The Importance of a State Bank System

The state needs a place to keep its money a depository that it controls. And that is actually a sovereign one because the Fed is not sovereign, the Fed is privately owned. But if I'm a state and I have my tax collections and monies for running my operation in a bank that's a New York Fed bank that through the Fedwire can just suck money out. Exactly. I'm toast. Right? That's another very important reason why every state should have their sovereign state bank. Fortunately we have the bank of North Dakota,. It was created in the 1920s, very rapidly. And it really fared really well through all these disasters. The interesting thing is that it's never