The fringe has no real significance.

The code for the flag indicates that gold fringe is allowed as a decoration, but has no meaning.

I don't believe it means admiralty law which was the original theory about the fringe, and definitely not martial law. There is no martial law flag.

However, I believe we are in a state of war. The military is running the show. The signs are everywhere. Devolution is in play, and when Trump says about his return "You'll be very happy", he can say that because he is the 19th president of the original constitution, probably along with John F. Kennedy Jr as VP.