Recently by Simon Black: The Biggest Bubble on the Planet
The United States Department of Justice delivered a very clear and unfortunate message on Friday:
“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism. 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.”
These remarks were released by the US Attorney’s office in the western district of North Carolina following the conviction of one Bernard von NotHaus, the creator of the ill-fated Liberty Dollar.
As you likely recall from a few years ago, Liberty Dollars were privately minted gold and silver rounds. Paper certificates, akin to warehouse receipts were also issued, effectively giving the bearer a right to claim a certain amount of gold or silver at the group’s warehouse in Coeur d’Alene, Idaho.
This is traditionally how the system of money used to function – precious metals would be stored in private, secure storage facilities, and paper certificates were issued as a medium of exchange that entitled the bearer to redeem metal from the vault. Liberty Dollars represented a return to that system.
Clearly, the Justice Department feels otherwise… instead viewing these silver rounds as an attempt by terrorists to undermine the US dollar.
Interesting choice of words. Undermine? “verb [transitive]. to erode the base or foundation of something. to damage or weaken, especially gradually. ”