|
PeterMac Show Accepts the Liberty Dollar |
|
|
|
|
Written by Peter McCandless
|
|
Monday, 10 October 2005 |
 What is a Liberty Dollar?
A Liberty Dollar is a form of private currency. Unlike Federal Reserve Notes issued by the Federal Reserve, Liberty Dollars are backed by silver or gold. There are three silver denominations: $1, $5, and $10, and one gold denomination: $500. Liberty Dollar currency is available in silver and gold bullion or in warehouse receipts. The warehouse receipts are always 100% redeemable in silver and gold. This makes the currency inflation proof. While the Federal Reserve can and does print Federal Reserve Notes (the bills we're used to spending) there is nothing tangible backing these notes. As a result, their purchasing powers declines with each passing year. In contrast, a one-ounce Liberty Silver will always be one ounce of .999 fine silver. Liberty Dollars exchange with Federal Reserve Notes in a 1:1 ratio.
What is a Liberty Associate?
A Liberty Associate is anyone who has agreed to introduce Liberty Dollars into his or her community. The one-time joining fee is $250, for which the new Liberty Associate receives $100 in Liberty Dollars. The person who sponsored the new Liberty Associate receives $100 and $50 goes to cover administrative costs. Thus, a Liberty Associate can sponsor new Liberty Associates and he or she will receive $100 in Federal Reserve Notes for each such new Liberty Associate. Liberty Associates can also exchange Federal Reserve Notes for Liberty Dollars at a discount.
Where can I spend Liberty Dollars?
Liberty Dollars can be spent anywhere they are accepted. Merchants do not have to accept Liberty Dollars as payment for their good or services. However, as more merchants use Liberty Dollars, others will find it advantageous to do so as well. The Government cannot erode the purchasing power of Liberty Dollars. Liberty Dollars are "honest" money, in contrast to fiat money, which is printed by the government.
Why should I use Liberty Dollars?
By using Liberty Dollars, you will be helping to return the U.S. economy to a healthy foundation. The monetary system that the U.S. is currently using is called "debt-based". This system is inherently destructive of the purchasing power of its own money. It has allowed the national debt to soar while providing a disincentive for people to save. If the entire country were using Liberty Dollars, the Federal Government couldn't steal the purchasing power of its citizens' money, in effect, stealing their labor.
How can I become a Liberty Associate?
Click here for more information.
|
|
Last Updated ( Wednesday, 04 January 2006 )
|