“Tradition means giving votes to the most obscure of all classes, our ancestors. It is the democracy of the dead. Tradition refuses to submit to that arrogant oligarchy who merely happen to be walking around.”

The JAK Bank: Interest Free Full Reserve Banking!

Reblogged from Real Currencies:

The JAK Bank provides us with an important model for interest free saving and lending. It is a fully fledged alternative for interest bearing Full Reserve Banking.

The Swedish JAK Bank is based on a Danish concept from 1931. It started in 1965 and obtained a banking licence in 1997. It's a cooperative bank owned by its members, of which there are about 38,000.

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