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Category Archives: Debtors’ Prison

What comes after the welfare state collapses?


WelfareState1ZeroHedge published an article entitled, “Now The Pain Begins: S&P, Moodys Cut Illinois To Near Junk, Lowest Ever Rating For A U.S. State.” The article dealt with Illinois’ growing financial problems.

Excerpts:

Today, in the span of a few hours, two credit-rating agencies (first S&P, then Moody’s) downgraded Illinois bonds to BB+ and Baa3, respectively—both just one notch above junk, the lowest rating ever given to a U.S. state. Both agencies cited Illinois’ long-running political stalemate over a state budget as showing no signs of ending.

S&P warned that Illinois is at risk of soon losing its investment-grade status, an unprecedented step for a state that would only deepen the government’s strain. Bypassing its traditional 90-day review, S&P said Illinois will likely be downgraded around July 1, when the new fiscal year begins, if leaders haven’t agreed on a budget that starts addressing the state’s chronic deficits.

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Armed Debt Collectors = Government Desperation


Government Debt Collectors [courtesy Google Images]

Student Loan Debt Collectors
[courtesy Google Images]

In last week’s article, Placebo Economics, I compared the Federal Reserve’s primary strategies (Quantitative Easing and Zero Interest Rate Policy) for dealing with the recession to medical “placebos”.  I.e., they had little or no fundamental effect in themselves, but might still be useful so long as the public believed in them.

I wrote in part:

 

“ZIRP [Zero Interest Rate Policy] and QE [Quantitative Easing] have failed in Japan, the EU and US because the [people] no longer believe in the efficacy of those economic “placebos” or the wisdom of our “witch doctors” in the Federal Reserve and/or federal government.

“Once we stop believing in the ‘witch doctors’ at the Federal Reserve, how will the Fed ever restore our belief and confidence in their economic placebos?  Once we know that our witch doctors have nothing real (like gold- or silver-based money) to offer us and can only provide intrinsically-worthless placebos (fiat dollars; promises to pay rather than actual payments), the economy will not be healed by mumbo-jumbo and our economic witch doctors may be run out of town on rails.

“If the previous conjecture is roughly correct, the way back to prosperity will not be achieved by means of more placebos.  It will be achieved only by means of hard work and the “real medicine” of physical gold and silver.”

I was mistaken.  There is another possible “way” back to prosperity besides by means of hard work, gold and silver.  I don’t think this alternative “way” will work.  But the temptation to try it will be almost irresistible.  I have little doubt that that “way” will be tried by the Federal Reserve and/or the federal government.

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Pledges of Servitude?


13th Amendment of the nited States Constitution.

Image via Wikipedia

A friend of mine (Rick) is facing charges for four traffic tickets.  He sent a copy of his defense to me.  It’s pretty good.  It’s not exactly what I’d do, but nothing is.

But I did notice one omission that struck me as potentially important:  In challenging the gov-co’s authority, Rick had denied that he’s a slave or subject to involuntary servitude (as prohibited by the 13th Amendment) but he neglected to deny that he had entered into a voluntary servitude (a fiduciary relationship) with the court, plaintiff, prosecutor, state, real party in interest, or even to the actual defendant “RICK DOE” (rather than “Rick Doe”) etc.

I can’t prove it, but I strongly suspect that the system relies on the presumption that each living man or woman (“Alfred Adask”) has knowingly entered into a voluntary servitude as fiduciary for the government, the plaintiff and/or the defendant identified by the all-upper-case name (“ALFRED N ADASK”).

I sent Rick an email reply that outlines some of my notions in greater detail–especially relative to pledges.  My understanding of “pledges” is rudimentary but growing. My email reply follows:

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Pension Ponzi Schemes (pPs)


Two years ago, I realized that the total American debt was too great to ever be repaid in full, so I wrote a series of article that belabored the obvious:    What can’t be paid, won’t be paid.

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A Moral Obligation to Pay Immoral Debts?


In A.D. 2008, Arizona installed 76 highway cameras to catch speeders. Last Thursday, Arizona disconnected those cameras.

The cameras generated more than 700,000 photo-tickets in the first year and should’ve produced $90 million in fines. But gov-co collected only $30 million because 70% of the drivers simply ignored the tickets. Some shot at or otherwise sabotaged the cameras.

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Debtor’s Prison or Breach of Fiduciary Obligation? A Habeas Corpus that Worked.


Over the years, I’ve seen scores of habeas corpus petitions.  Virtually all have failed to cause a prisoner to be released.  In fact, I’ll bet that at least 95% (and probably 99%) of all petitions for writ of habeas corpus are routinely dismissed by the courts.

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