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I think your theory on the rod being "in plain site" is incorrect.  That is the shaft that the nut you need removed is threaded to.  You can take the nut off,  then remove the basket and that shaft will remain RIGHT WHERE IT IS, still covering the rod you want to remove.   If you are simply removing to rod to see it in it's entirety you will still have to deal with it being stuck.   If you just want a functional clutch you may wish to consider my approach.