Puerto Rico’s Default: Back To The 1930s?

We were told, for years, the outrageous lie that Greece’s debt crisis was “caused” by the Euro… Even by supposedly left wing economists of the USA (Paul Krugman, etc.), and their European parrots. I exposed this as a cover-up of the outrageous state of banking under a thick layer of Europhobia, even more than four years ago. Now Puerto Rico exhibits an increasing unwillingness to pay interest on its debt. Now what?

Puerto Rico’s Default Has Got To Be Europe’s Fault:

It’s only a matter of time before the plutocratic press, or, if you want, the Main Stream Media, make the Euro and Greece the reason for Puerto Rico’s failure. (For such a devious reasoning, see below.)

After 2008, the economy turned bad, and governments borrowed heavily to keep the society going. As the prospects got dimmer, https://patriceayme.wordpress.com/2014/06/21/new-york-vulture-justice/, bought Puerto Rican debt. Vultures hate education, as education makes for rebels, and they are in position to reduce educational spending, in Greece or Puerto Rico. When Vulture Funds had their fill, of Puerto Rican debt, they sprang the trap: mistaking Porto Rico for Greece, they required the Porto Rican government to reduce spending in education… So that Porto Rico could pay them the extravagant interest payments.

Is Puerto Rico The Object Of A (Financial Engineered) Genocide?

Debating Puerto Rican debt appears to be about finance, state debt, schools, hedge funds. Yet, ultimately, it’s about who owns Puerto Rico.

The Guardian, and magazine such as Slate, bought the hedge fund propaganda, bait, hook, line, sinker, if not the boat itself. Jordan Weissmann in Slate, a famous electronic magazine, blared: “Hedge Funds Think Puerto Rico Should Shut Down Schools to Pay Its Debts. Is That So Wrong?”

No, of course, it’s right. Hedge Funds should have all rights you can possibly imagine. They already buy and sell entire countries.

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The Truth About Porto-Rico: Tax Haven, Millionaires’ Haven:

The total tax receipt in Puerto Rico is 10%, a small fraction of what it is in advanced countries (at least 23%). Taxes on the rich are small, full of loopholes. Moreover, the USA treats Puerto Rico like an exploited colony, so full reimbursements and compensations available to full citizens of the USA are not available in Puerto Rico.

Another truth is that educational spending is exploding in the USA, because health spending (Obamacare”) does not control costs (contrarily to what propaganda says). So plutocrats from hedge funds profit from an inflation which fellow plutocrats in health care engineered, thanks to an arguably too Machiavellian by half White House.

Porto Rico is a weird island, a territory of the USA which is neither destined to independence, nor a state. In the 1950s, four Puerto Ricans went to the Congress of the USA, and shot 30 rounds onto the Representatives, to ask for independence.

Krugman says Puerto Rico is not Greece: indeed, Puerto Ricans flee massively to the USA. Greeks no doubt ought to do the same and contribute free, or menial labor, to the splendor of the economy as celebrate by Krugman. People who are in the know stridently contradicted Paul Krugman’s positions and exposed them for what they are: the term “neo-colonialism” is too good. Pursued to the end, Puerto Rico would just vanish, except as a tax haven (just as the Virgin Islands next door).

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Mussolini Fustigated What He Called “Demoplutocracies”:

Hitler joined the Italian dictator in complaining about the “plutocrats”… whom he knew all too well (top Nazis commiserated with him for having to dine with “plutocrats”, and make small talk to “plutocrats“, etc.)  

Does that mean that those who complain about “plutocracy” a lot, such as yours truly, are also fascist?

No. Of course not. First it shows that Mussolini and Hitler called their dinner guests “plutocrats” because that’s what they, all often, were. It also reveals that, in the 1930s, it was a common political truth, worldwide, that plutocrats had caused the financial and economic crisis… As they had, since they were in command (the bubble of the 1920s was deliberately engineered by Lord Montague and his American alter ego, to mitigate British debt from World War One by inflation and over-activity).

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President Roosevelt, Knight Of The Dark Side:

People often ask me what the Dark Side is. Neither “Evil“, nor “Star Wars” do justice to the notion. That force is strong, but its strength varies. The politician who acted the best, for his own country, when faced with that plutocratic crisis, was President Franklin D. Roosevelt. Roosevelt devalued the dollar, shackled Wall Street and the banks, created a Command and Control economy (headed by a young Canadian!). Roosevelt, himself a plutocrat, behaved in an extremely progressive, socialist way. Because he had to. Sometimes, the Dark Side is all about doing what is necessary (I see Obama chuckling in the distance with his drones). Embracing many of the solutions of the hard left, was the price Roosevelt paid to save plutocracy.

Maybe to compensate, for his own exuberant socialism, Roosevelt was abusive with the French (who still adore him), and exploitative with the British. He also helped making sure that Stalin, Hitler and Mussolini could devastate Europe… To the great profit of the USA. In 1939, or early 1940, Roosevelt could have declared war to Hitler. That would have probably made him win re-election in November 1940 in a landslide.

Roosevelt ran for an unprecedented Third Term. President Washington had refused to do so; Roosevelt was not obligated to run for an unprecedented third term. But he was morally, civilizationally, and strategically obligated to declare war to Nazism. FDR never did: Hitler declared war TO him. So why did not he?

Because Roosevelt was a master of the Dark Side: he let Nazism being used as a blunt instruments to destroy the competition in Europe, the other representative democracies (France, UK, Netherlands, Belgium, Norway… and their allies: Czechoslovakia, Poland, etc.) In the USA, this makes him a great man, an immense patriot, the founder of the “American Century”. The judgment of history, is another matter, entirely, let’s hope I contribute to it with my own point of view (“theory“).

In any case, President Roosevelt was a master plutocrat, whereas Hitler and Mussolini depended upon plutocrats. The case of Stalin is different: the Dark Side was so strong with him, he was able to surf over lots of plutocrats, as if they were waves, one after the other. Early on plutocrats of the USA (such as the Harriman Brothers) financed him (say to develop Baku oil fields). Engel in his theoretical book had said to do away with marriage, and embrace, free, secxual love. So Stalin’s satanic approach was pragmatic. Allied to German fascists, from 1916, until savagely attacked by his colleague Hitler, Stalin dictated his conditions to a weakened Roosevelt who was all too happy to give him half of Europe to chew on.

The Pragmatic Approach Can Be Opposed to the Principled One:

The USA stays highly pragmatic, never having ratified the Kyoto Protocol. Obama presented a plan to lead from behind technological progress (it affects energy production, about 30% of the CO2 production, but not transportation, another third, or industry). The solution, of course is to take out all subsidies for fossil fuels, starting with the richest countries, and doing so progressively. If Europe and the USA decided this, they could impose it, worldwide, through a carbon tax.

A conference in Paris is supposed to make desperate efforts to stop the rush through the two degrees Celsius, but the largest sub-arctic zone, Russia, has already barreled right through.

As long as hedge funds feel they can order the world around why should it be any different? What else?

Plutocrats say: all the problems arise from French-like socialism, and the European Unification related to it. Thus, they have got to say that so it is, with Puerto Rico’s debt crisis.

Puerto Rico’s debt crisis has to be related to the hydra of European unifying socialism, sneakily propelled by the French.  How could that not be? Contagion, what plutocrats fear the most, this what Greece and France brought: contagion of rebellion. Destroying direct democracy is why Persia financed the war of Sparta against Athens. Plutocrats have profited of this Persian investment, ever since.

The Greeks did not want to pay for their banks’ errors, and the state debt resulting from it. So the Greeks started a mood, a mood where those who owe resist their lords, the lenders. Hence the Puerto Rican legislature sudden decision to resist its masters, the hedge fund managers. So, you see, European leftists are not innocuous, they are already attacking on U.S. soil.

And the climate crisis? Purely a French invention. Proof? The climate conference is to be held in Paris in four months.

Nowadays, thanks in part to the Multiverse fanatics, no proofs are really necessary, screaming insanities is sufficient, to qualify for respect (as long as you have a big gun, or pocketbook, or aura given by those with guns, or pocketbooks). Everybody knows this, by now: the tedium of the medium is the message, and the massage.

Patrice Ayme’

Tags: Debt, Euro, Europe, Greece, Krugman, Puerto Rico