Forbes: Von NotHaus Affair Shows Two Sides Of Coinage
Addison Wiggin, blogging at Forbes analyzes subtle aspects of the Sound Money movement:
You may recall that Bernard von NotHaus was convicted last month of violating a law that makes it illegal, in the words of the FBI press release, “to create private coin or currency systems to compete with official coinage and currency of the United States.” But as Lipsky points out, that’s not entirely true.
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In another wrinkle to an incredibly tangled case, the judge threw out the part of the indictment that claimed “it is a violation of law for private coin systems to compete with the official coinage of the United States.”
You can’t make this stuff up. “It is not clear that there is a constitutional basis or a logic,” Lipsky concluded in his piece, “for prohibiting individuals from making and selling pieces of gold and silver and using them, on a voluntary basis, as money – i.e., to ‘compete with’ the official coinage of the US.”