NRA Files For Bankruptcy, Moves To Texas

The NRA was founded six years after the end of the Civil War to uphold the rights of Americans to own guns. They have been chartered in New York state ever since 1871, but now according to CNBC, a historic shift is taking place right now as the NRA is filing for bankruptcy and moving to Texas.

The National Rifle Association on Friday filed for bankruptcy protection as part of a restructuring plan aimed at moving the influential gun rights group to Texas.

The filing comes six months after New York state’s attorney general filed a lawsuit seeking to dissolve the NRA for allegedly misappropriating funds.

The advocacy group said that it would restructure as a Texas nonprofit to exit from what it described as “a corrupt political and regulatory environment in New York,” where it is currently registered

The NRA, which said it was not financially broke, filed for protection under Chapter 11 in U.S. Bankruptcy Court in Dallas.

In its filing, the group said it has assets of between $100 million and $500 million, and liabilities in the same dollar range.

The NRA’s largest unsecured creditor was its former ad agency Ackerman McQueen, which is owed $1.27 million, according to the filing. The gun group and the ad company have filed contentious lawsuits against one another.

“The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas,” wrote NRA CEO and executive vice president Wayne LaPierre in a statement Friday announing the filing.

He added that “no major changes are expected to the NRA’s operations or workforce.” (source)

This is an interesting move, but it speaks to something greater, which is that the NRA itself as a powerful entity and the concept of the free ownership of firearms by the citizenry, is in itself a dying venture.

I don’t want to sound gloomy, depressing, or encourage negative ideas about this. However, as I have pointed out before in April 2019, the country is fundamentally changing. Because laws are made for people and not people for laws, when peoples change, laws change, and the US is undergoing many fundamental changes. Like them or not, support them or not, it does not matter, because the laws are changing with this, and in the future, it would not be unreasonable to see a partial gun ban come into effect.

This is already happening among the Biden administration, where according to the Federal register, there are at least a half-dozen bills that are expressly anti-gun put out by the Democrats, and there is a strong chance that at least one or two will pass. If this happens, it will result in a partial gun ban.

How did we get to this point? It is a long story, but the fact is, the country changed while few people were watching, and those watching allowed it to happen so long as they benefitted from it. Much of this came under the Boomer years. Yet at the same time, it is largely Boomers who are holding back the full effect of change from taking place. Their Millennial children, and also the Zoomers, however, are the ones most ready to embrace and promoting change. Thus when Boomers finally lose their hold on power, which they are slowly, and are replaced by the younger generations, the changes will truly begin to go into effect.

This is not just linked to trends in guns either, but also and entire philosophy of how to live and the role of government vis-a-vis its relationship to society. There are always ‘breaks’ with the previous generation, but what began with the Boomer and the Silent Generations is having its full effects realized with their children and grandchildren.

As far as guns, if one is in the gun business, it is a great time to make money, because one may have to close up shop soon, just in time to sell off inventory before much becomes significantly harder to get. What effect this has on individual liberties and personal freedoms, however, is yet to be seen, but hardly is there a nation in the world that does not ban guns and then proceed to give more freedom, but rather the opposite, going back all the way to the first guns and the ban under penalty of death on their ownership placed on the common man enforced by the Ottoman Empire.

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