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The rules are simple to interpret... no cursing/vulgarities, and no use of creative re-spellings or character-replacement of curse/vulgar words.
Popular acronyms such as "WTF" are often allowed because they have become a popular component of the contemporary lexicon, and appear in mainstream sources with regularity.
The rationale behind the rules are also simple to understand... "conspiracy theories" have enough "credibility" baggage without also having to overcome additional distractions such as cursing.
I often curse like a drunken-sailor with a bad attitude in public (among friends), but doing so only effects me -- my choice of words, in such a setting, have no consequence on anyone else but me.
But if I chose to curse on ATS, doing so effects everyone else who posts here -- my choice of words, in a collaborative text-based setting, will have consequence by association on every other contributor. The incremental repercussions of individual posts certainly may be very slight, but the cumulative ramifications would be significant.
This thread has surreptitiously come at a time when our moderation staff has been discussion the need to increase our action against swearing and the use of swear word (#####) replacements that contain enough letters to ascertain the vulgarity intended. The conclusion has been that increased diligence is required.
EDIT TO ADD
Anyone confused by what may or may not be allowed as a curse words is simply playing games. It's our firm belief that anyone with enough intelligence to turn on a computer and obtain a membership on ATS should poses the common-sense needed to know which words, phrases, or epitaphs should not be used either in full-spelling, creative mis-spelling, or character-replacement.