Author Topic: Free Lakota Bank - anyone have experiance with them?  (Read 3015 times)

Offline USAR-68W

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Free Lakota Bank - anyone have experiance with them?
« on: September 08, 2011, 06:29:48 AM »
Hi All,

I've been listening to Jack for a while and loving it - he helped motivate me to get 100% debt free for the first time in my adult life, and it feels great!

Now though, I've got some cash, and have built my initial emergency fund and decent other preps as apply to my situation.  So, with this money I'm now able to save, I would like to put some of it into silver, but would also like to get a return on that money.  I would love to have my cake and eat it too haha.

Anyway, I found the Free Lakota Bank online, http://freelakotabank.com/ and they look interesting.  Before I put my money into them though, I wanted to know if they were on the up-and-up.  I actually get errors when I try to create an account through their webpage, so I'm loosing faith in them as a viable option.

Can anyone here chime in with what their experiance has been with FLB?  Thanks for any input you can provide!  I understand the inherent risk of not being in direct posession of the silver, and therefore they won't constitute 100% of my investments or savings, but a 3yr contract to get a 7.25% return sounds pretty appealing these days!

Offline Cannon

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Re: Free Lakota Bank - anyone have experiance with them?
« Reply #1 on: September 08, 2011, 07:22:29 AM »
Welcome, USAR-68W!  Congratulations on taking care of your debt!

I do not have direct knowledge of the Free Lakota Bank, but I did attempt to use my Google-Fu skills to help out.

Here's what I've found:

"Appears to be a SCAM" http://www.facebook.com/topic.php?uid=6182469974&topic=5701

" (the official representatives of) Republic of Lakotah does not Endorse this bank" http://www.republicoflakotah.com/2008/free-lakota-bank/

Chris Martenson's Forums also think this isn't Kosher.  http://www.chrismartenson.com/forum/free-lakota-bank/9334

Management... coming soon? http://freelakotabank.com/aboutfreelakotabank_management.php

I'll tell you one thing, it takes a lot of warm, fuzzy, factual evidence to sway me on an investment idea.  Unless that bank comes up with some seriously reference-able information, they've already hit my Three Strikes rule.


Offline USAR-68W

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Re: Free Lakota Bank - anyone have experiance with them?
« Reply #2 on: September 08, 2011, 09:02:26 AM »
Cannon, thanks for your reply!  Your Google-fu is more powerful than my own haha.  Btw, its great to be here, thanks  8)

The Chris Martenson link was especially helpful.  Looks like this isn't secure, open and honest enough for me to place my money into at this time.  Its a shame, because the idea itself sounds great to me.

I guess it pays to remember what they say about things that are too good to be true...

If anyone has some experiance that can endorse FLB, I'd be interested to hear it, but until I hear of some more substantial evidence of sucessful transactions with them, I'll have to hold off.

Offline Nicodemus

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Re: Free Lakota Bank - anyone have experiance with them?
« Reply #3 on: September 09, 2011, 12:43:37 PM »
I don't know about the Free Lakota Bank itself, but I have a number of their AOCS minted Silver 1oz Lakota "Crazy Horse" Rounds. Even though I really don't have any specific reason to buy into the AOCS system as there isn't a whole lot on this side of the country I could use their currency for, I paid more than spot plus when I bought them because they are quite beautiful. They are a work of art.

AOCS is the entity that minted the TSP Copper Rounds so I would think the rounds themselves are on the up and up at least.

As for the bank, I don't know. I don't like the idea of holding my physical silver in a vault halfway across the country where I might not be able to get to it in such an event where I might need it, and I don't like the idea of paying shipping charges to get the coins to me when I want to physically withdraw. I also don't like the idea of them charging me 1oz  of silver per month for them to keep my silver.
« Last Edit: September 09, 2011, 12:50:03 PM by Nicodemus »

Offline USAR-68W

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Re: Free Lakota Bank - anyone have experiance with them?
« Reply #4 on: September 09, 2011, 05:05:53 PM »
Yeah, all good points.  I love my AOCS TSP copper coins, and I'm sure the physical Lacota coins are fine, it's the banking part that I was hesitant about.  I keep hoping someone can endorse it because I love the idea of their contract fund to earn 7.25% interest on silver which itself is growing too....