Steve Schear <schear@lvcm.com> wrote :

At 03:52 PM 8/29/2002 -0500, Gary Jeffers wrote:

...

The money is backed by silver and gold and can be redeemed widely in America.

True but only fractionally (i.e., the precious metal content is only a fraction of the face value).

steve

Hi Steve, Did you try to follow their site? I love the bit on the website about "make 40% blah blah blah" by buying these colorful bad boys in volume at $6 each. The indexing of these things to Ag is truly fucked ( http://63.126.1.222/AgOver10.asp ). Apparently a $10 Liberty Dollar is redeemable for 1oz of Ag which is today about $4.50. If silver goes over $10 then they'll reset things to a $20 base. Er..what? I guess I didn't study enough mathematics. How the fuck are you going to make 40%? Especially in light of the sorry fact that if you're dumb enough to buy these little buggers it's going to be tougher'n'hell to find someone even more dumb to sell them to at a profit. Note quite as cute as e-golb.com. Speaking of which I never found out if it was a private enterprise or a slinking leo. The fucking ISP up in Davis never returned my calls. Mike