Tuesday, April 5, 2011

Elites only want their kind of monetary stimulus


Bernard von NotHaus, 67, was convicted last month in federal court in Statesville on conspiracy and counterfeiting charges for making and selling the currency, which he promoted as inflation-proof competition for the U.S. dollar.

His Charlotte-based lawyer, Aaron Michel, is appealing that verdict. He wrote in a motion filed Thursday that von NotHaus did nothing wrong because he didn't try to pass the Liberty Dollars off as U.S. dollars. Yahoos News

A rather revealing tale. This was an attempt to sell silver in the form of coins. It tells me that the elites in Washington very strongly police the type of monetary stimulus they allow, only monetary stimulus that maintains their elite status. If the type of stimulus required is a redistribution of power away from DC, then the elites, especially the Keynesian variety, use police power to stop the stimulus.

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