Legislative Control Tactics and the Battle Over Energy and Monetary Policy

On this Thursday, April 20, 2023 broadcast, Kim Monson examines how government at both state and federal levels uses procedural tactics to expand control over citizens. Colorado State Representative Stephanie Luck exposes legislative maneuvers, energy CEO Bob Boswell analyzes the Biden administration’s contradictory energy policies, and banker Jay Davidson explains how Federal Reserve decisions drive inflation.

Legislative Overreach Through Safety Clauses and Gifts, Grants, and Donations

Start listening at 19:42 – Hour 1

Representative Stephanie Luck, representing Colorado House District 60, joins Kim to discuss concerning trends in the 2023 legislative session. She explains how the Democrat majority is using procedural tactics to silence minority voices and prevent thorough vetting of legislation. Of the 655 bills introduced, 257 contain the safety clause, which makes laws immediately effective and prevents citizens from petitioning to put them on the ballot for voter approval.

Luck also sounds the alarm on the Gifts, Grants, and Donations (GGD) clause being inserted into legislation. This mechanism allows government programs to be funded by outside donors rather than taxpayers, effectively circumventing TABOR restrictions on government spending. She explains how this transforms taxpayer-funded government into a nonprofit-like entity that can fundraise independently, consolidating power in the executive branch and eliminating legislative oversight of the purse. In positive news, Luck reports that the assault weapons ban was killed in committee overnight by a 7-6 vote.

“46 percent of the electorate who voted in the 2022 state house elections are not being represented, a vote of Republican in those elections, are not being adequately represented and bills are not being thoroughly vetted. It’s an unfortunate demonstration of poor governance.”

Stephanie Luck, Colorado State Representative, House District 60

Federal Reserve Policy, Inflation, and the Devaluation of the Dollar

Start listening at 69:24 – Hour 2

Jay Davidson, CEO and founder of First American State Bank, provides a detailed explanation of how Federal Reserve monetary policy has caused the current inflationary environment. He explains that since 2009, the Fed printed $9 trillion through quantitative easing, creating excess money supply that devalued every dollar in circulation. Davidson argues that inflation and dollar devaluation are two sides of the same coin, and the Fed’s solution of raising interest rates will create a recession without solving the underlying inflation problem.

Davidson also dissects the Silicon Valley Bank failure, attributing it to gross mismanagement. The bank doubled in size by taking in over $100 billion in deposits, then invested in 10-year treasuries without matching the duration of their liabilities. When the Fed raised rates 475 basis points in one year, the bonds lost value, and a Twitter-fueled bank run caused $40 billion in withdrawals in hours. He notes that SVB’s management was distracted by woke DEI and ESG initiatives rather than focusing on fundamental banking practices. Despite the challenges, Davidson expresses optimism that Americans will wake up to the dangers of government control and reclaim individual freedom.

“All recessions are a monetary, quote, policy decision. All recessions occur because of Fed Reserve intervention in our economy. And here’s another example of it.”

Jay Davidson, CEO, First American State Bank

Biden’s Alaska Pipeline Approval and the Politics of Energy

Start listening at 34:54 – Hour 1

Bob Boswell, CEO of Laramie Energy, explains the Biden administration’s surprising approval of an 800-mile natural gas pipeline in Alaska. The project will transport gas from the massive Prudhoe Bay oil field, where 7 to 10 TCF of gas has been re-injected for years, to a liquefaction plant on the Kenai Peninsula for export primarily to Japan. Boswell notes this decision serves both economic and national security interests by providing Asian allies with an alternative to Russian gas.

Despite this common-sense move on Alaska, Boswell warns that Colorado legislators continue attacking the oil and gas industry with multiple burdensome bills. He highlights the Bacon Act, which would effectively end oil and gas development in the state, though he expects Governor Polis would veto it. Boswell explains how environmental policies are used as political weapons based on false premises about climate catastrophe, when in reality CO2 is nature’s fertilizer and the earth thrives at higher levels.

“Fossil fuels, hydrocarbons are a political weapon. They’re not a real issue from a climate standpoint, particularly natural gas, which burns into CO2 and water. And the CO2, while that can be a climate issue, we’re only at about 400 parts per million right now. The earth thrives at 1,000.”

Bob Boswell, CEO, Laramie Energy