Free Lakota Bank – Preliminary Assessment

Posted by GaryL on Tue, 11/25/2008 - 8:43pm in

Economy

With the launch of the Free Lakota Bank, The Free & Independent Nation of Lakota has launched a frontal assault on Wall Street, The Fed, and International Bankers.

Native Americans are historically known for their strong spirit, patience, and stealth, not to mention their very advanced war making strategies. The launch of this banking concept seems to display all of these characteristics in spades.

While The Free & Independent Nation of Lakota’s formal secession from the United States passed last year with little comment or reaction, this latest development will likely raise many eyebrows around the world. Ultimately, official reactions will be based on how individuals and markets respond to the offerings of their bank.

The Free Lakota Bank has well-baited its hook by the sheer elegance of their banking model, some features being

1. Only Gold or Silver Holdings, but with a preliminary period where they will accept Federal Reserve Notes and convert them to metal.

2. Completely Anonymous – No names or Social Security Numbers attached to accounts.

3. Two-Tiered Security – SSL Online username, using a strong keystroke encryption program; followed by an automatic phone call for the user to enter a PIN number.

4. An incredibly inexpensive monthly fee for account maintenance (0.00005 service fee or 5 cents per thousand when calculated at present silver spot).

5. A “General Investment Fund;” which allows a waiver of investors’ maintenance fees and earns a current annual rate of return for the Fund of 7.24%.

6. A lending philosophy that is a blend of classic Muslim banking and the largely unexploited market of “Micro-loans.”

Their model presents on our continent a system not unlike a numbered Swiss account, and with features and benefits that are appealing to both individual and larger, institutional investment vehicles. They offer this investment alternative precisely at the time when investors are under great pressure by economic conditions.

After some due-diligence, it would not be surprising to see large accounts divesting and shifting to The Free Lakota Bank’s “General Investment Fund.” While there may be something of a “who blinks first” dynamic involved, it is likely that once one large fund would make such a move, it would be followed rapidly by many others possibly precipitating a significant Wall Street “event.”

Therein lays the elegance of what this writer perceives to be a carefully set out plan – a well calculated and executed frontal assault, exploiting critical infrastructure vulnerability.

It would be wise to watch developments closely as there is potential of a very strong response from the U.S. Government at the prompting of the Fed and its underlying banking interests. The type and nature of such response could draw some significant lines of demarcation, and prompt decision making modes likely uncomfortable for some.

More to follow -

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