State Economic Sovereignty w/ the Only State-Owned Bank in America

October 29th, 2009 by stacyherbert

Stacy Summary:    (h/t Bicyclemark)  You mean we don’t need Wall Street bankers??

The Bank of North Dakota is the only state-owned bank in America—what Republicans might call an idiosyncratic bastion of socialism. It also earned a record profit last year even as its private-sector corollaries lost billions. To be sure, it owes some of its unusual success to North Dakota’s well-insulated economy, which is heavy on agricultural staples and light on housing speculation. But that hasn’t stopped out-of-state politicos from beating a path to chilly Bismarck in search of advice. Could opening state-owned banks across America get us out of the financial crisis? It certainly might help, says Ellen Brown, author of the book, Web of Debt, who writes that the Bank of North Dakota, with its $4 billion under management, has avoided the credit freeze by “creating its own credit, leading the nation in establishing state economic sovereignty.

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  • Democracy now from May 2008…

    Global Crisis of American Capitalism 1/2

    …”Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism”

    Renowned political analyst Kevin Phillips argues successive administrations have imperiled the US economy by a combination of shortsighted policies and a trend against regulation. These include unparalleled credit card debts, the expansion of financial industries such as hedge funds, ballooning national debts, and deliberately altering statistics like inflation and unemployment to mask the accurate picture…..

    http://www.youtube.com/watch?v=7qOBak4KRag&feature=rec-HM-r2

    Nearly 1.5 years ago !
    … and we still haven’t crashed !
    ;-)

  • @Phil:”1.5 yrs ago…and we still haven’t crashed”…that is a curious statement…just maybe this is a manipulation beyond belief;it is hard to perceive an entity that powerful to shift the entire global economic fabric in one breath…but it seems that the continuity of the process is well thought out moving forward at a predestined pace…I know that contradicts everything I learned as a child including phenomenology…..

  • @Youri Carma … Gold back at 1,046

    But tomorrow is Friday = take-down day , normally.
    We’ll see !

    BTW… I still haven’t forgotten the way they falsified the Irish vote ! … the audacity is just mind-boggling !
    OTOH, I suppose it is no different to what is going on in the the US .

  • @Youri Carma … Gold back at 1,046

    But tomorrow is Friday = take-down day , normally.
    We’ll see !

    BTW… I still haven’t forgotten the way they falsified the Irish vote ! … the audacity is just mind-boggling !
    OTOH, I suppose it is no different to what is going on in the the US .

    If you just Google “THE IRISH REFERENDUM OUTCOME IS NULL AND VOID” , the first of the 6000 hits is from worldreports.org .
    Seems a lot of people are really p*ssed off … as well as myself.

  • @Phil: Irish referendum….6000 hits and worldreports.org…
    Are you familiar with Christopher Story?? any opinion to his reputation? I first heard about Wanta from him…yet he now discredits Wanta….also I first read on his site a list of the $1200 trillion in derivatives in June 2007, bank by bank

  • @Richard@lattitude30N … is hard to perceive an entity that powerful to shift the entire global economic fabric in one breath…

    The FED ! … because they run the US$ World Reserve Currency facade/fiat fraud… as you certainly already know.

    We should have “crashed” in 2008 , but the rules ( of real capitalism ) were continually ignored and / or changed to keep the music playing.

    We have all chewed on this .. over and over again !

    So as you stated, it does rather seem that the route is already planned out , and that all the protestor-prominents like Max & Stacy, Gerald Celente, Marc Faber, Alex Jones, Ruppert, Ron Paul, Kucinich, Ralph Nader, Grayson, Catherine Austin-Fitts, Janet Tavakoli, Karl Denninger etc. etc. etc. …. just continue to be ignored !

  • @Richard@lattitude30N … “worldreports.org…
    Are you familiar with Christopher Story??”

    No .. but his story was the first hit I found .

    http://worldreports.org/news/235_the_irish_referendum_outcome_is_null_and_void

    What is “Wanta” ?

  • PS@Richard@lattitude30N

    Did you ever see the film “Rollerball” with James Caan ? .. pretty old, and therefore “good for it’s time” !

    Pacifying the public with games and blood sports to the death ( Rome of course ) … but today isn’t much different when you see the Taboos that have been taken down on TV and Film.

  • Just a thought on the Film 2012 .. coming out in November 2009 !

    I wonder how the Americans will take it ?
    … remember the famous Orson Wells radio broadcast ? … will people believe it is going to be the end of the world ?
    Fear Mongering … reaches it’s climax !

    Of course, 21.12.2012 has nothing to do with the EOW; it’s just another day.

  • Dumbest face mask picture yet.

    Travel restrictions according to the CDC in Saudia Arabia!!!
    http://www.nytimes.com/2009/10/30/world/middleeast/30flu.html?_r=1&hp

    Rumour whispers and it’s full-out tyranny against religion and free expression!

  • @Phil:
    I loved Day After Tomorrow even though it was silly. I adore all disaster movies and can’t wait for 2012. I don’t think Americans are taking anything seriously because they want to avoid thinking about the future right now.

  • @Phil: “Rollerball”…vaguely remember that one…
    “Wanta”..well that’s a long and drawn out tale…something about a covert financial takedown sponsored by Reagan at the time the USSR was disassembled, and Wanta controlled $27 trillion in funds that facilitated the demise of the USSR…and that the money was to be repatriated back to the US @ 35% tax rate or $4.5 trillion to the Treasury…and the players involved prevent the return of the funds …. BUT somehow Mr. Wanta has been maligned and is no longer held in good character by C. Story…
    Through his “portal” I was informed how the European Clearinghouses are hiding trillions of covert and intelligence agency funds that are the backbone of most offshore activity that continues to this day…The DARK POOLS and NUMBERED ACCOUNTS are vehicles for serruptitious transfer of wealth worldwide…continuing the activities of guns, drugs, child slavery and prostitution….

  • @Phil: BTW>>>>what ever happened to the $134.5 b in Treasury bonds and the other $100 b confiscated in Italy…..if those couriers were that loose…well just maybe there are others succeeding in carrying such a trove of paper….FYI:in Scarface Tony Montana tells the Bolivian plantation owner that “we lose 1 out 9 planes of loaded cocaine…they have AWACS, RADAR, NAVY vessels..” so, just maybe the smugglers blues applies to bond smuggling too…..

  • Sorry if previously posted:
    Goldman Sachs & the AIG Contracts
    Ratigan, Spitzer and Greenwald speak truth to power and about how Goldman Sachs made out like bandits. Anybody in the Obama administration listening?

    http://www.goldmansachs666.com/2009/10/goldman-sachs-aig-contracts.html

  • So the fuck what if Alex Jones has to advertise? Who else is going to pay for the info he researches & the shows/videos/etc he broadcasts? Not to mention you can get a lot of his stuff free off youtube. I’d like to see some of you lot get off yer fat arses and do something instead of whingeing about Jones et al.

  • Reserve Bank of Australia on Bribery charges.
    This is our Federal Reserve. Business as usual.

    http://au.biz.yahoo.com/091029/31/29h7h.html

  • “Saudi switch aims for better value for its oil”

    http://www.forexpros.com/news/commodities—futures-news/snap-analysis-saudi-switch-aims-for-better-value-for-its-oil-98838

    “DUBAI, Oct 29 (Reuters) – Saudi Arabia is dropping a U.S. light sweet crude oil benchmark as the basis for pricing its sales to the United States for one more like its own sour crude and that is less swayed by the volatile futures market.”

    I’m curious to know Max’s thoughts on the CME taking over all the markets and the Saudi’s ditching the Nymex WTI benchmark. Theres something afoot here, but I’m not sure what it is just yet. If GoldSucks has high speed trading in the NYSE, imagine whats going on behind the scenes of the Comex/Nymex/Forex/CME stuff.

  • “The report appears to have been inadvertently placed on a publicly accessible computer network, and it was provided to The Washington Post by a source not connected to the congressional investigations. The committee said Thursday night that the document was released by a low-level staffer.”

    “Shortly after 6 p.m. Thursday, the committee chairman, Zoe Lofgren (D-Calif.), interrupted a series of House votes to alert lawmakers about the breach. She cautioned that some of the panel’s activities are preliminary and not a conclusive sign of inappropriate behavior.”

    http://www.washingtonpost.com/wp-dyn/content/article/2009/10/29/AR2009102904597.html

  • WSJ: Russia Delays $1.7 Bln Gold Sale After News Leak http://ow.ly/xq3S

  • New Post: Marc Faber: Dollar Due for a Rebound & Time for Emerging Market Stocks http://bit.ly/2kuwpz

  • Even more Satanic brainwashing from MTV,
    http://www.youtube.com/watch?v=GUfN8gAgLJQ&feature=player_embedded

    These guys are really fucking sick.

  • @Youri

    Sounds like Russia trying to move gold down so they can buy more, a feint.

  • That MTV Christmas promo is awesome! Praise Satan!

  • Ahmed Quraishi, writing about the farce that is H-dog’s stage-managed visit to Pakistan:

    “Merely two days before her arrival, four US ‘diplomats’ were arrested [near Margalla police station in sector F-8] in the Pakistani capital dressed as Afghan Taliban, carrying illegal and unlicensed weapons, and in possession of pictures of sensitive buildings. They were released on the intervention of the Interior Ministry, headed by a close aide of President Zardari. The Ministry is openly accused in the media of not only covering for the US embassy’s illegal actions but also of licensing the operations of private US security firms across Pakistan on an unprecedented scale not seen or known even during the reign of the former pro-US president Musharraf.

    [...] US citizens are unaware, for example, about the strong Pakistani apprehensions that Washington – or some powerful lobbies there – decidedly brought in anti-Pakistan forces into the government in Kabul, and then set them loose on a course of collision with Pakistan, including recruiting, financing and training terrorists to incite an ethnic insurgency in Balochistan exploiting local grievances.

  • West Torpedoes Iran Deal

    I saw this one coming: once the reprocessed uranium reached France it would never have been returned to Iran. Did they really think Iran that stupid?

  • @Tofu Charlie:

    what is described in that paragraph you shared is a proto-typical Hegelian dialectic approach to power. this smells like the early makings of a very large scale military conflict.

    i feel as if there is literally no hope for otherwise. protect your loved ones and the helpless.

  • @Richard@lattitude30N …Wanta .. Thx

  • @The Man from Glad – thanks yes, I will try to get Ellen Brown for OTE

  • ICN Informed Citizen News broadcast Sunday October 25th, 2009. The news you should have heard this week, but didn’t.

    This week’s stories…

    #1 President declares national emergency
    #2 NY forced vaccinations for health workers
    #3 CBS News finds many H1N1 false positives
    #4 Poverty and Food Stamp Rise
    #5 Warren says big banks taking money and writing rules
    #6 The Obama phone: free phones now with 70 mins to welfare recipients
    #7 CIA is buying into private companies that specialize in monitoring Internet social network web sites.
    #8 CIA venture capital arm In-Q-Tel
    #9 Irritating taxes
    #10 Videos of the week
    + This is from 2007, but it shows graphically how things really work in Congress.
    + Dylan Ratigan goes nuts

    http://www.youtube.com/watch?v=KgjoyGjeaUU&feature=sub

  • Yes, the Empire is trying to pit Pakistan against India and India against China. This is transparent to everyone.

  • @bb
    aint got a fat arse…. someone said blooddonors needed… and alex actually gives real blood… what a guy!!!

  • I’d like to see some of you lot get off yer fat arses and do something instead of whingeing about Jones et al.

    @BB:
    Alex Jones is a RADIO SHOW HOST. It is not whingeing to voice different opinions but something called ‘discourse’.

  • This is just like the energy crisis in CA in 1999-2000, in which Enron rigged the energy markets and robbed most Californians of billions. However there were a couple of counties which had state owed power supply, instead of PG&E, and these counties did fine. They weren’t plugged into the markets which are rigged.

    This is a flaw with libertarians like Ron Paul. They fear that gov’t will rule you….but if you get weak gov’t, you just get ruled by corporations instead. You don’t even get to vote for which corporations rule you.

  • “This is a flaw with libertarians like Ron Paul. They fear that gov’t will rule you….but if you get weak gov’t, you just get ruled by corporations instead. You don’t even get to vote for which corporations rule you.”

    @Chris:
    The governments work FOR the corporations which represent elite interest. We get screwed by government into believing that the government represents our interests through an electoral process. The electoral process has been snatched by corporate interest.

  • @Phil: here is a Christopher Story expose…

    http://worldreports.org
    /news/240_german_arrests_mask_major_bush_syndicate_bust

    Is the current indictment of K1 Hedge Fund a Bush Crime Family money laundering scheme exposed????? You decide….

  • What if the ongoing money war between italy and switzerland was for

    the 134 BILLION dollar bond of this summer???

  • @Francis:

    Govt’s surely can be bought out by corporate interests. Many are. But if that were always the case, then North Dakota’s bank & govt would be ripping of f its citizens. Do you really think N. Dakota would be better of without a publicly run bank, and run by GS or JP Morgan?

    Unless you have some way of destroying the power of corporations, (I’m all ears), we’ll still some organization to represent and protect the people’s interest. That’s the reason “governments are instituted among men”.

  • @Chris:
    Yes, I agree with you! The problem is the Fed fingering everything through FDIC controls. I’m not against banks.

  • Everytime the Feds start a fund to protect the people there is the sound of a sucking motor in the background. The whole structure is papered with Treasury ‘bonds’. Ponzi.

  • @Stacy, That would be great. Brown and Keen are prophets in the wilderness. I really appreciated Keen’s interview with Max.

    @Richard@lattitude30N, The Wanta Affair reads like it could have been the inspiration for the back story for Swordfish (2001). Story’s gotten sidetracked by the Snake Hill Principality Scam lately, though.

  • Profits are fleeting. Whether this bank makes money or not is of no significance. It’s the just the government entrenched further in the fraud of fractional reserve lending. Why should we applause a state-owned bank making money, when they’ve done so by usury (i.e. taking North Dakotan’s money through the non-wealth producing item called interest)??? Banks are leeches.