Seth Lipsky on Liberty Dollar founder: A monetary gadfly in an age of fiat money

Section:

By Seth Lipsky
The Wall Street Journal
Monday, December 1, 2014

Tuesday morning at 9:30, a federal judge in North Carolina will gavel his court into session to pronounce a sentence on Bernard von NotHaus. A monetary gadfly in an age of fiat money, Mr. von NotHaus, 70, could be looking at the rest of his life in prison.

Nearly four years ago, a jury convicted Mr. von NotHaus of “uttering”—putting into circulation—coins of pure silver that he called Liberty Dollars. The government is also seeking the forfeiture of 16,000 pounds of coins and precious metals whose value it reckons at $7 million. ...

... Mr. von NotHaus’s Liberty Dollar poses the opposite danger of Copernicus' famous monetary principle. That principle, also known as Gresham's law, holds that bad money drives out good. Mr. von NotHaus has instilled in the government the contrary fear -- that good money in the form of silver dollars will drive out the bad money issued by the Federal Reserve. ...

These matters were considered by Judge Voorhees, who has been presiding in the von NotHaus case. They were raised most pointedly in an amicus brief by the Gold Anti-Trust Action Committee, a charity that fights for a constitutional view of money. ...

... For the remainder of the commentary, in the clear:

http://online.wsj.com/articles/seth-lipsky-a-monetary-gadfly-in-an-age-o...



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