People of Lakota Launch Private Bank for Only Silver and Gold Currencies
Let’s see how long it takes for them to be taken down by IRS under some pretext or another.
Yeah. I hope this goes really far but it’s a step in the right direction.
Here is the problem I have with this. Unless you’re talking hyperinflation, it really doesn’t make sense to trade valuable gold and silver for consumption items. I think we have quite a ways to go before people literally stop accepting USD’s.
Pyramid, thanks for posting this. [:)]
I’m not sure how the treaties are worded, and since the Free Lakota have said they dissolved the treaty or some such…technically they aren’t part of the US. So technically, the IRS can’t do a damned thing, AFAIK.
Sovereignty doesn’t matter as they have the bigger guns.
With the dollar being almost worthless I’d really like to get my money in this bank were something solid is backing it. I’m not sure of all the legal stuff but more and more people are realizing the dangers of a fiat currency and the dangers of the FED.
I’d actually like to see that. I’m sure it would be reminiscent of the Hollywood cowboy/indian movies–only with sympathy on the side of the Lakota. I think it would be a PR nightmare for the federal government, and the IRS/Treasury dept. would have no option but to back off.
The buy in costs are too high though. $40 for one ounce of silver?
If the dollar is worthless, then it makes even more sense to trade it for valuable things like gold, silver, cars, land, etc. Gold and silver are only economic as currency when people WON’T take paper money. Until such time, you should HOARD gold and silver, not use them in exchange.
Isn’t that a one time fee though?
No; it’s a limited-time offer of $40/oz for 1-5oz, $35/oz for 6-10oz, etc.; with a face value of “fifty” (dollars, presumably), which will be the final price…stupid to put a dollar value on it, and $40/oz, or even $14.50/oz (for >500 oz) is just way too expensive.
In the modern age of media spin, fat chance of the Nation not getting turned into a pariah. I’m not saying there wouldn’t be sympathy, but just from my “average Joe” friends on Second life and other online chat services, the attitude tends to be this: Society owns you and the State is the ‘club’ of society, so you better be ‘good’ on Society’s terms or else. And that’s the kind of attitude that has to be fought in such a battle, more so than bombs and tanks.
The best weapon in a PR war is always sunlight.
But even if the government, for the first time in its history, actually respected a treaty with the native american governments, how could this currency be considered legal, despite being in direct violation of Federal Legal tender laws? (especially since they claim the movement it is not a act of secession, thus meaning they still have to obey federal law.)
Of course it’s not secession: the native american tribes have treaties with the US, and the US recognizes them as sovereign nations.
My main question is, how is this bank different than a holding house? I cannot use silver or gold as a means of exchange at Macy’s, Carl’s Jr or wherever. Do the Lakota have a different monetary system?
Sovereign in name only. The US interferes with the Indian tribes whenever and however it chooses. They even reserve the right to judge which groups are Indian tribes.
According to their website you can make private payments to other Lakota bank customers in silver. The utility of this is that you can make payments that are not traceable by the IRS, the FBI, the SEC, or anyone else. The government will find an excuse to shut this operation down. Something like this has to be done off-shore.
What is really needed is a competing system of electronic payments similar to the credit card clearing system. Such a system, based beyond the reach of the US courts and US surveillance, would do more to secure American liberties than all the wars we’ve ever fought.