News

Puerto Rico: We Can’t Pay the Bankers

Alejandro_Garcia_Padilla_-cropped

EDITOR’S NOTE: Mostly mixed-race Puerto Rico, and other lands of low productivity, feel the crunch first — but eventually all of us will reach the point where the banks are “owed” more than the people and the land can produce. Debt slavery through fractional reserve banking is a Jewish fraud which is enveloping — and enslaving — almost the entire world.

* * *

PUERTO RICO is set to release a key report by former International Monetary Fund economists on its financial stability Monday, officials said Sunday, which could point toward a fix for the island but has the potential to rattle bond prices if its predictions are pessimistic.

Gov. Alejandro Garcia Padilla (pictured) told The New York Times that the island would probably seek significant concessions from as many as all of its creditors because “the debt is not payable.”

“There is no other option,” he said. “I would love to have an easier option. This is not politics; this is math.”

Puerto Rico, struggling with a $73 billion debt load and faltering economy, is facing crunch time this week with a deadline to agree on a budget, as well as a July 1 deadline to make a $655 million payment on its general obligation debt, while its struggling utility PREPA faces a $400 million payment.

“We have to recognize we have a very serious problem with the fiscal situation of the island,” House speaker Jaime Perello told reporters Sunday.

Perello said he would be meeting with Gov. Alejandro Garcia Padilla on Sunday night and would ask him for a copy of the report. After presenting the report Monday, work groups should be established, he said.

Unlike mainland U.S. cities like Detroit and Stockton, California, Puerto Rico can’t declare bankruptcy because it’s a commonwealth, and default could create a legal and financial limbo that could take years to sort out, The Times reported.

Puerto Rico in February engaged a group of former IMF economists to analyze its economic and financial stability and growth prospects. A separate report was also commissioned by consulting firm Conway MacKenzie.

* * *

Source: NBC News

* * *

Listen: Turner Diaries commercial

OUR NEW, remastered audio book edition of The Turner Diaries read by the author, Dr. William Pierce, is now available. You can get your copy now — the CDs are are shipping as soon as orders come in.

The original recordings, made by Dr. Pierce and Kevin Strom on reel-to-reel tape in 1995, had been digitized in the early 2000s, but that digitization process was primitive compared to what we are capable of today; we have remastered this important work using the latest software — and we did it the careful, slow, difficult, craftsman-like way — the way Dr. Pierce would have wanted it.

We are proud to offer you the result, which can be ordered online via http://natall.com/td or by postal mail from National Alliance, Box 172, Laurel Bloomery TN 37680 USA. The fidelity of the disc is excellent: On a good speaker system, it sounds as if Dr. Pierce is with you, reading his book to you personally. There is nothing quite like hearing the man who created The Turner Diaries read it to you himself. And, by purchasing this mp3-CD, you will be supporting the important work of the National Alliance.

Listen: Turner Diaries commercial

* * *

For Further Reading

Previous post

Texas Attorney General Defiant Over Court’s Same-Sex Marriage Decision

Next post

US Army Col. Ann Wright Kidnapped by Israelis

1 Comment

  1. Jimmy Smith
    June 30, 2015 at 8:38 am — Reply

    When the Governments such as in Greece and Puerto Rico can’t pay their debts they don’t get any bailouts from the IMF, but when the Wall Street millionaires can’t pay their fraudulent contracts and executive’s salaries, they get bailed out by the tax payers of United States. It’s nice to see the one-sided relationship that exists between banks and governments. The Banks only take money, they don’t give any breaks to people.

Leave a reply

Your email address will not be published. Required fields are marked *

Slander, crude language, incivility, off-topic drift, or remarks that might harm National Vanguard or its users may be edited or deleted, even if unintentional. Comments may be edited for clarity or usage.