Free Lakota Bank - A good idea but don't trust them

Hi All-

I get a regular e-mail letter from the creator of the Liberty Dollar. He asys the founder of the Free Lakota Bank is not to be trusted and sites many examples so I believe him.

I just thought I'd pass that one bacause I was really excited when I first heard about the Free Lakota Bank and almost thought I might start banking with them. Apparently this guy has stolen minting dies from Chris Duane so be sure to only buy Chris's silver directly from him.

2. Crooked Minter Tarnishing Private Silver Reputation?
Admittedly the story of Rob Gray, his brother David, the American Open Currency Standard (AOCS) and the Mulligan Mint et al the entities is a long, sorry tale. And as it is the duty of all participants in a self regulated industry such as "private minting" to protect their industry from fraud, I sound this alarm and encourage everyone involved with any of the entities listed below to take prudent action to protect their interest and their money:

Free Lakota Bank, AOCS (American Open Currency Standard), Mulligan Mint, SLV Properties (Silver Properties), AG Logistics (Silver Logistics), Coins for the Cause, Silver Bullet Silver Shield (owned by Chris Duane but claimed by Rob Gray), TSP Mint (The Survival Podcast Mint), AOCS Mint, Open Currency, Lakota Exchange, AG Trading post, ICBA: (International Commodity Banking Association) that does not exist. Need another name to keep the ponzi running? Just create another entity or a new organization like the ICBA.

In addition to my own distrust, Rob and David Gray have five principle detractors:

Glenn Tener has known Gray since he was a teenager in Philadelphia when stole his grandmother's credit card, charged over $35,000 on it and never paid it back. Never had any remorse. The executor of Gray's grandmother's estate confirms the credit card story. To this day, Gray's mother does not trust him, why should you? Glenn Tener is available via: [email protected]

Michael Badnarik, presidential candidate for the Libertarian Party, tells a similar story of distrust and fraudulent intent. Michael drove across the country with Gray, helped him find the location for the Mulligan Mint and was fired by Rob just three weeks after relocating to Texas. Michael Badnarik is available via: [email protected]

Gus Demos, was the sales manager at the Mulligan Mint for nine months and quit due to non-payment and legal and business issues at the Mint. Gus Demos is available via: [email protected]

Chris Duane, who created the Silver Bullet, Silver Shield and Freedom Girl medallions and a past customer of the Mulligan Mint, has a blog devoted to the theft of his coining dies, property, commissions on sales and Gray's refusal to resolve Chris' security and order fulfillment issues. His complete, sordid story is available HERE. Chris Duane is available via: [email protected]

BREAKING NEWS: Will Lehr - the Sales Manager for the Mulligan Mint - just quit last Wednesday, June 5, 2013. Will Lehr met Rob Gray at the Silver Summit in October 2012 and started working at the mint in January 2013. And while many business deals seemed questionable to Lehr, he finally quit over moral and legal questions when Gray misappropriated Chris Duane's dies and started selling the Freedom Girl medallion as his own property. Such an inappropriate action seems to be a trademark of Gray's lifelong criminal behavior. Will Lehr is available via: [email protected]

My 39 year experience in the wonderful world of "private minting" dates from September 11, 1974 when I wrote my first economic research paper, "To Know Value" and co-founded the Royal Hawaiian Mint. I was the Mintmaster at RHM for 25 years, without ever a complaint being filed. I retired to put my 23 years of monetary research into practice and introduced the Liberty Dollar on October 1, 1998.

In early 2008, I got a call from Rob Gray who had just discovered the Liberty Dollar and wanted to become the National Currency Director, even though he didn't know anything about the Liberty Dollar. I thanked Gray for his interest, explained the organizational structure to him and told him he needed to become a Liberty Associate (LA) before he could become a Regional Currency Officer (RCO). Gray told me he didn't have the $100 and wanted to become a LA for free. Finally, two months later he got the $100 together and became a LA on March 15, 2008. Immediately, he wanted to become a RCO promising he would be the biggest, most successful RCO ever and asked me to waive the time requirements and let him become a RCO for free! Of course that didn't happen, and in the latter part of 2008 Rob finally became a RCO.

When I publicized my intention to retire after ten years of the Liberty Dollar in 2008, Gray immediately started campaigning for my position. I explained to Gray that he needed more than talk, he needed to become "the biggest, most successful RCO ever" as he had promised and I would consider him for the position of Executive Director, although Gray really pushed for the title of National Currency Director. Ultimately, Gray never proved himself as even a successful RCO plus when I floated his name to be the ED to the 78 other RCOs, I was surprised to find dislike and even open distrust for big talk, little action, Rob Gray.

On January 14, 2009, Gray became the first and only RCO to ever be suspended for questionable business practices. To this day Rob still uses the Liberty Dollar image on his "Introducing the AOCS" page. And on September 20, 2009 he drew on the good name of the Liberty Dollar again by making a comparison between AOCS & Liberty Dollar. Gray also copied my monetary model for the Liberty Dollar and claimed it as his work with total disregard for my work based on 23 years of design and development HERE. Shortly after that insult, Gray bastardized the Liberty Dollar Merchant Decal and infringed on my copyrighted work. On November 30, 2009, a Liberty Dollar attorney ordered Gray to cease and desist, which he reluctantly complied with.

On August 1, 2012 Gray legitimized his true dishonest character by testifying before one of the largest criminal organizations in the country - the US Congress AOCS Goes to Washington. Of course, Ron Paul could not invite a wrongfully convicted felon like me, so he got Gray, a true predator since he was a teenager and stole his grandmother's credit card.

Please check out the links plus this major link that exposes Gray's business affairs and take this sordid tale to heart by protecting yourself from Rob Gray's ponzi Free Lakota Bank, his tarnished AOCS Mint, TPC Mint or whatever he is calling it, before it is too late.

Noa's picture

I'm a subscriber, too.  For me, this article is easier to understand. ~Noa

The Free Lakota Bank Conspiracy Theory

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(Editor’s note: I asked Gus Demos, the former sales director of Mulligan Mint, about what he thinks is really going on with the Free Lakota Bank.  Below is his theory on what he suspects really is going on.  I will be releasing more information about the Free Lakota Bank, but I thought this was a good overview to start with.  I know that this the one subject that Rob Gray does not want to discuss.)

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.

After about a year, the silver was coming in to slow to the bank, so Rob then decided to open AOCS, the beauty of AOCS is it allowed Rob to start taking checks & bank wires.  See AOCS was the official Mint for the Lakota Bank, & the bank claims it “doesn’t touch federal reserve notes”.  Yes, instead Rob gets the Federal Reserve Notes (Your Cash) through AOCS, then from his same computer switches to your Lakota Bank Account & sends you an email saying there is silver in your account.

The silver is never bought, the silver is never minted.  It is simply spending money for David & Rob Gray.  Almost everything is under Davis Gray’s name.  Bank accounts, trusts, entities, etc.  Rob’s past is so bad he can’t get a credit card, open a bank account, or get approved for anything.

This all functioned fairly small time (six figure operation) until sometime in early 2012.  Rob who previously was running the bank, AOCS, & 8 other entities bogus entities had to take a job in the Ionizer business again because he was broke.   Then mysteriously he went from broke & struggling to make his 4 man payroll, to a $250,000 miracle.  A depositor must have came through out of thin air, Rob had landed the Hail Mary he’d been waiting a lifetime for.  Literally within a month 2 period after receiving the victims money he & his family took a 20,000 dollar European cruise vacation (safe to say the depositor doesn’t know) & Rob & David put 150,000 dollars into a new trust they created called SLV PROPERTIES.   The Grays were now had their very own building, strange that they would form an offshore trust to buy a piece of land with depositor money, that would imply fraud, embezzlement, money laundering, & a Ponzi.

In simple terms, Gray & his brother take in wires & checks through AOCS, never buy or mint the silver, vanish the money right away & buy assets under other trusts or entities & then tell depositors they have silver in their account.  The danger in this doesn’t require a Wharton business degree to acknowledge.  Gray now can bankrupt the Free Lakota Bank, & when depositors go to liquidate the banks assets there is nothing there to liquidate.

The deposits grew larger & larger the last year with all the attention that came from Ron Paul, Retail Partners, & affiliates.   Now what you have are not only depositor money being embezzled & laundered, but investor & partner money doing the same.  There is ZERO segregation, only Rob & David know where all the bodies are buried.  Offshore, airplanes, Mansions, cars, motorcycles, etc.   Its going to be a bloodbath with whomever is left holding the bag…..

A Ponzi works until more people exit then enter.  That’s why they last so long, the victims don’t know they are victims, until the end…

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