by Martin Armstrong, Armstrong Economics:
A recent measure from the Biden Administration touted as a solution to lower prescription drug costs has a more sinister motive. The Bayh–Dole Act or Patent and Trademark Law Amendments Act of 1980 permitted researchers to own the patents of their products developed through government funds. The legislation permitted “march-in” rights that enabled these agencies to grant a license on their patents to third parties. For the first time in four decades, the federal government wants to invoke this measure as they are losing both money and power amid this private wave.
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Codified by 35 U.S.C. S 203, the march-in rights permit the federal government to require contractors to hand over “nonexclusive, partially exclusive, or exclusive license” to a “responsible applicant or applicants.” Around 5% of patents were licensed out before the Bayh-Dole Act compared to around 69% today. On the surface, one may view this as an effective way to push back against prescription price gouging but this is an outright attack on private enterprise.
This measure is not limited to prescription medications as it expands to ever patent created through government funds, meaning every single industry could be usurped by Washington. Had the government actually wanted to lower prescription prices, there are countless measures and legislations that they could pass to do so. Instead, they are directly targeting private enterprises, no different from any communist nation.
Seizing private property has never benefitted the people of any nation. It has been attempted and tried countless times and always results in disaster. The Founding Fathers deliberately forbid this from happening in the Fifth Amendment of the US Constitution.
Amendment V
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a grand jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
Most know the right to remain silent provided by the Fifth Amendment. There is a “takings clause” clearly written in the Constitution that forbids the government from seizing private property.
The US Supreme Court misconstrued this clause in KOHL v. US , 91 U.S. 367 (1875). The government decided to seize private property from landowners in Cincinnati to create public infrastructure. This case is largely cited as the beginning of eminent domain discussions and the US Supreme Court ruled in favor of the Federal government, so long as they provided “just compensation.” The court ruled that the government may asses the value and pay whatever they wish.
The government and globalists have been searching for ways to use to ruling to seize private property. Most cases surrounded public infrastructure until recently. In 2023, JPMorgan Chase CEO and World Economic Forum member Jamie Dimon told shareholders that “governments, businesses and non-governmental organizations” may need to invoke “eminent domain” in order to get the “adequate investments fast enough for grid, solar, wind and pipeline initiatives.”
The power provided by the pandemic tipped the scales in favor of the government over the people. Implementing socialism would be the fast-track way to achieve the World Economic Forum’s objective—YOU WILL OWN NOTHING AND BE HAPPY. Dimon suggested using the excuse of climate change to usher in the Great Reset. “The need to provide energy affordably and reliably for today, as well as make the necessary investments to decarbonize for tomorrow, underscores the inextricable links between economic growth, energy security and climate change. We need to do more, and we need to do so immediately,” Dimon added in his message to shareholders.
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