Quotes from The Liberty Dollar - Solution to the Federal Reserve

I mentioned a few days ago the 5th anniversary of the American Liberty Dollar by NORFED. I bought a copy of The Liberty Dollar: Solution to the Federal Reserve, edited by Bernard von NotHaus (whom I had sign it). I've been slowly picking my way through the book since then and have a few quotes to share.

This book is about the Liberty Dollar, as a concept and as a specific. The book is full of ideas on Liberty, and it is full of the nuts and bolts of the Liberty Dollar. The Liberty Dollar is not the only private money being offered to the public at this time. There are others. The advantages of the Liberty Dollar are spelled out in this book, among them being independently audited, redeemable in silver, and an already large network of users. But if the Liberty Dollar were to fail because some other form of currency serves the public better, so be it. The justification of liberty is not to be measured in money or success or any other outcome, although we know that outcomes are much better with liberty. The justification of liberty is in living as a free person, respecting, and enjoying the respect of other free persons. It is the very process of choosing.

I choose, therefore I am free.
-Dr. Clifford F. Thies, Introduction, page 16

The history of money has been the history of the common man's quest to be free.
-Chaper 2 "Nature of Money," page 33

Anything that develops spontaneously in markets must be humanely useful because spontaneity implies mutual benefits to both buyers and sellers.

-Dr. Richard H. Timberlake, Chapter 3 "Constitutional Currency," page 45

We must be careful not to make the mistake of thinking that we can or must conjure up all the details of an ironclad private monetary system at this moment. We can no more foresee all of the innovations that creative capitalism might employ to expedite the transactions of goods and services than we can imagine what those goods and services might be. All we need to know is that freedom is there, that individuals are free to choose - can accept or reject without question whatever markets have to offer. By this means, we would have money of the best quality.

-Dr. Richard H. Timberlake, Chapter 3 "Constitutional Currency," pages 49-50

Money made Greece great, and in so doing, Greece expressed its greatness in the arts and architecture.
-Chapter 4 "The Marketplace," page 52

The government of the United States has never violated anyone's constitutional rights. Did you know that? The government of the United States will never violate anyone [sic] constitutional rights, because it cannot violate anyone's constitutional rights. The reason for that is: the government of the United States is that set of actions by public officials that are consistent with the Constitution. Outside of it's constitutional powers, the government of the United States has no legitimacy. It has no authority; and, it really even has no existence. It is what lawyers call a "legal fiction." I give you the famous case, Norton v. Shelby County, when they were thinking straight about these issues: 1886. The Court said: "An unconstitutional act is not a law; it confers no rights; it imposes no duties. It is, in legal contemplation, as inoperative as though it may never have been passed." And that applies to any governmental action outside of the Constitution.

-Dr. Edwin Vieria, Jr., Esq., Chapter 6 "Trashing the Constitution," page 66

Let me give you an example, the key example in the monetary field. Basic question: "What is a dollar?" Interesting question: "What is a dollar?" That's the unit of our currency. What is it? Well, if you ask most people, some of them would pull one out [sic] of these things, a little Sacagawea coin. "This is a dollar." Or more likely they would pull out one of these, a George Washington Federal Reserve Note, and say, "This is a dollar." And if yuo asked that person, "Well, why is that a dollar?" he or she would probably say, "Well, it's because Congress says so," or "the Treasury says so," or "the Federal Reserve says so," or "the Supreme Court says so" - begging the question of whether Congress, the Treasury, the Federal Reserve, or the Supreme Court has the authority to do so. Is this simply a matter of raw power?

Let's have a reality check. I have some learning aids here. Here's a card that says, "One cow." Is this a cow? Next step: here's a card that says, "By order of Congress: one cow." Is this a cow? You're getting the picture, aren't you? Here we go, the next step: "By order of the Federal Livestock Board: one cow." And then the final absurdity: "By order of the Federal Livestock Board: one cow. This is legal tender for all debts public and private." You don't have to be a farmer to understand the meaning of this little demonstration...[T]his is kindergarden material.

-Dr. Edwin Vieria, Jr., Esq., Chapter 6 "Trashing the Constitution," page 68

One after another, the delegates [that gathered in Philadelphia in 1787 to rewrite the Articles of Confederation] demanded that the phrase "and emit bills of credit" [contained within one of the Articles] be deleted, and denounced un-backed "paper currency." Colonel George Mason of Virginia, for whom the university is named, told the delegates he had a "mortal hatred" for un-backed "paper money" because is was "founded upon fraud and knavery." Oliver Ellsworth of Connecticut, later the third Chieft Justice of the Supreme Court, said that un-backed "paper money" had "excited the disgust of all the respectable parts of America." George Read of Delaware said that language alowing the new government to print un-backed "paper money" would be as alarming as "the mark of the beast in Revelation." And John Langdon of New Hampshire said that if the new government were granted the power to print un-backed "paper money," he would "rather reject the whole plan."

The motion to strike out the offensive "bills of credit" language was carried. Thank God! The states were also forbidden to print "paper money" by Article I, Section 10. So, the Constitution forbids any level of government in this country to issue "paper money" and to force people to take them. Only the people, holding hte sovereign powers, could legally issue "paper money" and, of course, they have no power to force anyone to take it. This legislative principle was so set in concrete that the US government issued no "paper money" for over 80 years.

-Chapter 7 "Inflation in America and Its Evil Twin - Deflation," pages 80-81

So far, the first chapters have been somewhat wobbly in their focus and have occasionally missed chances to conclusively nail a point down. But otherwise, it's been considerably enlightening (especially the historical anecdotes). I can't wait to get deeper into it.

Posted by Drizzten at October 11, 2003 01:25 PM