LBD Inventory Update

in #cryptocurrency4 years ago (edited)

We have just more than doubled our silver stock from 98.15 ounces to 200.15 ounces. Once again we went with First Majestic. To be clear we are not affiliated with this company. At this time it is convenient and affordable, it allows us to keep our price low to you, and it is a pretty nice product we consider a step above generic. Our real goal is to get a monster box of philharmonics but if you haven't noticed it is difficult to get anything out there nowadays. If you look at how much it costs to get 1 troy ounce worth of silver in LBD the total comes to $26.63, a very competitive price for the services this program offers. Please keep us in mind as you search for silver as $26.63 an ounce is VERY competitive. When we made our first two purchases the price per ounce at First Majestic was $20, the last two purchases $21. If you check now it is $25 per ounce! A direct result of the recent rise in comex prices. Today the comex price read $22.83 at 1115 EDT.

We are not going anywhere. It has been a while since our last update but we are here for the long haul, in fact we present a new feature of our update called "Roadmap" where we delineate what we are working on behind the scenes. See below.

Proof of silver is also below, enjoy the pictures.

The easiest and best way to buy, store, redeem and most importantly transact in silver is The Libertarian Dollar, ticker LBD, an SLP Token. Get yours today at www.libertariandollar.com

Any questions email [email protected]. Put "LBD" in the subject field.

We do not sell LBDs unless we have the physical silver to back it up, in possession. If someone were to buy all 258 LBDs available at this time they would not be able to buy any more until more physical silver was added to our inventory. The "continue selling when out of stock" option is NOT enabled on our website.

A word on redemption. Recall that this is a non allocated program. We have still not had a redemption request, mostly because the one person who has the only ~1 LBD outstanding has not requested delivery. We have yet to sell our first LBD. The intention of this program is to make all LBDs redeemable in silver. We want to be clear that if there are limitations in our ability to redeem it would not be for any nefarious reason but rather some logistical reasons. Imagine the only silver we have in inventory is in the form of 1000 oz comex bars and you are trying to redeem 3 ounces. It just wouldn't work. That is just one example. As we stand this business up we are trying to be transparent about possible hiccups in operations. But we remain committed to prioritizing the requests in the order received and fulfilling them as soon as logistically possible. At this time we intend to provide physical silver upon request at no extra charge to you, we will either cover the shipping or do a peer to peer exchange in an agreed upon location. It is important for you as a customer to monitor the updated inventory list before making a redemption request to verify it would even be possible. Also keep in mind the true benefit of this program is the facile exchange of a silver backed crypto, instant and international, rather than an indirect way of accumulating physical.

Because the sale price of LBD is directly related to what we paid for silver on hand, we can foresee periods of time when the LBD program will offer arbitrage opportunities. As stated above, because our present inventory was purchased prior to the recent run up in the comex price, our price per ounce of $26.63 is extremely competitive at this time. If the comex continues to rise prior to our next purchase it is possible our program will be the absolute cheapest way to buy silver anywhere, period. We will do our best to meet any redemption requests but just want to shine some light on possible limitations and our promise to honor all redemption requests whether delayed or not.

Updated Inventory:
3 - 10 ounce first majestic coins
4 - 5 ounce first majestic coins
3 - 2 ounce first majestic coins
23 - 1 ounce first majestic coins
40 - 1/2 ounce first majestic coins
24 - 1 ounce maple leafs
1 - 32.15 ounce first majestic bar
3 - 10 ounce first majestic bars
3 - 5 ounce first majestic bars
6 - morgan silver dollars (advertising budget not for sale)

Price per 1 LBD (24.057 grams of Ag): $20.60
Price per 1.293 LBD (1 troy ounce of Ag) = $26.63
Price per 0.041 LBD (1 gram of Ag) = 85¢
LBDs available for sale: 258
Silver backing for LBDs on sale: 200.15 ounces
LBDs in circulation: 1.012
LBDs in Mint: 7,111,111,109.988

Roadmap:
Increase inventory of silver. Obtain safe / safety deposit box for storage. Obtain insurance program that can double as audit (we assume the insurer would want to verify what they are insuring). Obtain audit certificate from BDO International or equivalent. Obtain some technical equipment (laptop, desktop, business phone etc) to help with customer support and marketing program (starting with a podcast interview tour, radio commercials, web ads etc). Hire employee #2 with skill set to handle regulatory and accounting, set up LLC or whatever appropriate, etc.

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200.15oz of silver, or, 258 LBDs

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Complete LBD Inventory, 200.15oz silver for sale and 6 morgan silver dollars for marketing budget

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2oz first majestic coins

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5oz first majestic coins

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10oz first majestic coins

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1oz first majestic coins

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1/2oz first majestic coins

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1oz Canadian maple leafs

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32.15oz first majestic bar

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10oz bars

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5oz bars

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6 morgan silver dollars marketing budget

The easiest and best way to buy, store, redeem and most importantly transact in silver is The Libertarian Dollar, ticker LBD, an SLP Token. Get yours today at www.libertariandollar.com

[email protected]. Put "LBD" in the subject field.

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Wow... You're sitting on a Fortune...
July 24, 2020... 22.1 Hollywood Time...

Next stop, 500 ounces. Don't blink.

As per my Vision, your 200.15 Ounces of Silver, will have a Minimum Melt Value of $70,052.50 in today's Fiat U.S. Currency... In Terms of U.S. Sound Money, the Minimum Melt Value will be $700.5250 in U.S. Electronic Sound Money... Either way, they will both have the same "Spending Power" in terms of Melt Value...
July 25, 2020... 14.7 Hollywood Time...

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