SOCIALIST BANK IN THE USA
BND is the Bundes-Nachrichten=Dienst..
the german CIA
but it is also
Bank of North Dakota (BND) is the only state-owned bank in the nation.
is not a member of the Federal Depository Insurance
America's Only 'Socialist' Bank Is Thriving ...
based in Bismarck
All state and local government agencies are required to place their funds in the bank. Previously, all public corporations in the state were also required to deposit their funds in the bank, but an initiated measure in 1919 eliminated that
Other entities may also open accounts at the Bank; however, BND offers fewer retail services than other institutions, and has only one office, limiting its competitiveness in consumer banking.
Instead, BND has taken a role more akin to a central bank, and has many functions, such as check clearing, that might be expected from a branch office of the Federal Reserve. The Bank does have an account with the Federal Reserve Bank, but deposits are not insured by the Federal Deposit Insurance Corporation, instead being guaranteed by the general fund of the State of North Dakota itself and the taxpayers of the State.
BND also guarantees student loans (through its Student Loans of North Dakota division), business development loans, and state and municipal bonds.
Though initially conceived by Non-Partisan League populists as a credit union-style institution to free the farmers of the state from predatory lenders, the Bank's functions were largely neutered by the time of its inception by the business-backed Independent Voters Association. The recall of NPL Governor Lynn Frazier effectively ended the initial plan, with BND taking a more conservative central banking role in state finance.
The Bank of North Dakota is the only state-owned facility of its type in the United States other than the Puerto Rico Government Development Bank.
is the second most populous city in North Dakota after Fargo. Its population was 55,532 at the 2000 census.
Before the arrival of white settlers, the region encompassing present-day central North Dakota was inhabited by the Mandan people
In 1873 the Northern Pacific Railway changed the city's name to Bismarck, after the German chancellor Otto von Bismarck, in an effort to attract German investment
Bismarck supports some twenty-seven radio stations. All of the commercial stations are owned by either Clear Channel Communications or Cumulus Media. Many of the lower frequency stations are broadcasters of national Christian radio networks.
18th-century reports about characteristics of Mandan lodges, religion and occasional physical features among tribal members, such as blue and grey eyes along with lighter hair coloring, stirred speculation about the possibility of pre-Columbian European contact.
Mandan may have had pre-Columbian contact with Viking explorers. Controversial interpretations of the Kensington Runestone, found in 1898 in the largely rural township of Solem, Douglas County, Minnesota, have cited the runestone as evidence of Viking presence.
The last full-blood Mandan died in 1971