From: "Frank Q" 
To: "Kristopher Barrett" ,
        
Reply-To: "Frank Q" 


Is the "bankruptcy" a new telescope design ??

----- Original Message -----
From: "Kristopher Barrett" 
To: 
Sent: Wednesday, March 05, 2003 10:03 AM Subject: ATM RE: General Debt
Strike ( was: RE: amerikan hegemony )


>
> >> Perhaps the people in the peace movement should start gathering
> >> pledges from middle-class folks.... pledges to immediatly declare
> >> Chapter 7 federal Bankruptcy the instant US troops land in Iraq.
> >
> >
> > Well, I am no expert on the laws in the USA, and I'm not sure exactly
> > what Chapter 7 federal bankruptcy entails, but this sounds like
> > a good idea to me.
>
> Basically, the court cleans out your savings account, and any luxury goods
> in excess of limits set by individual states. Usually that means they
> can't take your clothes, basic household goods, tools needed to do work, a
> single used car, and your firearms.
>
> Real estate title can have a lien placed against it, but patented (
> homestead and mining act ) property can't be touched.
>
> If you are an average apartment dwelling middle-class american, you can
> walk away free from your entire debt, and only lose the ability to declare
> bankruptcy again within the next several years.
>
> A web search of the words "Bankruptcy chapter 7", and
limited to .com and
> .gov domains will turn up plenty of info on US bankruptcy.
>
> > I do have experience of being declared bankrupt under Scottish law.
> > Right after Christmas 1992 I received a letter from the Montrose branch
> > of the Bank of Scotland about me owing them so much money. I immediately
> > wrote back to them saying that I was thinking of voluntarily declaring
> > myself bankrupt. This terrifies the banks. The local bank manager came
> > round to my house to see me on New Years Day. Now, of course New Years
> > Day is a bank holiday in Scotland, and a day when any self-respecting
> > Scot is either suffering from a hangover or starting to get drunk
> > all over again. Yet the bank manager considered the possibility
> > of a customer voluntarily becoming bankrupt such a threat, he came round
> > to wish me Happy New Year and beg me not to do it. He said
> > they would arrange whatever very easy terms I wanted for repayment, but
> > please don't go bankrupt.
>
> Heh. The banks in the US were so afraid of this during the recent stock
> crash, that they treid ( and failed ) to get congress to remove Chapter 7
> from the books.
>
> > So while I'm no expert on the law in the USA, if my own experience of
> > bankruptcy is anything to go by, I would think the US banks would be
> > shitting themselves at the prospect of organised mass bankruptcies.
>
> Yep. Not only does it hit them where it hurts, but it also is of great
> benefit to the protestor. And it gives people who are still laboring under
> the capitalist work ethic delusion an excuse to dump these chains without
> feeling guilty about it.
>
> > Thank you, Kristopher. This is great. We are actually having
> > a serious discussion about ways to effectively oppose this war.
>
> Just trying to keep my mind on the real enemy. We have all got better
> things to do then take out our frustration with the State out on each
> other.
>
>
> --
> Regards,
> Kristopher Barrett    http://www.cotse.net/users/kbarrett
>
>
>

--- BBBS/NT v4.00 MP