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Sorry, but that theory is baloney. It violates at least two laws of thermodynamics. But it is a persistent urban legend among mechanics both professional and amateur.
There are a VERY few engines in which removing the stat causes problems, but they are "double-ended" where the stat covers up a large bypass passage when it opens. I had a Mercedes diesel with that type.
Most likely the reason your Ranger overheated is that you had a failure elsewhere in the cooling system (plugged radiator, broken water pump impeller, blown head gasket, etc.) and even with the removed stat passage wide-open there wasn't enough cooling available.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.