Michael Motyka wrote:

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.

The value of the Liberty Dollars is determined by both their denominations and by their "bases". For instance, a $10 LIberty bill with a "$10 base" also printed on it could be redeemed for 1 oz. of silver. A $10 Liberty bill with with a "$20 base" printed on it could be redeemed for 1/2 oz. of silver. A $20 Liberty bill with a "$20 base" printed on it could be redeemed for 1 oz. of silver. Now, if you bought a $10 Liberty bill with "base 10" on it and NORFED then started using a $20 base - no problem - your $10 Liberty bill could still be redeemed for the 1 oz. of silver that you were entitled to at the time you bought the bill. You are not left "holding the bag". Michael Motyka wrote:

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.

As explained in the NORFED text below, if you are a redemption center, then you can get a price break by buying in volume. This increases your profit. As far as your customers who buy Liberty Dollars from you - officially you charge a set premium on these dollars to customers, but I bet you don't have to. I think that you would be allowed to give a price break to customers. This would cut your profits but that might not bother you too much and maybe you are an ideologue. This would also allow the Liberty Dollar "end buyers" to take a minimum loss. If done well, all the Liberty Dollar buyers would take, at most, a small hit on the store of value function. Also, there are other values of honest, non-fiat money. For instance, the Liberty Dollar is inflation RESISTANT. That would protect us in inflationary times. We are so used to inflation that we think it goes on indefintely. However, it looks to me like we are headed for a deflationary depression. I think that in that case the Liberty Dollar would almost certainly lose value against the $US, but I think it would give good general protection against deflation too. The TRANSACTION function: I think this is where much of its potential lies and this needs a lot of experimenting. GENERATION: The Liberty Dollar is partially backed by silver and, therefore, is NOT DEBT CREATED! This is a very major value! Debt generated money dooms us! Michael Motyka wrote:

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

Here are the financial incentives for becoming a redemption center: ------------------------------------------------- START text from NORFED -------------------------------------------------------------------- What is a Redemption Center? A Redemption Center (RC) is any individual, business or organization that has signed a contract with NORFED to use and distribute The Liberty Dollar. There are no dues, no meetings, no obligations, and no time requirements. You are required to physically redeem the currency for gold and silver, since that is handled by NORFED. It only takes $250 to become an RC. Out of the $250, your new RC gets back $100 in Liberty Dollars, your sponsor gets $100 for sponsoring your new RC, and NORFED retains $50 for administration fees. Your new RC is now upside-down for $150, but since you get $100 for every RC you sponsor, just sponsor two friends and now you are up $50. You have actually profited by doing what is good for the country! Sponsor more people, make more money. You can sponsor anyone, anywhere, anytime - many RCs sponsor on the Internet. There are no geographic limitations or boundaries. There are even international RCs. (NORFED is not a multilevel marketing program; the RC program is a single-tier sponsorship program.) In addition to your initial referral fee, you receive an additional 5% residual referral fee on all future currency that your sponsorees exchange. Want to make up to 40% on your money? What do Redemption Centers do? RCs make money by exchanging fiat government money for gold and silver money, placing The Liberty Dollar into circulation. RCs educate, evangelize, and support The Liberty Dollar by using the new currency in everyday transactions. RCs get the round, coin-like, one ounce Gold and Silver Libertys at greatly discounted prices. For instance, as an RC you can get 100 Silver Libertys (face value $10.00) for only $7.50 each. Every time you use or exchange a Silver Liberty at its face value of $10.00, you reclaim that discount of $2.50 and make 25% on your money. And if you purchase in greater quantities, you can get Libertys for even less than $7.50 each - sometimes as low as $6.00 a piece, depending on silver's market price! -------------------------------------------------- END text from NORFED --------------------------------------------------------------------- --------------------------- Yours truly, Gary Jeffers BEAT STATE!!!! oh, also all the other oppressors too.