Cops have no specific legal duty to individuals. The costs were $2 billion this year. It seems all so welcoming, reinforced by Chair Jerome Powells inspirational 2-minute-long video on the importance of diversity. 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. 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. After all, it's clear that it is not necessary for a country's currency to be a reserve currency in order for that country to have a high standard of living and a high degree of economic freedom. Police no longer consider their responsibilities to include "protecting and defending" the rights of the people. Since the assets are not written down to market, they remain at cost, so no loss appears on the financial statements. Chief of the Philippine National Police, retirement | 297K views, 1.1K likes, 812 loves, 1K comments, 873 shares, Facebook Watch Videos from Radio Television Malacaang - RTVM: President Ferdinand R.. Consider it as an IOU the Fed holds, literally pieces of electronic paper that says the United States Government and countless mortgage holders owe the Fed $8 trillion plus interest. When the Fed eventually pursues the road to profitability via Quantitative Easing, it will come with devastating consequences. 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. 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 taxpayers will still have to pay their taxes and submit to police agencies as lawful authority. And we no longer live in a constitutional republic. 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. But what does it mean to say the Fed owns (rounding down) $8 trillion in UST and MBS? But as courts have determined, they have no obligation to do that. Nearly 20 officers waited in the hallway outside the classroom in which the shooter was killing students and teachers. Some found they could avoid the summons by staying away from their official addresses. Tax ID# 52-1263436, conscription. Much of the case law we have on a police officers ostensible duty to protect comes from domestic abuse or sexual violence cases. new conscripts wherever they may be. None of those things is going to happen without first experiencing a wakeup call on the level of losing currency reserve status. A large part of this money has gone into fighting endless wars on terror, drugs, and poverty. One of the most dishonest headlines of the week goes to CNBC: Fed expects banking crisis to cause a recession this year, minutes show. Trump and Kudlow seemingly can't tell the difference between what is good for the US government, and what is good for the people. or click here to become a subscriber. With strong support from the Sound Money Defense League and grassroots activists, Arkansas passed SB 336 in 2021, ending state sales taxes on purchases of gold and silver. 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 . Print Banking Crisis (Not the Fed) To Cause Recession? 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. Less than a year later, the new Western-backed Ukrainian governmentreinstatedthe draft and forced men to fight the people of eastern Ukraine who didn't want to live under the new government in Kyiv. The Public Duty Doctrine, or Duty to Rescue, only applies when there is a special relationship.. Seventeen people, most of them teenagers, died while the cops opted not to intervene. Senate Bill 2862, sponsored by Sen. Juan Barnett (D-34), had Senate Bill 2862, sponsored by Sen. Juan Barnett (D-34), had passed out of the full senate by a vote of 52-0 and sailed through the House of Representatives by a vote of 115-0. 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. The first advantage is reserve currency status brings a greater global demand for dollars. The reality is likely that closer to 80% of the employees only make around $100,000 while the remaining 20% make a lot more. After serving their time as active duty soldiers, Ukrainian conscripts remained in a reserve status, eligible to be recalled until the age of 55. In 2022 the Fed paid about $4 billion in salaries in addition to the$1 billion it paid in pension costs. Police have a legal obligation to stop crime. Those in the system have little to no incentive to question where their salary is coming from, or what the greater economic impacts of their organization are. 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. They expect a recession this year and 2% inflation during the period of recovery. But what happens when those police agencies don't protect and serve? [Read More: "Why the Dollar Still Beats the Euro and the Yuan" by Ryan McMaken.]. On the big screen, the military coup is foiled and the republic is saved in a matter of hours. New rules allow officials totrack downnew conscripts wherever they may be. It has even gone on to fight proxy wars, funded drone strikes across the globe, as well as post-secondary education. Police cars no longer say to serve and protect, is that because it was a lie that has become . Answer (1 of 6): To Protect and Serve, or some version of it, has been the official or unofficial motto of various police agencies over the years, notably the Los Angeles Police Department. The boom-and-bust cycle it creates, and the asset bubbles it inflates can also be attributed to this $8 trillion. Police occasionally face consequences for their actions, like when Minneapolis officer Derek Chauvin was convicted of murdering George Floyd. It continues to appear on the Department's patrol cars as a symbol of commitment to service. 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%. Mind you, by government, Im not referring to the highly partisan, two-party bureaucracy of the Republicans and Democrats. If cities and states want their police to be more respected,. At this point, however, how wefeel about it is irrelevant. The police response to the Uvalde tragedy is drawing attention to a newer conversation without gun-law reform or better domestic violence response, cant we at least rely on police to serve and protect? One might fear that in doing so, this $3 trillion reserve would leave the Fed and go back to the banks; however, this is fine as the world functioned a lot longer in the former way rather than the latter. Members concurred that the U.S. banking system is sound and resilient. The conscripts have so far received worse equipment and inferior training than the volunteer forces before being sent into battle. 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." The students filed suit, naming six defendants, including the Broward school district and the Broward Sheriffs Office , as well as school deputy Scot Peterson and campus monitor Andrew Medina. 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. Now Gun Controllers Want to Give Police. This is no longer a government of the people, by the people, for the people.. States all over the country are waking up to the precarious condition of Americas money. That term is actually a military concept which means that you do everything you can to protect the troops when planning and executing a combat mission.. Russian conscription followed a similar trajectory to Ukraine's after the fall of the USSR. With few eligibility exceptions available and a brutal front line, the stricter rules have many Ukrainian men fearing for their safety. Moreover, even though the state of Florida has compulsory schooling laws, the students themselves are not "in custody": Courts have rejected the argument that students are in custody of school officials while they are on campus, Mr. Hutchinson said. Arguments about the dangerous nature of police work drive the increasing militarization of police departments. WASHINGTON, June 27 - The Supreme Court ruled on Monday that the police did not have a constitutional duty to protect a person from harm, even a woman who had obtained a court-issued protective. It doesnt bode well that stopping interest payment on reserves or at least reducing the 4.9% rate is not being considered as a viable solution. 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. ", 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.". This measure builds on momentum on sound money from previous Arkansas legislative sessions. Period. Most insidious of all, the exaggerated danger and trumped-up heroism drives an us-versus-them mentality that suffuses contemporary big-city policing and bleeds into the criminal justice system, causing systemic imbalances that chronically favor the police over citizens. Thats a done deal. None of this is good for the productive people in the US. The cameras are on, the microphones aren't. When the officer pushes the "record" button on the bodycam, the microphone activates, and the sile. We know students kept calling. All rights reserved. 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. So, for now,the dollar still reigns supreme, and being the regime whose currency enjoys global reserve status comes with many advantages. The other section deserving of consideration is on Page 24, where the deferred asset (capitalized loss) of $16 billion is explained. 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. 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.. No matter how they do it, it will probably be extremely dangerous. Cops in America may get paid by the citizenry, but they dont work for us. Prefer to give a one-time tip? All eligible men are required to register through an online government portal. Various resource groups exist to help manage this much diversity, including: Sadly, the Fed continues to discriminate against Austrians. 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. The "shopcam" recordings seen on The Rookie are an invention for that show. 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. Should one choose to work from the office, on-site perks include: With 12 districts to choose from, the Federal Reserve System offers a little something to everyone: Other than for the janitorial staff (who may be contracted), there appears to be no physically demanding labor involved. The deferred asset is the amount of net excess earnings the Reserve Banks will need to realize in the future before remittances to the Treasury resume. The balance sheet invokes many things, one of which is the realization that even though the Fed is not a bank, like a bank, it barely has any money of its own. What would happen if the Fed simply stopped paying interest to banks? But, genuine or not, those sentiments disappeared as the region descended into war. 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. 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. What Should You Do if You Witness Police Brutality? 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. This stealthy, creeping, silent coup that is the same danger that writer Rod Serling warned against in the1964 political thrillerSeven Days in May, which put the military in charge of a coup that would institute martial law packaged as a well-meaning and overriding concern for the nations security. In 1976, in Tarasoff v. Regents of University of California, the Supreme Court of California ruled that mental health professionals have a duty to protect people who are being threatened with harm by a patient. We favor individual freedom, honest history, and international peace, in the tradition of Ludwig vonMisesand Murray N.Rothbard. To the average person, the system works for them so theres no need to ask too many questions. Terms of Service apply. 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 yuan is a fifth-place also-ran in the currency race. Sound money advocates are rejoicing as House Bill 1718, the Arkansas Legal Tender Act has become the law in the Natural State. Of these seven outliers, legislative allies in five states introduced sales tax exemption bills, with efforts in Wisconsin, New Jersey, and Maine still ongoing. Isnt that the definition of a caregiver required to act? For them, it appears that the supposed importance of reserve currency status is not about economic concerns, but is really a political project. The purpose of this universal language of assistance is to: Enhance officer and public safety by reducing the likelihood of road accidents. So, the next time you see a police car roll by with "To Protect and Serve" emblazoned on the door, keep in mind they have no constitutional obligation to do that. 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. Meeting with a lawyer can help you understand your options and how to best protect your rights. code or county). Moreover, reserve currency status creates political cover for the regime's easy-money policies in the short term. 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? If you need police to protect you, all you can do is hope they will. Indeed, there were no protests in the streets after U.S. military forces carried out air strikes on a Syrian settlement, killing 25 people,more than half of which were women and children. The taxpayers are required to submit to a government monopoly on force, and to pay these agencies taxes. Mustthey risk their lives in dangerous situations like the one in Uvalde? If Police Dont Have to Protect the Public, What Good Are They? about FindLaws newsletters, including our terms of use and privacy policy. After all, even after the pound sterling lost its status as reserve currency in the 1930s, it did not disappear. In the case of police action in Uvalde, there are many possible legal strategies by which to hold them accountable. Even worse, should the banking crisis be only a small partof the problem, the Feds desire to intervene will be even greater. Required and excess reserve balances no longer exist, theyve been combined into reserve balances, and so, as the Feds FAQ shares: The Federal Reserve Banks pay interest on reserve balances. {{ post.roar_specific_data.api_data.analytics }}. Answer (1 of 8): No. Men are being stopped in the street and questioned about their draft status. Kudlow laments that a toppling of the dollar from that perch"seems to be the direction we're going in. In 1989, in Deshaney v. Winnebago County, the Supreme Court ruled a state government agency (in this case the Department of Social Services) didnt violate a childs right to liberty by failing to protect him from his fathers abuse. 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Then they took down the shooter. We also do a better job serving the public when we reflect the rich diversity of our nation. All this dollar profligacy has beenneither necessary nor advisable, yet maintaining global reserve currency statuscan helpregimes get away with this sort of thingfor decades. It starts with $102 billion paid to banks which park and lend their money to the Fed. 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. New York, 22 N.Y.2d 579,293 N.Y.S.2d 897, 240 N.E.2d 806 (1958). Other key supporters in the Mississippi legislature included Rep. Jody Steverson (R-4), Rep. Jill Ford (R-73), and Sen. Chad McMahan (R-6). have received conscription notices after being detained by police. A second advantage:the fact the dollar dominates in global trade transactions means more global demand for US debt. Since cops didnt search his room, they didnt see any criteria to commit him or intervene. 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. It remains a clear and present threat to liberty. Passage of this measure will increase the states ranking dramatically. For all of us independent news organizations, its no exception. Justices said the police had no such duty. The Federal Reserve Bank of Richmond tells us Milton Friedman (not an Austrian) advocated for this over 40 years ago. 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. It is the unfortunate, misguided, perverse message that has been beaten, shot, tasered and slammed into our collective consciousness over the past few decades, and it has taken root. It seems like now the only ones they are serving and protecting are themselves while leaving the public in fear. 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. Visit our attorney directory to find a lawyer near you who can help. And when people have guns, nobody needs police.. The Supreme Court has repeatedly held that the government has only a duty to protect persons who are in custody, he pointed out. Make a one-time contribution to Alternet All Access, However, it has become increasingly clear that in far too many police forces those words have been twisted beyond recognition. The financial statements reveal that the Board of Governors expenses and currency costs were $2 billion. It has never been painted on most p. Yes there are a VERY FEW law enforcement officers who don't do the very best they can for American citizens. 3 William Street Tranmere SA 5073; 45 Gray Street Tranmere SA 5073; 36 Hectorville Road, Hectorville, SA 5073; 1 & 2/3 RODNEY AVENUE, TRANMERE Almost a decade later, after spending billions to fight terrorism, the DHS concluded that thegreater threat is not ISISbutdomestic right-wing extremism. The draft may lie dormant in the U.S., but that assumption remains. However, such gains are not necessarily a real in terms of translating to an actual increase in purchasing power. With the stroke of Gov. That amount of time can make things feel distant. We need your support in this difficult time. To be fair, so long as nothing catastrophic happens, the Fed will probably not realize the $1.2 trillion loss conversely, it could always get worse! Yes, these are the very same banks the Fed regulates and bails out on occasion. Since police officers have stopped cooperating, and have offered contradictory information, we will probably never know. Various calculations can be done to put more context around this and provide additional food for thought. Let's start with the happier portion of today's program first. "To Protect and to Serve" became the official motto of the Police Academy, and it was kept constantly before the officers in training as the aim and purpose of their profession. But the war in Ukraine offers a window into what conscription looks like in today's day and age. And we know it took an hour and 20 minutes for police to kill the shooter and stop the rampage. 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. The words define the mission of the. InvalidArguments 12 yr. ago You can't blame police for crimes they don't stop. Ending income / capital gains taxes on precious metals sales is becoming more popular. This produces no net benefit sincegovernment spending in itself distorts the economy, drives up prices, and otherwise redistributes wealth according to political considerations, rather than according to the needs of consumers and entrepreneurs. Perhaps more importantly, a world less awash in dollars will mean a world with less demand for US assets such as US government debt. @2022 - AlterNet Media Inc. All Rights Reserved. As of Thursdays release, their deferred asset stood at $50 billion. They might be risking their own lives. First, I believe those who serve in the military or in law enforcement share a set of core values that enable them to serve and protect others and preserve our American way of life. Yet, it not the end of reserve currency status that is to blame for the inflationist pain. Weve always understood the importance of calling out corruption, regardless of political affiliation. [In] the years since the Sept. 11 attacks, the story of the hero cop has become so powerful and pervasive thateven questioning police behavior is decried as disloyal, un-American, and dangerous.. The law doesnt require cops to protect the public. 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. 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. There's no excuse for that." reCAPTCHA and the Google Privacy Policy and Not a subscriber? The past year has been the most arduous of our lives. 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. 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. 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. The women who had called police on account of intruders being in their houses, and then spending the next 14 hours being raped, werent owed the specific duty of police officers to protect them. In the cases DeShaney vs. Winnebago and Town of Castle Rock vs. Gonzales, the supreme court has ruled that police agencies are not obligated to provide protection of citizens. Under HB 1718, the era of taxing gold and silver in Arkansas has come to an end. Comments for Dont Forget the Notes to the Financial Statements! It's going to happen regardless of our feelings on the matter. Contact us. With interest rates this high it becomes difficult to imagine when the Fed will start to have positive income and remit money to the Treasury again. The interest, administrative, and dividend costs were discussed in the review of the Statement of Operations a few days ago. Additionally, in Uvalde, police began to rescue students and then stopped. Even worse, when the dollar ceases to be the dominant reserve currencyan event that is inevitableholders of dollars will see their purchasing power plummet. TheInternational Association of Chiefs of Police, for instance, says, "Taking action during active shooter incidents, rather than waiting for specially equipped and trained officers, can save lives and prevent serious injuries. After all, even if the US central bank (the Federal Reserve)creates $8 trillion in new dollars in order to prop up US asset prices, much of the world will take those dollars out of US domestic markets, and this will reduce price inflation in the USat least in the short term. Posted on June 8, 2022 ; in pete davidson first snl episode; by credit union offices for your banking needs. This brings us to the $59 billion in earnings for the year, give or take a few billion for rounding, but its more complicated than that. Epson, you earn a gold star. Meanwhile, thegovernment has been amassing an arsenal of military weapons for use domesticallyand equipping and training their troops for war. Steady income, great benefits, probably not too much stress, and likely have little risk of being fired over things such as failure to meet profitability targets. 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. 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 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.". 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. This isn't about protecting your wealth or reining in government power. This means more of a global willingness to absorb dollars into foreign central banks and foreign bank accounts even as the dollar inflates and loses purchasing power. According to the transcript: Diversity makes the Board stronger by providing different talents and perspectives that help make us more effective.