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State Bank Initiative

State Bank Initiative

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Chairman for this Initiative

Marilyn MacGruder Barnewall

Goals for this Initiative

  1. Remove the power of the Federal Reserve System by establishing independent state banks in at least 20 states during calendar year 2012.
  2. Establish profit objectives that have historically been achieved by the only state bank in America, the Bank of North Dakota. The Bank of North Dakota is 93 years old.
    • Unemployment in North Dakota is 3.5% (as of May 2011)
    • In 2010, a year in which most states have negative tax-to-cost statistics, Bank of North Dakota had its greatest excess in the state’s history.
    • North Dakota has created 460,000 jobs the past ten years (approximately the population of Bismarck, that state’s second largest city). The state has realized a 6% increase in population and the jobs have been filled by residents of all states but mostly by those from Montana, Minnesota and South Dakota – but 15,000 remain unfilled (as of July 2011).
    • Over the past ten years, the Bank of North Dakota has paid to the Treasurer of that state $325,000,000. These funds are used to help keep taxes low and program funding (for education, for example) strong.
    • The above achievements result largely from the flexibility of state bank loan policies and regulations. Once banks are no longer dominated by national bank loan policies and regulations they can better serve the needs of local communities. By keeping deposits in the state, rather than sending them to the Federal Reserve System (which places them in money center banks in New York, San Francisco, and Charlotte, NC), states with a state bank can stabilize their economy quickly and with minimum financial upheaval.
  3. Write Expert Witness Testimony to be sent to every Governor in every state in the Union.
    • State legislators need to be educated to the dangers of the Federal Reserve System, the fraudulent behavior of the non-government (private corporation) organization, and the benefits of establishing a state bank.
    • At this moment in time, there is a national group of liberal progressives that supports the concept of state banking. Their view of state banking includes making free credit available to cities, counties and townships… so politicians can keep over-spending. They have a misbegotten theory about “free money.” This group supports the ongoing use of fiat currency and fractional-reserve banking. It is of great importance for legislators to be informed that by bringing the problems that brought down the national system down to the state level, it will also cause failure of state banks. If this group’s objective (since state banks is the strongest alternative to the Federal Reserve System), it must be defeated.

Battle Plan

  1. Provide each Save America public speaker – especially those talking with Tea Party Groups – a copy of a CD of a radio interview that explains state banks. Encourage a positive mention of state banks as an alternative to the Federal Reserve System.
  2. Make sure those speaking about the need for a new currency understand that a new currency requires a new distribution system because the old distribution system, commercial banks, is controlled by the Federal Reserve System (which opposes a new currency for the United States, though may support a new currency controlled by the International Monetary Fund or the North American Union).
  3. Suggest to those talking about the need for a new currency at the state level contact legislators in Utah, Georgia and other states in the process of implementing currency changes to inform them of the critical role state banks play in this process. Without a state-owned system of banking, there is no distribution system in place for a new currency.
  4. Make sure those speaking about state sovereignty understand that to be in compliance with international law, both de jure and de facto status must be achieved. States must first declare sovereignty and then be accepted by others as sovereign. To achieve that, they must 1) have a definable territory under the control of government; and, 2) have a monetary system over which the state has control and which will qualify the state to take part in trade with other states and other nations.
  5. Suggest that those who support state sovereignty contact state legislators who have or will also support it to make sure they understand the only way the state can comply with 2), above, is to implement a state bank.
  6. Write articles about state banks in News With Views, Canada Free Press, and other publications. Encourage Tea Party members to send copies of these articles to their state legislators.
  7. Respond to contacts made by state legislators (already in progress). Help them understand the concept of state banks.
  8. Provide information for state legislators from which legislation can be written and proposed to their state legislature (already in progress).
  9. Be personally available for public speaking engagements on the subject of state banks at least once a month.
  10. Do radio interviews (already in process) designed to educate the public about the tremendous benefits to their state if their legislature passes this important legislation.
  11. When legislation is being passed or voted on, it will be fought very strongly by the national banking system because it removes their advantage and puts independent banks on an even competitive basis with them. The national banking system will spend large amounts of money to oppose the concept of state banks and the only ally legislators who support the concept will have will be independent banks, independent business, and the public at large.
  12. Audit the Federal Reserve System with full disclosure to the People

Patriot Action Team

Individuals who will be committed to carrying out this initiative.

Volunteers Needed