The Liberty Dollar and Bernard von NotHaus

P. Carl Mullan
Additional contact information
P. Carl Mullan: Digital Currency Intelligence Authority Ltd.

Chapter Chapter 3 in A History of Digital Currency in the United States, 2016, pp 87-109 from Palgrave Macmillan

Abstract: Abstract The Liberty Dollar was a privately issued currency created by a nonprofit named the National Organization for the Repeal of the Federal Reserve and Internal Revenue Codes (NORFED). Bernard Von NotHaus formed NORFED in 1998. He created an alternative to US fiat currency backed by an amount of precious metal value. The Liberty Dollar was available in paper warehouse receipts, metal tokens, and online digital units. NORFED earned operating income through multilevel marketing of the currency. The company minted tokens with a face value higher than the manufactured cost. Multilevel marketing distributed sales profits to dealers at various cost levels. This chapter is an astonishing look at how private currency products, both digital and physical versions, function in consumer transactions. The government convicted Bernard Von NotHaus of several felonies including counterfeiting.

Keywords: USSS; FBI; Liberty Dollars; American Liberty Currency; eLibertyDollar; Bernard Von NotHaus; Sound money; Silver backed currency (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:paiecp:978-1-137-56870-0_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137568700

DOI: 10.1057/978-1-137-56870-0_3

Access Statistics for this chapter

More chapters in Palgrave Advances in Economics of Innovation and Technology from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().