I've heard the gang initiation thing before. Around here, flashing brights is for:
1. someone not having their headlights on
2. warming of ingress to speed trap
3. yielding to someone/indicating for someone to go at 2+ way stop
4. informing someone that their brights are on
It doesn't have to be brights either....hazards, lo beams, and fog lights work just as well.
I stopped doing it except at 2,3,4 way stops or to indicate to a semi or something that I'm letting them in front of me at a merge. In the case of the latter, a flash of the hazards in return is a 'thank you' from them.
I recall there being a court case or otherwise a ruling of some kind that basically equated flashing lights to warn other motorists is actually a freedom of speech/expression and was protected by the 1st Amendment. I don't recall at what level that was ruled, though.
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