Starting a non-profit bank to facilitate libertarians to move to NH.

[nx20595]

As the title of this thread states, I would like to start a non-profit bank to facilitate libertarians to move to NH, by offering them low interest loans to start businesses, pay for the commute to NH for job interviews, and attend school in NH.  I?m willing to upfront cash to make this happen, however I don?t have enough to do it on my own, so I would need the assistance of other skilled (bankers, lawyers, etc..) individuals to make it happen.  You can contact me at the following address if you are interested.

t o n y. j o h n s o n 2 0 5 9 (at) c o m c a s t . n e t

Hope to hear from you!

[David]

Find a way to maximize privacy, without the feds shutting you down, and I imagine that if you are competitive, you might succeed. 

[Rifkinn]

Hey, I just posted in the business area here about wanting to get a loan for some of those reasons... 

fsp-ohio is right about privacy, I don't want my good old uncle to be nosing his business into my business. 
"You got some money, give me x%"  no....
"You received x amount of money, what do you think you need it for.  Give me some now to pay for services I might or might not let you use down the road." no....

[FTL_Ian]

If you can set up accounts without collecting social security numbers, I'd be very interested in an account.

[error]

If you can set up accounts without collecting social security numbers, I'd be very interested in an account.

I'll second that.

[FTL_Ian]

I'd prefer an account and bank with no ties to the federal government.  Insure my account with some private insurer, not FDIC.

[Gabo]

A few things that would attract freedom lovers to your bank:

-total privacy
-not using SS numbers
-privately insuring the bank
-option for liberty dollar or other private currency accounts

[Ron Helwig]

If it is not tied to the Federal Reserve, then it is not a "bank". The government has commandeered the work "bank" just like they have with "coin". (A coin is a government produced token - i.e. if a government didn't produce it, it isn't a "coin").

I think what you are really talking about is a warehouse, one that takes silver (and/or gold) and treats it as fungible goods. Start thinking in those terms and I think you might have something.

Perhaps use something like the model that NORFED uses, but without the dollar denomination on the rounds (for you purists  ). Issue warehouse receipts for deposited precious metals, with the contract summary and timeline printed on the receipt.

[Michael Fisher]

I would be far more likely to trust someone one of us who have lived in New Hampshire for several years than someone out of state. No offense intended.

[FTL_Ian]

I would be far more likely to trust someone one of us who have lived in New Hampshire for several years than someone out of state. No offense intended.

Seems like an unfair criteria.  If their accounts were insured by a legitimate insurer, say Lloyds of London, I'd have no compunction about depositing lots of money.

[Dreepa]

Actually what I think he wants is something where we all put in $50 bucks or something then if Person X wants to move to NH Person X borrows $1000 to help with moving costs.  Then Person X pays back the $1000 (plus interest) over time so that it could be loaned out to the next mover.  It would be cool if we could get enough together so that we could help people be here for a few months while they look for jobs and/or housing. 

I don't think this is envisioned as making a lot of money but more as a lets take some excuses away and help people move faster.

Of course that is my interpretation.

[Spencer]

Actually what I think he wants is something where we all put in $50 bucks or something then if Person X wants to move to NH Person X borrows $1000 to help with moving costs.  Then Person X pays back the $1000 (plus interest) over time so that it could be loaned out to the next mover.  It would be cool if we could get enough together so that we could help people be here for a few months while they look for jobs and/or housing. 

I don't think this is envisioned as making a lot of money but more as a lets take some excuses away and help people move faster.

Of course that is my interpretation.

Here's a model that you could follow:

http://www.prosper.com/

Prosper, America's first people-to-people lending marketplace, was created to make consumer lending more financially and socially rewarding for everyone.

The way Prosper works is intuitive to people who have used eBay. Instead of listing and bidding on items, people list and bid on loans using Prosper's online auction platform.

People who want to lend set the minimum interest rate they are willing to earn and bid in increments of $50 to $25,000 on loan listings they select. People who lend can easily diversify using "standing orders", which automatically make many small loans to different borrowers.

In addition to criteria commonly used by institutional lenders, such as credit scores, people who lend can consider borrowers' group affiliations. Groups on Prosper are critical to bringing people together for the common goal of borrowing at better rates. Groups earn reputations according to their members' repayment records. Groups with successful repayment histories should attract more lenders offering lower rates.

[Dreepa]

Here's a model that you could follow:

http://www.prosper.com/

that is pretty cool I will have to check it out.

[Braddogg]

If their accounts were insured by a legitimate insurer, say Lloyds of London, I'd have no compunction about depositing lots of money.

What about Lloyd's of New London, CT?

[PowerPenguin]

If you can set up accounts without collecting social security numbers, I'd be very interested in an account.

This is very important. It should be at least partially metals backed as well if possible. A note though is that you can use a regular Fed Res affiliated account in an anonymous way if you Use an invisible New Mexico LLC and a private TaxID#. This way, the account is tied to the company and it's EIN# from the IRS rather than your SSN and personal contact info. Other options exist, and I use several of them myself (both brick-and-mortar and eMetals online banking). My idea, as some of you may recall from several months ago, is to create a "bank" that is really a one-stop-shop/service center for assets stored in multiple private accounts of your choice. This would be legal, and complex/efficient enough to confuse the authorities as long as very little noise is made about it. After all, loose lips sink ships!

BTW, my affiliate code for KeepYourAssets.net (KYA) is "andrew", so please use that if you happen to decide to get on the privacy train while it's still cheap and easy. The longer we wait, the longer all of our sensitive personal financial histories will become, and the longer it will take to get this or any other projects off the ground.

Another thing to include would be to find investment options to grow the funding in addition to those gained by utilizing metals as a base. This needs to also be done privately and intelligently. In order to be a success, which I belive it can be, we need to plug up all the potential security/asset risk holes, and figure out a business model that is both flexible and beneficial to customers, and also profitable (or at least not loss producing) and stable.