Tuesday, October 22, 2013 2013 Update Speaking of The Republic of New England, our board of conveners has tackled (and solved, we hope) the problem of the national debt in our negotiation with the U.S.A. Our stated policy is to repudiate any share of their debt. We consulted international lawyers and got some support from the example of the Baltic republics in reestablishing their independence after the collapse of the Soviet Union. Inasmuch as Latvia, Estonia, and Lithuania were formerly established nations, they were under no obligation to share the financial burdens of a reconstituted Russia. If the U.S.A. ceases to exist after the separation of a number of its states, it may be simply an aggregation with no joint financial obligation. The so-called European Union is an example of that. Our precedent will be the short-lived Republic of Vermont, which existed until ratification of the U.S. constitution. It has now a secession movement which can be the legal nucleus of a larger republic. We eagerly await developments in Texas, which has an even stronger case for separation. There is also some talk of booting California out of the U.S., but that seems to come more from outside the state. Of course, we might manfully step up and assume some responsibility for the U.S. national debt, provided we get to keep all the military installations and equipment. We would write a no-interest, balloon payment note, payable in 30 years. By that time, we figure the value of the dollar will be such that we can pay off the note by subscription from patriotic citizens. We dont plan to incur any provincial or federal debt, period. We pay cash. We keep a sharp watch on newly established nations, whose success varies according to the parsimony of their founders. We like Slovenia for its mountainous landscape, first-class skiers, and beautiful prime minister; but it has run up severe banking problems. We like Lithuania for its sturdy fiscal management. As New Englanders, we subscribe to our ancient mantra: Use it up, wear it out; make it do, or do without!
Posted on: Mon, 01 Sep 2014 12:57:14 +0000
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