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July 24, 2008 7:17:41 AM CDT

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Feds Seize Ron Paul 'Dollars'

Posted Nov 17, 07 7:35 AM CST in Business,  Politics 

(Newser) – Federal agents raided the Indiana headquarters of a so-called "sound money" group this week, seizing nearly 60,000 "Ron Paul Dollars"—copper coins bearing the likeness of the renegade Texan congressman, GOP candidate for president and sound-money advocate. The organization has more than $20 million in illegal private currency, dubbed Liberty Dollars, in circulation; they're said to be backed by silver and gold stored in Idaho, the Washington Post reports.

The head of the operation said the raid came because "the federal government really is afraid" of the plummeting US dollar and the gathering strength of Ron Paul's presidential campaign. The Paul campaign denied any affiliation with the Liberty Dollar, though Paul shares the outlaw mint's goal of abolishing the Federal Reserve.

Sources Washington Post, Associated Press

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The Ron Paul copper coin.   (libertydollar.org)
Republican presidential hopeful, Rep. Ron Paul, R-Texas, speaks during the Iowa Republican Party's annual Ronald Reagan Dinner in this Oct. 27, 2007, file photo in Des Moines, Iowa. Those who dismissed...   (Associated Press)
Republican presidential hopeful, Rep. Ron Paul, R-Texas, signs an autograph for Scott Gilbert, of Des Moines, Iowa, during the Iowa Straw Poll, in Ames, Iowa in this Aug. 11, 2007 file photo. Those who...   (Associated Press)
In this photo provided by CBS, Republican presidential hopeful Rep. Ron Paul, R-Texas, appears on CBS's "Face the Nation" in Washington, Sunday, Nov. 11, 2007. (AP Photo/CBS Face the Nation, Karin Cooper)   (Associated Press)
Republican presidential hopeful, Rep. Ron Paul, R-Texas, speaks to students at Nashua High School South in Nashua, N.H., in this Nov. 7, 2007 file photo. Those who dismissed Rep. Ron Paul as a joke in...   (Associated Press)
The reverse of the Ron Paul copper coin.   (libertydollar.org)
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Federal Reserve  • US dollar  • Ron Paul  • currency  • US Mint  • libertarians


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