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The North Dakota "Miracle"

North Dakota has had the nation's lowest unemployment ever since the economy tanked. What's its secret?
It is not just the oil. Further, they have recently LOWERED income and property taxes.

Read about the "miracle":

http://www.yesmagazine.org/new-economy/the-north-dakota-mira...



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Nothing miracle about ND

The oil and agrigulture is a big part of why they state does well. The oil revenue for the state is a good chunk of ND's overall revenue. The state run bank is like a tiny central bank without the federal power for money creation and coruption. In a way its like a credit union with the people of ND being the members. The last part of her article is what makes this a good idea. Invest in your own state instead of in Bank of America. However i dont believe in the federal govmnt having a central bank but i think at the state level if it works then why not. At any rate there is no miracles about ND, trust me i lived there forever. BTW Texas's unemployment is probably so low because all there workers come to ND to work the oil fields.

Is this the same Ellen Brown...

that Dr. Gary North mentions here?

Ellen Brown's Web of Debt Is an Anti-Gold Currency, Pro-Fiat Money, Greenback, Keynesian Tract. Here, I Take It Apart, Error by Error.

http://www.garynorth.com/public/department141.cfm

Maybe she is 100% wrong at the Federal level,

but 100% correct at the State level? It is possible. The State bank can't print money or devalue the dollar. And bank profits are used to lower state income and property taxes. What is wrong with that?

What about South Dakota,

What about South Dakota, Nebraska, and Wyoming? These states have very low unemployement but they do not have a state run bank. It all comes down to what you can produce and if there is a high demand for it. Right now minerals, oil, and agriculture are in high demand, therefore boosting their economies.

This would be a start

Yes this would be a start in the right direction. If every state would start their own state bank. All profits would go back to the state to run the government plus the people of that state would be in control. The state bank would tell the people to refinance their loans at 2% with them. Then show how the Fed banks work with all the profit going to the bankster. Also show that once the state bank got big enough some taxes could be done away with....like state income taxes lowing sells taxes. This would bring in billions for the state and put the Fed banks out of business fast! Of course congress would fight this with tooth and nail because most are in bed with the Fed! But it would be a start in the right direction!

This is retarded..this article is by Ellen Brown..

The article praises the Bank of North Dakota..which is a mini-FED for the state.
Completely un-libertarian...

mini-FED? Wrong

They don't print money. They don't devalue the dollar. They return the bank's profits to the people of North Dakota in the form of lower taxes. Have a problem with that?

Not everyone here is a

Not everyone here is a Libertarian. I only share some of their views. This looks like it works, and I am not gonna knock it.

SteveMT's picture

Other states should do the same.

Thanks for posting this story.