The following GDF contract term lengths and rates are presently available:
12-month GDF contract -- 3.25% annual return
24-month GDF contract -- 5.25% annual return
36-month GDF contract -- 7.25% annual return
(rates effective 01 January 2014 and may be changed any time without notice)
Note that you commit your account to be locked up, like a CD, for these periods, while the deposit is "at work" being invested in combination with bank assets, in various development projects, which may or may not meet your idea of allowable risk (there doesn't seem to be any say by the depositor over what kinds of projects their money will be invested in).
In fact, I searched several investment-related sites that discuss the FLB, and could not find a single project they sponsor anywhere. As a matter of fact, the Free Lakota Bank does not come up at all on any of them.
Worse still, the whole
bank may be nothing more than a Ponzi scheme by some entity called the
Republic of Lakotah (note the misspelling of Lokota), though this wikipage cites
an unverifiable reference that claims --The
Republic of Lakotah is in NO way associated with the Lakota Free Bank. Caveat
emptor!"
The strong Libertarian bent to their advertisements and promotions will appeal
to anti-government types, but in this case, the enemy of my enemy may still be
my enemy too. Beware!
There are many fine credit unions and other places to invest on Pine Ridge, but the experience of these institutions and micro-lenders shows there is no shortcut to solving the problems of the country's poorest minority. Certainly, trading bullion for bulls$%t won't work.
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