Live Oak Florida - The Liberty Dollar Financial Association (LDFA) is a lot more than a stored value company, according to Bernard von NotHaus – infamous monetary architect of the Liberty Dollar over which he was convicted of counterfeiting by the US government, but hailed as a hero by the Sound Money Movement.
“Liberty Dollar Financial is not a currency,” he says. “It’s actually the foundation of an entire, separate economy that honors and supports the very people who are being silenced and persecuted in the United States and in many other countries. With built-in payment processing, the Liberty Dollar Financial Association offers a broad based international alternative to PayPal, Amazon and eBay.”
LDFA, which recently received its first round of investment funding, is built on a platform that is similar to PayPal, although client funds are kept not in a bank but in investment-grade silver bullion. This means that the financial value of a client account will correspond to the real-time spot price of silver that always rises right along with inflation, so account holders’ purchasing power is maintained.
The LDFA system is purposefully designed to protect the spending power of its clientele by increasing the dollar value in the members’ accounts as the silver price rises. Since inflation affects all commodities in a generally equal way, the future purchasing power of a client’s accounts will be secured by the increase in the value of silver.
Accessing that spending power will be incredibly easy, since every account holder will receive a debit card that that is tied to their Liberty Dollar Silver account. Charges with the card are automatically covered by deducting the appropriate amount of silver at the current spot price. The LDFA card can be used anywhere in the world at point-of-sale locations, ATMs and online, wherever MasterCard is accepted.
In addition, LDFA will issue a smartphone app that will allow point-of-sale and peer-to-peer transactions through the use of a QR code. The system will also work anywhere in the world, allowing LDFA members to conduct transactions even when it is not possible to use a debit card.
But what about von NotHaus’ comments about Amazon and eBay?
“The LDFA site,” he explains, “also features a digital Marketplace, where members can list items for sale, and merchants can establish their own online store. An eBay-style auction system based on silver will debut shortly.”
When asked about what else might be added on the platform, von NotHaus grinned. “We’re considering building our own Social Network,” he said. “While there are several free-speech-oriented networks already in existence, they tend to lean heavily toward political discussion. While we support free speech and all of the other freedoms guaranteed by the US Constitution, the real purpose of a Social Network would be to socialize and network, not just pitch a fit about the current political situation.”
The platform is up and in beta testing. New members are signing up every day. Von NotHaus refers to them as “members” because the business is established as a Private Membership Association (PMA). This affords a measure of privacy not available to public corporations, as PMAs cannot be compelled to reveal information about their members except in extreme circumstances. A PMA is specifically exempt from laws and regulations designed to protect the public unless its actions present a grave danger to its membership or to the public.
For more information regarding Liberty Dollar Financial Association, visit the company’s website at http://ldsilver.nl or email firstname.lastname@example.org.