Realist News (Jsnip4)

Full Version: Puerto Rico defaults on its bonds — the U.S. government is “guarantor” of those bonds
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Let’s start by putting aside the political biases of the person who produced this clip. While they are a distraction, they don’t obscure the real issues involved. Puerto Rico defaults on its bonds -> the U.S. government is “guarantor” of those bonds -> the U.S. government has now defaulted

This is a perfectly correct argument. But note how it is presented in the clip (over and over): “legally…” this, and “legally…” that. We live in corrupt regimes that have already abandoned the Rule of Law. Thus saying what is “legal” (or illegal) is now virtually irrelevant.

This clip is about the legal consequences of Puerto Rico’s debt default, in a world where legal consequences no longer exist. Look at Greece in 2011. It “legally” defaulted on 75% of its debts. The legal consequences of that default should have been $TRILLIONS in pay-outs on the fraudulent “credit default swaps” (i.e. bets) on a Greek default. In turn, the financial domino effect would have meant that the entire derivatives market, and thus our entire financial system would have imploded.

Publicly, the bankers simply said “there was no default”. Behind the scenes, the Criminals simply told all of their lackey governments that Greece’s debt was now “too big to fail”.

Same story here. One way or another we’ll be told “there was no default”. Behind the scenes, the Criminals will simply point out that the U.S.’s debts are “too big to fail”. Then look at the very important/interesting observation made on the clip at the 4:30-mark, where the text is actually displayed on screen:

An Obama Representative will move into Puerto Rico and tell their nation exactly what to do — they have lost their Sovereignty — just like they did when Detroit defaulted. Their entire finances are now run by a representative from the White House — Agenda 21 — complete control of America as Der Fuhrer.

This is part of the process where a default will end up as “not a default”. Well be told the Puerto Rican government was “incompetent”, or possibly even guilty of supposed “frauds”.

We’re then told that Puerto Rico “is not really bankrupt”, and thus doesn’t need to default.

All it needs to do is “restructure its debt”, i.e. pile more debt onto a bankrupt entity, i.e. extend-and-pretend.
http://investmentwatchblog.com/puerto-ri...defaulted/
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