The Man Who Used Liberty Dollars
A song about courage and value
May 1, 2007
Fred Foldvary, Ph.D.

to the tune of The Man Who Shot Liberty Valance (Lyrics at

Melody at

Based on the true Liberty Dollar story

When federal agents came to town,

the freedom folk would hide,

yes, hide.

Because free-market folks did use

liberty coins and notes.

And the point of the gun

was the only law

the agents understood.

When it came to truth and real legality,

The Feds were mighty bad!

Out of the blue the G men came,

in an unlicensed car,

it’s true!

They knocked on the door of craftsman Jake,

a Liberty Dollar man.

They asked all kinds of real rude questions:

“What’s wrong with U.S. cash?”

At the point of a gun, it can be scary,

Most folks would give in.

Out of the blue the G men came,

in an unlicensed car!

But the man who used Liberty Dollars,

He used Liberty Dollars!

He was courageous above all.

The G boys told Jake he was nuts,

To use those liberty disks,

as coins.

They said,“They’re useless at the bank.”

“It’s not real currency”.

“Why do you hate America?” they yelled.

They cursed and hissed and screamed.

But Jake just answered calm and steady,

“Silver keeps it real.”

Many a man will face the Feds

and quiver at their threats.

But the man who used Liberty Dollars;

He used Liberty Dollars!

He was courageous above all!

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Inside information on economics, society, nature, and technology.
Fred Foldvary, Ph.D.

FRED E. FOLDVARY, Ph.D., (May 11, 1946 — June 5, 2021) was an economist who wrote weekly editorials for since 1997. Foldvary’s commentaries are well respected for their currency, sound logic, wit, and consistent devotion to human freedom. He received his B.A. in economics from the University of California at Berkeley, and his M.A. and Ph.D. in economics from George Mason University. He taught economics at Virginia Tech, John F. Kennedy University, Santa Clara University, and San Jose State University.

Foldvary is the author of The Soul of LibertyPublic Goods and Private Communities, and Dictionary of Free Market Economics. He edited and contributed to Beyond Neoclassical Economics and, with Dan Klein, The Half-Life of Policy Rationales. Foldvary’s areas of research included public finance, governance, ethical philosophy, and land economics.

Foldvary is notably known for going on record in the American Journal of Economics and Sociology in 1997 to predict the exact timing of the 2008 economic depression—eleven years before the event occurred. He was able to do so due to his extensive knowledge of the real-estate cycle.