Puerto Rico will be SOLD on May 1, 2017

[1peacelover]

https://waragainstallpuertoricans.com/2017/04/22/puerto-rico-will-be-sold-on-may-1-2017/

Gov. Ricky Roselló is distracting Puerto Rico with a June 11 “statehood referendum” that is going nowhere, since it has been repudiated by the U.S. government. But WHY is Roselló doing this?

The answer finally exploded – like a bomb – on April 20 in Fox News. The entire island is about to be sold off, immediately after May 1, with Ricky Roselló as the auctioneer.

Here is how he will do it…

The Fox article reports, in perfect sociopathic detail, how the governor will distract the entire island with a phony “statehood” referendum…at the same time that he sells the island to Wall Street.

It will all be accomplished with lies.

Here are those lies: THE LYING FOX NEWS ARTICLE

THE FOX HEADLINE

Let’s start with the headline: “Puerto Rico pushes to privatize operation of public services”

This headline is packed with lies…THREE of them!

#1

“Puerto Rico” is not pushing for anything.

The ruling class of Puerto Rico is pushing.

Gov. Roselló, ex-governor Fortuño, the Financial Control Board, and two dozen vulture funds are the ones pushing for “privatization. They can’t WAIT to turn a false $72 billion “debt” into an empire of P3s (public-private partnerships) that will convert the island into one giant ATM for Wall Street…for the next 40 years.

#2

This is not about “operating.”

It is about owning.

Under the guise of “management efficiency” and payment of a false “debt,” these “P3s” will place roads, bridges, airports, schools, hospitals…and the electrical power and the water supply of Puerto Rico…under the ownership of Wall Street hustlers such as these.

#3

This is not about public “services.”

It is about public assets . . . such as these.

It is about owning and controlling these assets. Goldman Sachs already has a 40-year lease on PR-5 and PR-22, the most profitable highway in Puerto Rico. Now all the other vulture funds want the same.

They all want – and will grab – the public assets.

THE FOX ARTICLE

The lies in the article itself, are remarkably bold:

Lie #1

“Puerto Rico is ready to sign dozens of new deals to privatize the operation of public services.”

Lie #2

“Gov. Roselló said public-private partnerships could create up to 100,000 new jobs and generate some $5 billion in the next three years.”

Lie #3

“25 percent of the revenues from these deals will go to the island’s crumbling public pension system.”

Lie #4

“Officials have identified at least 30 projects that would benefit from being run by a private company.”

THE FIRST LIE has already been discussed. It was embedded in the Fox headline.

THE SECOND LIE is simple arithmetic: 100,000 “new” jobs will be created…but only after 100,000 “old” workers are terminated, along with their pension and health benefits, and some of those “new” jobs might pay only $5 per hour.

75 percent of all state agencies will all be closed.

After that, $5 billion will be generated not “for Puerto Rico”…but for the vulture funds that are demanding immediate and full repayment, of a fraudulent $72 billion “debt.”

THE THIRD LIE is also arithmetic: without the vulture funds and their “P3s,” 100% of the revenue would go to Puerto Rico. But Puerto Rico will receive very little of the revenue – nowhere near 25% – until the vulture funds are repaid the so-called “debt.”

In other words, this “25% of revenue” means 25% of what the Commonwealth gets, AFTER the vulture funds have taken their cut. This is 25% of nearly nothing.

THE FOURTH LIE treats Puerto Ricans like infants, incapable of managing their own island. Then it turns 30 sectors of infrastructure into targets for “privatization,” for the alleged “benefit” of Puerto Rico.

But privatization will not benefit those 30 sectors. It will not “benefit” Puerto Rico.

It will benefit the Wall Street hustlers: salivating over Puerto Rico, eager to turn a false “debt” into 40-year “public-private partnerships.”

ON MAY 1, 2017…THE SALE OF PUERTO RICO WILL BEGIN

Just a few days from now (May 1, 2017) Puerto Rico will be in a complete default, the creditor lawsuits will be un-frozen, and all these creditors will be free to sue the island…for immediate re-payment of the alleged $72 billion “debt.”

Since Puerto Rico is financially bankrupt, but not allowed to declare bankruptcy, the creditors will demand immediate collateral… they will pressure the Financial Control Board to mortgage the island’s entire infrastructure, through “public-private partnerships.”

P5s…Public Private Partnerships for the Plunder of Puerto Rico

Over the past two years, this website has repeatedly warned about the “P3s” and “public-private partnerships” that are preparing to invade Puerto Rico.

Here are some of those articles:

https://waragainstallpuertoricans.com/2015/10/05/public-private-partnerships-for-the-plunder-of-puerto-rico/

https://waragainstallpuertoricans.com/2015/10/06/meet-the-auctioneer-of-puerto-rico-macquarie-investment-management/

https://waragainstallpuertoricans.com/2015/10/12/luis-fortuno-king-of-the-p3s/

https://waragainstallpuertoricans.com/2016/03/06/privatization-gone-wild-corruption-in-the-public-private-partnerships-of-puerto-rico-created-by-gov-luis-fortune/

https://waragainstallpuertoricans.com/2016/03/17/who-owns-puerto-rico/

https://waragainstallpuertoricans.com/2016/06/26/beaches-of-puerto-rico-are-sold-to-us-billionairesby-puerto-rican-government-traitors/

https://waragainstallpuertoricans.com/2016/06/29/puerto-ricos-beachespuerto-ricos-lying-politiciansand-juan-bobo/

https://waragainstallpuertoricans.com/2016/07/14/will-puerto-rico-be-privatized/

https://waragainstallpuertoricans.com/2016/11/27/350-schools-in-puerto-rico-are-closed-and-sold-by-puerto-rican-government-traitors/

https://waragainstallpuertoricans.com/2016/11/28/the-government-of-puerto-rico-prepares-to-sellpuerto-rico/

https://waragainstallpuertoricans.com/2016/12/07/goldman-sachs-steals-1-25-billion-from-puerto-ricoand-uses-two-governors-to-cover-it-up/

https://waragainstallpuertoricans.com/2016/12/26/puerto-rico-retirement-system-including-teachers-may-crash-by-april-2017/

http://www.orlandosentinel.com/opinion/os-ed-puerto-rico-public-private-091615-20150915-story.html

http://www.truth-out.org/opinion/item/35274-no-more-colonialism-disguised-as-financial-assistance-the-us-must-relinquish-puerto-rico

These are not mere P3s – public private partnerships.

They are P5s – public private partnerships for the PLUNDER OF PUERTO RICO.

But this plunder…this invasion…is being cleverly disguised.

They already have Gov. Roselló falsely claiming 100,000 “new” jobs and distracting the entire island with a FAKE statehood referendum…even as these P5 deals are being cut.

They have Luis Fortuño, a corrupt ex-governor of Puerto Rico, making P5 deals behind the scenes.

They have Fox News lying about the P5 “benefits to Puerto Rico.”

They have a US-appointed Financial Control Board authorized to “accept gifts” and dripping with conflicts of interest, already pushing “a dozen” P5 projects throughout the island and demanding more of them.

They have vulture funds buying politicians in Washington and Puerto Rico.

They are a modern Mafia.

On May 1, 2017, this Mafia will hold a private party, and begin to slice Puerto Rico as their own personal cake.

The Governor of Puerto Rico will smile at this party.

He will even warm the knife…

So long as he gets his cut.

.
For a history of the War Against All Puerto Ricans, read the book…

War Against All Puerto Ricans: Revolution and Terror in America’s ColonyBuy it Now

Si prefiere ver la página web en español por favor visite: http://www.guerracontratodoslospuertorriquenos

 

[ROEL]

Thank you for the info, 1peacelover. It is distressing, though

 

[1peacelover]

It is certainly distressing especially being witness to the process. However, the Puertoricanos have a strong spirit and still are culturally connected to their causes. There are 3 million Puertoricanos and about 500,000 everybody else. They were able to get rid of the military even though remnants of depleted uranium & other poisons still exist.

Coming from the other colony next door (the Virgin Islands of the United States) we are in a similar situation financially. The difference is out of the 110,000 people living there, less than 20% of us are indigenous. So the people in positions of political leadership cater to the business class. Corrupt individuals continue to be (s)elected without a peep of intervention from our administering power.

Our struggle for Self-Determination in both cases are decided by others. We continue to be held intentionally and willfully in economic enslavement/indebtedness. Many indigenous people are losing their lands for inability to pay rising property taxes imposed by the need to borrow more money from the vultures.

More in Debt Than Puerto Rico, the Virgin Islands Rejects Rescue
https://www.bloomberg.com/news/articles/2016-05-31/more-in-debt-than-puerto-rico-the-virgin-islands-rejects-rescue

by Brian Chappatta
May 31, 2016, 5:00 AM AST May 31, 2016, 9:50 AM AST

U.S. Virgin Islands faces similar fiscal stress as neighbor
Territory leaders don’t want inclusion in Congress’s debt bill

Congress’s plan to throw a lifeline to Puerto Rico is making waves in the U.S. Virgin Islands.

The measure that passed a House committee last week would allow for a federal control board to oversee the finances -- and potentially restructure the debt -- of any U.S. territory, even though Puerto Rico is the only one now asking for help. Virgin Islands Governor Kenneth Mapp and Rep. Stacey Plaskett have blasted the bill, warning that it may tarnish its standing with investors. That concern is already starting to materialize: Returns on its securities are trailing the $3.7 trillion municipal market for the first time since 2011.

The Caribbean island, Puerto Rico’s closest American neighbor, has a sliver of the population -- about 104,300 -- and a fraction of the debt, with $2.4 billion across all issuers. But divvied up, that’s $23,000 of obligations per person, even more than Puerto Rico’s $20,000. The two Caribbean territories with a shared culture also have similar fiscal strains: declining populations, underfunded pensions, histories of borrowing to cover budget shortfalls and unemployment rates that are twice as high as the U.S. mainland’s.

“It’s the same template: Over a period of years, you keep issuing debt to cover your operating deficits, your economy isn’t growing, your population isn’t growing, but your liabilities keep growing,” said David Ashley, an associate portfolio manager at Thornburg Investment Management, which holds $11.5 billion in municipal bonds. “Just by virtue of math, your per-capita debt just continues to rise, probably to an unsustainable level at a certain point.”

Territory bonds have long lured buyers across the U.S. because the interest on the securities isn’t taxed at the federal, state or local level. And unlike some American local governments, the territories -- - American Samoa, Guam, Northern Mariana Islands, Puerto Rico and the U.S. Virgin Islands -- can’t file for bankruptcy. That made investors confident they’d be paid back, a faith that was lost as Puerto Rico defaulted and Congress advanced legislation providing a way for distressed territories to reduce their debts in court if needed.

Virgin Islands leaders insist the government can and will pay what it owes, in part because of the way the bonds are structured. Many securities are backed by specific revenue streams, like excise taxes tied to rum production by Diageo Plc and Cruzan International Inc., that go straight from the U.S. Treasury to an escrow agent. Even bonds backed by gross receipt taxes, which offering documents say are “secured by its full faith and credit and taxing power,” also give the trustee a lien on the levies.

Virgin Islands officials say they’ve had to borrow to make up for discrepancies in how the federal government funds territories relative to states. They’ve called on Congress to extend tax credits for low-income workers to their residents and bolster Medicare and Medicaid payments as well. None of that was included in the Puerto Rico bill.
Disadvantaged Start

“Congress has passed the buck and hasn’t done what they needed to do for many years,” Plaskett, the Virgin Islands’s non-voting representative in Washington, said in a telephone interview. “We’re already operating at a disadvantage to the other states, and have had to utilize other monies, such as bonds, to pay for everyday expenses that the people of the territories need.”

In a year when municipal-bond investors can’t get enough high-yielding bonds, the Virgin Islands are an exception. The territory’s debt has gained 2.2 percent so far in 2016, compared with 2.8 percent for all municipal securities, S&P Dow Jones Indices data show. It would be the first time since 2011 its obligations have trailed the market.

Its securities are mostly in the lowest investment-grade tier, unlike Puerto Rico’s, which are deemed virtually certain to default. If the Virgin Islands issued pure general obligations, however, Fitch Ratings says it would rate them BB-, the third-highest junk rank.

“In terms of the debt load, on a per-capita basis, on an income basis, it’s high,” said Marcy Block, the Fitch analyst who tracks the Virgin Islands.

Aside from indebtedness, the Virgin Islands is grappling with similar economic and demographic trends as its beleaguered Caribbean counterpart.

The Virgin Islands’s real gross domestic product dropped in each of four years through 2014, according to data from the Bureau of Economic Analysis. Like Puerto Rico’s, its contraction has been exaggerated by migration as residents leave in search of jobs. The Virgin Islands’s population is down 10 percent from its 2008 peak, according to BEA data, and the unemployment rate is 11.1 percent.

The Department of Interior said in a September 2011 report that the Virgin Islands’s pension plan may be unable to pay what it promised by 2025, though a measure passed last year could delay that by a few years.

Mapp, who’s unaffiliated with a political party, said in his first budget message a year ago that the territory’s general-fund revenue hasn’t been enough to cover expenses for the past two decades. The island may end this year in deficit as well.

Yet he says the Virgin Islands “have no financial issues close to or mirroring those of Puerto Rico.”

“We’re in a precarious situation -- we have an enormous budget deficit and we’ve been struggling with that for quite some time,” Plaskett said. “Should we be using bonds for operating costs? I have always argued no, but it’s a necessity because Congress has not done its responsibility to give economic tools and support to the territories to be able to grow their own economies.”

 

[artofdream]

Hope the Puerto Ricans will be able to take ahold of their destiny, however, the future seems pretty dark for them.
Having been in Puerto Rico couple of times lately, and there are so many opportunities.
I really hope the people will be able to go through these times... wait & see.

#art

 

[Martina]

Sorry to hear this.I don't know what to say, try to stay stoic. We live in such world, if you look at there are only few tiny countries that don't have debt.
https://www.quora.com/Are-there-any-countries-with-no-national-debt
http://www.therichest.com/rich-list/rich-countries/the-only-5-countries-in-the-world-living-debt-free/

 

[artofdream]

and as scheduled after May 1st, as reported by on SOTT, https://www.sott.net/article/350012-Puerto-Rico-files-for-historic-70bn-bankruptcy, PR filed for bankruptcy :(

The Commonwealth of Puerto Rico is seeking the largest municipal bankruptcy filing in US history, after failed negotiations with creditors over its $70 billion debt crisis. That's more than four times the debt Detroit collapsed under.

So distressing :(