North Dakota: decentralisation in action…

[MTPorcupine3]

http://www.nationofchange.org/north-dakotas-economic-miracle-its-not-oil-1314890992

North Dakota has one thing that no other state has: its own state-owned bank....

The Bank of North Dakota (BND) does not compete with local banks but partners with them, helping with capital and liquidity requirements....

North Dakota's money and banking reserves are being kept within the state and invested there....

States that deposit their revenues and invest their capital in large Wall Street banks are giving this economic opportunity away.

[littlehawk]

Quite interesting. I wonder if it is still somehow affilated with the FRS and if not I wonder if the feds will SWAT-raid it and shut it down.

[Russell Kanning]

I am sure it is connected to the Fed