Fri 23 Nov 2007
Liberty Dollar investors earn windfall profits… in fiat currency.
Posted by + mOdOk + under Currents , PolitikaInvestors in Liberty Dollars are poised to earn windfall profits in the fiat currency they were meant to replace, while Liberty Services, formerly known as NORFED, Inc., the producers of Liberty Dollars, have been shut down, perhaps for good. The Ron Paul gold Liberty Dollar reached $3,537 on eBay and Nolan Chart gives an account of one investor who is already cashing in. They summed up the situation nicely:
Those who invested in Liberty Dollars from NORFED are poised to reap huge rewards, particularly since it seems likely at this point that they are no longer going to be minted. That makes them collector’s items, and collectible gold, silver, and platinum tend to sell at many times the intrinsic value of a precious metal coin, with the final value tending to be based on how many or few of those coins are in circulation. By raiding NORFED, the Feds are trying to punish that company for conducting transactions which clearly have enriched their customers many times over as a result of that raid.
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November 23rd, 2007 at 10:18 am
As a consequence of the raid, Liberty Dollars are very scarce. On ebay the Ron Paul Libertys are going for $300-$500 each! Many people are scrambling to get Liberty Dollar Certificates so that they can join the class action lawsuit (as the silver backing the certificates were confiscated in the raid.) The store that sells collectable Libertys (going back to 1999) is having a liquidation sale- http://www.LibertyDollarUSA.com And with no more being minted until the end of any legal proceedings, it may be quite awhile before the prices of Libertys come back down. Even common Libertys are going on ebay for $40-$50!