I came across someone selling some American Liberty Currency notes and did a quick google search. I found the following link

http://www.libertydollar.org/

Does anyone know anything more about these?

they're "warehouse receipts" redeemable for silver ounce rounds stored in idaho by the private company, norfed. the southern poverty law center is investigating norfed, and it describes liberty dollars as being a fund-raising project for an "antigovernment group dedicated to tax evasion and protest".

norfed = national organization for the repeal of the federal reserve act and internal revenue code
more info: splc links



more notes: http://public.fotki.com/sanmiguel/liberty

The SPLC is a pro-government group dedicated to taxation and subjugation of the American people by a self-defined cultural elite.

Be that as it may, one problem with Norfed warehouse receipts is that they did not keep their word and when silver went above the tariff price of these "receipts" they revalued the entire scheme. That would be fine because you are trading silver for goods and services regardless of the nominal "dollar" value of the silver. However, backpeddling on their promise of convertibility hurt Norfed in my view.

I have participated in an alternative economy via e-gold. I sold written content about numismatics to a libertarian website. They transfered e-gold into my account. I then searched the list of vendors and bought something I wanted, a facsimile edition of Webster's first 1828 dictionary of American English from a patriotic religious group.

Also, as mentioned here and elsewhere, I have been involved in a "community currency" project. These are typically Green party type agenda projects.

So, I have no problem with the idea of Norfed. I just found their implementation disappointing, even though their notes are stunning as collectibles.

So long as the Federal Reserve system is a privately owned, multinational corporation wholey seperate and distinct from the Federal Government, things like the American Liberty Currency project and all the others will not only be doomed to failure, but doomed to spectacular failure. They may briefly tread water on a local level, but will always always always fail in a private bank environment.

Michael,

I see a distinct difference between the community dollars in your Michigan city, and these "Norfed" dollars. The community money projects benefit participants and if well organised and well regulated by the membership as a whole they are fully beneficial to all participants. Particularly the community as a whole by benefiting local merchants.

But I see these other private currency projects with a bit more concern, especially whence *revaluations* occur. I cannot say with definative evidence for this particular organisation at question here, but there was a movement in Texas several years ago that advocated the use of silver certificates it had printed the proceeds of which were used in it's effort to seek the independance of Texas from the United States. They were most definately an anti government, and an almost anarchial approach to a Texas government.

This will never fly.

I always liked the American Liberty Currency idea but I don't think it is something that will ever work.

The gas station down at the corner from my office has a sign on the counter that they take these notes, which I assume means that they will give me $10 in gas if I give them one. I just wish they'd give me the same in gas for a silver round!

Alternative currencies like this will be novelties unless and until the Fed creates a hyperinflationary environment like 1923 Germany. Then people will be more than happy to trade in hard currency. In fact, evidence suggests that even mild bouts of hyperinflation, or consistent long-term debasement of currency will prompt people to demand hard currency, similar to what is happening in Mexico today.

Mexico's always been interesting to follow. Especially since they were the last country to end continious issue of circulation-issue silver coins (1979 100 pesos I think), and also the first country to issue a regular-weight silver bullion coin (1949 1 onza)

There are distributors in my area for the Liberty Dollar but I have yet to find a business that will take them.
I for one would take part in this experiment if I could

That's putting it mildly in regard to the goals of Morris Dees and his fraudulent organization. Anything that arouses the ire of that bunch of hucksters, thieves and liars can't be all bad. Still the NORFED plan doesn't strike me as being sound. If one wants to deal in hard money, there's no reason not to keep and hold actual precious metal coins instead of notes issued by anyone as convertible instruments.

Until there's hyperinflation, holding precious metal coinage will be viewed as commodity ownership.

with silver at $7.14 an ounce, and their notes faced at $10.00 an ounce, you can see where their fund-raising aspect comes in. even worse is their $500 gold note, backed by a $437 ounce of gold, and being sold for $550 on their website.

for true commerce in metals, one might as well use http://e-gold.com. same concept, except that you purchase metals at actual market values (gold, silver, platinum, palladium). only downside is your account fluctuates in real time....so your $20.00 might be $18.75 one minute, and $23.80 the next.