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Liberty Dollar Bust

When the news started circulating through the blogosphere yesterday, a lot of people assumed it was a hoax, because the story was so absurd. But no, the FBI and the Secret Service really did raid the headquarters of the Liberty Dollar. To be honest, I’ve never been as big a Liberty Dollar fan as some other Libertarians — it always struck me as a multi-level marketing scheme — but there’s nothing illegal about that. It will be interesting to see if the feds really have anything on Bernard NotHaus and company, or if it’s just a typical heavy-handed bullying tactic.

The NY Sun coverage of the raid included a sidebar with a range of reaction from local Libertarians. As David Friedman once said, “Somewhere in the world there may be two libertarians who agree on everything, but I am not one of them.”

  1. somebody
    November 17, 2007 at 2:23 am

    D. Friedman makes a good point. Libertarians should stop calling themselves libertarians and just start to argue over policy. Glenn Reynold libertarians and Lew Rockwell libertarians have some things in common, but also many things not in common. Same with conservative and liberal. Just make an argument for your position. That’s all that’s required.

  2. August 12, 2010 at 6:01 pm

    I just heard about the bust at Liberty Dollar at the tail end of a news story saying there are 150 competing currencies in the US and are supposed to be protected under the law.

    It is my hope that Liberty Dollar was not busted to simply clamp down on freedom and eliminate the competition against the falling US dollar.

  3. August 12, 2010 at 8:44 pm

    Glen, I did a search on google trends to see how much interest there was in the liberty dollar and the line was basically flat.

    I don’t see much on it on google search either.


  4. August 12, 2010 at 9:52 pm

    Thanks John,

    I’m personally supportive of alternative currencies because it appears that our financial brokerages and politicians are doing everything they can to destroy the dollar. Trading in silver could give the little guy a little protection.

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