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Obama administration declares Liberty Dollar to be "Domestic Terrorism."

Ithaca Hours. A new statement by the Obama administration calls privately issued currency like this an act of domestic terrorism.

The Liberty Dollar was one of several efforts to create a parallel currency to compete with the Federal Reserve notes. It was backed by silver and gold. It was in operation for 15 years before being shut down by the Bush administration.

The founder is awaiting sentencing for “crimes” relating to the currency. The Obama administration issued a statement that any attempt to compete with the Federal Reserve Note is “Domestic terrorism.”

No word yet on whether or not Obama’s goon squads plan to raid Ithaca, New York. Ithaca is home to the “Ithaca Hours,” a competing currency issued by the municipal government. It has been in operation for decades and is considered the most successful private currency in the US. It is backed by labor. One Ithaca hour is worth an hour of labor by a municipal employee.

Numerous state legislatures around the nation are sponsoring bills to issue state currencies backed by precious metals.

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