Theme: Institution

  • Why? We’ve been too overloaded to launch a bank, but I’be been interested for te

    Why?
    We’ve been too overloaded to launch a bank, but I’be been interested for ten years, and as an organization, we’ve been discussing it for more than four years. Some of the team is advocating we accelerate our timeline, to assist both in anti-canceling (de-banking) and to hold it in trust for asset protection (divorce protection, creditor protection).

    Now my opinion is that the pressure for anti-canceling and divorce reform is accumulating sufficiently fast enough to cause those reforms within the decade. But given the divisiveness in the polity that’s not something to count on.


    Source date (UTC): 2024-07-20 01:14:35 UTC

    Original post: https://twitter.com/i/web/status/1814468918288801792

  • It takes 10,000 people to contribute $500 each to start a bank that provides can

    It takes 10,000 people to contribute $500 each to start a bank that provides cancel-free banking services.
    It takes $20 a per person month and 24 months to for each person accumulate $500 investment – ie: buy a share of stock.
    It takes a small number of individuals to create an irrevocable trust that then owns that bank.
    That trust can be created such that all assets contributed to the trust prior to marriage cannot be considered in divorce.
    Some states include Domestic Asset Protection Trusts specifically insulating assets from divorce proceedings.


    Source date (UTC): 2024-07-20 00:53:05 UTC

    Original post: https://twitter.com/i/web/status/1814463506789609477

  • It takes 10,000 people to contribute $500 each to start a bank that provides can

    It takes 10,000 people to contribute $500 each to start a bank that provides cancel-free banking services.
    It takes $20 a per person month and 24 months to accumulate $500 investment.
    It takes a small number of individuals to create an irrevokable trust that then owns that bank.
    That trust can be created such that all assets contributed to the trust prior to marriage cannot be considered in divorce.
    Some states include Domestic Asset Protection Trusts specifically insulating assets from divorce proceedings.


    Source date (UTC): 2024-07-20 00:53:05 UTC

    Original post: https://twitter.com/i/web/status/1814459211683602432

  • TRUSTS VS LLC, S-CORP, C-CORP A trust requires someone trustworthy to manage it:

    TRUSTS VS LLC, S-CORP, C-CORP
    A trust requires someone trustworthy to manage it: a trustee. This is the only ‘risk’.
    If a trustee steals from a trust it is a crime and prosecutable.
    A trust may operate for financial gain.
    A trust main hold a corporation as an asset.
    A trust is taxed like an individual taxpayer.
    A group of people or families can essentially contribute assets to a trust to protect them.
    If assets are placed in an irrevocable trust before marriage, then they are insulated from spousal seizure during divorce proceedings – if specified in the trust. (Some people might want those assets to go to a spouse at death for example.)
    Beneficiaries can leverage assets in trust for the purpose of credit.
    Even Houses can be placed into trust.
    If a trust does not distribute income, it pays tax at the rate of the total income from the trust. A trust can distribute income and individuals pay tax according to the tax rate of the individual parties, and as such not force all parties to pay the tax rate of the aggregate income of the trust.

    Basic Benefits:
    1) asset protection.
    2) probate evasion and intergenerational transfer.

    Limits Too Benefits:
    1) If a beneficiary has too much control over the trust (such as a self-settled trust where the grantor is also a beneficiary), creditors may argue that the assets should be available to satisfy the beneficiary’s debts.
    2) Alimony and Child Support: Courts may order distributions from a trust to satisfy alimony, child support, or other family law obligations, particularly if the trust was funded by the grantor.
    3) Piercing the Trust Veil: In some cases, courts may “pierce the trust veil” if they determine that the trust is essentially a sham or an alter ego of the grantor, meaning it is not being used for legitimate asset protection or estate planning purposes.

    So, effectively, joining a large scale trust is equivalent to joining a medieval monastery. Which is fascinating. 😉

    Reply addressees: @DwightExMachina @FestivusQueen @verymoisturized


    Source date (UTC): 2024-07-20 00:07:51 UTC

    Original post: https://twitter.com/i/web/status/1814452122689077248

    Replying to: https://twitter.com/i/web/status/1814444900777160846

  • RT @WerrellBradley: TRUST AND SOVEREIGNTY This item outlines the value of Trusts

    RT @WerrellBradley: TRUST AND SOVEREIGNTY

    This item outlines the value of Trusts in providing legal protection from legal action for indiv…


    Source date (UTC): 2024-07-19 23:22:06 UTC

    Original post: https://twitter.com/i/web/status/1814440610100637725

  • BITCOIN (CRYPTO IN GENERAL) IN THE CONTEXT OF TRADE MEDIA I’ve been distributing

    BITCOIN (CRYPTO IN GENERAL) IN THE CONTEXT OF TRADE MEDIA
    I’ve been distributing this graphic since around 2012 in order to explain Bitcoin in the context of other media. And as far as I know, no one’s falsified it. BTC is a stock that can be purchased on the BTC network (Stock… https://t.co/5rLnLjKcG4


    Source date (UTC): 2024-07-18 16:44:37 UTC

    Original post: https://twitter.com/i/web/status/1813978189938504104

    Replying to: https://twitter.com/i/web/status/1813963469433254391

  • (NLI Humor) In Martin Stepan we have created a monster. 😉 The good kind. 😉 The

    (NLI Humor)
    In Martin Stepan we have created a monster. 😉 The good kind. 😉

    The truth is that all our Fellows are very good at what we do. But then Martin sticks out, because he is the most willing and able to articulately state the truth in a manner that is direct, humbling, and sometimes humiliating – and has no mercy for sacred cows. 😉

    I mean, at least I have a reputation for compassion for the slaugher of sacred cows.

    Martin doesn’t. 😉


    Source date (UTC): 2024-07-16 16:54:05 UTC

    Original post: https://twitter.com/i/web/status/1813255796324503552

  • (FWIW: I forgot ‘customary law’)

    (FWIW: I forgot ‘customary law’)


    Source date (UTC): 2024-07-16 02:58:56 UTC

    Original post: https://twitter.com/i/web/status/1813045623475622307

    Reply addressees: @cryptohodler16

    Replying to: https://twitter.com/i/web/status/1813044596747694441


    IN REPLY TO:

    Unknown author

    I’m not sure what point you’re making, but I suspect you’re committing a common fallacy of failing to disambiguate a term by how it’s enforced.

    Laws of Nature: Enforced by the laws of the universe.
    Command Law: Enforced by a political monopoly on power (PMoP).
    Legislation, Regulation, Findings of the Court: Enforced by a PMoP.
    Normative Laws: Enforced by social and economic ostracization.
    Rules: enforced by private actors.
    Guidelines: enforced by self regulation.

    Original post: https://x.com/i/web/status/1813044596747694441

  • RT @LukeWeinhagen: Malcompetence is a fantastic frame. When I speak of the disti

    RT @LukeWeinhagen: Malcompetence is a fantastic frame.

    When I speak of the distinction between captured institutions (or capital in gener…


    Source date (UTC): 2024-07-16 00:11:52 UTC

    Original post: https://twitter.com/i/web/status/1813003582553346220

  • THE NEAR UNIVERSAL IGNORANCE OF THE EMPIRICAL BASIS OF OUR LEGAL SYSTEM Why Don’

    THE NEAR UNIVERSAL IGNORANCE OF THE EMPIRICAL BASIS OF OUR LEGAL SYSTEM
    Why Don’t You Know About Commonality and Concurrency – and Why Don’t Our Lawyers, Legislators, and Judges?

    Law Is Taught As Carpentry Not Architecture
    Legal education often focuses on specific doctrines, case law, and statutory interpretation rather than overarching philosophical concepts unless in a constitutional law, jurisprudence or decidability. Worse most have no understanding of behavioral economics, macroeconomics, or political economy.

    Studying the Trees And Ignoring the Forest
    The concepts of “commonality” and” concurrency” are embedded in legal principles but not explicitly labeled as such. Terms like “precedent,” “equal protection,” “due process”, and “bicameralism”, are more commonly used.

    Basic Principles Missing In Legal Education
    In the law, particularly American law, if less so British, we require Concurrency of populations (house), states (senate), legislatures (electoral college) in voting and legislation (positiva) AND Commonality of decisions across classes and regions in dispute resolution in court (negativa) to produce legitimacy of the construction of law, AND Settled Law in the population – thus ending conflicts.

    It’s Just Science
    These are both empirical processes insure both sovereignty of the people by consent of the regions and classes in voting and legislation, and commonality in the resolution of disputes, which together protect the interests of the minority against the majority and where both are required under the common law, where the people are sovereign, because there is no alternative to that empiricism.

    The Opposite of Majority Democracy
    We do NOT live in a democracy. We live under the Natural Law of Sovereignty, Reciprocity and Duty, codified in a Constitution, forming a Republic, prohibiting violations of sovereignty reciprocity and duty, and by use of concurrent voting, across classes and regions, thus protecting the minority from the majority by insuring people agree (consent) to a statute, even if by proxy through elected representatives, before the enactment of legislation and regulation (statute law) where conflicts are resolved in the Court, by findings of the Court (‘judge discovered law, but not judge made law’), by adversarial competition before a judge and jury of their sovereign peers.

    Accumulated Ignorance Because of Lack of Recording in the Constitution
    In other words, we have lost the understanding of the fact that the constitution produced an empirical (scientific) method of governance. And it is the only one extant, despite the efforts of such petty theorists as Rez, Kelsen, Dworkin, Rawls and so many others so less competent and knowledgable than their ancestors.

    The Solution
    Of course, my life’s work seeks to correct this problem with a formal science of decidability applied to law, policy, and economy. But if it was easy someone would have done it before me – instead of inventing sophistry by which to empower elites to circumvent the people, even if the people are so frustrated by the process that they might wish it – at their peril.

    Affections
    Curt Doolittle
    The Natural Law Institute


    Source date (UTC): 2024-07-15 23:42:30 UTC

    Original post: https://twitter.com/i/web/status/1812996191304503296