Market contacts observed that the recent developments in the banking system will likely result in a pullback in bank lending, which would not be reflected in most common financial conditions indexes. 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.. Yes, policing is dangerous but it is far from the most dangerous job in the country. Even government agencies with largely administrative functions such as the Food and Drug Administration, Department of Veterans Affairs, and the Smithsonian have been acquiring body armor, riot helmets and shields, cannon launchers and police firearms and ammunition. Police cars no longer say to serve and protect, is that because it was a lie that has become . A deferred asset represents the shortfall in earnings from the most recent point that remittances to the Treasury were suspended. 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 foreign policy. Speaking of averages, if the average low-level employee read Mises or Rothbard, it would only raise more questions and leave them in an ethical dilemma, which could become quite unnerving. Last year nearly $4 billion went to salaries and benefits and another $1 billion into the pension plan. Arkansas is helping lead the way in defending and restoring sound money, as well as removing the disincentives for citizens to protect themselves from the inflation and financial turmoil that flows from the Federal Reserve System, said Jp Cortez, policy director of the Sound Money Defense League. In both of these court cases, clear and repeated threats were made against the safety of children but government agencies chose to take no action. Sadder is the reasons dont matter. Members concurred that the U.S. banking system is sound and resilient. All of this has taken place right under our noses, funded with our taxpayer dollars and carried out in broad daylight without so much as a general outcry from the citizenry. IACP provides guidance on how officers in those situations should assess how to proceed with that rapid response. Texas Department of Public Safety Col. Steven McCrawcalled it"the wrong decision. Realistically, they could revert to the pre-2008 policy and pay no interest, or because too many people wont like that, then at least lower the rate paid to banks to something smaller, like 1, 2, or 2.5%. 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 . From an auditors perspective, a quarter of a billion dollars is likely below materiality when dealing with dollar-value magnitudes of this order. The fact that the Fed has the power to enact this change, literally tomorrow, but continues not to, speaks volumes. The Kremlin'sapproachhas been to transition to a digital platform. Rather, they have become "law enforcement officers". In theenduring wordsof William Norman Grigg, "conscription indisputably rests on the assumption that each individual is the State's property, to be sacrificed when those controlling the State deem it necessary for their protection.". Tu ne cede malis,sed contra audentior ito, Website powered by Mises Institute donors, Mises Institute is a tax-exempt 501(c)(3) nonprofit organization. In 2005, in Castle Rock v. Gonzalez, the Supreme Court relied on this precedent when it ruled that police have no duty to protect (or arrest or intervene) even when there is a protective order in place or a law mandating arrest if the abuser violates the order. What is the Austrian School of Economics? The question is: How bad is it? However, such gains are not necessarily a real in terms of translating to an actual increase in purchasing power. Custody is narrowly confined to situations where a person loses his or her freedom to move freely and seek assistance on their own such as prisons, jails, or mental institutions., The US Supreme Court has made it clear that law enforcement agencies are not required to provide protection to the citizens who are forced to pay the police for their "services.". Battenburg cars. 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. Offenders are subject to imprisonment for up to 10 years. The interest, administrative, and dividend costs were discussed in the review of the Statement of Operations a few days ago. 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. The war in Ukraine serves as a reminder that conscription is not extinct. These interests rarely coincide, however, and they certainly don't when it comes to reserve currency status. Less than a year later, the new Western-backed Ukrainian government. Lauren Sprouse is an Associate in the Firm's Litigation and Employment Law Practice Groups. None of those things is going to happen without first experiencing a wakeup call on the level of losing currency reserve status. 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. In 2021 there were over 23,000 people employed by the Federal Reserve System. ", Kudlow's remarks came a day after Donald Trump declared that China is trying to displace the U.S. Dollar [sic] as the NUMBER ONE CURRENCY" and that if this occurs, it would be the biggest defeat for our Country [sic] in its history.". The notes reveal that all is not well with the Fed, and these heavy losses can be squarely attributed to its own policy. Truly, therewould be a revolution before tomorrow morningif everyone understoodwhat government has done to our money. While we may not be able to force police to care about domestic violence, we should at least require officers on school grounds to intervene when a shooter starts to kill children. We see $2.889 trillion in repurchase agreements, i.e., money owed to financial institutions and $2.684 trillion owed to depository institutions, which the Fed pays interest on. It is fast becoming a government of the rich, by the elite, for the corporations, and its rise to power is predicated on shackling the American taxpayer to a life of indentured servitude. According to the transcript: Diversity makes the Board stronger by providing different talents and perspectives that help make us more effective. [Read More: "Why the Dollar Still Beats the Euro and the Yuan" by Ryan McMaken.]. 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. The financial statements reveal that the Board of Governors expenses and currency costs were $2 billion. In a 6-3 decision, the Supreme Court ruled that the due process clause of the 14th Amendment only protects against actions by the state not actions by private individuals (in this case, the abusive father). After serving their time as active duty soldiers, Ukrainian conscripts remained in a reserve status, eligible to be recalled until the age of 55. Unfortunately, last month gave the world a glimpse of what is to come inthe next recovery. Justices said the police had no such duty. June 11, 2020 at 2:10 p.m. Yesterday we reviewed the Feds Statement of Operations finding many peculiarities such as: a $16 billion capitalized loss, $2 billion spent by the Board of Governors, and $1.2 billion paid as a dividend to the banks. Today, over a year into the invasion, Ukraine is relying more on conscripts as their losses mount. 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. And as recently as 2019, Russian President Vladimir Putinvoicedsupport for abolishing conscription. This loss represents the decline in fair market value of the Feds US Treasuries and Mortgage-Backed Securities (debt) holdings. In 2013, Ukrainian President Viktor Yanukovychabolishedconscription. Power & Marketoffers a contrarian take on world events. 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. If you would like additional information or have questions related to this article, please contact Lauren at 512.322.5808 or lsprouse@lglawfirm.com. Current Projects. 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). Yesterday we reviewed the Feds Statement of Operations finding many peculiarities such as: a $16 billion capitalized loss, $2 billion spent by the Board of Governors, and $1.2 billion paid as a dividend to the banks. Sadder is the reasons don't matter. Nearly 20 officers waited in the hallway outside the classroom in which the shooter was killing students and teachers. All this dollar profligacy has beenneither necessary nor advisable, yet maintaining global reserve currency statuscan helpregimes get away with this sort of thingfor decades. In this way, the old police motto to "protect and serve" has become "comply or die.". However, near the end of the report on Note 12, its explained that after expenses and the dividend to banks (which was only $583 million last year), the Fed managed to remit $76 billion to the Treasury. Is Charging Parents in High School Shooting a New Legal Strategy? It also illustrated how the Fed receives money from the government, pays banks and administration fees, thereby grinding down income, only to remit far less money back to the government than it took in. This measure builds on momentum on sound money from previous Arkansas legislative sessions. That could have created conditions for a duty to rescue. 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. 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. Most recently, the U.S. Court of Appeals for the 11th Circuitupheld a lower court rulingthat police could not be held liable for failing to protect students in the 2018 shooting that claimed 17 lives at Marjorie Stoneman Douglas High School in Parkland, Florida. The U.S. Supreme Court has also ruled that police have no specific obligation to protect. That would require intervention as schools are gun-free zones.. In 1981, in Warren v. District of Columbia, the DC Court of Appeals ruled police officers had a general duty to protect the public but had no specific legal duty to individuals. Power & Marketis publishedCC4, unless denoted otherwise. The draft may lie dormant in the U.S., but that assumption remains. Lauren is a registered patent attorney who represents clients in all phases of litigation. Anecdotally, other than mortgage loans, small business owners can attest that banks havent been lending to main street for a long time, save for government backed programs. fitness centers that encourage a healthy lifestyle through exercise and indoor and outdoor sports. It continues to be a costly endeavor. The interest earned on US Treasuries and Mortgage-Backed Securities accounts for nearly 100% of the Feds revenue. If we take this $5 billion and divide it by the Feds 23,000 employees, we arrive at a cost of approximately $217,000 per employee. Almost two decades ago the Fed started paying interest on bank reserves. A consideration of these facts does not necessarily lead us to the conclusion that law enforcement agencies are somehow on the hook for every violent act committed by private citizens. It says that protection from crime isn't an affirmative right so you can't blame police for crimes they don't stop. Eliminating sales taxes on gold, silver, and other precious metals is good public policy for severalreasons: Only seven states (New Mexico, Hawaii, Wisconsin, Kentucky, Maine, New Jersey, and Vermont) still participate in the outmoded practice of taxing purchases of constitutional sound money. Men are being stopped in the street and questioned about their draft status. Survivors of a school massacre already unsuccessfully tried to sue police for not acting after the Parkland shooting. Not a subscriber? Too often they appear to mean, to protect officers and serve the police force.Force Protection has become the primary motivating force for many in the Police. A profitable Fed may be even more dangerous than an unprofitable Fed. Earlier this month, Larry Kudlow insisted that it is "it's incumbent on the U.S. government, no matter who's in power, to maintain the reserve currency status of the dollar." None of this, however, improvesthe standard of living of Americans who pay the bills. Prefer to give a one-time tip? Since the assets are not written down to market, they remain at cost, so no loss appears on the financial statements. To answer the initial question: How bad is it? The "shopcam" recordings seen on The Rookie are an invention for that show. What would happen if the Fed simply stopped paying interest to banks? Police have a legal obligation to stop crime. That thin, blue line of loyalty to ones fellow cops has become a self-serving apparatus that sees nothing wrong with advancing the notion that the livesand rightsof police should be valued more than citizens. Senate Bill 2862 goes into effect on July 1, 2023. 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. If you need police to protect you, all you can do is hope they will. Of course, it would be next to impossible for the Fed to actually sell its entire $8 trillion portfolio since the pool of buyers is fairly small, so prospective buyers would demand a much lower price in return. 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? While theyre not wrong about the upcoming recession, they might be overly optimistic about their response to the recession. Its all arbitrary, but anything less than 4.9% would be an improvement. But the war in Ukraine offers a window into what conscription looks like in today's day and age. Or only if it involves domestic violence? executive director of the National Tactical Officers Association, said, International Association of Chiefs of Police. The motto is there or it is not based on what jurisdiction you are in. 134,500 people. 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. This is especially the case when the dollar is unbacked by any commodity like gold, and is simply a floating fiat currency that can be inflated at the will of the regime at any time. Draft notices are sent out electronically and are considered delivered immediately, meaning the man is instantly on the clock for reporting to his local recruitment office. The path to profitability is an easy one, consider: Last year the central bank earned $170 billion in interest revenue (paid by government and mortgage holders), then expensed $102 billion to banks, literally 60% of the Feds revenue. States all over the country are waking up to the precarious condition of Americas money. Try us and go ad-free for $1. 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. So it would appear that police, upon realizing that people. Few seem to care about the governments endless wars abroad that leave communities shattered, families devastated and our national security at greater risk of blowback. As weve seen, in times of financial crisis its not unheard of for Fed officials to work weekends! This begs the question: if the police dont have a duty to protect the public, what are we paying them for? - "Poynter" fonts provided by fontsempire.com. Various calculations can be done to put more context around this and provide additional food for thought. In 2022 the Fed paid about $4 billion in salaries in addition to the$1 billion it paid in pension costs. Draft notices are sent out electronically and are considered delivered immediately, meaning the man is instantly on the clock for reporting to his local recruitment office. CIA Front Threatens Color Revolution in Georgia, How Israeli cyber weapons are taking over Latin America. In 2005'sCastle Rock v. Gonzales,a woman sued the police for failing to protect her from her husband after he violated a restraining order and abducted and killed their three children. Outside the school, more police officers prevented parents from entering and ignore their desperate pleas. If the income statement shows how money is funneled out of the public purse, then the balance sheet shows the malicious monetary technique that turned counterfeiting into a public good. For years now, weve been told that cops need military weapons to wage the governments wars on drugs, crime and terror. New rules allow officials totrack downnew conscripts wherever they may be. The effective date is July 1, 2023. In return, the Fed paid $102 billion to banks, $9 billion for administration, $1 billion in dividends, and then gave back $76 billion to the Treasury, making up for the shortfall in a way that no one else could do. With the stroke of Gov. 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, 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. Its true what they say about following the money. Zelensky alsoauthorizedthe "release" of convicts with combat experience to bolster Kyiv's forces. 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. Thats a done deal. Chapter 943 of Florida Statutes clarifies that all law enforcement officials have a primary responsibility to detect and prevent crime.