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No, a geostationary orbit must be in the plane of the Earth's equator. That way, by matching its orbital speed with the speed of a point on the equator, the moving satellite appears to be stationary over that point. Any other orbit would have the satellite appear to drift above and below the equator during the course of a day.
'There is no inductive method which could lead to the fundamental concepts of physics. Failure to understand this fact constituted the basic philosophical error of so many investigators of the nineteenth century.'