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PaperclipPerfector  10mo ago (text post)   24146 thread views

Culture War Roundup for the week of June 10, 2024

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It seems like the push finally came to shove for Alex Jones, as he will have to liquidate pretty much almost everything he has to pay the $1.5 billion dollar settlement after the Sandy Hook defamation lawsuit went the plaintiffs way. Via AssociatedPress:

Conspiracy theorist Alex Jones is seeking court permission to convert his personal bankruptcy reorganization to a liquidation, which would lead to a sell-off of a large portion of his assets to help pay some of the $1.5 billion he owes relatives of victims of the Sandy Hook Elementary School shooting.

Jones and his media company, Free Speech Systems, both filed for bankruptcy reorganization after the Sandy Hook families won lawsuits against him for his repeatedly calling the 2012 shooting that killed 20 first graders and six educators in Newtown, Connecticut, a hoax on his Infowars programs...

...Liquidation could mean that Jones would have to sell most of what he owns, including his company and its assets, but could keep his home and other personal belongings that are exempt from bankruptcy liquidation. Proceeds would go to his creditors, including the Sandy Hook families.

If Free Speech Systems’ case is withdrawn, the company would return to the same position it was in after the $1.5 billion was awarded in the lawsuits and it would send efforts to collect the damages back to the state courts in Texas and Connecticut where the verdicts were reached.

Jones already has moved to sell some of his personal assets to pay creditors, including his Texas ranch worth around $2.8 million.

But a liquidation of Jones’ and his company’s assets would raise only a fraction of what he owes the Sandy Hook families.

According to the most recent financial statements filed in the bankruptcy court, Jones personally has about $9 million in assets, including his $2.6 million Austin-area home in Texas and other real estate. He listed his living expenses at about $69,000 for April alone, including about $16,500 for expenses on his home, including maintenance, housekeeping and insurance.

Infowars’ parent company, Free Speech Systems, which employs 44 people, had nearly $4 million in cash on-hand at the end of April. The business made nearly $3.2 million in April, including from selling the dietary supplements, clothing and other items that Jones promotes on his show, while listing $1.9 million in expenses.

Considering $9 million is more than 100 times less than what he owes, I don't see any other way for this to end in his completely left in the dust, with no business media, no career in journalism (at least as a self-owned publication, though I doubt anyone wants to hire him, and I don't think him having a Rumble channel with no structure to back him is going to bring him that much money). His only hope involves a Hail Mary crowfunding moneybomb from his supporters and people annoyed by the veredict a la Trump, but even if he raises as much as Trump, he's still owing hundreds of millions left, and I doubt he could even reach that point; not only we're talking about somebody not as popular, but the specifics of the case do touch sensitive spots (nobody likes someone stating falsehoods about dead children)

Comment from ZeroHedge:

The $1.5 billion settlement for claiming an event didn’t happen the way it is popularly believed to have happened was always absurd and had nothing at all do to with justice delivered to the families who lost their kids in Sandy Hook and everything to do with silencing a voice long a thorn in the side of the establishment, which the lawyer essentially concedes in the above quote about the ruling not just being about money — lawfare waged via a weaponized legal system I wrote about in detail when the ruling came down from on high last year.

Please miss me with comments about how Alex Jones is an unhinged pseudo-evangelical lunatic with a drinking problem or whatever. The vast majority of Alex Jones haters, in fact, have never listened to a single hour of his broadcast. Their negative impression of him comes entirely secondhand from ten-second clips and the non-stop, orchestrated bleating of hostile corporate media — a consensus-forming propaganda campaign of, arguably, unprecedented scale targeted at a single individual in the 21st century.

But anyway, I’m not here to do apologia for Alex Jones or to sell him to anyone; I am aware of his flaws, as I am aware of my own. We all live in glass houses...

...The Alex Jones censorship sage is not about Alex Jones.

When Jones was universally banned overnight from all major social media platforms in 2018 in what was clearly an orchestrated move among the Big Tech giants, that was an allusion to things to come.

It was only two years later, if that, that the mass censorship regime came for all dissident media, including me when I got the banhammer from multiple platforms in 2020 for “COVID misinformation” and other alleged crimes of wrongthink.

It’s InfoWars today and the rest of us tomorrow.

Two things that come to my mind:

First, from what I understand, the final payment number came from Alex Jones not being willing to disclose his net worth, which allowed to the plaintiffs to imagine an infinite net worth if they wanted to. But once the books are finally displayed, does that make sense? And even if he hadn't, why isn't the level of damage caused to the plaintiffs part of equation to lower the number? Isn't this institutionalized debt slavery as punishment for what is at the end of the day an civil case? Don't get me wrong, as a libertarian I certainly don't oppose debt slavery for a sort of tort system where crimes are punished with payments; but it has to be equivalent to the crime and the criminal's means; $1.5 billion would be too much of a punishment for Adam Lanza, the actual sicko who murdered the children in Sandy Hook, let alone for the guy who espoused things that weren't true about the shooting. Is he even going to able to ever pay for it entirely?

Secondly, isn't this simply a completely disproportionate answer to Jones sins? Yes, he went on for too long with this charade and should had never started it in the first place, not to mention that his claims didn't went against the NWO or the globalist elites that he despises, but against parents of dead children, claiming that the most emotionally painful thing that had ever befallen them was something they were lying about on TV. However, is he responsible at all for the fact that his followers went too far and harassed those people? Are CNN or MSNBC liable for defamation since they broadcasted Jones making those same claims? Do we know that if the people that harassed the victims parents actually got their information directly from Jones himself?

It seems to me that defamation law is a two edged sword...a society that doesn't have it allows misinformation to be used to harm people, but a society that doesn't have it on a tight leash allows to weaponize claims of misinformation with far worse repercussions.

When you hear that 5 shell companies are declaring bankruptcy, you should think that the person running those companies is winning, not losing. Alex Jones is a bona fide criminal con-man and we should expect him to pull tricks that make madoff, ponzi, sbf, and al capone look like saints. He's been embezzling all of the money out of his companies and accounts into hard-to-reach places, to the point that right now his paper net worth is in the negative.

Now you have Jones' creditors asking for money, the Texas plaintiffs asking for 50,000,000, and the Connecticut plaintiffs asking for 1,500,000,000, and they all have to fight it out in Texas court for the crumbs. The fact that the CT plaintiffs are supposed to get 30x more than the TX plaintiffs doesn't mean they're going to get a 30x bigger portion of the pie in TX court, and we don't know how much Jones' existing creditors are asking for.

When the dust settles, Jones is shooting to keep his house, the only remaining thing of value under his name, and to have the important IP of his media companies in the hands of that supplement company, which may be independent, but are definitely Jones aligned. I see Jones coming out of this intact, though for all the wrong reasons, and the plaintiffs getting a pittance, also for all the wrong reasons.

Jones deserves to be shut down, for being a fraud and a con-man, not for defaming some liberal agitators. And the plaintiffs deserve to get nothing, because their claims are baseless drivel, not because the defendant will successfully doge the judgement by any means.

  • -14

I’ll buy that Jones won’t live in poverty, might have an account in the caimans, and that the plaintiffs won’t get much at the end of the day.

That he’s a master money manipulator? I doubt it. He’s a true believer crank, a group which has a long history of making dumb legal mistakes and hanging themselves. This is another case thereof, and more than likely he will actually lose everything except his house and car.

He’s a true believer crank, a group which has a long history of making dumb legal mistakes and hanging themselves.

I also doubt he's a money manipulator type, but I'd be cautious about dismissing him as dumb or incompetent. I've heard some throwaway comments from media people that he was running a tight ship with his company.

Totally possible, but he likely has incorrect beliefs about things that are relevant to hiding money even if he tries to manipulate his assets.

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