Under a little-known loophole in current law, the U.S. Treasury could solve the annual budget crisis by minting two one-trillion-dollar platinum coins for deposit at the Federal Reserve.
The Washington Post points out that this option has been endorsed by several well-respected mainstream economists.
Whatever the merits of this dubious proposal, it’s worth noting that none of its proponents are being treated as if they were terrorists. The same can’t be said of Bernard von Not Haus, the 68-year-old creator of the Liberty Dollar who awaits sentencing on counterfeiting charges. His supposed crime was to create a private currency made out of gold and silver, and to build a voluntary network of exchange that competed with the government’s fiat currency.
In other words: Not Haus was convicted of counterfeiting by offering legitimate private money that challenged the Federal Reserve’s officially sanctioned counterfeit. The FBI confiscated – that is, stole – millions of dollars in precious metals from the Liberty Dollar company, much of it freely paid for by customers nation-wide.
The U.S. Attorney who prosecuted Not Haus called him a “domestic terrorist.” If that word retains any meaning it applies much better to the government that is persecuting Not Haus.
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