Federal government seeking to make forms of bartering illegal after court ruling

Kenneth Schortgen Jr
Examiner

The Federal government is trying to establish bartering private currency of any type as an illegal enterprise in a false interpretation of the court's recent conviction of Liberty Dollar's owner Bernard Von NotHaus.

In a case where the government used conspiracy and counterfeit charges against NotHaus to establish that he intended to mint and illegally replace US currency with a private one using silver coins, the US Attorney is now parlaying the conviction to say that this ruling sets a precedent against any private barter transactions which use any form of currency besides established Federal Reserve Notes.

The Federal government also is seeking on April 4th to take receipt of the $7 Million dollars in silver 'Liberty Dollars' that were minted and sold by Von NotHaus.

The idea for using private currency for barter transactions is not new, and in fact is currently being done in a few cities around the country.  In Detroit for example, a group of businesses created their own barter currency known as 'Detroit Cheers', and several businesses agreed to the use of local currencies in leiu of federal reserve notes.

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Gold near record, silver tops $37 on safe-haven bid

Silver Eagle Wiki Commons image

Frank Tang
Reuters

Gold rose to within a whisker of its all-time high on Wednesday, as record low U.S. new home sales stirred talk of extended central banks' accommodative policies, and a possible collapse of Portugal's government rekindled euro zone debt worries.

Bullion rose 0.7 percent to $1,439.76 per ounce, just short of its record $1,444.40 set on March 7, rebounding over 4 percent in the last eight sessions amid safe-haven buying and ongoing Western air strikes on Libya.

"Gold rose on a culmination of further concerns about the European debt issue, coupled with the situation in Libya and very strong crude prices," said Brian Hicks, portfolio manager of U.S. Global Investors' Global Resources Fund (PSPFX.O) with about $1 billion assets under management.

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