FLB Asks…What’s in Your Wallet?

Imagine meeting a group of people, all of whom have a strong distrust of America’s modern banking system. Ask the group a simple question: “What’s in your wallet?”

The answer to this question is almost always the same. Some folks have a little cash. Probably none of them have any silver or gold. But chances are excellent that nearly every one of them is carrying a mainstream bank-issued debit card. Even though this group doesn’t want to do business with conventional banks, they still end up grudgingly participating in the system to take advantage of its convenience.

Purists would accuse these people of believing one thing and acting in contradiction. Are people like this lying to themselves, or simply abandoning principle for convenience? At the Free Lakota Bank, we’d like to offer a different perspective.

“Contradictions do not exist. Whenever you think that you are facing a contradiction, check your premises. You will find that one of them is wrong.”

― Ayn Rand, Atlas Shrugged

Banking in the western world has eroded over the last hundred years from being a part of the community to our modern day system of enslavement through debt. In days past, a banker was your business partner, who accepted a risk in return for a fair share of the profit. Banks actually had and managed capital, a combination of their own assets and community deposits. They paid a fair return to the community as interest on these deposits. They made investments based on the integrity of the individual requesting the loan. They created value. They helped create wealth.

Today, almost all banking decisions are made by computers, using an arcane algorithm that fails to consider the market, opportunity or character of the applicant. Low score? Declined, most often without consideration of the errors and omissions in the electronic records. Instead of earning a profit by creating value, the majority of bank revenue is looted through fees and fractional banking. Banks no longer have capital – loans are collateralized through the Federal Reserve system, using a debt-based currency to pass ‘risk’ upstream.

Even with this knowledge, shrugging off the banking system is cumbersome and inconvenient. Yes, it can be done. You can store your wealth entirely in cash, precious metals and other property. You can use a pre-paid card to transact online. You can barter directly with business owners (preferred), or take silver to a pawn shop when you need more cash. It can be done, but requires a lot of planning, time, and even some infrastructure that has yet to be developed. It’s coming, but it’s not quite here yet.

In the meantime, our top priority at the Free Lakota Bank is to provide a system so that you can store your wealth in silver and still take advantage of the global payment network. After all, Visa and MasterCard are accepted at more than 24 million locations worldwide.

Today, we’re proud to introduce a convenient feature to quickly turn your silver demand deposit into “cash”. While the Free Lakota Bank deals exclusively in silver, we recognize that many account holders require fast access to the global payment network. Through our network of partners, we’re able to offer a fee-free service to instantly liquidate Demand Deposit account holdings. Remember, this is not a service of the Free Lakota Bank, but a service offered by a value-add partner.

How it Works:

If you have a bank-issued Visa or MasterCard debit card, you’re ready to go. Thanks to the card payment network’s little-known feature called “Original Credit Transaction”, our partners can place a credit on your bank card in as little as one to three days. No gimmick. No catch. Just fast access to value.

This service is only available to Free Lakota Bank account holders, and a full explanation of costs and procedure can be found in your account management online. This service is a perfect complement to our soon-to-be-launched Merchant Services partnerships, scheduled for release to the public June 15th 2012. Be one of the first to take it for a test drive today, and experience first-hand the power and convenience of Commodity Banking.

The Free Lakota Bank is utilizing existing feature sets of the traditional banking system to suit our own vision and purpose and your demands for convenience. We believe that, by doing business in a new way, we’re able to capitalize on a large percentage of the market that has been ignored by mainstream banks for too long.

Check your premises. You may find that it is possible to deal with men and bank in value while enjoying the convenience afforded through the modern-day infrastructure.

Hoka hey!

FLB Service

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