Since the Fed does not recognize losses, the loss of $16 billion (earned $59 billion but remitted $76 billion) was capitalized as a deferred asset. One of my favorite aspects of the job as U.S. Attorney is that I get to work side-by-side with our federal, state, and local law enforcement partners every day. In this way, the old police motto to "protect and serve" has become "comply or die.". But at the end of last year, Russia's military commanders said they could no longer supply troops in the city and the west bank of the Dnipro River that it sits on. Back in2008, an Army War Collegereport revealed that widespread civil violence inside the United States would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security. The 44-page report went on to warn that potential causes for such civil unrest could include another terrorist attack, unforeseen economic collapse,loss of functioning political and legal order, purposeful domestic resistance or insurgency, pervasive public health emergencies, and catastrophic natural and human disasters.. For example, lets say the US dollar sinks to 40 percent of all foreign reserves and is only used in one-third of all international trade invoicesinstead ofone-half, as is now the case. That global reserve currency status benefits the regime itself is obvious. As of 2014, 27 states had a mandatory duty to warn statue and nine other states allow mental health professionals to break privilege to warn possible victims. Yet, it not the end of reserve currency status that is to blame for the inflationist pain. The Mississippi sales tax on gold and silver had been discouraged citizens fromprotecting their savings against the devaluation of the dollar or driving them to look for out-of-state options. Try us and go ad-free for $1. We favor individual freedom, honest history, and international peace, in the tradition of Ludwig vonMisesand Murray N.Rothbard. In their dissenting opinion, Justices John Paul Stevens and Ruth Bader Ginsburg said, "it is clear that the elimination of police discretion was integral to Colorado and its fellow states' solution to the problem of underenforcement in domestic violence cases." In 2009, reports by the Department of Homeland Security surfaced that labelledright-wing and left-wing activists and military veteransas extremists (a.k.a. These measures would end taxes on the metals, reaffirm gold and silver as money, establish in-state depositories, enable State Treasurers to invest state funds in the metals, and more. In the real world, however, the plot thickens and spreads out over the past half century. After all, even after the pound sterling lost its status as reserve currency in the 1930s, it did not disappear. At this point, however, how wefeel about it is irrelevant. But the war in Ukraine offers a window into what conscription looks like in today's day and age. This, however, can only continue until the dollar's reserve status ends or even significantly weakens. By 2009 over $1 trillion was held there, and in 2021 over $4 trillion. In other words, you can be outraged that cops in Florida did nothing to stop the school shooter, but technically, it wasnt part of their job description. However, it has become increasingly clear that in far too many police forces those words have been twisted beyond recognition. The sight of police clad in body armor and gas masks, wielding semiautomatic rifles and escorting an armored vehicle through a crowded street, a scene likened to a military patrol through a hostile city, no longer causes alarm among the general populace. The Fed continues to place fault on the banking sector, as explained: Given their assessment of the potential economic effects of the recent banking-sector developments, the staffs projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years. Period. However, a similar lawsuit against the school cop, Scot Peterson, for staying outside while the shooter killed 17 people in the school is proceeding to trial and has survived multiple motions to dismiss. None of this, however, improvesthe standard of living of Americans who pay the bills. Specie is defined as Coin having gold or silver content; or refined gold or silver bullion that is coined, stamped, or imprinted with its weight and purity; and valued primarily based on its metal content not its form., The measure continues, Specie or legal tender shall not be characterized as personal property for taxation or regulatory purposes., To remove any doubt of the legislatures intent, HB 1718 explicitly states, the exchange of one type or form of legal tender for another type or form of legal tender shall not give rise to any tax liability, and, the purchase, sale, or exchange of any type or form of specie shall not give rise to any tax liability.. The motto, "To Protect and Serve," first coined by the Los Angeles Police Department in the 1950s, has been widely copied by police departments everywhere. Cops have no specific legal duty to individuals. And so, its probably time to consider putting an end to this nearly two-decade long experiment of transferring wealth from the poor and middle class to the rich and powerful. Elizabeth Warrens Bureau of Consumer Financial Protection had another stellar year, bringing in $722 million from the Fed; impressive it gets its own line item! States all over the country are waking up to the precarious condition of Americas money. While the shooter was inside two adjoining classrooms, 19 law enforcement officers stood outside for nearly an hour as they waited for tactical equipment to arrive. "To protect and to serve" has become one of the most recognizable phrases in law enforcement.. Now Gun Controllers Want to Give Police. It has never been painted on most p. A large part of this money has gone into fighting endless wars on terror, drugs, and poverty. InvalidArguments 12 yr. ago You can't blame police for crimes they don't stop. Less than a year later, the new Western-backed Ukrainian government. The Russian government has claimed conscripted soldiers are only being sent to replace volunteer soldiers in their posts, with the volunteer soldiers then sent to the front in Ukraine, but some havedisputedthis. more than half of which were women and children, plans for a military parade on Veterans Day, loss of functioning political and legal order, right-wing and left-wing activists and military veterans, government has been amassing an arsenal of military weapons for use domestically, 120,000 armed federal agents carrying such weapons, Two Decades and $90 Billion US Dollars Later: Dissecting The Afghan Militarys Total Collapse, Iran International: Inside the Saudi-Funded Network Promoting Regime Change in Iran, From Georgetown to Langley: The Controversial Connection Between a Prestigious University and the CIA, Dare Call It A Coup? And while young American men are still forced to register with the Selective Service, we have been fortunate to go without a draft for half a century, despite Washington's hyper-aggressive January 27th of this year marked fifty years since the draft was officially suspended in the United States. Ford has long established itself as a trusted automaker for police vehicles and provides about two-thirds of police vehicles in the U.S., according to the Free Press. In a truly free market, a bank would have the ability to either lend money or keep it on reserve as there would be no central bank to offer a third choice. The "shopcam" recordings seen on The Rookie are an invention for that show. Following last February's shooting at Marjory Stoneman Douglas High School in Parkland, Florida, some students claimed local government officials were at fault for failing to provide protection to students. All rights reserved. Related bills to restore sound,constitutional money have also been introduced this year inAlaska, Iowa, West Virginia,South Carolina,Missouri,Minnesota,Tennessee, Montana, Idaho, Wyoming, Kansas, and more. And we no longer live in a constitutional republic. At the same time, conscription appears to have been implemented as a new form of punishment. Nonetheless, Total operating expenses amounted to $9 billion, meaning that administration consumed around 5% of the Feds revenue. Unfortunately, last month gave the world a glimpse of what is to come inthe next recovery. Its a short hop, skip and a jump from the police state were operating under right now to a full-blown totalitarian regime ruled with the iron fist of martial law. "Our bill will help protect police by increasing penalties for the criminals who target them." The Protect and Serve Act would support law enforcement officers by: Making it a federal crime to knowingly cause, or attempt to cause, serious bodily injury to a law enforcement officer. This rush for US debt pushes down the interest rate at which the US government must pay on its enormous $30 trillion debt. And even though the program is all set to fire right back up with a word from the president, there's a sense that the draft is an issue from a different era. Eventually, the Border Patrol team got a janitor to unlock the classroom door. You will notice police cars no longer say, "Protect and serve." They neither protect, nor do they serve. Therapists can notify the police or the intended victim to discharge this duty. But what does it mean to say the Fed owns (rounding down) $8 trillion in UST and MBS? Police do not need guns. When this $2 trillion is contrasted against the M2 money supply of $21 trillion, its safe to say that our money has never been in the bank. It reads: On a weekly basis, if earnings become less than the costs of operations, payment of dividends, and reservation of an amount necessary to maintain the aggregate surplus limitation, the Reserve Banks suspend weekly remittances to the Treasury and record a deferred asset. . Mustthey risk their lives in dangerous situations like the one in Uvalde? Then they took down the shooter. As for the balance sheet, readers should be familiar with the chart, as of yesterdays release it stood at $8.593 billion, per below: Further details are on page 6 of the financial statements, showing a year-end 2022 balance sheet, only four months ago, of $8.569 billion. Often, discussion about the dollars reserve status creates a false dichotomy between total domination of the global monetary system on one hand and complete abandonment of the dollar on the other. Calling the response "100% flawed," Thor Eells,executive director of the National Tactical Officers Association, said, "If you're in a classroom with innocent victims and I know that shots have been fired, I need to engage you.". standing a certain way, or moving a certain way, or holding somethinganythingthat police could misinterpret to be a gun, police have no constitutional duty to protect members of the public from harm, Military Spending Is Already Bankrupting America, Americas Dirty Little Secret: Sex Trafficking of Young Girls, The State of Our Union: A House Divided, Enslaved & Mired in the Mistakes of the Past, Jesus Stood Up To The Roman Empire And Hed Resist US Empire Today, every situation as a deadly force encounter in the making, concerted effort to expand the police states power, Too often they appear to mean, to protect officers and serve the police force., even questioning police behavior is decried as disloyal, un-American, and dangerous. The Arkansas Legal Tender Act, introduced by Reps. Lundstrum (R - 18) and Sen. Dismang (R - 18), passed overwhelmingly out of the House by a vote of 82-8, passed unanimously out of the Senate with a 32-0 vote, and ultimately received Governor Sarah Huckabee Sanders signature on April 11. Make a one-time contribution to Alternet All Access, Epson, you earn a gold star. And we know it took an hour and 20 minutes for police to kill the shooter and stop the rampage. The law doesn't require cops to protect the public. Men are being stopped in the street and questioned about their draft status. They are there to generate revenue for their towns and states. In its 1989 decision inDeShaney v. Winnebago County Department of Social Services, the justices ruled that a social services department had no duty to protect a young boy from his abusive father. For years now, weve been told that cops need military weapons to wage the governments wars on drugs, crime and terror. Lending programs like the Paycheck Protection Program, and all the other bank assistance schemes, appear more suspect when we remind ourselves that the banks had trillions of dollars earning interest at the Fed this entire time. The Russian government has claimed conscripted soldiers are only being sent to replace volunteer soldiers in their posts, with the volunteer soldiers then sent to the front in Ukraine, but some have. As deficit spendingincreases, the economy is flooded with ever larger amounts of government debt backed up by tax dollars. And never forget that $5 trillion was required to fix the last crisis; theyve given us nothing to believe that next time will be different. Understandably so, considering that if taxpayers own gold or silver to protect themselves against the devaluation of Americas paper currency, thanks to the inflationary practices of the Federal Reserve, they frequently end up with a nominal gain when exchanging those metals back into dollars. At FindLaw.com, we pride ourselves on being the number one source of free legal information and resources on the web. Together, this creates a sense of invincibility and righteousness among the police that is used to justify even outrageous behavior while simultaneously creating the perception among the public that the police are untouchable. Its almost as if the Fed only makes money when it expands its balance sheet, meaning the only way out of this is to inflate the money supply. None of those things is going to happen without first experiencing a wakeup call on the level of losing currency reserve status. Yes, policing is dangerous but it is far from the most dangerous job in the country. So when police in Florida had to deal with a 19-year-old embarking on a shooting rampage insideMarjory Stoneman Douglas High Schoolin Parkland, Fla., what did they do? Justices said the police had no such duty. However, such gains are not necessarily a real in terms of translating to an actual increase in purchasing power. Nearly 20 officers waited in the hallway outside the classroom in which the shooter was killing students and teachers. The words define the mission of the police, which is to protect citizens and serve the public. Yet the government nevertheless assesses a tax. CNBC absolves themselves by citing that this was said in the Fed minutes, yet it does raise some interesting considerations, the idea that the upcoming recession will be due to a banking crisis. Additionally, in Uvalde, police began to rescue students and then stopped. Police have a legal obligation to stop crime. As one commentator remarked, Protect and Serve are the words we see on the side of many police cars and is the motto of most police forces. While we cant expect social workers to be psychic, in this case there were repeated police and social services reports of child abuse that only resulted in more social worker visits to report more child abuse. Visit our attorney directory to find a lawyer near you who can help. But theres more to it than that. It offers other insurance plans, a thrift plan, alternative work arrangements, transportation subsidy, academic assistance, leave (which appears to be granted when you work too many hours), paid parental leave, and career development. Cursing Out Police Is Perfectly Legal, But Cops Routinely Arrest , 'Whenever this is done': Uvalde police chief refusing to explain why , Qualified immunity is rooted in white supremacy and gives cops a , The Supreme Court Gives Police a Green Light to 'Shoot First and , Police Have No Duty to Protect the Public - The American Prospect , Supreme Court makes it easier to sue the police for malicious . Trump and Kudlow, however, are not troubled by this. has been to transition to a digital platform. Assist in high visibility policing to reassure the public and enhance potential deterrent benefits. There were four armed police officers, including one cop who was assigned to the school as a resource officer, on campus during that shooting. The reality is likely that closer to 80% of the employees only make around $100,000 while the remaining 20% make a lot more. But criminal charges against police officers who fail to protect the public areextremely rare. This isn't about protecting your wealth or reining in government power. The first advantage is reserve currency status brings a greater global demand for dollars. That means higher interest rates for the US government and less of an ability to finance the welfare-warfare state by inflating the currency. "Neither the Constitution, nor state law, impose a general duty upon police officers or other governmental officials to protect individual persons from harm even when they know the harm will occur," said Darren L. Hutchinson, a professor and associate dean at the University of Florida School of Law. The purpose of this universal language of assistance is to: Enhance officer and public safety by reducing the likelihood of road accidents. People need guns. Most of the money the Fed creates is used to buy assets, which typically means buying debt. The benefits beyond the standard salary and pension are numerous. Only $446 billion was held in the Treasurys general account. This $8 trillion manifests itself as an increase to the money supply since money must go somewhere and is always held by someone. Top Photo |Police ride on an armored vehicle through Baltimore streets following protests which occurred after the funeral of Freddie Gray, who was killed by police. Welcome to the American police state, funded by Corporate America, policed by the military industrial complex, and empowered by politicians whose primary purpose is to remain in office. Dividing this figure by 23,000 people equals around $304,000 per employee. Perhaps more importantly, a world less awash in dollars will mean a world with less demand for US assets such as US government debt. The public therefore receives no details as to how the Board of Governors spent this $2 billion. That amount of time can make things feel distant. And they certainly arent operating within the limits of the U.S. Constitution. Banking Crisis (Not the Fed) To Cause Recession? How much a bank should lend is anyones guess, but with rates on the rise and the Feds Quantitative Tightening of last year, its understandable lending activity would decrease. Backed by the Sound Money Defense League, Money Metals Exchange, and in-state Mississippi dealers and investors, this years legislative effort built upon a multi-year grassroots campaign waged by sound money activists. I never thought Id agree with Border Patrol but apparently local cops were so derelict Im forced to. With few eligibility exceptions available and a brutal front line, the stricter rules have many Ukrainian men fearing for their safety. And who exactly do they serve if not you and me? Much of the case law we have on a police officers ostensible duty to protect comes from domestic abuse or sexual violence cases. The myth of the hero cop really is a myth. Now, with the passage of HB 1718, Arkansas becomes the 11th state also to end capital gains taxes as applied to the sale of gold and silver (with some of those states simply having no income taxes in the first place). The March monetary inflation event reaffirmed this. IACP provides guidance on how officers in those situations should assess how to proceed with that rapid response. the draft and forced men to fight the people of eastern Ukraine who didn't want to live under the new government in Kyiv. 120,000 were conscripted last Fall. John W. Whitehead has taken on everything from human rights abuses in Saudi Arabia, protection of religious freedom, and child pornography, to family autonomy issues, cross burning, the sanctity of human life, and the war on terrorism in his weekly opinion column. Or, asReuters put itin 2019, the dollar is used for at least half of international trade invoicesfive times more than the United States share of world goods importsfuelling demand for U.S. assets. Those assets include US government debt. A look backwards reveals police transportation has evolved: the first twin-engine Indian motorcycle was purchased in 1914; the first car, a 1924 Ford Runabout, which was totaled the very first week on the road in a high speed chase at 40 miles an hour. Or only if it involves domestic violence? Im referring to the corporatized, militarized, entrenched bureaucracy that is fully operational and staffed by unelected officials who are, in essence, running the country and calling the shots in Washington DC, no matter who sits in the White House. Arguments about the dangerous nature of police work drive the increasing militarization of police departments. Weve been told that cops need to be able to crash through doors, search vehicles, carry out roadside strip searches, shoot anyone they perceive to be a threat, and generally disregard the law whenever it suits them because theyre doing it to protect their fellow Americans from danger. See below: Going back to the initial remark of embezzlement of public funds. It has gone all the way to the Supreme court, which decided there was no constitutional duty to protect that person. It happened fairly quickly, but over the course of one week in March, the Fed expanded its balance sheet by $300 billion, and then $100 billion the following week. In 2022 the US government paid the Fed $116 billion, and mortgage holders paid $54 billion, meaning $170 billion total revenue came from the public. Within hours of the first Russian airstrikes that signaled the beginning of the February 2022 invasion, Ukrainian President Volodymyr Zelensky declared martial law, called up men in the reserves, conscripted new soldiers, and prohibited men between the ages of 18 and 60 from leaving the country. Should Trump be allowed to hold office again? Why do we have more than a million cops on the taxpayer-funded payroll in this country whose jobs do not entail protectingoursafety, maintaining the peace inourcommunities, and upholdingourliberties? The chart below shows Reserves held at the Fed since 1959: The reserves balance held at the Fed didnt fluctuate for decades and then suddenly banks started keeping a lot more money at the Fed. June 11, 2020 at 2:10 p.m. Rounding out this profit-driven campaign to turn American citizens into enemy combatants (and America into a battlefield) is a technology sector that has been colluding with the government to create a Big Brother that isall-knowing, all-seeing and inescapable. So a state agency could not be held responsible for not intervening in the actions of a private individual. In recent years, Americans have been killed by police merely forstanding in a shooting stance,holding a cell phone, behaving oddly andholding a baseball bat,opening the front door,running in an aggressive mannerholding a tree branch,crawling around naked,hunching overin a defensive posture,wearing dark pantsand a basketball jersey,driving while deaf, beinghomeless,brandishing a shoehorn, holding agarden hose, andpeeing outdoors. CurrentlyArkansasisranked 30thout of 50 in the2023 Sound Money Index. But it makes sense because anyone having the ability to create trillions of dollars on demand probably wouldnt keep trillions of dollars in a secured vault either. Mass shootings have become so common I had cause to write an article explaining the link between domestic violence and mass shootings a year ago. Its true what they say about following the money. If the Fed created a few hundred billion dollars to save a few troubled banks, imagine the response theyll give once larger banks fall on hard times. With the release of the Federal Reserves 2022 Financial Statements, we can take a closer look at their income and expenses to find that the central bank functions like a federal embezzler as much as it does a federal counterfeiter. Since cops didnt search his room, they didnt see any criteria to commit him or intervene. Neither Trump nor Kudlow actually explain why maintaining reserve currency status is so important. TermsPrivacyDisclaimerCookiesDo Not Sell My Information, Begin typing to search, use arrow keys to navigate, use enter to select, Please enter a legal issue and/or a location, (city, Click here. terrorists) and called on the government to subject such targeted individuals to full-fledged pre-crime surveillance. There is another expense line item called: Other Items of Income (Loss), but this is only $220 million, therefore negligible. Meanwhile, thegovernment has been amassing an arsenal of military weapons for use domesticallyand equipping and training their troops for war. Police do have protocols for dealing with dangerous situations like the ones in Uvalde and Parkland, and these protocols emphasize the need for police to take rapid action. Men are being stopped in the street and questioned about their draft status. Readers will recognize that this is precisely what the Fed has been doing and until theyre stopped, expansion of the balance sheet will continue to be its long run monetary policy. Yes there are a VERY FEW law enforcement officers who don't do the very best they can for American citizens. Rather than alleviate poverty, it creates it, due to the inflation of the money supply and the currency debasement that follows. Supreme Court precedent holds that American police have no legal obligation to protect the public. No one knows how bad it will get, and how large the Fed response will be, but dont expect a mild response any more than a soft landing. The Federal Reserve Bank of Richmond tells us Milton Friedman (not an Austrian) advocated for this over 40 years ago. On the other, seldom talked about side of the balance sheet, are the liabilities: The liabilities primarily consist of money the Fed owes to others. None of this is good for the productive people in the US. The interest, administrative, and dividend costs were discussed in the review of the Statement of Operations a few days ago. - "Poynter" fonts provided by fontsempire.com. Naturally, politicians and pundits such as Trump and Kudlow view any threat to this kind of state poweras a bad thing. The interest rate on the Feds US Treasuries held are not disclosed in its financial statements, but the interest rate on its nearly $3 trillion Mortgage-Backed Securities is: Nearly $2 trillion earns the Fed 1.5% to 2.5%, whereas the Fed pays 4.9% on the $3 trillion that banks hold on reserve. These interests rarely coincide, however, and they certainly don't when it comes to reserve currency status. The other section deserving of consideration is on Page 24, where the deferred asset (capitalized loss) of $16 billion is explained. or click here to become a subscriber. Considering a school district police officer was on the scene before the shooter even entered the school, why did it take so long to end the shooting? After the fall of the Soviet Union, both Ukraine and Russia continued to require male citizens to serve time in the military, though the term was gradually reduced from two years to one. We should not accept earlier rulings that police have no duty to protect us especially as they continue to receive bloated budgets. If this constitutes salaries, then total salaries and pension costs at the Fed become closer to $7 billion. When the Fed eventually pursues the road to profitability via Quantitative Easing, it will come with devastating consequences. Last year nearly $4 billion went to salaries and benefits and another $1 billion into the pension plan.
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