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Blogger/Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Wednesday, June 10, 2009

SCOTUS Approves Obama's Re-engineering of U.S. Bankruptcy law

[ARRA Editor Comment: The following person is understandably so frustrated that he plans to leave the U.S. As for me, I plan to stay and to work for our rights - all of them!] by Curtis R. Pack: The Supreme Court just approved King OBAMA’S re-engineering of U.S. Bankruptcy law.

For the last 238 years we had a fair and just set of rules that governed bankruptcy proceedings. A secured Bond holder which is defined as the investor who had loaned money secured by the assets of the borrower (in this case Chrysler) would be first in line in a bankruptcy. This is based on property rights, the person with the most rights based on property would be the most secured. The second in line would be unsecured Bond holders, the third in line would be share holders, and all other creditors would then be sorted out by the court.

This bankruptcy was turned upside down so that a criminal President could reward his friends "the Labor Unions." Who had the least amount of property rights to be moved to the top. We now live in a country where the three branches of government have proven to the American people that we have now been deprived of the most precious guarantee in the Constitution, the pursuit of happiness, which was the guarantee to the fruits of our labor, property.

Property was the foundation of our nation it was the peoples check on government power. But, it has been eroded over time. The first assault on property was the Income Tax. The income tax effectively removed our property rights by instituting a direct tax on property and gave the federal government the first position on property rights, money is not only property, It is the basis for all of the property we acquire. The IRS over the last century has removed property rights through seizures of property and the violation of due process. "No man is more enslaved than he who falsely believes himself to be free" (Goethe).

This is the first time in the history of the Supreme Court that they have ruled against our Constitutional right to property. The court has looked the other way regarding the IRS and other property rights violations, but this is the first time they have given it a stamp of approval. People this is the most egregious ruling in the history of the court, they have just ruled this a communist country and have given a green light to whatever type of Socialism or Fascism the government may choose for us.

I now know how Patrick Henry felt, when in frustration he rose to his feet and with anger to his countrymen declared "give me liberty or give me death." We have become a nation of self indulgent cowards who do not have any appreciation for the sacrifices that so many before have made in order to secure the greatest nation on earth and the liberty it guaranteed, well that nation no longer exists. We live in a nation where a majority of our population wants to be cared for like feedlot cattle.

I have never been so outraged at the people of this country more than now. We are watching a man that is not constitutionally eligible to Serve as President turn our country into a fascist banana republic and all I hear is "what's in it for me." I am leaving America and moving to Costa Rica. If there comes a day when the people of this country grow a backbone, I will come back and do my part. It is a sad day when you have to move out of America to live in a free country one that still respects your property and other god given rights.

I will sum this up one more time. The Supreme Court just removed the one provision of the constitution that secured all of the other guarantees of the Constitution "property."

I will leave a final thought and will let Samuel Adams speak for me: "If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom. go home from us in peace. We seek not your counsel, nor arms. Crouch down and lick the hand that feeds you; may your chains set lightly upon you, and may posterity forget that ye were our countrymen." You can forget the part about wealth.

Tags: bankruptcy, Barack Obama, property rights, SCOTUS, US Supreme Court To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 11:01 AM - Post Link


Anonymous control valves said...

Thanks for the information. You have a great blog.

Anonymous Anonymous said...

You are right: The bankruptcy laws that this administration has just bastardized have worked to protect property rights in the past. Now with the right to property gone we are nothing more than serfs in the system. We have a choice, bow down or start standing up. If they are allowed to continue taking us down this path we will wake up one day with freedom of speech and 2nd amendment rights just as gone.


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