Jim Lesczynski put me on the mailing list for New York City’s new Libertarian underground rag called Serf City. I received the first two issues the other day and read the articles last night. To my surprise, I found out that the NY Sun had used one of them as a basis for a front page article in their publication. The topic: Liberty Dollars.
Over pierogies and cabbage rolls at a Lower East Side restaurant, the Manhattan Libertarian party recently discussed the virtues of the private currency. Backed by real gold and silver, the Liberty Dollar is created and issued by the National Organization for the Repeal of the Federal Reserve Act and the Internal Revenue Code. The currency does not say “legal tender” and is therefore in compliance with federal law.
But can you use it?
Yes, indeed, said Nic Leobold, a writer for Serf City, the newspaper published by the Manhattan Libertarian Party. He used the Liberty Dollar at several local establishments, including Grey’s Papaya, a bodega near Grand Central Terminal, and Dunkin Donuts. (At the dinner, however, most people appeared to be paying the Ukrainian Restaurant in Federal Reserve notes.)
The NY Sun article went on to cover other private currencies, both local and historical. While I’m not a Liberty Dollar buff, I’m finding the increased use of them around the country interesting. When I was in Austin, a whole lot of businesses accepted them, and now I see that some in NYC do, as well. While I’m not dumping my greenbacks for silverbacks quite yet, I’ll be watching to see how this trend develops.