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The Liberty Dollar® is an inflation-proof, private, non-government, value based, local referral currency, which has been in circulation for over eight years, and was designed to offer a free-market choice to the debt-based Federal Reserve Note, more commonly referred to as the U.S. Dollar. With over $20 million in circulation, The Liberty Dollar® is America’s second most popular currency, and yet receives top billing as the most popular commodity-based currency, functioning in strict accordance with United States Currency definitions, as well as the Uniform Commercial Code. Currently, Liberty currency exists in three forms:
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Of the three currency forms, the silver and gold obviously possess the beauty, weight, and direct intrinsic monetary value, but the warehouse receipt best exemplifies the means by which the Liberty Currency competes directly with the Federal Reserve Note, and is so remarkable that it will receive its own chapter within this book.
The Liberty Dollar® model promotes the construction of a grassroots network of local consumers and merchants who use the value-based currency in every day transactions such that the Liberty Currency functions in parallel with the commonly used U.S. currency (Federal Reserve Notes).
Because Liberty Currency is based on gold and silver, it retains it’s purchasing power in relation to the Federal Reserve Notes, which, due to their lack of intrinsic value, are far more susceptible to market fluctuations, and especially vulnerable to debt.
The Liberty Dollar® is a voluntary currency, which means that some businesses may prefer one currency over the other, but Liberty Currency will NEVER be universally accepted until enough customers spend it.
So if you happen to possess any Liberty Currency, go out and spend it into circulation!
The Liberty Dollar® is Constitutionally lawful money, and is therefore perfectly legal, but it is NOT legal tender, and adopters must be diligent not to represent it as such.
In accordance with the specifications for money delineated in the Monetary Laws of the United States, it is perfectly legal for any individual to produce their own money, so long as it is neither represented as legal tender, nor takes on the physical appearance of the Federal Reserve Notes, as that would be considered counterfeiting.
The legal tender laws were created as a means of legislating worthless, paper money into use. Because people in post Civil War America actually understood money to be only gold and silver, and expected their debts to be paid in precious metals, it became necessary for the U.S. Government to force the acceptance of fiat, paper money; quite literally at gunpoint in some cases.
Although most people cannot discern fiat money from Constitutional money, the difference is quite simple, and the contrast is infinitely vast:
Fiat money is a currency whose usefulness results, not from any intrinsic value or guarantee that it can be converted into gold or another currency, but only from a government’s order (fiat) that it must be accepted as a means of payment.
Lawful money, on the other hand, is that currency which, in accordance with the Coinage Act of 1792, is based upon gold, silver and copper, and only in very specific amounts and proportions.
The last lawful money produced in the United States was the 1981 penny, as it contained 95% copper, and prior to that, 1964 was the last year that the dollar included the proper ratio of 9 parts silver to 1 part copper alloy.
Because our generation has, for the most part, very rarely used lawful money, some initial resistance is expected on the part of both the merchant and the consumer.
People know intuitively that gold and silver are indeed money, but many need to be educated as to the actual specifications of lawful money before they will readily accept it as such, and therefore a surmountable learning curve will need to be addressed.
Ironically, and telling of the vast, incremental changes which have taken place within our nation, as well as the global economy, We the People have been led to believe that money is the polar opposite of that which has been defined in the rule of law.
Over the course of eight years, and the propagation of over $20 million spanning all three forms of America’s Inflation-Proof money, collective experience with the Liberty Dollar has proven that the best means of educating the populace regarding the true composition of REAL MONEY, is to circulate the Liberty Dollar® in day to day barter.
End of Chapter 1