The Free Lakota Bank, established by the Oglala Lakota on the Pine Ridge Reservation in South Dakota, explicitly rejected the Federal Reserve system and issued these rounds as part of a broader assertion of economic autonomy under treaty rights. The X#1 reference places it in Krause's catalog of non-standard monetary issues — a category that itself signals contested legitimacy.
Whether it ever functioned as a genuine medium of exchange within the reservation economy is unclear from surviving documentation.
The Free Lakota Bank, established by the Oglala Lakota on the Pine Ridge Reservation in South Dakota, explicitly rejected the Federal Reserve system and issued these rounds as part of a broader assertion of economic autonomy under treaty rights. The X#1 reference places it in Krause's catalog of non-standard monetary issues — a category that itself signals contested legitimacy.
Whether it ever functioned as a genuine medium of exchange within the reservation economy is unclear from surviving documentation.