Puerto Rico Declares BANKRUPTCY! - Panic As Economy Collapses!
Josh Sigurdson sits down with author and economic analyst John Sneisen to talk about the continued collapse of the Puerto Rican economy as public sector debts total almost 74 billion dollars which is around 100% GNP.
It took a long time for Puerto Rico to admit their bankruptcy as we at WAM ourselves declared Puerto Rico bankrupt in July 2016 in our first report on the subject.
The government of Puerto Rico acknowledged in 2015 that they could not pay their debts followed by a U.S. bail out.
Josh and John explain what is currently happening in Puerto Rico and what this will inevitably lead to as the problem gets worse.
People in Puerto Rico, being American citizens can escape the debt by flocking to mainland, however that simply leads to the remaining public being extorted and paying more.
As John mentions, a debt jubilee isn't likely any time soon and the problem will certainly get worse before it gets better, but people can protect themselves by getting off the centralized grid and decentralizing.
Stay tuned as we continue to cover this developing story!
Thanks for the insights, @JoshSigurdson. We can always count on the state in the hands of central banks to continue the fiscal slavery, eh?
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Absolutely! Central plan everything into oblivion until the people are shoved down a pit and the only way up is to beg the state and the banks to pull them out. That's servitude in a nutshell. It's all an elaborate control complex, but it always must come down eventually.
Let's hope for a debt jubilee!
bring it on.
Hey guys. Great video. Question: You mentioned "fractional banking".
Does this mean that the sub-prime crisis of $13 billion actually caused $130 billion worth of "damage". If so, Does PR's $73 billion mean $730 billion in "damage"?
Jewish Usury has to be outlawed. The charging of an unknown fluctuating amount of interest is obscene. Instead we should have a set up fee (administration fee) for borrowing to buy a house and no interest at all.
How did a collectivist like you end up on Steemit? I checked your profile and you literally just joined and have only been commenting on my posts so far about the jews and why people shouldn't own property. Get lost.