Wednesday, February 15, 2012


For those who want to know more about state banking, go here to watch a speech on this subject for the Save America Foundation given by Mrs. Barnewall.

(Note: The following Resolution was presented to Republican Caucus groups in Colorado Precincts on February 7, 2011, and was overwhelmingly passed by groups to which is was read in full. Other states whose legislators don’t want to do anything about creating legislation that can literally save the financial lives of citizens in an election year can use a similar Resolution and get it passed by the County Party which will then force the State Party to consider it. The time to protest is passed; the time to take meaningful and lawful action has all but passed us by. Marilyn Barnewall)


WHEREAS, the Federal Reserve is a private corporation and though federally chartered, is “federal” in name only; and,

WHEREAS, the United States of America is $15 trillion in debt and counting, with no apparent end in sight and national debt is forcing negative repercussions within the State of Colorado; and,

WHEREAS, the federal government is currently spending $1.50 for every $1.00 of revenue collected which, in essence, renders debt repayment impossible because every dollar that is printed to pay the debt immediately creates 50 cents of more debt; and,

WHEREAS, the Federal Reserve both regulates monetary policy for and profits from the debt of the United States, a severe conflict of interest in eliminating the debt exists;

WHEREAS, the current economic model of “debt capitalism” implemented by the Federal Reserve has caused the only downgrade of the credit rating of the United States in history; and,

WHEREAS, to cover their losses certain of America’s largest banks have become dependent upon perpetual bailouts funded by taxes collected from the America people and owed by the posterity of Colorado residents; and,

WHEREAS, banks chartered by the federal system totally dominate finance in Colorado and should the federal banking system fail so, too, will banks in the state of Colorado fail, causing economic chaos which can be avoided if the state of Colorado creates a State Bank; and,

WHEREAS, the cost of funding the bailout of the “too big to fail” banks, coupled with the cost of funding the United States’ debt obligation, coupled with the cost of funding the operation of both state and federal governments, coupled with a non-payable debt obligation, translate into an unreasonable tax burden on the People of the State of Colorado and their posterity; and,

WHEREAS, the Federal Reserve System’s economic model is causing the transfer of the wealth and property of Colorado Citizens and ongoing reduced tax payments to the State thus damaging legislative efforts to effectively and efficiently manage the demands required to provide good governance; and,

WHEREAS, it appears the labor, property, and wealth of Coloradans is being reduced to provide security for and the servicing of the federal deficit; and,

WHEREAS, the existence and perpetuation of the current, centralized, private-corporate, bank-government relationship is the very definition of fascism in breach of the constitutional guarantee provided in Article IV Section 4 of the Constitution of the United States of a republican form of government; and,

WHEREAS, since 1919 the People of North Dakota have owned and benefited from the successful operation of the Bank of North Dakota, the specific purpose of which has been to provide an in-state repository for the holding, management and distribution of the fees and taxes collected from the operation of the government of North Dakota; and,

WHEREAS, the Bank of North Dakota is limited in its scope and purpose to: administer bank charters and audits, make funds available for state, city and county government operations, to benefit the People and communities of North Dakota, and to provide correspondent banking services for chartered members; and,

WHEREAS, the Bank of North Dakota is prohibited from competing in the private sector with privately-owned banks also operating in North Dakota under state or federal charter; and,

WHEREAS, the People of North Dakota have significantly benefited from the Bank of North Dakota which has paid the state treasurer more than $325 million from bank profits over the past ten years; and,

WHEREAS, the Bank of North Dakota is attributed with being the cause for the North Dakota economy topping the list of state economies year after year, and with being the only State that has had a continuous budget surplus since before the financial crisis of 2008; and while the rest of America has been enduring a recession, the state of North Dakota has enjoyed the largest budget surplus in its history; and

WHEREAS, the Bank of North Dakota is attributed with being the cause why in 2011 the People of North Dakota saw almost $500 million returned to them in income and property tax cuts and will enjoy a 30% decrease in tax liability when combining 2009-2011 tax cuts; and

WHEREAS, the Bank of North Dakota had no bank failures in 2011 and is attributed with being the cause why North Dakota has the lowest foreclosure rate, the lowest credit card default rate, and the lowest unemployment rate of any State (3.3%) in the nation; and,

WHEREAS, Small businesses in the state of Colorado have experienced great difficulties in obtaining necessary capital as a result of the recession that began in 2008 and which results from the monetary policies of the national banking system under the control of the Federal Reserve System; and

WHEREAS, The bank of North Dakota consolidates the handling of all state funds, while in Colorado various economic development and home ownership programs have limited authority, which may be more efficient if consolidated within one agency; now, therefore

BE IT RESOLVED by the (NAME OF COUNTY and STATE)(Republican or Democrat or Libertarian) Party and its members concurring herein:

That the (NAME OF PARTY) Party of (NAME OF COUNTY), Colorado hereby adopts and endorses the following as part of its platform:

That on the November 2012 ballot a proposal be given to Colorado voters to amend the Colorado Constitution by adding a provision authorizing legislation forming and establishing the Bank of Colorado modeled precisely after the Bank of North Dakota, to:

a. Hold in trust for the People of Colorado, any and all profits, fees and taxes collected from the operation of state, county and city governments,

b. Administer those funds collected in the best interest of and in a manner most suitable and beneficial to the People of Colorado;

c. Grant state banking charters to private banks who apply for membership;

d. Act as a lending partner (correspondent bank) for chartered member banks;

e. Make low-cost loan funds available to cities, counties and other communities within Colorado to stimulate positive business growth, new jobs, and projects required to support both growth and community stability and quality of life.

This _____ day of ________________ , 2012


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