It has no automatic tellers or drive-up windows, doesn’t issue credit cards, and tends only a few thousand checking and savings accounts. Its only location is a glass, steamboat-shaped headquarters near the Missouri River, where the business moved from its original 1919 home in a former auto assembly plant.
The Bank of North Dakota - the only state-owned bank in the United States - might seem to be a relic. It was the brainchild of a failed flax farmer and one-time Socialist Party organiser during World War I.
But now officials in other states are wondering if it is helping North Dakota sail through the national recession.
Gubernatorial candidates in Florida and Oregon and a Washington legislator are advocating the creation of state-owned banks in those states. A report prepared for a Vermont House committee last month said the idea had “considerable merit”.

The Bank of North Dakota (BND) is a state-owned and -run financial institution based in Bismarck, North Dakota. Under state law the bank is the State of North Dakota doing business as the Bank of North Dakota.
All state and local government agencies are required to place their funds in the bank. Other entities may also open accounts at the Bank; however, BND offers fewer retail services than other institutions, and has only one office, limiting its competitiveness in consumer banking.
Instead, BND has taken a role more akin to a central bank, and has many functions, such as check clearing, that might be expected from a branch office of the Federal Reserve. The Bank does have an account with the Federal Reserve Bank, but deposits are not insured by the Federal Deposit Insurance Corporation, instead being guaranteed by the State of North Dakota itself.
BND also guarantees student loans (through its Student Loans of North Dakota division), business development loans, and state and municipal bonds.
The Bank of North Dakota is the only state-owned facility of its type in the United States other than the Puerto Rico Government Development Bank.

Bank of North Dakota History

During the early 1900's, North Dakota's economy was based on agriculture. Serious in-state problems prevented cohesive efforts in buying and selling crops and financing farm operations. Grain dealers outside the state suppressed grain prices; farm suppliers increased their prices; and interest rates on farm loans climbed.

By 1919, popular consensus wanted state ownership and control of marketing and credit agencies. Thus, the state legislature established Bank of North Dakota and the North Dakota Mill and Elevator Association.

Bank of North Dakota (BND) was charged with the mission of "promoting agriculture, commerce and industry" in North Dakota. It was never intended for BND to compete with or replace existing banks. Instead, Bank of North Dakota was created to partner with other financial institutions and assist them in meeting the needs of the citizens of North Dakota.

BND opened July 28, 1919, with $2 million of capital. Over the years, our fiscal responsibilities to the state have increased dramatically. Today, the Bank operates with more than $230 million in capital. The State of North Dakota began using bank profits in 1945 when money was first transferred into the General Fund. Since that time, capital transfers have become the norm to augment state budgets.

Commercial, farm and secondary market real estate programs were established to benefit state residents and the local financial institutions who serve them. BND’s federal funds program provides an alternative funding source for banks to access additional capital for consumer loans.

In 1967, Bank of North Dakota made the first federally insured student loan in the nation. The Bank continues to provide a variety of loans for students and their families wanting to pursue post-secondary education.

In partnership with more than 100 other North Dakota financial institutions, Bank of North Dakota continues to meet and expand its 90-plus year mission to promote the development of agriculture, commerce and industry in North Dakota.
The deposit base of BND is unique. Its primary deposit base is the State of North Dakota. All state funds and funds of state institutions are deposited with Bank of North Dakota, as required by law. Other deposits are accepted from any source, private citizens to the U.S. government
In contrast to most commercial banks, Bank of North Dakota (BND) is not a member of the Federal Deposit Insurance Corporation (FDIC). North Dakota Century Code 6-09-10 provides that all deposits in Bank of North Dakota are guaranteed by the state.
The state Industrial Commission oversees Bank of North Dakota, as mandated by the 1919 state legislature. Members of the Industrial Commission are the Governor, who acts as chairman, the Attorney General and the Commissioner of Agriculture of the State of North Dakota.
The Bank also has a seven-member Advisory Board appointed by the Governor. The members are knowledgeable in banking and finance. The Advisory Board reviews the Bank's operations and makes recommendations to the Industrial Commission relating to the Bank's management, services, policies and procedures.


Quotations
“There are people capable of and willing to do the work – people who have the skills and the knowledge to achieve these things. Our problems are not caused by a scarcity of people or ideas. There are even organizations who have the skills to hire the people and put them to work. This could all be done. What is missing? Everyone is waiting for money!”
Bernard Lietaer “The Future of Money”

Once we understand money, we will know that we have only credit and not money!
On January 24, 1939, Robert H. Hemphill, credit Manager of the Federal Reserve Bank of Atlanta stated: "If all the bank loans were paid no one would have a bank deposit and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous: if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture the tragic absurdity of our hopeless position is almost incredible, but there it is. It (the banking problem) is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon."
When we understand money, we will know that bubbles and crashes, recessions and depressions are entirely engineered by the banking system through expanding and contracting the money supply.


"When the President signs this act, the invisible government by the money power -- proven to exist by the Monetary Trust Investigation v -- will be legalized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created. "

Congressman Charles A. Lindbergh Sr. , 1913 regarding the powers of the Federal Reserve System

One of our “Movement” planks is Banking reform, specifically, the creation of a State Bank of Vermont patterned after the very successful State Bank of North Dakota,

(www.banknd.com/).

This wholesale bank would be complimented by retail branches of the Common Good Bank (http://commongoodbank.com/home/), established throughout the state, wherever 50 or more people choose to do so. (Visit the website and watch the 7 minute video).

We liken this to the two wheels of a bicycle, operating in harmony with each other.

Quotations:

"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent."

John Kenneth Galbraith

“There can't be too many people or too little work to be done, only a shortage of money with which to pay for it”

Benjamin Franklin

Questions:

• Is the truth evaded and disguised? Is there a deeper mystery?
• Is the monetary system fundamentally flawed? Is there another way to understand money?
• When we understand money, we will know that we, as a society, or community, can have all the money needed to pay for everything we consider worthwhile.
• When we understand money, we will know that money is an accounting system.
• When we understand money, we will know that it is the goods and services that are valuable and not the money. The money represents the valuable goods and services. Money makes them commensurate so that we can exchange them. Money is the means of exchange.
• When we understand money, we will know that there are only natural limits, such as people with a desire to do something, the capability to do it, and the availability of the natural resources with which to do it.
• When we understand money, we will know that any shortage of money is artificial.

03/22/10 #2

Why "Movement"?

This is a true grassroots effort. We're doing things differently. We represent the biggest special interests: YOU!

Instead of a "Race", it's a "Stroll"

Instead of a "Campaign", it's a "Movement"

Get the point?

March 22 2010

Hi, This is Tom Finnell, I am Emily's "movement" manager. This is my money quote of the day:“If you want to feel rich, just count the things you have that money can't buy”

 Emily has begun walking to share the platform and empower our friends and neighbors.

Post # 6 ---2/14/10

Valentines day.  My minister, Barbro Hansen speaks today bout the UU church, and its approach to many of the divisive issues, such as gay marriage, and apparently a number of years ago Bush came out again gay marriage, and the UU church said : We stand on the side of love.  In so far as all thing human can stand on the side of love we need to go there.  I am dedicating my time to demonstrate that in order to stand on the side of love we need to stand out against economic discrimination.  

   What people have got to be clear about is that the very most psychologically imbalanced who hold according their accounting 98% of the wealth have little to do with their time other then to imagine ways to further enslave the masses. I do not use that word lightly and perhaps it ha no place on valentines day - notice the fancy writing.  The responsibility that we as the masses own is why have 98% of the population accepted the accounting methods of the 2 % of the psychotically powerful? 

       More importantly how do we use nonviolence to amend the accounting practices to bring the normalcy of bounty to the  multitudes, and reduce the illness of greed in the very few, and further to reward a generous and loving  citizenry while diminishing hostility ? This is the question I ask and answer as best I can everyday.  Top on my list is the wish to ask everyone to be unwilling to respond to fear as a motivator when it is wielded by any authority.  We have a moral imperative to honor our own truth by refusing to cave in to fear tactics.   I find turning away from news casts, television and newspapers very helpful in the nurturing of courageous stance.  At the very next level, a recognition that the tool of fear is used to carve away at the masses ability to create a fairer life for themselves.  

Fear is useful, to recognize danger, and I recognize danger in the control of the economic future remaining OUT of OUR Statewide control.   Economic warfare is as cruel and as violent as open hostility.  As a soldier of peace, I am called to serve my countrymen,  the masses that I consider myself to one of, and proudly so. My service is to repeat the call to create our own independent banking industry on a local and statewide level, with democratic mechanisms to channel the wealth back into the earthy people, and enrich a garden of fairness, and begin on the path to 1000 years of peace.  

   Happy Valentines day,---- do stand on the side of love, its the right thing  for us all.  

Post # 5

I submitted this letter to the Times Argus and to the Reformer today. Its a beautiful day. I also wrote a 3 page handwritten letter to Matt and will send it too.

I met Matt Dunne yesterday.  I was absolutely taken and delighted with most of his repertoire of plans and ideas, . I like  his understanding of creating a reward based society, his support of hemp industry, his drive to bring VT up to speed with the web. At every level he impressed me with his general ideas to maximize the potential of ideas through competition and reward.    

I hope to clarify to him further the absolute importance of restructuring our banking system.  Were we to do this, we would in effect be seceding from the control of the great banksters. Indeed  all the sovereignty issues of secessionists are addressable  without the need to actually secede. How? Through internal control of credit creation, profit allocation, by the move to incorporate utilization of a local currency and time bank values (to do such things as offer service in lieu of cash money to support the State as a means of taxation), means rebuidling the value within our State.  The Common Good Bank gives us the structure to use local currency within its accounting system in such a manner as to have it interchangeable with regular dollar values.  Not everyone may realize, and they should, that the supply of  money , by that I mean actual currency, is not  created in the same proportion as the availability of credit.  Credit is created at the same time as debt with interest attached.  The fact that the value of the interest is not currency in circulation means that we will only relinquish more of our wealth to the 2% who now control 98% of the world’s wealth. Each and every one of you  should have no doubt that this 2% of the worlds population is not yet satisfied with 98% of the wealth they already control. I will continue to be an independent candidate for Governor until the major candidates get it.    

North Dakota, interestingly, created their bank on the heels of the passage of the Federal Reserve Act ( of 1913),  in 1919.  A hundred years after the second heist on the value of America by this private banking cartel, North Dakota is the only state sitting quite pretty and stable in their little boat of sovereignty.  

Emily Peyton 

Independent Candidate for Governor of Vermont

 PO BOX 821

Putney VT 05346

802 579 5524

Post # 4

           When I think about politics in America, and I know the manipulation the powers play to influence elections, you know, the axiom that reads : He who has the most money wins.  But its the people who have the least who have the most numbers and the most passion for change.   As a woman I am subjected to even greater discriminatin, and belittlement - as if I have to be pretty ( I am not)  to run.  What I want to do is to put the commoners back on the map,  and help heal the illness of  greed that has the very wealthy unable to live with compassion or equality under God.  Our very foundation is shaken by the bewilderment and amazement of the depth of this imbalance. We can’t believe that corporations could possibly take insurance policies out on their own employees without their knowledge and rake in millions whne those employees die and early death, yet pass none onto the family.  THe depravity assualts the senses, So much so that many many of us cannot bear to look at it. WE deny that this could be! Those buildings fell from jet airline fuel fire, steel building pulveried becuase a plane crashed into them.  The truth is simply too unbearable, it is simply too hard to see, and that is why so much keeps on happening.    Too many people cannot fathom the depravity of the mentally ill ultra rich.   

They somehow think that because the ultra rich have 98% of the wealth they will stop there, and be happy with that amount. What a problem ! A very few people rule the world, but that is changing, the tipping point could be turning that around. We have 2012 coming, and the general feeling of some great change coming.  It is so imperative that we visualize that change each one of us individually, and as we do force the power of our will that THAT CHANGE BE FOR THE BETTER.  

I have the knowledge, the insight, and the passion. I am absent of greed, and absent of need for material gain.  I have to overcome so many obstacles, but I must look at them not as obstacles.  For example, I must ignore the closed doors that are everywhere, a small door may lead to a tunnel that comes upsomewhere very influencial.  Alice in Wonderland.  I must say I am not angry at the wrongs of the world, I am instead sad... Greatly saddened that our potential as humans is so challenged, and that we are involved in disrespect of the earth. 

My job is to awaken as many people as possible to the tools of control we have within our reach to level the playing field.  In this day an age the “playong field” is a near vertical cliff, that is the incline that climbers who wish to find prosperity must  ascend.  But life should be much kinder and more enjoyable, and as soon as people understand the power of creating their own fairer banking system they will see it is as important as the wheel, as far as moving life in a better saner, cleaner, fairer direction.

        Thus I am on a path tto see that both the Bank of Vermont modeled after the Bank of Norh Dakota, and the Common Good Bank of Vermont get created and the healing begin!

I don’t know how, other than shere will, persistance and faith that the intelligence will be shared.