Bank of North Dakota
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- เผยแพร่เมื่อ 23 ม.ค. 2011
- Chronicles the Bank of North Dakota's fascinating history and reviews its key role in financing the state's economic future.
During the early 1900s, North Dakota's economy was dangerously dependent on a single industry-agriculture, an industry controlled by financial interests outside the state. To diversify the economy and regain control of its financial future, North Dakota created a unique asset: the state-owned Bank of North Dakota. North Dakota is the only state in the union with a state-owned bank. The program documents the rise of the Non-Partisan League and its struggle to overthrow the out of state interests that controlled the North Dakota economy and chronicles the political infighting, the dirty tricks, the back room deals, and the amazing series of events that led to the creation of the bank.
"The Bank of North Dakota" features historians, economists, bank staff members and members of the Industrial Commission discussing how the bank came into existence, how it has responded over the years to its mission, and its evolving role in promoting commerce, agriculture and industry.
Every state in the United States should have their OWN bank...
Initially they did, though unfortunately most of them ended up getting privatized.
Many other states have tried North Dakota is the only one that managed to succeed with one.
It's one of the few reasons North Dakota wasn't in the hurt bag like everybody else when the economy crashed back in 08
I live in Mandan. I got my student loan from BND. I think most college students do. I got an oil change last summer. I shared a courtesy car with a man back to work from the garage. We shared small talk. After the man was dropped off, the driver of the courtesy van asked me, do you know who that was? I said no. He said that was the president of the BND. I thought, wow, that guy acted just like a regular guy. That's pretty cool.
One of the most beautiful institutions anywhere on earth.
Bravo to BND anything that demonstrates we do not need the greed of wall street deserves our support
They have done great but they are still using fiat currency, backed by NOTHING! if the US' illegal banking system fails (The Fed Reserve), so would BND.
@@nub9688 it's not backed by nothing. The money is backed by the U.S. military. Sale oil or gold in some other currency at your own risk.
Napoleon pointed out: "Terrorism, War & Bankruptcy are caused by the privatization of money, issued as a debt and compounded by interest "- he cancelled debt and interest in France - hence the Battle of Waterloo.
I agree that every state should have a public bank but we do not need a gold standard Phil!
I'm going to look into this. Thanks for uploading.
This needs VIEWS!!!!!!!!!!!
The experience with public banks in Brazil were successful at the national level but at the state level there was so much corruption that most of them had to be shut down. They ended up lending to friends of the regimes and often to shell companies thatnthen moved the funds to other shells and then often went bankrupt. I think that public banks can do a lot of good but oversight and governance are critical issues.
Yeah that's right
This is how a Bank should be in every state in this country maybe even the world why don't Congress Pass a Bill for a State Bank Act for every state in this country!
Darryl Jackson, greed and corruption!
The Federal reserve wich is a private(fake I'll rob you blind your money is my money)entity would block it and probably kill a few in the process
Hi friends: We have our own public bank in Canada, but from orders from the Bank of International Settlements in 1974, we stopped using it. From 1935 until 1974, our public debt was low and stable, since it has soared. Check out lawsuit (Dec.2011) against the BOC press conference. Lawsuit is pending..big banks and federal government are resisting. Find at "Lawsuit against the BOC" on TH-cam. Also, see Committee on Monetary and Economic Reform website here in Canada.
it ha seen been dismissed outright
this needs 22 million views
Agreed
I visited the Bank of North Dakoda last week it’s a great institution that every state should have along with the Gold Standard.
The gold standard will not save us. A debt free currency will but backing a currency with gold is not the answer. I can still manipulate the price of gold thereby manipulating the value of any currency it backs. US Notes all the way.
@@thezfunkexactly, I used to advocate for a gold standard but I know the truth now.
We need to educate the rest.
thanks to this State Bank, Nth Dakota is doing well even as the rest of America is suffering....
RIP Eugene V. Debs
Its a good buffer to cycle cash inside the state
Fascinating story, thank you.
The Non-Partisan League! Please compare to George Washington's Farewell Address, specifically paragraphs 19 to 25. Look for the word "baneful."
North Dakota is like the shire. and we are like hobbits.
we aren't power-hungry people and you can't fool us with your fancy credit default swaps and all that crap.
Fool or explain lol
This sounded to me more like capitalism than socialism. After all theyre working for profit(be it minimal profit) and theyre not central planning. Theyre letting the individuals come to them. Hayek used to talk about the information problem. That it was impossible to have a central athority know all the information. That local knowledge matters. And by keeping profits in the system they know who does and doesnt serve the community as a whole.
And money should be used to grease the wheels only
NicosMind, socialism doesn't say there should be no profit, it tries to spread the wealth to help the majority rather than the few shareholders that have no personal interest in the company.
socialism also doesn't mean "central planning"
These are social democratic principles.
I don't th8nk ideology really matters and good monetary policy matters more but if i were to set a sweet spot it would be a mixed economy incorporating aspects of free market capitalism to help smaller businesses and social democracy to spread access to credit facilities like North Dakota has done.
I have shared this info with many in Az, but seems that they would rather brown nose the establishment, cuz its not about the people here in Az ,.. politicians its a;ll about them
Too bad more states don't do this it would work against that evil fed reserve, I would like to have an account there, maybe even move to ND
Los Angeles voted for public banking but I think it got blocked not sure by who but I would bet by private banks
How is this bank doing in 2019?
ilsr.org/rule/bank-of-north-dakota-2/
Still going strong in 2023.
is this an insight for the rest of us?///
Wow what an interesting History Of North Dakota !! To think What these Farmers Went VIEWING THIS VIDEO back In The 1920 through 1940 . Those were Real Men that New what IT TOOK TO MAKE IT HAPPEN ..IF ONLY WE COULD LEARN FROM NORTH DAKOTA GOVERNMENT !! WE MIGHT FIGURE OUT HOW TO TRY AND TURN OUR COUNTRY AROUND >> IF THAT IS EVEN POSSIBLE !!
California is trying to create a state bank of it's own. If you're a concerned citizen in California, then join our movement!
$100,000 S, W Ji
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