Tag Archives: Free Lakota Bank

Free Banking – The Ultimate Solution

11/2/2012 Portland, Oregon – Pop in your mints…

In our recent open letter to Evo Morales, we brought up three principles which must operate together in a society for the greatest amount of material good to come to the greatest possible amount of people.  While most assume that the principles, Liberty, Private Property, and Equality before the law, can only operate via the apparatus of government, we argue that the exact opposite is the case.  By necessity, the operations of government, an ultimate sovereign, would necessarily hinder the operation of these essential principles.

The reasoning is this:  These principles are so important that they must be learned and respected by every member of society.  At the same time, they are so basic to human nature that they are most effectively learned by simply living amongst one’s fellow human beings.  As such, the more a person is exposed to the anarchic environment in which we all ultimately live, the more quickly they will master these essentials.

Free Banking - The key to Liberty
Free Banking – The key to Liberty

The apparatus of Government can only retard the most effective teacher:  Hands on experience.

The recognition of the vacuum of power called Anarchy, which all systems great and small operate under, is extremely important when trying to understand the world as we know it.  However, it is not the focus of today’s Mint.

Today’s Mint is focused on Free banking.  Within our three great principles, Free banking generally fits under the principle of Liberty.  However, as banking and currency circulation, circa 2012 is perhaps the least free area of enterprise, it deserves special consideration as we examine what true freedom consists of.

Important as it is, the concept of Free banking may seem foreign to you, fellow taxpayer, as it is to nearly every other person, great and small, on our beloved earth.

However, the concept of Free Banking is perhaps the most important thing that men today can dedicate themselves to, for it is the lack of Freedom when it comes to currency and credit which has lead to stripping of the earth’s resources and the resulting environmental problems which a number of developing nations suffer from in a disproportionate manner.

Specifically, the suppression of Free Banking has caused the activities of man to create what is an unsustainable imbalance with the demands of the earth’s natural systems.

So what is Free banking?  As the name may suggest to many in the developed world, it is not a lack of monthly charges on a bank account, rather, it is the freedom for banks to compete as issuers of credit and safe keepers of currency in any form.

The Free Lakota Bank - Free Banking in action
The Free Lakota Bank – Free Banking in action

The current slave banking system’s fatal flaw is that it is obligated to issue credit and accept deposits in currencies which are nothing more than debt issued by a Central Bank.  This constraint causes the currency created by the Central Bank to be the basis of all of man’s activities out of a necessity to pay a tax to the government in said currency.

To compound this fatal flaw, the issuing Central Banks actively manipulate the interest rates, which affect the price of the flawed currency and credit, making the value of both the credit and savings of everyone completely subject to the whims of the Central Bank.

If the currency which everyone was working for had been created legitimately by the labor of another man and its price, via the interest rate mechanism, allowed to respond to real supply and demand signals, a natural balance would be struck between credit and savings in society.  This balance would express itself as conservation and eventual increase of the earth’s resources.

However, the currency which everyone is working for is nothing more than a piece of data created by a computer and printed onto a piece of paper and, via the active suppression of the interest rate mechanism, is not allowed to be properly discounted.  As such, all of the labors of man are set towards destroying the earth, turning it into more pieces of paper, and depositing them into a bank in order to close out the credit account created by the computer.

We observed the zeal with which Evo Morales and other revolutionary leaders have implemented reforms by closing down a majority of the ministries of the government almost immediately upon gaining the power to do so.  It is a swift move in which they attempt to consolidate their power.  However, as one studies these cases, they will see that often there was one notable exception that was allowed to continue operating:  The Central Bank.

The Central Bank is often seen as a sacred cow, even by those who vehemently opposite it, on the grounds that the currency and interest rates are too important to day to day life to be to the incapable hands of the people, which is what the concept of Free banking is all about.

However, it is for this very reason, the indispensible role of currency and credit in society, that currency and interest rates CANNOT be left in the hands of any one entity, no matter how much clairvoyance is attributed to them.

No one would argue that grains and fuel are important to everyday life in nearly all the earth.  However, even hard core Marxists would be hard pressed to admit that all peoples would be better off were only one entity given the ability to produce and set the price for either.  As such, it has been proven over and over again that the expansion of the ability to produce such indispensible items not only provides them in sufficient quantities to satisfy demand, it will do so at a price that is more or less tolerable for all (this argument, of course, is null if the price is controlled by a single entity).

While free market proponents are quick to recognize the benefits of the freedom to produce grains, fuels, and healthcare, for example, they become hardcore Marxists when it comes to currency and credit.  What those who fall into this trap fail to realize is that all of the virtues of free markets are worthless if the most basic economic common denominators of currency and credit are not allowed to operate in as nature intended.

Free banking would allow free markets to solve all the problem of scarcity in currency and credit in the most efficient way possible.  Why, then, is Free banking seen as the ultimate boogeyman by those in authority?  It is for one reason and one reason only:

Control of currency and credit represents the ultimate authority in the material world.

While free market reforms can go a long way towards liberating the peoples of the world, the task and to close down the Central Bank and allow both the banks and the people to choose in what currency they will issue credit and maintain their savings.  Far from leading to anarchic chaos, the basic need for exchange and the issuance of credit amongst humans would cause all of society who wished to trade with one another to arrive at a tacit decision as to what is best suited to serve as currency.

While in most cases, this tacit decision has arrived on Gold and Silver, the British and American empires, the most recent examples of empire, grew so wealthy that lesser metals, such as copper, were thrust into use as currency.

As a practical matter, it must be admitted that closing down the Central Bank would be a shock.  For this reason, we look to solutions such as those seen in the actions of Canupa Gluha Mani, the Ithanchan of the Free Lakota Bank, as a path to free banking and the ultimate freedom of the peoples of the world.

The Lakota people declared their freedom from the sovereignty from the Government of the United States government in 2007.  As an important part of this process, they knew that it would be necessary to establish their own monetary system.  Further, they recognized that to simply choose another currency would again make them slaves to the creators of that currency.

To solve this problem, they opened the Free Lakota Bank and adopted what is known as the American Open Currency Standard, which is attempt to return to a balanced system of metallic weights and measures to use as currency which is recognized and traded internationally.

While this may seem now like an impossible step to take, the Peoples of the earth must enjoy free banking if they are to enjoy Liberty, Private Property, and Equality before the law in any meaningful way.  For the lack of options in currencies in favor of the Central Bank’s monopoly on the issue of credit will keep the Peoples of the earth and their governments in the bonds of financial slavery until the Freedom of Banking is restored.

Free banking, by its very nature, does not obligate a people to adopt a currency standard, as the native Lakota people have.  While the most likely outcome of the liberation of the currency and credit markets is for all involved to quickly settle on a new currency standard, it is necessary to guarantee that all Peoples the right to choose which currency they want to hold and to bank in.  This is the only way that man can live in harmony with one another and with the natural world.  This freedom is the spirit of the principle of Free Banking.

Stay tuned and Trust Jesus.

Stay Fresh!

David Mint

Email: davidminteconomics@gmail.com

Key Indicators for November 2, 2012

Copper Price per Lb: $3.48
Oil Price per Barrel:  $84.86
Corn Price per Bushel:  $7.39
10 Yr US Treasury Bond:  1.73%
Gold Price Per Ounce:  $1,677 PERMANENT UNCERTAINTY
MINT Perceived Target Rate*:  0.25%
Unemployment Rate:  7.9%
Inflation Rate (CPI):  0.6%
Dow Jones Industrial Average:  13,093
M1 Monetary Base:  $2,394,100,000,000
M2 Monetary Base:  $10,168,900,000,000

Canupa Gluha Mani – Ithanchan of the Free Lakota Bank on monetary sovereignty

5/16/2012 Portland, Oregon – Pop in your mints…

We first heard about the Free Lakota Bank back in 2008.  From what we understood at the time, it was a bank in the free sense, in that they coined, circulated, and accepted precious metals for deposits.  At the time, it was hard to imagine the importance of the Free Lakota Bank, both from a monetary standpoint and, as we will explore today at The Mint, the standpoint of sovereignty.

We had heard nothing more of the Free Lakota Bank until we received an update yesterday from the Ithanchan (Director) of the Bank, Canupa Gluha Mani.  It gave us some valuable insight into the origins of the Bank and the broader struggle for sovereignty which is occurring in the background as the financial debacle which passes for an economy in the West circa 2012 continues to erode the sovereignty of the nation state.

Before we share the Ithanchan’s words with you, we wish to interject our own analysis of the current state of national sovereignty.  The nation state, as many have come to know it over the past several hundred years, is disintegrating. 

Rather than work to change or hasten the destruction of the failed nation state system, which are the tactics of choice for the majority, we at The Mint advocate that the best course of action is to simply get the heck out of the way.

It is easy enough to recognize that one should leave a burning building when the alarm sounds, and that one should run clear of large structures when the earth begins to shake.  However, when an economy and financial system are simultaneously burning and collapsing, a different course of action is called for.  The action involves declaring your individual and family sovereignty and then seeking to align with other sovereign individuals and family units which hold a similar set of values.

Doug Casey, the famed investor, believes that the world is in the process of aligning itself in “phyles,” which is a Greek word which roughly translates into clans.

Given this hypothesis, events such as the one described by the Ithanchan may become more commonplace as events such as the Greek Euro exit and the MF Global and JPMorgan billion dollar mistakes become the norm.

Now, the communication from the Ithanchan:

“May 15th, 2012

An Important Update from Director Canupa Gluha Mani:

Hoka hey!

My name is Canupa Gluha Mani, and I am the Ithanchan of the Free Lakota Bank, whip-man of the Black Hills Treaty Council, warrior of the Strong Heart Society and a proud member of the Lakota Oyate.

In 2007, my colleagues and I traveled from the Pine Ridge reservation to Washington DC, declaring our sovereignty and independence from the tyranny of your government and more than a century of abuse and ignoring the treaty of Fort Laramie.

Since then, we have undertaken many tasks to gain the support and recognition of the international community. We sent ambassadors across the globe, established our own monetary system, our own bank, we began issuing our own travel documents and most importantly, started generating our very own profit. The Lakota people are no longer slaves to your government.

In 2008 the Lakota people launched the Free Lakota Bank, in accordance with the demands of the treaty council, in partnership with the American Open Currency Standard and with protection from the Strong Heart Warrior Society. The bank quickly became an international sensation. Support poured in from across the globe, and our project was instantly overwhelmed. It has taken more than three years to catch up on the backlog of interest in our groundbreaking financial institution. Though we still have a long way to go, our founding depositors have helped us accomplish amazing results since inception.

Though we are still in the development stage, we can no longer operate quietly. As your governments march steadily toward their own destruction, they cannibalize the citizenry through taxation and regulation.

For example, those of you paying attention may have noticed that, through the work of your government’s Financial Crimes Enforcement Network, private banking is now effectively dead. In the past, US authorities required foreign banks to report directly, and most international banking centers simply ignored the requests. Now, all banks that wish to participate in the Federal Reserve banking system must report account data to their own governments, and with a few remote exceptions, governments simply swap data with each other. Moreover, popular US peer-to-peer payment systems now issue 1099’s for payments received, creating a tax liability for those who wish to transact online. As the government fails, look for the squeeze to continue.

We known how it feels to be treated like this. The basic rights of indigenous people across our lands have been trampled on for years. We were stolen from, forced into colonialism, massacred, cheated and abused in just about every form imaginable. I know first-hand what it’s like to stand up to the federal government. I was there at wounded knee in 1973, firing shots in defense of my people. I wish the people of this country never have to personally witness such an atrocity, but I believe that day may come for you too to draw your line in the sand.

We do not intend to do nothing while your government implodes. In fact, there is great profit to be made providing tools and access for people like you to live a sovereign life. There are many components to sovereignty, but one that I believe to be most important is economic independence. You must have the ability to earn your own profit in an objective form of value, like silver or gold. You must have the ability to easily do business with others that demand payment in the same form. You must have the ability to use objective forms of value to satisfy the needs and desires of your life. The Free Lakota Bank is working diligently to create the network for access to the new economy, built of the mutual exchange of value. 

Over the years, many have asked why Lakota elders chose to start the Free Lakota Bank. The Lakota people are warriors. Warriors can achieve victory. Like Crazy Horse, Sitting Bull, Rain in Your Face and other warriors before them, my elders wish to leave a legacy, a positive impact on turtle island, which you call North America, and the people that inhabit Her.  The Lakota legacy will be to emancipate the people of this land from financial slavery.

I encourage you to join our economic system. Bank with us or other commodity banks and be a part of our success while you create your own. The Free Lakota Bank is the first bank in the world to offer deposits and investment opportunities exclusively in silver, and even pays interest on contract deposits in ounces of metal.

Over the next few months, stay tuned for several important announcements from the Free Lakota Bank. Thank you for your continued support and remember, as the great warrior Crazy Horse said, Hoka Hey! Today is a good day to die!

Canupa Gluha Mani

Free Lakota Bank

While we may never hunt and use every part of the bison, we at The Mint do share the vision of free banking as the key to sovereignty and congratulate the Lakota on the steps they have taken to reclaim their sovereignty.

This also reminds us that we must write a letter to Evo Morales, Bolivia’s President, regarding free banking and its link to sovereignty.  Perhaps holding the Lakota out as an example to him will finally get his attention.

Stay tuned for further sections and Trust Jesus.

Stay Fresh and Hoka Hey!

David Mint

Email: davidminteconomics@gmail.com

Key Indicators for May 16, 2012

Copper Price per Lb: $3.48

Oil Price per Barrel:  $92.83

Corn Price per Bushel:  $6.20

10 Yr US Treasury Bond:  1.77%


Gold Price Per Ounce:  $1,540

MINT Perceived Target Rate*:  0.25% AWAY WE GO!

Unemployment Rate:  8.1%

Inflation Rate (CPI):  0.0%

Dow Jones Industrial Average: 12,599

M1 Monetary Base:  $2,335,600,000,000

M2 Monetary Base:  $9,783,500,000,000