The Press-Dispatch
Issue link: https://www.ifoldsflip.com/i/1388456
The Press-Dispatch Wednesday, June 30, 2021 B-5 Four score and seven years later 'We the People' fought the Civil War because the owning of slaves was allowed under the Constitution. It took 655,00 soldiers dead, 50,000 free civilians dead, and 80,000 + slaves dead and the 13th Amendment to erad- icate this stain on America. How did 'We the People' fare? Months after the Civil War, the Ku Klux Klan was founded on December 24, 1865. It terrorized and tar- geted white Northern lead- ers, Southern sympathizers, and politically active blacks. Although the government passed laws in 1871 to sup- press the Klan, it has never completely vanished. Then in 1896 the U.S. Supreme Court upheld the constitutionali- ty of racial segregation un- der the 'separate but equal' doctrine (Plessy v. Fergu- son). How did 'We the Peo- ple' fare? The Jim Crow laws of the South soon became the 'law of the land' and these laws continued unabated until 1954, when the US Supreme Court ruled unanimous- ly that racial segregation of children in public schools was unconstitutional. In es- sence, it reversed the 1896 Court ruling of 'separate but equal.' For the next ten- years it embroiled the south in civil-rights marches and demonstrations to secure equal rights for everyone. The Klan became active and terrorized blacks and sympa- thetic whites with shootings, bombings, and murder. The Civil Rights Act of 1964 was the most comprehensive civ- il rights legislation ever en- acted by Congress. The Vot- ing Rights Act of 1965 re- moved barriers to black en- franchisement in the South, banning poll taxes, literacy tests, and other measures that effectively prevented A frican Americans from vot- ing. It took 176 years before 'We the People' truly meant 'everyone! ' How did 'We the People' fare? Along the way 'We the People' have witnessed the courts remove prayer and Bi- ble reading from schools, and create a 'separation of church and state.' People whobelieve religion played no role in the writing of the U.S. Constitu- tion should heed the words of John Adams, 'We have no government armed with power capable of contend- ing with human passions un- bridled by morality and reli- gion. Avarice, ambition, re- venge, or gallantry would break the strongest cords of our Constitution as a whale goes through a net. Our Con- stitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.' — October 11, 1798. As we reflect on current political and cultural devel- opments, we should consid- er how far 'We the People' have drifted from the rights and privileges granted to us by the Constitution includ- ing three of the most import- ant rights being: freedom of speech, assembly, and reli- gion. Benjamin Franklin said, 'Freedom of speech is a prin- cipal pillar of a free govern- ment; when this support is taken away, the constitution of a free society is dissolved, and tyranny is erected on its ruins. Republics… de- rive their strength and vigor from a popular examination into the action of the magis- trates.' — Pennsylvania Ga- zette, November 17, 1737. Franklin also said, 'Or- daining of laws in favor of one part of the nation to the prejudice and oppression of another is certainly the most erroneous and mistaken poli- cy...An equal dispensation of protection, rights, privileges, and advantages, is what ev- ery part is entitled to, and ought to enjoy.' — 1774. 2Cor 3:17 Now the Lord is the Spirit, and where the Spirit of the Lord is, there is freedom. Real liberty is Spelled JESUS! consumers better deals. Rockefeller developed ways to deliver oil for less. He won customers by low- ering the price of kerosene from 26 cents per gallon to about 6 cents. For the first time, average people could afford fuel for lanterns so they could read after dark. Rockefeller may have even "saved the whales" by making oil so cheap that killing whales to get whale oil was no longer practical. His competitors hated him for cutting prices. It was they who convinced the gullible media to call Rockefeller and other entrepreneurs "robber barons." Cornelius Vanderbilt was also born poor. At age 11, he quit school to work on boats. Then he invented ways to make travel cheaper. He cut the New York-Hartford fare from $5 to $1. Because of capitalists like them, Mitchell points out, "We went from agricultural poverty to a country charac- terized by middle-class pros- perity." Still, I'm told that even if capitalism brings us cheap- er or better products, it just isn't "good for us." That's Myth No. 6. Of course, capitalism can breed nasty materialism. Fox News' Tucker Carlson sneers, "Does anybody be- lieve cheaper iPhones or more Amazon deliveries of plastic garbage from China will make us happy? " Mitchell responds, "We're not buying iPhones and plas- tic garbage unless we think it's better for us than the dol- lars that we have! " That's a very important point. No capitalist gets our money unless we voluntari- ly choose to exchange it for whatever he's selling. As Mitchell puts it, "Capitalism is the only system that gives people the liberty to make their own choices." Myth No. 7: Capitalism's pursuit of profit drives busi- nesses to create robots that will eventually take away most everyone's job. It could happen. Artifi- cial intelligence is powerful. Maybe this time is different. But again and again, ex- perts predicted that employ- ment was about to decline — and again and again, they've been wrong. Some people do lose jobs. Capitalism promotes creative destruction. It's terrible for the fired employee. But it's good for most ev- eryone else. It's what allows for innovation. Mitchell points out, "The computer destroyed the type- writer builder's job, electrici- ty took candlemakers' jobs," but those jobs were soon re- placed with better ones. Capitalism has continually generated more jobs. When America began, 90 percent of workers worked on farms. Now fewer than 2 percent do. And there are millions more of us. "As long as our economy has the dynamism that free markets allow," says Mitch- ell, "we're going to see more job creation and higher in- come levels. That's what makes the children and grandchildren of typewriter makers so much better off. No other system anywhere in the world has ever come close to capitalism's ability to generate mass prosperity." John Stossel is author of "Give Me a Break: How I Ex- posed Hucksters, Cheats, and Scam Artists and Became the Scourge of the Liberal Media." For other Creators Syndicate writers and cartoonists, visit www.creators.com. that pushed many of these folks out of banking in the first place. Balances held directly on a blockchain controlled by the Fed. This type of CB- DC closely mimics private decentralized cryptocurrencies, only the ledger—the database known as the blockchain—is controlled by the Federal Reserve. Re- tail banking customers would conduct transactions as if using any other cryp- tocurrency, but their transactions would be with U.S. dollars. The Fed would cen- trally control the database, so anyone concerned with privacy would face the same problems—possibly more—that drove them away from banks. Moreover, it is difficult to see the marginal bene- fit (for anyone) between this option and a non-blockchain electronic account at the Fed. Balances held indirectly on a block- chain controlled by the Fed. In this case, retail customers would still interact with banks, and only the banks would have ac- cess to the (Fed controlled) ledger. Com- pared to the previous option—direct ac- cess to a Fed-controlled ledger account— it is even more difficult to imagine the benefits that would confer to unbanked customers relative to those that might arise from having a non-blockchain ac- count at the Fed. Indeed, private block- chain-based solutions are becoming pop- ular because their decentralized nature makes customers less reliant on exist- ing intermediaries, thus providing lower transaction costs. Overall, the possibility of a CBDC help- ing the unbanked hinges on giving peo- ple "free" access to electronic accounts. This solution really has nothing to do with the private digital currencies that have arisen except that the possible ben- efits of private solutions like Bitcoin have forced many government officials to ac- knowledge that people will not always have to use bank accounts and U.S. dol- lars. The allure of (nearly all) retail-based CBDC proposals is that they shift people into publicly-backed-bank accounts with zero fees. If Congress wants to do that— to convert having a bank account into an entitlement—then they have the pow- er to do so without involving the Fed in any way. Congress can just redistribute more money to people to pay for bank ac- counts with overdraft protection. (Exact- ly why it is kosher for federal taxpayers to subsidize these accounts and short-term loans, but out of bounds for private com- panies to charge for such services, is an- other great question for Sen. Warren.) That policy would be awful but still superior to the other options current- ly being discussed, because it would be transparent and because it would proper- ly separate the issue from a major poten- tial downside to a CBDC: Governments can use CBDCs to secure full control of money and disintermediate the private financial sector. One Member of Congress on the right track with these issues is Sen. Pat Toom- ey (R-Penn.). In a recent hearing, Toom- ey noted: "What problem is a central bank digital currency trying to solve? In other words, do we need one? It's not clear to me yet that we do. In my view, turning the Fed into a retail bank is a ter- rible idea." Toomey also recognizes the power of the private sector. In a recent letter to the U.S. Treasury—which has generally been horrible on crypto and FinTech is- sues across multiple administrations— Toomey nails it: While I recognize that [these] pro- posals are seeking to address the mis- use of cryptocurrencies for illicit activity, if adopted, they would have a detrimen- tal impact on financial technology ("fin- tech"), the fundamental privacy of Amer- icans, and efforts to combat illicit activity. A cryptocurrency connects one person with another through open, public net- works—separate from government con- trol or other financial intermediaries. As a result, cryptocurrencies stand to dra- matically improve consumers' privacy, access to financial services, and power to make decisions for themselves. More members of Congress should view a CBDC and fintech regulation through Toomey's lens. For America's unbanked to get the best outcome, after the Fed takes its "first significant step to- ward launching its own virtual currency," it will take two steps back. Norbert Michel studies and writes about financial markets and monetary policy, including the reform of Fannie Mae and Freddie Mac. CURRENCIES Continued from page 4 Court Report FELONY Pike County Circuit Court Scott Dracul Kain charged with child solicitation, a level 5 felony. Andrew L. Zins charged with count I operating a vehicle with an ACE of at least .08 but less than .15, a level 6 felo- ny, and count II operating a vehicle while intoxicated, prior. James D. Smock charged with count I possession of methamphetamine, a level 6 felony, and count II possession of par- aphernalia. Joanie Sue Slater charged with domes- tic battery committed in the presence of a child less than 16 years old, a level 6 felony. Skye R. Thomas charged with count I operating a vehicle with an ACE of at least .08 but less than .15, a level 6 felo- ny, and count II operating a vehicle while intoxicated, prior. TRAFFIC AND MISDEMEANORS Pike County Circuit Court Jeffery Lane Crutchfield charged with operating a vehicle while intoxicated. Cody Ray Slater charged with posses- sion of marijuana. Christian Rosales charged with reck- less driving. Latia G. Collins charged with reckless driving. CIVIL Pike County Circuit Court Cavalry SPV I, LLC sues Bryan Grubb on complaint. Emily Journay sues Brandon Journay for dissolution of marriage. Levi Jacob King sues Destini Rae King for dissolution of marriage. INFRACTIONS Pike County Circuit Court Ryan Cruse charged with speeding, ex- ceeding 70 mph. Kevin Miller charged with speeding. Megan L. Smith charged with speed- ing, exceeding 55 mph. Eva L. Lake charged with speeding, exceeding 70 mph. Evan C. Russell charged with speed- ing, exceeding 70 mph. Hank L. Gallagher charged with speed- ing, exceeding 70 mph. Taylor R. Smith charged with speed- ing, exceeding 55 mph. Ethan M. Bushey charged with speed- ing, exceeding 55 mph. Mesha Johnnie-Mae Lillard charged with count I driving while suspended, count II speeding, exceeding 70 mph and count III operating with expired plates. Brenda D. Melendez charged with speeding, exceeding 55 mph. Warren H. Smith charged with speed- ing, exceeding 70 mph. Dawn Bryant charged with speeding, exceeding 70 mph. Brandice N. Barnfield charged with speeding, exceeding 70 mph. Angela D. Lucas charged with speed- ing, exceeding 55 mph. Benjamin R. Woolridge charged with speeding, exceeding 70 mph. Abbie J. Normington charged with speeding, exceeding 70 mph. Cole R. Powell charged with disregard- ing a stop sign. Julie A. Smith charged with distract- ed driving. Darnelle D. Bell charged with speed- ing, exceeding 70 mph. Claire B. Wright charged with speed- ing, exceeding 70 mph. Joseph T. Finnell charged with speed- ing, exceeding 70 mph. Anthony S. Pride charged with count I false certificate of registration for motor vehicle, count II driving while suspend- ed and count III operating with expired plates. Lameika T. Combs charged with child restraint system violation. Kelly R. Oliphant charged with speed- ing, exceeding 70 mph. Colton A. Rainey charged with speed- ing, exceeding 70 mph. or nurse to provide abortions services against their reli- gious convictions. Or bak- ers, photographers or wed- ding planners forced to pro- vides services for same-sex weddings against their reli- gious convictions. The Equality Act is not about equality. It is about forcing the LGBTQ agenda on all Americans. America is supposed to be about freedom. Remember? Star Parker is president of the Center for Urban Renewal and Education and host of the weekly television show "Cure America with Star Parker." 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