North Dakota has had the nation’s lowest unemployment ever since the economy tanked. What’s its secret?
North Dakota, also has the fastest job growth rate in the country.
The New York Times on August 19th titled “The North Dakota Miracle,” wasn’t about OIL being found. It was about an alternative to the Federal Reserve Cartel.
Access to credit is the enabling factor that has fostered both a boom in oil and record profits from agriculture in North Dakota. The Bank of North Dakota (BND) does not compete with local banks but partners with them, helping with capital and liquidity requirements. It participates in loans, provides guarantees, and acts as a sort of mini-Fed for the state. In 2010, according to the BND’s annual report:
“The Bank provided Secured and Unsecured Federal Fund Lines to 95 financial institutions with combined lines of over $318 million for 2010. Federal Fund sales averaged over $13 million per day, peaking at $36 million in June.”
The BND also has a loan program called Flex PACE, which allows a local community to provide assistance to borrowers in areas of jobs retention, technology creation, retail, small business, and essential community services.
OK, it is well reported and easy to research (for those that are interested about economic and financial theory) that alternatives exist to interest (debt-based) bearing currency and financing. In other words abolishing the private corporate control central banking system controlling the world today.
Roll up your sleves and read on…
Are you free?
Are you sure?
Please, tell us why.