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Native American money and banking

I did a Google search about natives, money, and banking. I was wondering, if natives can operate casinos in states where gambling is illegal, why not banking outside of the dollar? It appears that the Lakota nation and 7-8 nations in confederation with it, are now, independent.

What I've read is, the Lakota nation is not part of the USA. They have a bank with no currency, only gold and silver, emphasis on silver. Natives may be the saviour of us all. The Lakota led by Russel Means, Ron Paul's first opponent for the presidency, in a primary, has said they will share their sovereignty with all Americans of all races. Google it.

Of course, he will not run for president of the USA again, he renounced his US (federal) citizenship.

Check out these websites:

http://en.wikipedia.org/wiki/Lakota_people

https://www.freelakotabank.com/index.asp

http://www.aztlan.net/lakota_nation_secedes.htm



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One Can Hope

Last I heard was that Russell Means does not represent the Lakota Tribe. I am a big fan of his but I don't think this entirely accurate. I wish it was...

indian banking and soveriegnty

I originally posted that, then was doing some searching on the internet on the same subject, and it popped up. I guess I forgot about it. I will be here again, now that I know of it. I'm interested does Ron Paul sees these messages? I wonder what he thinks of it, he probably has knowledge that might be useful. I'm still looking into it. Though, more research is needed before I ever consider acquiring Lakota citizenship. Though, the best thing, for all native nations to do, would be operate similar banks and open it up to US (federal) citizens of all races, to create goodwill among them. I am still going to try to open a 20 oz account in the Free Lakota Bank. Recently I did do more searches on the secession or withdrawall of the Lakota, and found something from Fox News (I'm not a fan of them, btw), but they seem to say it did happen.
I will find out. And if anyone knows more, let us know.

Interesting topic indeed...

Interesting topic indeed...I have to learn more!

http://afp.google.com/article/ALeqM5iVC1KMTOgwiSoMQyT2LwZc9H...

http://www.cbc.ca/news/canada/story/2007/09/13/canada-indige...

http://rapidcityjournal.com/news/local/lakota-group-secedes-...

http://rapidcityjournal.com/news/local/two-tribal-leaders-re...

http://www.dailykos.com/story/2007/12/23/425848/-Lakota-Siou...

Apparently, the group who declared succession, wasn't recognized as the "official" representative group of the Lakota Nation, so it was ignored. I'm really interested in the soundness and security of the bank however. Does anyone know anything else about the Free Lakota Bank?

https://www.freelakotabank.com/accounts.asp

I would just concerned about the Feds confiscating my deposits under color of law.

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I remember reading a few

I remember reading a few years ago when they nullified the treaties (that the feds had ignored anyway), they intended to coin their own money and issue their own passports, as a sovereign nation should. Has this happened?
If they really are sovereign, I am amazed that theres not any info on individuals and corporations relocating and investing there. Or perhaps libertarians trying to escape for some small bit of liberty that still exists in this land.
As it stands my US citizenship is more of a burden than a source of pride. I may consider renouncing it as well.

The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants

if you want to bank outside the dollar

Save silver and gold and use your friends as a credit union, when it gets large enough start an exchange of several friends and see if you can throw an event.... sooner or later I want precious metals markets like farmers markets... that'd be epicness

A true flower can not blossom without sunlight and a true man can not live without love.

bump...

...

"First they ignore you, then they laugh at you, then they attack you, then you win!"
GANDHI

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I revised my comment after reading

Please edit your post (i'm sure it was a mistake) - REVISED

"The Lakota led by Russel Means, Ron Paul's first opponent for the presidency, in a primary..."

I think you meant proponent not opponent.

Also, you look at the wikipedia article, since 2008 there are two lakota groups: Lakota Oyate led by Duane Martin Sr. and Republic of Lakotah led by Russell Means.

Russell Means denies any association with Free Lakota Bank which leads me to assume the freelakotabank.com was chartered by the Lakota Oyate group. If anyone can confirm this then it would be helpful.

Means did promote another bank, Indigenous Bank (I Bank), as the "first National Bank of the Republic." This bank seems to only operate through telephone and PO Box and has no website to speak of. Hence I would think any deposits made to this bank would become illiquid.

This is something I've been watching for a long time.

Russell Means was a firebrand in the 80's. In one of the debates, he responded to his opponent by knocking him out cold. (-:

I'm not exactly sure what to make of him as a man, but being a libertarian and a deeply logical man, despite also being a Hollywood actor, my interest in him is very much piqued.

The Federal Government of the US has officially said that it's perfectly fine and legitimate for the Lakota Nation to do what they're doing, but as soon as they break the law, they have to consider the consequences of being withing a physical territory of the United States and also an enemy of the United States government.

While it sounds like the US Gov't is threatening the Lakotans with war if they don't stay in line, the fact is that all the Lakota nation has to do is -survive-.

This is something everyone should at least get a cursory knowledge of, since there is a small (but plausible) possibility that the US Federal Government could merely decay to obsolescence while the Lakota Nation rises to leadership. In other words, if the ship collides with the shore at just the right time and just the right speed, we may be able to gently "step" onto the Lakota land.

I don't know much about Lakota itself. What I understand of the movement to withdraw from the treaties with the US is also very contradictory, since multiple bodies claim to have the right to withdraw. That said, the body that appears to have authority is declining to withdraw, which is probably a wise decision. If large numbers of people start to show an interest in joining the nation, the BIA membership may find that Russell Means was strategically right in his own action.

This is either going to fizzle out into nothing or expand into one of the greatest things to ever happen to the people who occupy our continent. Either way, I think the best advice is to stay peaceful, learn a lot, and watch carefully.

Michael Nystrom's fists can punch through FUD.

The "sovereign bank" on Indian land back in the 1990s.

Back in the mid 1990s, I was involved with an investment organization called World Network Holdings who sent out a monthly newsletter to members. In one of their newsletters, I remember them talking about an old corporation still in existence that had been given a banking charter which predated the Federal Reserve's creation in 1913. I don't remember all the details, but whoever discovered that old corporation resurrected it and sought to do business with it, by providing banking services outside the FED system, since it had gotten its charter before the Federal Reserve had been created. They sought to implement it on an Indian reservation, under tribal sovereignty. I remember them being unable to conduct transactions with Federal Reserve banks because the FED wouldn't create a routing number for them to use.

Anyway, the FED sure didn't like having any competition, for they saw to it that this "sovereign bank" never went anywhere. If I remember correctly they were raided, all deposited funds were stolen by the government and they forced to shut down as an "unauthorized bank".

If it's the same as what I remember, the bank's name was called First Lenape Nation Bank, located in Anadarko, Oklahoma; and was run by the Delaware tribe of Western Oklahoma. Their intent was to offer Swiss-style banking secrecy to both tribal members and nonmembers. That meant numbered accounts, full nondisclosure of account information, no compliance with snooping law enforcement, protection from civil court judgments (wage garnishments and the like), and no reporting of interest to the IRS or of cash deposits over $10,000 to the Treasury Department.

I thought it was great to see them try to implement that bank back then. But, ever since then it has worried me that anyone attempting to implement an "unapproved" bank, or precious metal storage house, the government will just raid them, seize your funds or metals and keep it for themselves.

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reedr3v's picture

So, what would be the reason to send one's silver

to this bank? For safekeeping as in a safe deposit box in a regular bank? I saw no access to a financial statement; how does the bank earn a profit?

Same concept as traditional non-fractional reserve banking

From what I understand reading through their banking policy, they would take your silver deposit and lend out the deposit as a loan to those they screen that they believe are likely give a return. This was the traditional role of a bank that had savings accounts; that is, to loan out savings that would maximize profits and reduce risk of default for both the banking institution and the savings account holder. The business that receive that loan would presumably exchange it for the capital goods they need or sell the silver to exchange for dollars to buy the capital goods or services required to generate value for the bank and the savings account holder. Of course this differs from the current model where the banks maximize profits and passes losses solely to the account holders or to society (the taxpayer-funded bailouts). So depending on the length you are willing to commit to deposit, you will get a fix rate of return (in ozt of silver). So this may be a good way to arbitrage your silver investment: say you don't foresee selling your silver for more than a year and it is likely you will remain in silver accumulation mode during that time; instead of burying the silver, you can increase your silver savings with a negotiated rate of physical silver return. So that way when you end up selling the silver (because you believe the peak price will occur by the end of your savings contract), not only with you get the higher nominal price of silver in dollars when you sell your silver in the market but you will gain real profits in the increased weight of actual silver returned to you. It seems you can lock in an investment for a higher rate of return as well but you decrease your flexibility to sell if timing the peak of the nominal price for silver was your goal.

Hoka Hey

Thanks for the info.

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