FREE LAKOTA BANK
Welcome to the Free Lakota Bank The Free Lakota Bank is the world's only non-reserve, non-fractional bank that issues, accepts for deposit, and circulates REAL money: .999 fine silver. All of our demand deposits are liquid, meaning they can be withdrawn at any time in minted rounds.
In 2008, the Free Lakota Bank became the first bank to offer what has now come to be known as Commodity Banking. In this new banking system, value is stored in easy to monetize commodities as opposed to government-issued, controlled, inflated and deflated fiat currencies.
At the Free Lakota Bank, we issue, circulate and accept for deposit only AOCS Approved Silver currencies and other .999 fine silver bullion. Silver is a store of value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Since we deal only in what we consider to be real money, we do not participate in any fractional reserve looting schemes.
The Lakota Indian Nation considers paper money to be the root cause of most injustice in the world. Objective money, currency minted from gold, silver and copper, can't be artificially created and loaned in to circulation. Its high acquisition, refinement and production cost limits the speed at which it enters the marketplace. The very nature of the work required to place it in to circulation helps establish its value in the marketplace. Over many generations, however, the true understanding of what money really is has degraded from "an equivalent of wealth produced" to our present-day "legal tender". Governments today, subservient to international banking conglomerates, inflate paper money supplies, manipulate interest rates, and stimulate circulation of their currency through taxation and force. So long as merchants, business owners and traders are willing to accept and circulate the valueless currency, the world will continue to be plagued with our modern form of slavery. Servitude can only be ended by producers demanding payment for their goods and services in real money.
For many years, the Lakota People have suffered at the hands of our colonial oppressors. What has transpired is in the past and can not be undone. We know it is impossible to go back to our traditional Lakota way of life. In 2008, instead of continuing as the white man’s welfare servants, the Black Hills Treaty Council authorized the Strong Heart Warrior Society to engage a team of experts to launch the Free Lakota Bank and issue our own sovereign currency, minted in partnership with the American Open Currency Standard. Instead of asking for donations and hand-outs, the Lakota people took ownership of our future by exercising our rights as sovereigns and launching a precious metals bank that has since spawned a revolution in the banking industry.
The Free & Independent Lakota Nation is growing at an exceptional rate, thanks in part to our vast natural resources and sovereign business foundation. We welcome you to be a part of our success while you help yourself at the same time. We do not need charity; instead, we seek partnerships with entrepreneurs that would like to enter into profitable business relationships with our Economic Development Council. The Lakota Nation invites you to bring production to our lands to partner with us and create jobs and profitable exports.
For those that would like to positively impact the lives of the Lakota people but do not wish to establish a business on Lakota land, we invite you to participate by establishing a contract with the Free Lakota Bank’s General Development Fund.
When you bank with Lakota, you can expect us to safeguard your property with our lives. We will defend it from theft by looting or force. We will charge you a fee for this service. At the same time, however, by banking with the Free Lakota Bank, you become entitled to access our lucrative General Development Fund. When depositing, you may choose to specify a portion of your deposit to be used in the bank's General Development Fund, the Fund we use to develop profitable free-market enterprise and make standard and micro-loans to free people. The GDF is how you can directly contribute to our success while simultaneously earning a return on your investment.
The Free Lakota Bank presently offers customers two types of deposit accounts: Demand (fee-based) and General Development Fund (fee-free). Each account is denominated and valued to the tenth ounce of .999 fine silver, not dollars or any other currency. It would do you well to begin thinking of silver in ounces, as the real value of an ounce of silver never changes: an ounce of silver is always worth an ounce of silver.
Accounts are valued to the tenth of an ounce, as this is the smallest minted silver unit available at the present moment. All transfers and deposits are credited to the tenth of the ounce.
Our basic account is the Demand Account, which offers the ability to make deposits, send and receive payments from other Free Lakota Bank account holders, and facilitate withdraws. The minimum deposit is 20 ounces unless you already hold a GDF Account contract, if you do not hold a GDF contract, there is a fee of one ounce of silver per month to maintain a Demand Deposit account.
Important Notes Regarding Demand Accounts:
1) Your account is not credited until we receive your deposit. If you are funding your account through an exchange at a partner mint, your account will not be credited until we physically receive the property.
2) If you establish a GDF deposit of 20 ounces of silver or more, the fee to maintain a Demand Account is waived.
General Development Fund:
The General Development Fund is a term agreement between a depositor and the Free Lakota Bank. Each contribution to the General Development Fund represents a specific agreement with the Bank for a particular length of time and rate of return. The minimum contract amount is 20 ounces. Subsequent GDF deposits can be made, however each deposit represents a new contract, term and rate.
The following GDF term lengths and rates are presently available:
12-month GDF contract – 3.25% annual return
24-month GDF contract – 5.25% annual return
36-month GDF contract – 7.25% annual return
Important General Development Fund Information:
1) Please note that all accounting is in ounces of minted Silver. While the “dollar” value of silver may fluctuate, the number of ounces in a GDF contract do not. Interest on your deposit is calculated in ounces of Silver, not dollars. For example, if you deposit 100 ounces in a 12-month GDF contract, you will accumulate 103.25 ounces, rounded down to the nearest tenth of an ounce. At the end of the contract, the “dollar” value may fluctuate up or down; this does not matter to us and is not considered in the valuation of your account. Your deposit is in ounces of metal, which do not fluctuate in “value”.
2) All debits and credits to your account are rounded to a tenth of an ounce. For example, if you deposit 100 ounces in a 12-month GDF contract, your annual return is 3.25 ounces, paid in 4 quarterly deposits of .8 ounces. Considering the rounding factor, your actual annual return is 3.2 ounces in this scenario, but the rounding may or may not affect your interest based on the total size and term of your GDF contract.
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