Liberty Dollar Raid
Last week, Federal Agents raided the Evansville, IN headquarters of the Liberty Dollar, confiscating all the coins, gold, silver, dies, computers, and records, and froze all the bank accounts.
The Liberty Dollar was founded almost 10 years ago as an inflation proof alternative to federal reserve notes — the unbacked paper money that we are mandated to use. All of the currency distributed by the Liberty Dollar company is 100% backed and redeemable in gold and silver, as their website clearly states. Not many vendors currently accept liberty dollars, since it is relatively unknown, but they have nearly $20 million dollars in circulation.
It seems peculiar to me that they had been operating for almost 10 years without a problem. It wasn’t until Ron Paul — whom they have a coin named after, due to his strong criticism of the Federal Reserve and their inflationary monetary policy, and his support for sound money like the Liberty Dollar — started making great progress in the election. I find the actions taken by the FBI to be very alarming.
The FBI has still declined to comment on the reason for the raid, referring questions to the US attorney’s office which also declined to comment. However, the affidavit for a search warrant has been leaked to the internet and can be found here.
Since the raid, $20 Ron Paul Liberty Dollar coins have been selling in excess of $200.
Despite Ron Paul having absolutely no connection to this company — and the Liberty Dollar doing nothing wrong other than threatening the coercive government monopoly on money — I fear this will be used to smear his campaign.