posterous

Comments:

[User Picture]
From:commander_zero
Date:March 20th, 2011 01:09 am (UTC)
(Link)
So does that mean the Norfed dollars I have in my possession are considered counterfeit money and mist be turned in?
(Reply) (Thread)
(Deleted comment)
[User Picture]
From:crasch
Date:March 21st, 2011 01:59 am (UTC)
(Link)
I don't know.
(Reply) (Parent) (Thread)
(Deleted comment)
[User Picture]
From:cramer
Date:March 21st, 2011 01:49 am (UTC)
(Link)
If I remember the commercials, they're silver plated. Plated on what? I don't know. All of these "commemorative" coins scream scam to me.
(Reply) (Parent) (Thread)
[User Picture]
From:crasch
Date:March 21st, 2011 01:57 am (UTC)
(Link)
"A one troy ounce Liberty Dollar had a silver value between $16 and $18 as of October 2009[update] and between $25 and $30 as of October 2010[update] . The Liberty Dollar was sold to merchants and "Liberty Associates" at a price that represented a discount to the MSRP face value, and a premium to the silver value. "

http://en.wikipedia.org/wiki/Liberty_Dollar
(Reply) (Parent) (Thread)
[User Picture]
From:crasch
Date:March 21st, 2011 01:57 am (UTC)
(Link)
"A one troy ounce Liberty Dollar had a silver value between $16 and $18 as of October 2009[update] and between $25 and $30 as of October 2010[update] . The Liberty Dollar was sold to merchants and "Liberty Associates" at a price that represented a discount to the MSRP face value, and a premium to the silver value. "

http://en.wikipedia.org/wiki/Liberty_Dollar
(Reply) (Parent) (Thread)
(Deleted comment)
[User Picture]
From:crasch
Date:March 21st, 2011 02:18 am (UTC)
(Link)
I saw his booth at the Free State Project. While I disagree with his business model, the notion that anyone buying these would confuse them for U.S. dollars is ludicrous, as the whole point of the Liberty dollars is that they are _not_ fiat U.S. dollars but made of actual silver and gold. Ask yourself: where are the victims?
(Reply) (Parent) (Thread)
(Deleted comment)
[User Picture]
From:crasch
Date:March 21st, 2011 03:07 am (UTC)
(Link)
Again: where are the victims? Where are the people who came forward to accuse Nordhaus of fraud?

And listen to what the Feds wrote:

"It is a violation of federal law for individuals, such as von NotHaus, or organizations, such as NORFED, to create private coin or currency systems to compete with the official coinage and currency of the United States."

They did not convict him of fraud. They convicted him of creating a competing currency.

And this:

"Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”

"Anti-government activies...domestic terrorism...challenge the legitimacy of our democratic form of government." Isn't it obvious that their concern is not with any fraud that he committed, but with the threat to their power that he represented?
(Reply) (Parent) (Thread)