United States Mint Announces 2012 Presidential $1 Coin Designs

WASHINGTON - The United States Mint today announced the designs that will appear on the Presidential $1 Coins in 2012.  The obverse (heads sides) of the coins will bear striking portraits of former Presidents Chester Arthur, Grover Cleveland (first term), Benjamin Harrison and Grover Cleveland (second term). 

 

Inscriptions on the obverse of each coin include the President's name, the years of his term in office, a number indicating the order in which he served, and the inscription IN GOD WE TRUST.  The portraits of Chester Arthur and Grover Cleveland were designed and sculpted by United States Mint Sculptor-Engraver Don Everhart.  The portrait of Benjamin Harrison was designed and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill.

 

All coins in the Presidential $1 Coin Program bear a common reverse (tails side) featuring the iconic Statue of Liberty, designed and sculpted by Everhart.  Inscriptions on the reverse are $1 and UNITED STATES OF AMERICA.  The year of minting, or issuance, E PLURIBUS UNUM and the mint mark are incused on the edge of the coins.

 

The Presidential $1 Coin Program is authorized by Public Law 109-145.  Although production of circulating Presidential $1 Coins was recently suspended, collectible versions of the coin will continue to be available in select United States Mint offerings.  For information on the availability and pricing of products featuring Presidential $1 Coins, visit http://www.usmint.gov/catalog or call 1-800-USA-MINT (872-6468).

 

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.  The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Rethinking the Gold Bubble

By James E. Miller

 

There has been a lot of speculation recently on whether or not gold is in a bubble.  With Federal Reserve chairman Ben Bernanke announcing "Operation Twist" last month, gold and other commodity prices have fluctuated erratically.  Immediately following the "Twist" announcement, prices of both plummeted.  Gold then stabilized a few days later.  To make sense of these phenomena, one must utilize Ludwig von Mises's lesson that history must be interpreted with logic and rational deduction rather than empirical evidence alone.

 

As the Austrian business-cycle theory teaches, artificially cheap credit, not backed by real savings, creates intertemporal discoordination in production involving scarce resources that ultimately results in malivestment.  As Roger Garrison explains,

 

“An artificial boom is an instance in which… (Read more)

 

Source: Mises.org

Sound Money: Fight For It!

By George F. Smith

As a thought experiment, suppose you knew you were going to die three months from now. Further, suppose some multibillionaire hears of your impending death and decides to make you an offer: He will produce a 30-second TV commercial of your final message to the world and air it during the 2012 Super Bowl and the Summer Olympics in London. It will also be aired at appropriate times during the presidential debates next year. In addition, he will run a highly creative ad campaign encouraging people to watch your parting message.

So, here's the deal: You've got thirty seconds. You'll have a big audience. What would you say?

I knew immediately what my message would be, though not exactly how I would say it. I thought about what my message implied about my life and the world, and came away satisfied with my decision.

Then I considered what others might say. I could easily imagine any number of people issuing a message of love. Stop hating and love. Make love, not war. They might even recite the popular Biblical passage, 1 Corinthians 13: "If I speak in the tongues of men or of angels, but do not have love, I am only a resounding gong or a clanging cymbal."

I recalled Mel Gibson's final message as Sir William Wallace in the… (Read the full article)

Source: Mises.org

Rutherford B. Hayes $1 Coin Cover Available October 4

WASHINGTON - The United States Mint will begin accepting orders for the Rutherford B. Hayes $1 Coin Cover on October 4, 2011, at noon Eastern Time (ET).  The limited-edition coin cover, priced at $19.95, includes two circulating quality 2011 Rutherford B. Hayes Presidential $1 Coins from the first day of mintage at the United States Mint facilities at both Denver and Philadelphia - June 1, 2011.  The coins are mounted on a handsome display card with a 44-cent postage stamp.  The postmark of "August 18, 2011" marks the day the Rutherford B. Hayes Presidential $1 Coins were first released to the public.

Orders will be accepted at http://www.usmint.gov/catalog or at 1-800-USA-MINT (872-6468).  Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT (6468).  A shipping and handling fee of $4.95 will be added to all domestic orders.

United States Mint American Presidency $1 Coin Covers are also available through the United States Mint Online Subscription Program.  To learn more about this convenient ordering method, visit http://www.usmint.gov/catalog.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.  The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Note:  To ensure that all members of the public have fair and equal access to United States Mint products, orders placed prior to the official on-sale date and time of October 4, 2011, noon ET shall not be deemed accepted by the United States Mint and will not be honored.  For more information, please review the United States Mint's Frequently Asked Questions, Answer ID #175.

Why Are Gold Prices So High?

By Robert P. Murphy

Ever since Ben Bernanke began flooding the banking system with trillions of new dollars in the fall of 2008, economists and other pundits have disagreed on whether the US is in store for a grinding deflation or an accelerating inflation. Part of the disagreement stems from some people using the terms to refer to prices, whereas others refer to changes in the total quantity of money and credit.

However, even if we restrict ourselves to movements in the prices that average households face in the marketplace, there is still widespread disagreement. Although the overlap isn't perfect, typically the Keynesians warn that with high unemployment, the US runs the risk of a Japanese "lost decade" of flat consumer prices and stagnant economic growth. Many Austrians, in contrast, warn of a different decade: namely the United States during the 1970s, when Americans suffered high unemployment and price inflation.

To bolster their position, the Keynesians confidently point at the low yields on various government bonds, signaling that "the market" expects modest price increases over the coming years. In contrast, soaring gold and silver prices have been the trump cards for those Austrians predicting skyrocketing prices in general.

For a while the Keynesians had no adequate response to this. They suggested that… (Read the full article)

Source: Mises.org

“Buy American Only?” A Letter From a Concerned Citizen, part 2

By Zach Foster
Responding to a letter from a concerned citizen
Continued from Part 1

Bailouts

This gets me to the subject of bailouts.  The big bailouts that took place in 2008 and 2009 completely outraged the majority of the American people.  These bailouts were also a crime against the free market and against capitalism.  The whole concept of pure, untainted free market capitalism is that a business has to work hard to compete with other businesses and provide its goods and services at the best quality and lowest price.  This is one reason why McDonalds and Taco Bell, who have very low-priced value menus with a wide variety of choices, have done a lot better than other higher-priced fast food chains who have had to close down many locations.  This is also why Borders, who didn’t cater to the consumer demand for e-reader books (Kindle, Nook, iPad, etc.), is going out of business, whereas Barnes and Noble, who did cater to that demand, is still in business, and why Honda and Toyota’s low-priced, superior quality cars are outselling Ford while General Motors had to be bailed out.

Businesses that fail need to be allowed to fail once and for all, which weeds out the bad elements of industry and allows room for new contenders (small and medium-sized businesses or new entrepreneurs) to try their luck at meeting the un-met consumer demands.  When big businesses fail and lay off their workers, these new contenders will be the ones to hire the laid off working people, and if the new blood meets consumer demand, then they will succeed.

Thomas Woods, the author of The Politically Incorrect Guide to American History, wrote a fantastic book called Meltdown, which analyzes the Great Depression, the current recession, and vindicates free market capitalism from the lies of the statists and interventionists.  The truth is that when the federal government bailed out all those failed banks in 08-09, as well as parts of the auto and housing industry, they gave these failed businesses a “second chance” which will only postpone another inevitable collapse.  This is like an angry and heartbroken wife, whose husband was cheating on her, giving that husband a “second chance” in which he doesn’t have to shape up but instead can keep cheating on her until he gets caught again.

The Fed

These bailouts, which only punished the American people and the big and small businesses who were doing the right thing, and rewarded the failure of the businesses who were doing the wrong thing.  These bailouts were financed by the Federal Reserve System, which is a quasi-government organization that is basically in charge of big banks (Wells Fargo, Chase, Citibank, etc.) and financial organizations (AIG, Fannie Mae and Freddie Mac, etc.).  Banks are businesses, not storage lockers for money, and rather than letting these businesses try to figure out how to meet the demands of their clients, the Federal Reserve tells them how much to hold in the vaults, how much to lend, and how much to invest.  The Federal Reserve also has the power to print as much money as it wants, which is obviously bad because the more money that is being printed means inflation goes up.

Before the Federal Reserve, there was a U.S. Central bank which was on a gold standard.  The gold standard means that every paper dollar printed needs to have an actual gold dollar that exists somewhere in a bank.  Gold is real money and paper is just an I.O.U.  This was alright though, because with real gold backing up the I.O.U., people had faith in the paper, and they used it for everyday buying and selling.  Even if the central bank used a fractional gold reserve (for every gold dollar there is, they print two or three or four), there was at least SOMETHING partially backing up the paper money.  Nowadays more and more paper money is printed with nothing to back it up other than the “good credit of the United States.”

When the Federal Reserve was created in 1913 by J.P. Morgan, John Rockefeller, and a few government employees and politicians that were in their pockets, it was created with the intent to expand the money supply (inflation) and bail out particular businesses and industries which Morgan and Rockefeller were conveniently invested in.  The Fed essentially became the new central bank and began to coerce banks into doing whatever it ordered.  It also began printing more and more money to pay for expensive and Unconstitutional government grants, loans, bailouts, and other programs.  It is because of the evils of the Fed that inflation is so high (prices are so high) and the dollar is almost worthless.  The gold standard has been abandoned and the Fed will continue to manipulate banks and financial institutions and kill our dollar.  The only way to reverse this is to reinstate the Gold Standard and abolish the Federal Reserve.

To sum up the above points I made: 1) Government interventions, including those in the form of tariffs, are very bad for business, workers, and the whole economy.  2)  The free market is about competition and consumer sovereignty.  Don’t necessarily buy American—buy what’s best.  3)  Bailouts are anti-capitalistic and the only way to stop this is to bring back the Gold Standard and end the Fed.

The Contender

Finally, in your email to me you mentioned that in all your readings, you found no one with real solutions or sufficient character and a backbone.  I can honestly say to you that there is a hardworking group of people who are engaged in a grass roots effort to support an honest and hardworking man who is painfully aware not only of the REAL problems that are hurting the working class, but of real solutions to those problems.  This man of course is Ron Paul, who is an outspoken Austrian school economist who has been able to pinpoint problems and their remedies.  He is the only Republican contender who has tackled these issues, regardless of how unpopular the truth was, and remained unwavering in his position.  If you’ve heard of him but have found cause to distrust him, I beg you to reconsider and see what he has to say.

He has three very popular books out (among many others he’s written) which have changed the minds of many Americans.  There is The Revolution: A Manifesto, in which he outlines his political platform and uses the Constitution, American and world history, and the guidance of the Founding Fathers to back up his platform.  In the book End the Fed he makes the case and the plan for abolishing the Federal Reserve System and reviving the value of our hard-earned money.  In his latest book, Liberty Defined, he provides ideas for Constitutional solutions to various political, fiscal, and social ills that are plaguing our society.  I certainly hope my short explanation provided you with some meaningful answers, or at least provoked your thinking and ore beliefs.  I truly hope you also take into consideration the reading I recommended to you, which surely changed my thinking and strengthened my beliefs.  God be with you, my friend.

The above image used is in the public domain and was obtained from Wikimedia Commons.

Lucy Hayes First Spouse Gold Coin & Bronze Medal Available September 1

WASHINGTON - The United States Mint will begin accepting orders for the Lucy Hayes First Spouse Gold Coin and Bronze Medal on September 1, 2011, at noon Eastern Time (ET).  Both proof and uncirculated versions of the 24-karat gold coin will be available.

The coin's obverse (heads side) was designed by United States Mint Artistic Infusion Program Master Designer Susan Gamble and sculpted by United States Mint Sculptor-Engraver Don Everhart.  The design features the likeness of Lucy Hayes with the inscriptions LUCY HAYES, IN GOD WE TRUST, LIBERTY, 2011, 19th and 1877-1881.  The coin's reverse (tails side) was designed by United States Mint Artistic Infusion Program Associate Designer Barbara Fox and sculpted by United States Mint Sculptor-Engraver Joseph Menna.  The design represents Lucy Hayes' participation in the first Easter Egg Roll held at the White House.  Inscriptions are UNITED STATES OF AMERICA, E PLURIBUS UNUM, $10, 1/2 OZ. and .9999 FINE GOLD.

The Lucy Hayes First Spouse Gold Coins have a maximum mintage of 15,000 across all product options.  The ratio of proof coins to uncirculated coins will be determined by customer demand within the total maximum issuance of 15,000.  Pricing for the gold coins is based on the United States Mint's pricing structure, available at http://usmint/gov/catalog.  Pricing of the 1-5/16" bronze medal, which bears a likeness of the gold coin, is set at $7.95 each.

Orders will be accepted at http://www.usmint.gov/catalog or by phone at 1-800-USA-MINT (872-6468).  Hearing and speech-impaired customers with TTY equipment may place their orders by calling 1-888-321-MINT (6468).  A shipping and handling fee of $4.95 will be added to all domestic orders.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.  The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Note:  To ensure that all members of the public have fair and equal access to United States Mint products, orders placed prior to the official on-sale date and time of September 1, 2011, noon ET shall not be deemed accepted by the United States Mint and will not be honored.  For more information, please review the United States Mint's Frequently Asked Questions, Answer ID #175.

Leader of International Conspiracy Convicted of Defrauding the Military and Smuggling Gold

WASHINGTON – Roger Charles Day Jr. was found guilty late yesterday of leading an international conspiracy to sell more than $4.4 million in nonconforming and defective parts to the Department of Defense (DOD).

The guilty verdict was announced today by U.S. Attorney Neil H. MacBride of the Eastern District of Virginia; Assistant Attorney General Lanny A. Breuer of the Criminal Division; Special Agent in Charge Robert E. Craig of the Defense Criminal Investigative Service (DCIS) Mid-Atlantic Field Office; and Special Agent in Charge Edward T. Bradley of the DCIS Northeast Field Office.

After a nine-day trial, Day, 47, formerly of Long Valley, N.J., was found guilty by the jury on all counts.   Day was charged in July 2008 with conspiracy to commit wire fraud, wire fraud, conspiracy to engage in international money laundering, and conspiracy to smuggle gold out of the United States.   Day was extradited from Mexico in December 2010. Day’s sentencing is scheduled for Dec. 15, 2011.

“The evidence showed that Mr. Day, a serial criminal, used other people like commodities to aid and assist his criminal enterprise,” said U.S. Attorney MacBride. “He sent the military bogus parts to critical application items, which were essential to ensuring the performance of our warfighters and the safety of our military personnel.   The verdict shows that criminals such as Mr. Day will be brought to justice even when they orchestrate complex crimes.”

“Mr. Day masterminded a sophisticated and dangerous conspiracy to profit from the sale of defective parts to the U.S. military,” said Assistant Attorney General Breuer.   “He foolishly put our nation’s security at risk for the sake of personal riches.   Yesterday, a Richmond jury convicted Day for his cowardly crimes, and now he faces the prospect of significant prison time.”   

“Over the past two decades, Roger Day has perpetrated a number of schemes in attempts to defraud the Department of Defense,” said DCIS Special Agents in Charge Craig and Bradley in a joint statement.   “Yesterday’s guilty verdict on all counts brings justice to bear on his criminal activity once again.   It is regrettable that even at a time when this country continues to fight terrorism in a hostile environment overseas, individuals such as Day are willing to attempt to enrich themselves through corrupt activity, at the expense of our brave men and women in the Armed Forces.   The Defense Criminal Investigative Service stands committed to aggressively investigate these crimes and to support their prosecution to the fullest.”

According to the evidence at trial and court documents, over a four-year period Day led a conspiracy to bid on and win contracts to provide parts to the U.S. military through the Defense Logistics Agency (DLA), including through the DLA’s Defense Supply Center in Richmond, Va.   The parts included “critical application items,” which are essential to weapons system performance or operation or to the preservation of life or safety of operation personnel.   Under DOD’s procurement procedures, contractors were permitted to submit electronic invoices upon shipment of the needed parts, and were paid electronically by the Defense Finance and Accounting Service.

In the course of the scheme, Day and other conspirators, operating in the United States, Canada, Mexico and Belize, formed at least 18 separate companies that posed as legitimate contractors and collectively used a computer program to win nearly 1,000 lucrative contract awards for the various companies.  Day and his conspirators then shipped defective parts to the DOD on more than 300 of those contracts, receiving more than $4.4 million in payment on parts that Day purchased for less than $200,000.  In all known cases, the parts sent by Day and his conspirators could not be used for their intended purpose.

Day and his co-conspirators compounded the fraud by concealing their identities through the use of multiple nominee companies and by assuming others’ identities to operate the companies.  When DOD requested proof that the companies had purchased and intended to supply the correct parts from approved manufacturers, Day and others submitted fabricated documents that falsely represented that the correct parts had been purchased.  When DOD debarred several of the companies from doing further business with the military, Day directed his conspirators to discontinue bidding through those companies and instead formed and used new companies. 

According to evidence presented at trial, to conceal the proceeds of the scheme and to prevent recovery, Day directed his conspirators to transfer the scheme’s proceeds to offshore bank accounts and ultimately to purchase more than 3,500 ounces (more than $2.2 million) in gold bars and coins.  Day further directed his conspirators to bring the gold bars and coins to his residence in Lo De Marcos, Mexico.   On one occasion he directed them to hide the gold bars in the modified bumper of a 1979 Toyota LandCruiser and on another occasion in the rear hatch door panel of a 1971 Austrian Pinzgauer military transport vehicle.

At sentencing, Day faces a maximum of 20 years in prison for each count of conspiracy to commit wire fraud and each count of wire fraud, 10 years in prison for each count of conspiracy to engage in international money laundering, and five years in prison for each count of conspiracy to smuggle gold out of the United States.

Prior to Day’s trial, five defendants in this conspiracy pleaded guilty.  Nathan Francis Victor Carroll was sentenced on Nov. 8, 2007, to 94 months in prison and was ordered to pay nearly $3.7 million in restitution.  Gregory Allen Stewart was sentenced on April 29, 2008, to 75 months in prison and was ordered to pay nearly $3.7 million in restitution.  Susan Crotty Neufeld was sentenced on May 14, 2008, to five years of probation and ordered to pay $47,600 in restitution for the gold coins she received.  Juerg Mehr was sentenced to five years of probation on March 27, 2009.  Glenn Teal was sentenced on Sept. 22, 2009, to 90 days in prison.

This case was investigated by DCIS, with assistance from the Defense Contract Audit Agency.   Assistant U.S. Attorneys John S. Davis and Elizabeth C. Wu of the Eastern District of Virginia and Special Assistant U.S. Attorney and Trial Attorney Ryan S. Faulconer of the Criminal Division’s Fraud Section prosecuted the case. The Criminal Division’s Office of International Affairs provided assistance.

United States Mint Launches Rutherford B. Hayes Presidential $1 Coin

FREMONT, Ohio - Residents of Fremont and the surrounding area today celebrated the release of the new Presidential $1 Coin honoring their hometown hero, Rutherford B. Hayes, the 19th President of the United States.

"The Presidential $1 Coin series connects us to the wellspring of our nation's greatness and the many stories that unite us," said Marc Landry, Acting Associate Director of Manufacturing at the United States Mint.  "One of those stories is captured at Spiegel Grove, the beautiful place where President Rutherford B. Hayes retired from elected office but remained a dedicated public servant, helping veterans, improving prisons and fighting for universal education."

Landry shared the stage with several state and local officials, including Thomas J. Culbertson, executive director of the Rutherford B. Hayes Presidential Center.  The center is a compound that includes Spiegel Grove, the former President's home, and the Rutherford B. Hayes Center Library, the first Presidential library .  Members of the public who attended the event were among the first in the Nation to get the new $1 coin, which entered into circulation today.  Following the ceremony, each attendee 18 years old and younger received a Rutherford B. Hayes Presidential $1 Coin to commemorate the event, and adults exchanged their currency for 25-coin rolls of the new coin.

The Rutherford B. Hayes Presidential $1 Coin is the 19th release in the United States Mint Presidential $1 Coin Program, authorized by the Presidential $1 Coin Act of 2005.  The coin's obverse (heads side) bears a bold portrait of former President Hayes by United States Mint Sculptor-Engraver Don Everhart with the inscriptions RUTHERFORD B. HAYES, IN GOD WE TRUST, 19TH PRESIDENT and 1877-1881.  The coin's reverse (tails side), also by Everhart, features a dramatic rendition of the Statue of Liberty with the inscriptions $1 and UNITED STATES OF AMERICA.  The inscriptions E PLURIBUS UNUM, 2011 and the mintmark ("P" or "D") are incused on the coin's edge.

Rutherford B. Hayes was born in Ohio in 1822.  He was educated at Kenyon College and Harvard Law School.  At the onset of the Civil War, Hayes volunteered his services and was appointed to the rank of major.  When he was discharged in 1865, Hayes, who was wounded in action four times, was promoted to the rank of major general for "gallant and distinguished services."  While he was still in the Army, Hayes was elected to the House of Representatives, where he served until 1867.  Subsequently, he served three terms as the Governor of Ohio.  In 1876, Hayes became the Republican candidate for President.  Despite losing the national popular vote, he prevailed by one vote in the Electoral College, becoming the Nation's 19th President.  Hayes announced in advance that he would serve only one term.  True to his word, he retired to Spiegel Grove at the end of his term in 1881.  He died in 1893.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.  The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Citizens Coinage Advisory Committee Seeks New Members

WASHINGTON - The United States Mint is seeking applicants for appointment to the Citizens Coinage Advisory Committee (CCAC).  There are two open positions - one who is specially qualified by virtue of his or her education, training, or experience in numismatic curation and one representing the interests of the general public in the coinage of the United States.  The application deadline is September 15, 2011.  The United States Mint will review all applications and forward recommendations to the Secretary of the Treasury for consideration and appointment. 

The CCAC was created to advise the Secretary of the Treasury on the selection of themes and design proposals for circulating coinage, bullion coinage, Congressional Gold Medals and other medals.  The CCAC also advises the Secretary with regard to the events, persons, or places to be commemorated by the issuance of commemorative coins, as well as mintage levels and proposed designs of commemorative coins.

The CCAC is composed of 11 members-one specially qualified in numismatic collection curation; one specially qualified in the medallic arts or sculpture; one specially qualified in American history; one specially qualified in numismatics; three individuals representing the interests of the general public; and four individuals recommended by the Leadership of both the U.S. House of Representatives and U.S. Senate.  CCAC members serve terms of four years and are Special Government Employees, who are subject to applicable conflict of interest laws and ethics regulations.

Individuals wanting to be considered for appointment as the CCAC member who is specifically qualified in numismatic curation or as a member representing the interests of the general public,  should submit a letter, along with a resume or curriculum vitae, detailing specific educational credentials, skills, talents and experience.  Applicants must specify the position for which they would like to be considered.  Applications should be submitted by fax to 202-756-6830, or by mail to the United States Mint, 801 9th St., N.W., Washington, DC 20001, Attn:  Andrew Fishburn.  Submissions must be postmarked no later than September 15, 2011.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.  The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Rutherford B. Hayes Presidential $1 Coin Rolls Available August 18

WASHINGTON - The United States Mint will begin accepting orders for rolls of the Rutherford B. Hayes Presidential $1 Coins on August 18, 2011, at noon Eastern Time (ET).  The collectible rolls are priced at $39.95 each. 

Each roll of Presidential $1 Coins contains 25 circulating quality coins from either the United States Mint facility at Philadelphia or Denver.  The coins are wrapped with United States Mint coin paper displaying the mint of origin ("P" or "D"), "$25" (the face value of its contents) and the name of the President. 

Orders will be accepted at http://www.usmint.gov/catalog and at 1-800-USA-MINT (872-6468).  Hearing- and speech-impaired customers may order at 1-888-321-MINT (6468).  A shipping and handling fee of $4.95 will be added to all domestic orders.

The Presidential $1 Coin rolls are also available through the United States Mint Online Subscription Program.  Once enrolled in the program, customers will receive automatic shipments of future Presidential $1 Coin rolls as they become available.  For more information about this convenient ordering method, visit http://www.usmint.gov/catalog.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce  The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Note: To ensure that all members of the public have fair and equal access to United States Mint products, orders placed prior to the official on-sale date and time of August 18, 2011, at noon ET shall not be deemed accepted by the United States Mint and will not be honored.  For more information, please review the United States Mint's Frequently Asked Questions, Answer ID #175.

United States Mint to Participate in American Numismatic Association’s 2011 Chicago World’s Fair of Money®

WASHINGTON - The United States Mint announced today that it is attending the American Numismatic Association's (ANA) World's Fair of Money Convention August 16-20 at the Donald E. Stephens Convention Center in Rosemont, Ill.  The bureau will be located at booth #1777.

Opening day events on Tuesday, August 16 include the official ribbon cutting ceremony at 8:45 a.m. Central Time (CT), in which Treasurer of the United States Rosie Rios will participate.  Following the ceremony, Treasurer Rios will hold a public forum at the World Mint Stage at 11 a.m. to answer questions and discuss issues affecting the United States Mint, Bureau of Engraving and Printing, and Department of the Treasury.

On Friday, August 19 at 1 p.m., United States Mint Deputy Director Richard A. Peterson will host a public coin forum at the World Mint Stage and sign autographs at booth #1777.  

During the convention, the United States Mint will offer the following products for sale at its booth:

* Assorted 2010- and 2011-dated America the Beautiful Quarters® Program products

* 2011 American Buffalo Gold Proof Coins

* 2011 American Eagle Gold, Silver and Platinum Coins

* 2011 United States Army Commemorative Coins

* 2011 Medal of Honor Commemorative Coins

* 2011 Native American $1 Coin 25-Coin Rolls (P&D)

* 2011 Kennedy Half-Dollar Bags and Two-Roll Sets

* Assorted Presidential $1 Coin and First Spouse Gold Coin products

* Assorted bronze medals, including Womens Airforce Service Pilots, the Dalai Lama, Abraham Lincoln, Tuskegee Airmen and first spouses

These and other products are also available for purchase at http://www.usmint.gov/catalog or by calling 1-800-USA-MINT (872-6468).  Hearing- and speech-impaired customers with TTY equipment may order by calling 1-888-321-MINT (6468). 

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.  The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Impending Social Strife?

By Ron Paul

The greatest threat facing middle and working class Americans is our depreciating paper currency.

At least when the kings of old debased their coinage, by adding copper to the precious metal, there was still some objective value to the resulting money. But as economist David Ricardo observed almost two centuries ago, when money costs nothing, it will become worth nothing.

"Government," said Ludwig von Mises, "is the only agency that can take a useful commodity like paper, slap some ink on it, and make it totally worthless."

Today, thanks to 67 years of central bank control over the money supply, we face an economic and political crisis greater than any we have faced before.

We probably will see widespread civil disorder in the 1980s, as a direct result of our faltering economic system. The dollar has been damaged by decades of interventionism, and Congress has legitimized depreciation of the dollar and forced redistribution of wealth through corporate and social welfare schemes.

All aspects of the interventionist system threaten freedom and social peace, but money is the major issue, since it is the lifeblood of all economic transactions. If we are to reverse the trends of the past six or seven decades, honest money and monetary debasement must become top concerns of ordinary Americans.

The late Martin Gilbert, head economist for a Swiss bank, was a convert to the gold standard. Among his employees was a young manual worker. "Once a month," said Gilbert, "he took part of his pay and bought a gold coin for his wife. I remonstrated with him about it once, and he said, 'Look, don't you Americans come over here and try to tell us how to live. I go home and I give that coin to my wife, and I tell her, "If something happens to me, and to the bank and all the governments, you can go into the countryside and give it to a farmer, and with that coin you can eat for a week."’ I came around to the opinion that he knew something I didn't know."

This article was excerpted from the booklet Gold, Peace, and Prosperity, copyright © 1981 by the Foundation for Rational Economics and Education, Inc. Permission to quote from, or to reproduce liberal portions of, this publication is granted, provided due acknowledgement is made.

No, Your Money Isn't Safe

By Zach Foster
Best read with companion article No, We're Still Not Protected

The companion article stated:

"The truth is that, while there are a few more restrictions on what the clowns on Wall Street can do, Americans are not better off than they were a year ago before the magical everything-proof shield was signed into law.  Banking is still highly unstable in the country, and the banks still exist as entities only because they were artificially revived in the form of massive bailouts.  All across the political spectrum, Americans are angry that the massive bailouts ever happened, and they haven’t forgotten that this bailout, spearheaded by Treasury Secretary Tim Geithner (who was present at the appointment ceremony for the head of the CFPB), happened under President Obama’s watch and he failed to take action against it."

Banking will never be stable in America until the Federal Reserve, whose hands are in every cookie jar, from Chase and Wells Fargo to your community bank, is fully audited and eventually dissolved, and the farce of fractional reserve banking is done away with.

Fractional reserve banking is one of the key factors causing the Great Depression.  Many people don’t know this, but the amount of money printed on their bank account statement is NOT the amount of money that exists in their community bank vault.  The standard reserve requirement for larger banks set by the Federal Reserve is ten percent,[1] meaning out of every hundred dollars a person saves in the bank, only ten of those dollars actually have to exist in a vault.  This system is a bridge of thin ice, since theoretically only ten percent of a bank’s customers need to take out all of their money in order for the bank to run out of money and close down (the true meaning of bankruptcy).

Economist Murray Rothbard makes a compelling case that fractional reserve banking goes hand-in-hand with inflation,[2] since the only way to account for the ninety percent of a bank’s money that doesn’t exist is to hastily print paper money, and printing more money further devalues the American dollar (this is exactly why America needs to return to the gold standard[3]).

The image used is artwork by the author.  It was compiled from various images from Wikimedia Commons as well as text added by the author.

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[1] http://www.federalreserve.gov/monetarypolicy/reservereq.htm

[2] Rothbard, Murray. “Take Money Back.”

[3] Paul, Ron. Gold, Peace, and Prosperity.  The Foundation for Rational Economics and Education. Pp. 31-32, 39

United States Mint Presidential $1 Coin & First Spouse Medal Set™ - Ulysses S. Grant Available July 7

WASHINGTON - Sales of the United States Mint Presidential $1 Coin & First Spouse Medal Set -Ulysses S. Grant will begin on July 7, 2011, at noon Eastern Time (ET).  The set, priced at $14.95, includes an uncirculated Ulysses S. Grant Presidential $1 Coin and a bronze medal bearing the likeness of Julia Grant that is featured on her First Spouse Gold Coin.  The coin and medal are encased in a durable plastic card enhanced with beautiful representations of the President's and first lady's portraits, with issuance information on the back.

Customers may place their orders at http://www.usmint.gov/catalog or at 1-800-USA-MINT (872-6468).  Hearing- and speech-impaired customers with TTY equipment may place orders at 1-888-321-MINT (6468).  A $4.95 shipping and handling charge will be added to all domestic orders. 

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.  The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Note:  To ensure that all members of the public have fair and equal access to United States Mint products, orders placed prior to the official on-sale date and time of July 7, 2011, noon ET shall not be deemed accepted by the United States Mint and will not be honored.  For more information, please review the United States Mint's Frequently Asked Questions, Answer ID #175.

Palm Beach Owner of Three Precious Metals Firms Charged in $25 Million Precious Metals Investment Scheme

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, Henry Gutierrez, Postal Inspector in Charge, United States Postal Inspection Service, and J. Thomas Cardwell, Commissioner, State of Florida’s Office of Financial Regulation, announced that Jamie Campany, 47, of Palm Beach County, has been charged in a Criminal Information with multiple counts of mail and wire fraud. The Information charges Campany with five counts of mail fraud and four counts of wire fraud, in violation of Title 18, United States Code, Sections 1341 and 1343, respectively. Campany is scheduled to make his initial appearance in court before U.S. Magistrate Judge Lurana S. Snow tomorrow at 11:00 a.m. in federal court in Fort Lauderdale.

According to the Information, Campany was the owner of three investment firms specializing in purported gold, silver, platinum, and palladium bullion purchases on behalf of individual clients. Among his companies were Global Bullion Exchange, LLC (“Global”), in Lake Worth, Florida, and various affiliated licensee businesses throughout Palm Beach, Broward and Miami-Dade counties and other locations outside of Florida. In addition to Global, Campany owned and operated two predecessor firms, Barclay Trading Group, Inc. (“Barclay”) and The Bullion Group, Inc., both with offices in West Palm Beach.

As alleged in the Information, Campany’s three businesses conducted a sophisticated telemarketing operation to solicit investors to purchase precious metal bullion using purported “leverage” financing. These same investors were led to believe that they would need only to provide a fraction of the total cost of the purchased metals, with the remainder of the purchase price to be covered by margin-type financing, which would purportedly be extended to the investor by a purported “clearing firm.”

As further detailed in the Information, from about September 2006 to April 2007 when Barclay was succeeded by Global, the purported “clearing firm” with which Barclay had initially associated began delaying and ultimately ignoring requests by Barclay’s customers to sell their precious metals investments. As a result, the unsatisfied clients began to complain and threatened Barclay with litigation. In addition, the clearing firm’s failure to sell the clients’ holdings left Barclay insolvent.

As further alleged in the Information, in an attempt to prevent further complaints, litigation, and possible governmental enforcement action, Barclay began to satisfy its clients’ requests for liquidation of their investments by making payments to these clients using funds it had received from newer investors. After Global succeeded Barclay, Global continued this same Ponzi strategy. Global thereafter used Diversified Investment Group, Inc. (“Diversified”), a shell company controlled by defendant Campany, as its purported “clearing firm.” In fact, however, the Information alleges that no bullion was purchased, even though clients paid substantial commissions and fees totaling approximately 18% of the total purported value of the metal allegedly purchased.

According to the Information, Campany also misrepresented to the investors that their holdings had been financed through so-called “margin” credit. Thus, the investors were charged substantial interest on these non-existent “loans” and were subjected to periodic false “margin calls” during market declines. A margin call required investors to supply additional funds upon demand to increase their account equity levels. Moreover, investors who could not comply with such “margin calls” were informed that their investment positions had been forcibly liquidated and taken by Diversified as a secured creditor.

In a recent litigation filed in Miami-Dade Circuit Court by a court-appointed assignee, it is estimated that more than 1,400 investors were defrauded by Campany’s scheme out of more than $25 million.

Campany faces a maximum sentence of twenty years’ imprisonment and a maximum $250,000.00 fine for each of the Information’s nine counts.

Mr. Ferrer commended the investigative efforts of the FBI, U.S. Postal Inspection Service and Florida’s Office of Financial Regulation. In addition, Mr. Ferrer thanked the Commodity Futures Trading Commission and National Futures Association for their assistance in this case. The case is being prosecuted by Assistant U.S. Attorney Peter B. Outerbridge.

An Information is only an accusation, and a defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

A copy of this press release may be found on the website of the United States Attorney’s Office for the Southern District of Florida at www.usdoj.gov/usao/fls.  Related court documents and information may be found on the website of the United States District Court for the Southern District of Florida at www.flsd.uscourts.gov or pacer.flsd.uscourts.gov.

Jupiter Man Sentenced in $1.6 Million Precious Metals Investment Scheme

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, and Amos Rojas, Jr., Special Agent in Charge, Florida Department of Law Enforcement, FDLE), Miami Field Office, J. Thomas Cardwell, Commissioner, State of Florida’s Office of Financial Regulation, and Edward M. Morley, Chief, Stuart Police Department, announce yesterday’s sentencing of defendant Christopher Arthur Kertatos, 40, of Jupiter, Florida. U.S. District Court Judge K. Michael Moore sentenced Kertatos to 42 months in prison, following his earlier plea of guilty to conspiracy to commit mail fraud and eight counts of mail fraud for his involvement in a $1.6 million fraud involving the precious metals market.

According to statements made in court and documents filed in the case, Kertatos was the operator of Bullion Trading Group, with offices located in Stuart and West Palm Beach, Florida. Bullion Trading employed brokers who solicited private investors nationwide to invest in precious metals, such as gold, silver, and palladium. Though false representations as to material facts in the solicitation of funds, Kertatos and others helped secure nearly $1.6 million in funds from the victim investors. The victims were made to believe that their money was being invested in the precious metal market. In fact, however, Kertatos and his co-defendants actually used the funds for their personal benefit.

Mr. Ferrer commended the FBI, FDLE, State of Florida’s Office of Financial Regulation, and the Stuart Police Department for their work in the case. This case was prosecuted by Assistant U.S. Attorney Carmen Lineberger.

A copy of this press release may be found on the website of the United States Attorney’s Office for the Southern District of Florida at http://www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the District Court for the Southern District of Florida at http://www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.