Are Audits important to you?
Click HERE to view the Audits
They should be! An audit is the only way to ensure that assets that you own (such as money, stocks, bonds, or commodities) are being kept safe by those you hire to protect them (such as banks, warehouses, brokerages, corporations.) After all, it's your property that is at risk if an audit is not performed properly, or if audit information is not acted upon appropriately. It's everyone's responsibility to manage their own assets, even if others hold them. Audits are the only legal and practical way to do this.
Since the Liberty Dollar was introduced on October 1, 1998, the audit has been the single most important fact in establishing the credibility of the Liberty Dollar. With all due respect to Doug Jackson of e-gold, James Turk of GoldMoney, Jim and Pam Fayed of e-bullion, the Liberty Dollar is the only value-backed currency that has been audited from day one. In fact, it is the first currency in 5,000 years of monetary history to be audited from day one.
Over 23 years of research & development of the Liberty Dollar, the methodical documentation of account (as is done in an independent audit) stood out as the single most important tool people have of guaranteeing the value of any currency. If the Federal Reserve was actually audited, as it should be, we would not even need an audited, value backed currency like the Liberty Dollar, or the other currencies.
But the reality is that the Federal Reserve is not audited, and consequently Federal Reserve Notes have lost 98% of their value since 1913. If we don't do something to safeguard the value of our money, then it will continue to lose purchasing power through quiet, gradual inflation. It was for this reason - counteracting inflation - that I introduced the Liberty Dollar, an audited, value backed currency.
Every month since October 1998, a CPA with Clark, Anderson, McNelis & Company, one of the largest CPA firms in Coeur d'Alene, Idaho, has made an on site, independent, physical audit of the warehouse, which issues the Liberty Dollar. And every month, utilizing the strictest GAAP standards, the auditor has issued a certified audit report to the Liberty Dollar organization, which is then posted for review on it site at: http://www.libertydollar.org/ld/information/audits.htm.
Not only does the auditor verify that every Liberty Dollar is 100% backed, she also verifies that no warehouse receipts (gold & silver certificates) have been issued without its backing. So tight is the warehouse operation, there has not been one irregularity to report since the audit began in October 1998.
So, do we use a big name accounting firm? No. Luckily, there aren't any in Coeur d'Alene. When we were investigating auditors, we ruled out "big names" because like "big government", they are often "big crooks," as we have seen. There is simply no need for a big name, there is only the need for an honest name and an honest audit.
In addition to the monthly audit, an Annual Audit and Inspection is also conducted every September. Every year; the auditor, the warehouseman whose signature appears on the warehouse receipts and myself representing the Liberty Dollar; plus up to six Liberty Associates meet at the Sunshine Mint in Coeur d'Alene. The yearly inspection includes a complete tour of the Mint, an explanation of the minting process and a visit to the vault to inspect the gold and silver held for immediate redemption and the un-issued warehouse receipts. Then the auditor, warehouseman, a witness and I sign an Annual Audit and Inspection form, which is also posted on the Liberty Dollar site.
An audit is the highest standard that can be set for any currency and must be set if that currency is to last without defrauding the public. This holds true for digital currencies too. As the Monetary Architect who designed and developed the digital Liberty Dollar and other digital currencies, I learned how mind-blowingly difficult it is to audit a digital currency. Though years with The Liberty Dollar, I was amazed to learn the complexities of a currency audit and soon found myself on the leading edge to develop the necessary controls for such an audit. Repeatedly, I found the program had to be re-written, to create a new accounting mode to meet the digital age requirements.
Because of my experiences, the digital Liberty Dollar did not debut until an ironclad audit procedure was created. I can now say that from day one, the Liberty Dollar in all its useful forms: metal, paper & digital, has been independently audited since day one. And it will continue to be, without fail.
Now you have a clear choice. Not only has the Liberty Dollar monetized one troy ounce of .999 fine silver for $10.00 in the market place, it now offers a 100% backed currency at a discount that you can use at a profit. Why pay a premium when you "can protect your money, do good and have fun" with the new Liberty Dollar? Now you have a choice. Will it be the dollar that is backed by the politician's hot air and a tool of totalitarianism, or the Liberty Dollar that is backed by silver and an example of the free enterprise system? Do you want the red pill or the blue pill? As you chose, so goes the country.
I did not create the Liberty Dollar to make money for myself, which is why the Liberty Dollar is distributed by a national, non-profit, educational organization. My sole intent in designing the Liberty Dollar was to provide the best, model currency that would work in the current transitional monetary system. It was created by studying the past failed currencies and correcting for their shortcomings. If an improvement can be made, if you can create a better system, I would welcome the opportunity to review it. And if it is truly better, I will use it myself. But if you cannot improve on the Liberty Dollar, then for the sake of our country and your money, I ask you to support the Liberty Dollar and protect your money - one dollar at a time.
Bernard von NotHaus
Click HERE to view the Audits