Why outlaw private gold and silver coins?
April 12, 2011 by goldguru · Leave a Comment
GATA
10:44a ET Tuesday, April 12, 2011
Dear Friend of GATA and Gold (and Silver):
A lawyer from California, Bill Rounds, argues that the prosecution in the Liberty Dollar case in federal court in North Carolina misrepresented the law on private currency systems. It’s an interesting constitutional question, perhaps more interesting to those working against manipulation of the precious metals markets because it calls attention to a federal law at issue in the Liberty Dollar case, Title 18, Section 486, of the United States Code, which prohibits the issuance of gold and silver coins “intended for use as current money”:
http://www.law.cornell.edu/uscode/18/usc_sec_18_00000486—-000-.html
Those who argue that the U.S. government has no interest in manipulating the gold market may have a hard time explaining the necessity of this statute, since there is no similar prohibition in federal law against private issuance of paper money. Why is the government so afraid of gold and silver currency in private hands? And what surreptitious government action might flow from such fear?
Rounds’ commentary is headlined “Liberty Dollar II — Did Prosecutor Anne Tompkins Violate Ethics Rules?” and you can find it at How to Vanish here:
http://www.howtovanish.com/2011/04/liberty-dollar-ii-prosecutor-anne-tom…
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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