Free Lakota Bank

Submitted by Bill St. Clair on Tue, 25 Nov 2008 01:10:57 GMT  <== Digital Money ==> 

The Free Lakota Bank "is the world's first non-reserve, non-fractional bank that issues, accepts for deposit, and circulates REAL money...silver and gold. All of our deposits are liquid, meaning they can be withdrawn at any time in minted rounds." You have the option of paying them 0.06% per year (1/20,000 per month) to store your money, or you can loan it to them at 7.24%, for a year at a time. They are currently selling one ounce silver rounds. $14.50 apiece for 500 to 1,000. $40 apiece for 1 to 5. It complies with the American Open Currency Standard (AOCS), so is recognized by merchants who are members. You need only an email address and a password to open an account. They also have a fancy "out-of-band" authentication method that you can choose to use.

From the privacy page:

When you open an account at the Free Lakota Bank, there are 2 specific things we do not want: your name and your social security number. It is not our job to track the movement of our clients' money; we do not want to know who is depositing, where it comes from, or at what rate it enters or leaves our bank. We believe money is anonymous and not subject to tracking.

If you derive your income from preying on the weakness of others, shame on you. Your time on this planet will be short and the great spirit will reward you in kind. If you choose to deposit with the Free Lakota Bank, we will use your money to benefit those with a strong sense of morals and value. Our hope is that your money will not find its way back to you.

I wish them good luck and great success.

Free Lakota Bank Silver Round

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Comments (2):

Can't log in

Submitted by Bill St. Clair on Tue, 25 Nov 2008 03:59:46 GMT

I registered for an account, just to see what it looked like under the covers. I entered my email address, got a registration email with a code, entered the code, entered a password for my account, told them my cell phone number, entered a PIN when they called my cell phone number, entered thresholds for being required to reenter the PIN, then tried to log in. There is no <form> around the Username/Password/Login portion of the home page, and the "Login" button is not a submit element.

I recommend that before you attempt to register that you click the Login button, and ensure that it's actually a button, and that it reports that you entered incorrect username or password. They may just be harvesting email addresses and phone numbers. Or they're not quite ready to go live yet.

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Login now works

Submitted by Bill St. Clair on Tue, 25 Nov 2008 12:07:58 GMT

Apparently, they were just not ready to go live yet. The login page now works, but nothing behind it is implemented yet. And they've shut down currency purchase, apparently due to such a huge demand that Google disabled their payment processing.

I registered yesterday for their newsletter, and received the following this morning:

Date: Tue, 25 Nov 2008 04:26:06 -0500
From: Free Lakota Bank <service@freelakotabank.com>
Subject: Free Lakota Bank...just getting started:

Hoka Hey!

There's only one word to describe what happened today: unbelievable.

I've known deep in my heart that this land is in desperate need of an accountable trade system. I know that the latest financial fraud sponsored by the Federal Reserve will open a lot of eyes to the crisis. But never in a million years did I expect the deluge of support, warm wishes, enrollments and deposits that flooded our systems today. Wow. In fact, there was so much activity that Google disabled our transaction processing, bringing an abrupt but important end to our Initial Currency Offering.

Our office received thousands of emails, voice messages and phone calls over the past 18 hours. We will take the time to personally respond to every request and note in detail. Some of the responses will be sent to the entire group, as these details are important to share with everyone. For example, many people would like to know:

- Why would I specifically want to bank with Lakota?
- What is the AOCS?
- If the bank is located in the middle of nowhere, how can I easily deposit and withdraw?
- Where is Lakota?
- What is the status of Lakota's international recognition?
- How can I join the Lakota people and live free (no property, income or sales tax...)?
- and much, much more!

Each of these important topics will be addressed individually over the next few days to give you full insight to our system and way of life.

In the meantime, a great number of you would like to know how you can access our silver currency at a discount for delivery or deposit. I will send an email later today regarding the "Silver Buyer's Club", a service that aggregates smaller purchases to obtain volume discount rates. It's by far the best way to access AOCS Currency and/or deposit in the bank.

Thank you again for you thoughts and prayers. Many of you have expressed hope that our project does not lose momentum. Well, without saying too much, I will tell you that this is just the tip of the iceberg.

Toksa!

Canupa Gluha Mani
Free Lakota Bank

This message was sent by: Free Lakota Bank, Box 512, Hill City, SD 57745

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