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Offlinemntlfngrs
The Art of Casterbation
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Registered: 07/18/02
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American Liberty Dollar
    #2141653 - 11/28/03 06:42 AM (13 years, 17 days ago)

Have you guys heard of it or better yet come across any? And what are you thoughts on it?
http://www.norfed.org

Alternative currencies are not illegal or unheard of.Some say it is a mlm scam and others say it will save the US financial system. Do we need a hard currency or and fiat money work? History seems to prove that fiat money eventualy collapses but there has never been a more stable contry in history.

I don't know, what do you think?


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InvisibleAnnapurna1
liberal pussy
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Registered: 05/21/02
Posts: 5,646
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Re: American Liberty Dollar [Re: mntlfngrs]
    #2141882 - 11/28/03 11:54 AM (13 years, 16 days ago)

Unlike "real" money, fiat money is backed directly by the total value of existing goods and services in a given sovereignty. Hard currency, OTOH, must have a fixed value independant of any production. So in order for the state to maintain the value of fiat currency, it must increase production of all goods and services while at the same time slowing the rate of consumption of existing G&S. In cases where it is impossible or impractical to prevent such consumtion, production must be increased to compensate for the depreciation.

As an oversimplified example, if $1 million is spent on a cruise missile, then that cash only has value while the cruise missile is sitting in the bunker. Once its exploded, there is $1M cash with nothing to back it up. The population must then work that many more hours to compensate for the depreciation or else swallow $1M worth of inflation. The latter option is less palatable for the following reasons: a) sheer chauvanism; and b) the combined inflationary effect of many such depreciation costs would in fact severely diminish our standard of living.

And the example above with the cruise missile is exactly the same with drugs too. While not nearly so much as military hardware, drug use remains a significant depreciator. In the case of food and to a lesser extent fuel, the depreciation may be at least partially recovered as production. So thats the real reason for the "War on Drugs". This of course also explains why the population is being looted: the less money ppl have; the less they will spend on consumables which impose depreciational costs.

The bottom line: fiat currency requires fascist economics to maintain its value. When Nixon killed the gold standard, he did so with the sole purpose and intent of pushing America to the far right. I dont have to back that claim up with anything; theres a reason they called him "dick". The "cashless economy" that everyone fears has actually been a reality ever since.

If we wish to one day restore civil society to America, then we must first return to the gold standard. Unfortunately, that is not a sufficient condition for democracy to exist; but it is a necessary one.


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Offlinemntlfngrs
The Art of Casterbation
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Re: American Liberty Dollar [Re: Annapurna1]
    #2141893 - 11/28/03 12:05 PM (13 years, 16 days ago)

So your using libery dollars?


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InvisibleAnnapurna1
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Re: American Liberty Dollar [Re: mntlfngrs]
    #2141929 - 11/28/03 12:28 PM (13 years, 16 days ago)

Not at the moment, but its not a bad idea...


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Invisibleshroomophile
ShroomitusFidelis
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Registered: 08/20/02
Posts: 762
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Re: American Liberty Dollar [Re: mntlfngrs]
    #2142771 - 11/28/03 07:31 PM (13 years, 16 days ago)

I like the idea of putting the money supply in the hands of the people instead of the Gov't lackeys.If this goes over they (uncle sam)will have a shit hemorrhage.I think it will be outlawed if many people try to use it.Just like pot and shrooms.


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Once the mighty oak,was a nut who held his ground.


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Offlinemntlfngrs
The Art of Casterbation
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Re: American Liberty Dollar [Re: shroomophile]
    #2143080 - 11/28/03 10:14 PM (13 years, 16 days ago)

I think there is already enough precedent and with statements from the secretary of the treasury saying that there is nothing wrong with it would make it tough to illegalize it now. The Feds said "so be it". If anyone it would be the Federal Reserve that would take action and I'm not convinced their actions would be legal or ethical.

Two things that come to my mind are that if a company like visa got on board thus giving the currency more credibility and maybe most importantly making it simple to use both as a consumer and a business. The other thing is how easily could this currency be counterfeited and what laws would apply since it is not legal tender as defined by the US treasury?



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