ron paul coinvia WaPo:

Federal agents on Wednesday raided the Evansville, Indiana headquarters of the National Organization for the Repeal of the Federal Reserve and Internal Revenue Codes (NORFED), an organization of “sound money” advocates that for the past decade has been selling what it calls Liberty Dollars, a private currency it says is backed by silver and gold stored in Idaho, with a total of more than $20 million in circulation, according to the group.

NORFED officials said yesterday that the raid occurred just as they were preparing to mail out the first batch of about 60,000 “Ron Paul Dollars,” copper coins sold for $1 and decorated with the craggy visage of Paul, the libertarian Texas congressman, Iraq war opponent and sound-money advocate who has sparked a surprisingly vigorous insurgent campaign for the GOP nomination. The group says that it in recent months it already shipped out about 10,000 in silver Ron Paul dollars that sold for $20.

I’d say this will really only solidify some support for the Congressman in his bid to wreak havoc on the GOP nomination. I’d love it if some who are more knowledgeable on issues with the Federal Reserve could comment here on this. I’m sure we’ll be hearing more…especially from Ronbots.

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  • Eric, I’ve heard about these liberty dollars but not sure if they we’re being actually used as currency. I do know that other currencies are used in this country. So I really don’t understand what the bust was about – maybe it had something to do with the politics behind this group.

  • I know what I’m getting everyone for Christmas this year!

    Ron Paul Liberty Dollars (that cost $20 each)

  • bruce

    You wont be getting the Ron Paul coins to $20.00, they are selling on eBay for over $200.00

  • Crap!

    See what happens when you try to return to the gold standard?

  • bruce

    Yes, that is what happens. The Federal Reserve is not Federal and carries no reserves. It is a private corporation with the shareholders (very few) secret. It has the ability to raise up or destroy anyone it so chooses. It has never been audited. The IRS is the collection arm for the Federal Reserve.

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