Letters to the Editor

Letters: Write me in for Durham County sheriff on election day

Boykin for sheriff

Every election is important, and this year we have an opportunity to elect a sheriff who advocates fair treatment for all of our citizens. This is the time to elect a sheriff who’s not afraid to engage with our neighbors and who’s willing to walk and talk to the people in all areas of our community and whose administration will work for your respect.

You the voters control the future of your Sheriff’s Office and it’s up to you to vote for a sheriff that puts the people of Durham County first. Your concerns are our concerns.

We will make a commitment to our county Jail to improve the quality of life and safety for the inmates under our care; we will ensure the safety and security within and around our courthouse; we will make a concerted effort to protect the women in our county from abuse and charge and arrest the violators of protection orders; we will follow up with the victims of these orders to help provide guidance and to give them a sense of security in their time of need; we will protect our citizens from ICE detainers that separate our families; we will visit our neighborhoods and schools in outreach and discuss any problems you may have; we will rip apart the perception of law enforcement in our community targeting and abusing our citizens and respect our family, friends and neighbors for who they are.

This election will be difficult to win due to my write-in status but if we share the word to vote for me, and write my name George Boykin in as your choice for Durham County sheriff, we can have a new beginning of law enforcement for our family and friends, for our County. I’m asking for your support and we will give our best efforts to you in the service and protection you deserve from your Sheriff’s Office. Thank you

George Boykin

Durham

Stop canceling classes

Parents of Chapel Hill-Carrboro schools were just informed that classes are cancelled Thursday (Oct. 11) for impending inclement weather. The Nervous Nellies at the school board have got to stop canceling classes for every stray cloud. Kids belong in school, and it is a great disruption to working parents when they can’t go.

The fearful closure in advance of Florence was a day too early – not a drop of rain or gust of wind that Thursday. Now they are doing it again in advance of a storm that is only just making landfall in Florida and might come this way. Ridiculous.

The response, of course, will be the old saw “an abundance of caution,” which is just lame. Short of actual flooding that closes streets, or a loss of power, school needs to be open. The superintendent and senior staff need to show more respect for upending the lives of working parents than to be canceling school willy nilly on the possibility of a chance of maybe some likelihood of a storm kind of nearby.

There is an old British expression, from a country that knows bad weather: there is no such thing as inclement weather, there is merely inappropriate clothing – and overreacting school officials.

Gregory Morris

Chapel Hill

Friendly fractions

Most people now realize the Federal Reserve creates new dollars “out of thin air.” The newly issued dollars make the dollars in our pockets worth less. Because the dollars are worth less, merchants adjust their prices to offset the loss. And this is what we call inflation.

Although the government tells us inflation is low, it is important to know that the government’s method of calculating inflation was changed to make inflation appear lower. If the calculation used in 1990 were used today inflation would be closer to 6 percent than the official rate of 2 percent.

Inflation is a hidden tax on all of us. But banks also create new dollars “out of thin air.” For many decades, banks have practiced Fractional Reserve Lending policies. Banks are allowed to lend nine times their capital. To illustrate this, let’s suppose that Friendly Bank has just been created and after startup expenses, it has $1 million in capital. How much can it lend? The answer is: it can lend $9 million.

Does any of its $1 million in capital leave the bank? Nope. Before it lends $9 million it has $1 million in cash and after the loans it still has the $1 million in cash. Wow, what a business!

Now where the rub comes in is where the Smith family borrows $1 million to buy a house. But tragedy hits and Mr. Smith loses his job. Since he can’t make the required payments, Friendly Bank forecloses. So Friendly Bank still has its original $1 million in cash and now owns the Smith house. Lets assume that Friendly Bank sells the Smith house for $600,000. The bank now has its original $1 million in cash and $600,000 from selling the Smith house. Now it can loan out $14.4 million.

Would the courts allow this? Well in one early case, the court denied the bank’s effort to foreclose on the basis that there was no consideration given since the bank gave up nothing. But that decision faded away and has never been brought up again. Banks routinely foreclose on homes when payments are not made today. Maybe this helps one to understand how banks are so profitable and bankers so rich and powerful!

Don Stacey

Hillsborough

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