Yesterday I posted on separation of banks (and their reform) from non-banking, leaving unsaid whether this would be done by the state or free markets, and I made a point of saying that the ideas were one of many possibilities and not the most far-reaching. Today I have an example of a bank that shows what is possible to evolve in a more free market and also in a panarchic direction (competing non-territorial governments and states). It is the Free Lakota Bank. For the record, I’m not recommending investment in anything. I don’t make investment recommendations. I haven’t examined the pros and cons of this institution in detail. That would be essential before committing funds to this or any institution or cause. Do the research yourself. Certain basic questions of legal form, legal recourse, ownership, and the liability of those who run institutions and those who finance them come up too when considering institutional reforms, and I haven’t addressed them anywhere.
This web site explaining the bank has many interesting features to me. The link is to the accounts section. It has the separation I called for, but via two accounts within one institution, rather than two separate institutions. There is a liquid silver account, 100% reserved. There is a term account, illiquid.
Also of interest are the bank’s statements justifying its existence.
