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no its not broken its just loctite
also rember to take the knife apart when its OPEN ONLY or you will break the torsion bar
I had the same problem before, here was my solution:
1. Cut a piece of a rubber band about the size of the pivot.
2. Place rubber band piece on pivot, then screw the clip tightly over the rubber band.
The grip from the rubber band plus the pressure from the clip should keep the pivot from spinning.