SEC v. Ripple Labs Inc, U.S. District Court,
Southern District of New York, No. 20-CV-10832
The SEC proposes that XRP retail investors are in possession of unregistered securities, meaning that XRP would give holders a portion of the Ripple company and influence its decisions as shareholders. What Reaper Financial LLC does is buy digital assets or property and destroy it; by the fact that XRP and XRP assets can be purchased and destroyed at the will of their owners without the permission of Ripple or affecting Ripples company in any way means that XRP can only be considered a product and there-after property of the purchaser which may be bought and sold privately or through a marketplace in the same manner as a used car. If I were to buy a Ford Mustang, it does not give me partial ownership of Ford Motor Company, I can destroy that Mustang because I own it. Ford is not affected by me destroying it because it is my property not Ford Motor Company’s. Retail investors have every right to acquire, buy, sell, or trade digital property. Both the fifth and fourteenth amendments of The Constitution of The United States protect the personal property rights of the individual to ‘acquire, use, or dispose of property freely’.
Per the fifth amendment “nor shall private property be taken for public use without just compensation”, the federal government and SEC must offer a ‘buy-back” opportunity to retail owners of said XRP property if a ruling was made against its circulation. If that is the route that federal government chooses to pursue, then the finite nature of the XRP Blockchain makes XRP infinitely more valuable than the loosely produced Federal Reserve note which will only increase in supply. Therefore, the only fair compensation for XRP property is to calculate the total number of XRP divided by the Complete and total Assets, Debts, and Liabilities of the U.S. Dollar. Any less is a violation of the United States Constitution and the Bretton-Woods Agreement in which the U.S. Dollar is the Global Reserve Currency. The SEC case against the property rights of private citizens is contrary to the Constitution, and any ruling or law that is contrary to the Constitution is null and void. An adverse ruling against property rights will be seen as a violation of The Constitution that is in bad faith to the American people.
PATRICK L. RILEY
Chief Executive Officer/Founder
Reaper Financial LLC