1. Research Free Lakota Bank

We are looking for trustworthy and honest and honorable financial transaction centers:

  • Conduct all transactions transparently
  • without fraud
  • without deception
  • without fractional reserve banking

First upon discovery we visit the Free Lakota Bank’s Website ~ Ron


A New Standard of Value

“Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion…when you see that in order to produce, you need to obtain permission from men who produce nothing…when you see your laws don’t protect you against them, but protect them against you…when you see corruption being rewarded and honesty becoming a self-sacrifice…you may know that your society is doomed.”
Ayn Rand, Atlas Shrugged

At the Free Lakota Bank, we issue, circulate and accept for deposit only AOCS Approved Silver currencies and other .999 fine silver bullion. Silver is a store of value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Since we deal only in what we consider to be real money, we do not participate in any fractional reserve looting schemes.

The Lakota Indian Nation considers paper money to be the root cause of most injustice in the world. Objective money, currency minted from gold, silver and copper, can’t be artificially created and loaned into circulation. Its high acquisition, refinement and production cost limits the speed at which it enters the marketplace. The very nature of the work required to place it into circulation helps establish its value in the marketplace. Over many generations, however, the true understanding of what money really is has degraded from “an equivalent of wealth produced” to our present-day “legal tender”. Governments today, subservient to international banking conglomerates, inflate paper money supplies, manipulate interest rates, and stimulate circulation of their currency through taxation and force. So long as merchants, business owners and traders are willing to accept and circulate the valueless currency, the world will continue to be plagued with our modern form of slavery. Servitude can only be ended by producers demanding payment for their goods and services in real money.


NOTE the official Press Release from the South Dakota Department of Labor and Regulations ~ Ron

South Dakota Dept Press Release on Free Lakota Bank

March 7, 2013South Dakota Reports on Free Lakota Bank

The Free Lakota Bank has been the subject of a press release by the South Dakota Department of Labor and Regulations.

The sensational announcement, which was carried on the web site of television station KSFY of Sioux Falls, South Dakota, is reprinted here in full:

The South Dakota Department of Labor and Regulations is warning potential Free Lakota Bank customers that the bank is not licensed.

The Department of Labor and Regulation issued a news release Thursday stating Free Lakota Bank is not licensed, chartered or regulated by the Division of Banking. The bank also does not have FDIC insurance.

State Division of Banking Director Bret Afdahl says according to its website www.freelakotabank.com, the customer converts his or her money to silver and deposits the silver bullion with the bank. The bank pays the customer an interest rate in silver, and the customer withdraws his deposit in silver.

If the customer agrees for his deposit to be used in the Free Lakota Bank General Development Fund, the bank will make loans with it. If the customer does not agree, the bank charges a service fee in silver.

State Division of Banking Director Bret Afdahl says the bank lists its address as a post office box in Pine Ridge, but the bank has no physical presence in Pine Ridge.

“We don’t have any reason to believe that there’s anything illegal or unethical going on here. It just raises some red flags that there’s a chance of that and there’s no way to verify that— whether it’s operating in a safe and sound matter or not,” Afdahl said.

There is no publicly available information about the bank other than its website, so Afdahl says there is no other way to investigate the bank.

According to a news release from the Department of Labor and Regulation, the Division of Banking reached out to the Oglala Sioux Tribe and was told Free Lakota Bank is not licensed or connected to the tribe. The Division has also been unable to confirm Free Lakota Bank is a member of the Independent Community Bankers of America, as it claims on its website. A search of the Secretary of State’s corporate database shows no results for Free Lakota Bank.

Afdahl says consumers need to do some additional investigating before making a deposit with a company that isn’t regulated or insured. He says consumers should consider: who reconciles the account statements to the custodial statements and who is doing an independent audit of the institution.

“I encourage people to use caution and do their own due diligence before depositing anything with Free Lakota Bank,” Afdahl said.

We are happy to agree that we are an independent entity and take seriously our commitment to our depositors and partners on and off the reservation.

The Free Lakota Bank enjoys a healthy relationship with its friends and our on-going investment in the Pine Ridge community including the new store beginning construction on the reservation next month. We look forward to the launch of a new sustainability project with community leaders soon to be announced.

We also encourage those who are current account holders with the bank to share your opinions of the bank via the various social forums and web sites such as that of KSFY. You will find the story and comment section here:http://www.ksfy.com/story/21543955/south-dakota-department-of-labor

While we may not spend a great deal of energy or resources to public relations, we will continue to focus on providing our account holders with the state of the art security and privacy they have grown to expect from us over the past four years and we will continue to provide resources to our community partners on the Pine Ridge Reservation.

Pilamaya (Lakota for ‘thank you’).

Free Lakota Bank



Look further on their website we find their minted currency ~ Ron


Lakota Currency

Our first priority at the Free Lakota Bank is to help people convert from paper to units of real value – not representations or promises of value. As awareness grows regarding the fraud that is paper debt money, so does the demand for our silver, gold and copper. Sovereign Members of the Lakota Nation commissioned our currency in partnership with the American Open Currency Standard. We use our currency for private trade within our nation, and also authorize the global sale and exchange of our currency. Lakota currency is available in copper, silver and gold in the following units:

1 Troy Ounce
.999 Fine Silver (Ag)
Currency Value: FIFTY
1 AV Ounce
.999 Fine Copper (Cu)
Currency Value: TWO
1 Troy Ounce
.9999 Fine Gold (Au)
Currency Value: FIVE THOUSAND
1/2 Troy Ounce
.999 Fine Silver (Ag)
Currency Value: TWENTY-FIVE
1/2 AV Ounce
.999 Fine Copper (Cu)
Currency Value: ONE
1/2 Troy Ounce
.9999 Fine Gold (Au)
Currency Value: TWO 1/2 THOUSAND

As the Free Lakota Bank does not traffic in any currency other than Lakota, we invite you instead to access our currency through the network of AOCS Approved Dealers or, for simple currency conversions into deposits at FLB, from our preferred partners at www.LakotaMint.com. Your purchase may be delivered to you or directly to your account at Free Lakota Bank.

It is our goal to provide you with reliable access to investment-grade precious and semi-precious rounds at a fair market price.

When you convert to Lakota silver, you directly support our ability to take back control of our future. Value for Value! However, what matters more than the brand of silver you choose, is that you do in fact choose to become FREE of the fiat paper system by converting to silver today! We encourage you to negotiate the best exchange rate from your national currency to Lakota or any other reputably-minted .999 fine silver.


From the data above I call for further research and a personal contact with a member of the Free Lakota Bank [Rob Gray] because they appear [on more research] to NOT meet our needs.
I Wish everyone success in alternative finance as we stop feeding the Beast. ~ Ron
Addendum: July 18, 2013 A concern is that I have not found a physical address and building for the “Free Lakota Bank”. Additional concerns mount as I have discovered this investigative report from http://dont-tread-on.me/?p=29878
In 2008 Rob solidified the URL for Free Lakota Bank This is even before launching AOCS, Mulligan Mint or any of his other entities.  What made this unique is there was no, and still is no physical location.  It is simply a PO Box, has ZERO to do with the Lakota people, Pine Ridge, or any physical location in South Dakota or any State for that matter.  Simply put, it’s a PO Box in South Dakota that Rob would clear out once a month, take the silver that was sent in, sell it, and live off the money.  ZERO loans are made out of this bank.
Instead of paying depositors interest & making loans to people at a higher rate of interest (simple S & L banking business model) Rob instead would live off depositors money & use other deposits to start his companies, in simple terms an embezzling Ponzi scheme.  No Bank, no loans, no tribe, no safe, no vault, just a guy in front of his computer buying a URL & going up once a month to clear out a PO Box.” Read full report: http://dont-tread-on.me/?p=29878
I have amended my review of “Free Lakota Bank” to reflect these concerns. ~ Ron

Sovereign Economics provides the websites:


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8 comments on “1. Research Free Lakota Bank
  1. […] center in alignment with the emerging paradigm. Please read the first in our Research series: Free Lakota Bank We visit the North Dakota system of “Public Banking” and first stop is the […]


  2. SPECTORMAN says:

    Yes, I have been involved with the Lakota Free Bank since May 22 of 2009. I opened a 3 yr. contract @ 7.25% interest with 100ozs silver. On May 22, 2013 the contract is worth 130.57ozs, it should be noted that for the same 4 years I have a 100oz bar sitting in my safe and last time I looked it is still 100ozs. Since January 1, 2013 the rates are 1yr. 3.25%, 2yr. 4.25% and 3yr. 5.25%. with a 20oz minimum. If you are skittish, you can test the waters with a 20oz 1yr. contract. It is very easy to open an account, this is David Grays number 214-991-1040, he can answer any questions and open an account for you. Since I have been dealing with the FLB, I have never made a withdrawal, today is July 17 2013, on the 20th I will make my first withdrawal, will let you know how it goes.


    • RonMamita says:

      Happy Greetings “SPECTORMAN”,
      your story is very helpful!
      Please keep us informed of any experiences you would like to share.
      I will do likewise in the weeks ahead…

      I have a few questions:
      1. Did you visit FLB’s business location, if so what did you you experience and see?
      2. I noticed that FLB had help from sovereigneconomics.com, however sovereigneconomics.com, has an invalid IP security certificate appears to belong to nexcess.net and wants to redirect traffic to an unsecured domain. have you contacted sovereign economics, if so what was your experience with them and their services/website?
      3. lakotamint.com also use invalid IP certificate and attempts to redirect internet traffic to a different domain; have you browsed their website lakotamint, if so what was your experience?

      To be clear for the information of all readers I have had no problems with the http://www.freelakotabank.com/ website which is where I discovered the information for the above Free Lakota bank report.
      I intend to call FLB and if I must surf their lakota mint website then I will prob use a different computer.
      Thank you for being here!

      Addendum info I must be tired, it is late evening here and I just noticed that All 3 websites have a problem handling secure connections using the secure “https://”. I must have inadvertently not used the “https://” protocol this is a issue that should be addressed by their webmaster for security issues with malware and privacy concerns…


    • RonMamita says:

      Please read my addendum in the report above.
      And visit this webpage with an investigative report independently of my own:
      I do not know for sure if “Free Lakota Bank” is a scam, but Rob Gray has to address these concerns.
      Good luck and keep us informed with your experiences.


  3. RonMamita says:

    I urge all depositors with “Free Lakota Bank” To speak with the founder (ROB GRAY) of “Free Lakota Bank” immediately to address the mounting concerns of his business model for verification of honor and sound business practices.
    This is another report that is unfavorable for the “Free Lakota Bank”.
    “The Oglala Sioux tribe stated publicly that the bank is not licensed to operate within the sovereign boundaries of the Oglala Lakota nation and is not connected with them in any way.”
    Test your precious metals for authenticity and secure it yourself.


    • SPECTORMAN says:

      Here’s the Score, today is Tuesday July 30th 2013, I received the silver I withdrew on Wednesday July 24th., 643ozs. They are all 1oz Crazy Horse rounds, very nice looking. So I can’t say The Free Lakota Bank is a scam. Is Rob Gray a crook, the Jury is still out on that. Is David Gray his brothers minion, don’t know. I do know that a Honest Bank where people can deposit Silver and receive interest is what I think we want. So instead of kvetching, lets get together and create such a Bank.
      Since I seem to be one of only a few depositors willing to share their experiences with the Free Lakota Bank, I wish that everyone reading this blog would “deposit” 20 ounces, the minimum, for a 1 year contract, then we could have some real feed back. A word on deposits, no, I didn’t mail physical ounces to the Bank, I would just call David Gray at 214-991-1040 and depending on the spot price would make the contract. I would then have a day or so to get him the funds and yes it did take a leap of faith that first time. 5 years later not a problem.


      • Sammy Scammie says:

        you sound like a paid troll or one of the scammers (alleged). I guess you are a real spector


  4. RonMamita says:

    A 1st hand (bad) account with Mr. Rob Gray:


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