The Liberty Dollar

[Michael Motyka]

Steve Schear <schear at 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