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…Von Nothaus recognized the grave economic threat that is an unrestrained government with the ability to monetize debt indiscriminately. His solution was to create a voluntary barter currency redeemable in silver, issued under the umbrella of a nonprofit entity called the National Organization for the Repeal of the Federal Reserve Act and Internal Revenue Code, or NORFED, where Von Nothaus has been mentioned in several articles as being its “Senior Economist.” [2] In 1998, NORFED introduced the Liberty Dollar, and marketed it as an alternative to Federal
Reserve Notes. The project began with the circulation of warehouse receipts representing a specified quantity of silver held in storage at a private mint. Merchants or consumers who held similar concerns about the longevity of the Federal Reserve Note’s purchasing power could circulate these Liberty Dollar receipts amongst themselves as a medium of exchange for goods and services. So long as it was voluntary, and both parties understood what they were doing, the system was untouchable
According to an article by John Christian Ryter, NORFED was investigated in 1999 by the Secret Service regarding their warehouse receipts but did not file charges, finding that the receipts did not constitute counterfeit currency because they did not contain the language “legal tender”, and that there was a sufficient amount of warehoused silver to represent the value indicated on the Liberty Dollar receipts. [3] It was not until the coins themselves began widely circulating that the U.S. Government decided to take legal action. In November of 2007, the U.S. Department of Justice conducted a raid, seizing the assets of NORFED held in a private office in Evansville, Indiana. [4] A concurrent raid was also conducted at the private mint in Idaho where the coins and warehouse receipts were manufactured and stored. [5] In the Justice Department’s own affidavit, it cites Von Nothaus’ statements to the effect that the Liberty Dollar was intended to be in direct competition with the Federal Reserve Note. [6] This seems to contradict and nullify the counterfeit claim. In spite of this, the Affidavit cited U.S.C. 18 § 492 as justification for claiming probable cause. This section of the U.S. code deals with forfeiture of counterfeit coins, material and apparatus. [7]…
Thus, if the United States’ allegations are vindicated, the law would prevent the return of a great part of the assets, e.g. copper, gold, silver coins, to “claimants” (18 U.S.C. § 983(d), civil case) or “petitioners” (21 U.S.C. § 853(n), criminal case) who might otherwise successfully prove themselves to be “owners” and even “innocent owners.”
Presenting the chart of AAPL: the stock, which has surged from $240 to $292 in less than a month, has done so without violating the 2 Std Dev upward channel once! In other words, nobody but programs which are designed to trade within the traditional technical upward channel of +/- 2 Std Devs are doing the trading in AAPL.
Originally posted by Hefficide
It's been done with stocks ( as I think will probably happen again pretty soon ) and I think these ridiculous gold prices are a manifestation of the same process.
Beg for the chance to buy at an inflated price and you just find yourself begging to sell at a much lower price one day in the future.
Just my intuitions and thoughts on the subject.