Oh good now there may be a Puerto Rico debt crisis. It's 72 billion for a pretty small country that had close ties to the US, I don't know if they still do.
Dead on. This has been the plan for 100 years since the Federal Reserve was created along with the Federal income tax. Print worthless debt notes backed by nothing of value. Currency used to be silver certificates redeemable in hard (silver) currency of equal value.
Bust up all nations over debt and now move in for absolute socialist control.
PR can't vote in presidential elections. They participate in primaries, and get delegates to the conventions, so they affect the nominees of both parties. But no voting, which sucks, because they do pay US income taxes and are subject to US law.
I like Puerto Rico. I've been there twice. Nice people, good food, beautiful beaches.
Here you go an outstanding read on Puerto Rico. read carefully notice some common pit falls.
"The minimum wage is coupled with lavish entitlement benefits. A household of three in Puerto Rico can earn $1,700 a month in benefits from Medicaid, food stamps, utility subsidies, and aid for dependent children, compared to $1,150 a month in take-home benefits from the minimum wage. Individuals are better off not working, and many chose that option. Only 40 percent of Puerto Rico residents are employed or looking for work, compared to 63 percent on the mainland."
Mark my words, when the benefits start to run low in Puerto Rico, we will see a mass exodus from PR to the Continental US. Miami, NYC, Chicago look out!
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