Puerto Rico, Trumps Fingers

[Aianawa]

Where is this heading I wonder ? > http://www.foxnews.com/world/2017/05...a-unfolds.html

Has this got Trumps fingers all over it, Bankruptsy an all ?

[Fred Steeves]

Good find, I was totally unaware of this. I'm not quite sure what it might have to do with the Trump administration, per say, unless it has to do with those Goldman Sachs boys he hired on to help drain the banking sector of the swamp.

Historically, bankrupting coveted or uncooperative governments has been one of the bread and butter maneuvers of the West (namely Britain) in order to get what it wants. We the US tutored under Great Britain to help carry that banner of glory into the future.

Gunboat diplomacy is another time tested method, we are seeing that employed currently as well. Whatever it takes...

[Aianawa]

On hearing a few people back in the past, talk about the importance of this country to USA, I researched its past, disgusting as usual by the weres and more up to date they connected USA to this country loophole wise, last century from memory.

loophole meaning weres were unable to put things into place within USA and used them instead. We sure to get improved data soon imo.

[turiya]

Point of interest: "only corporations can declare bankruptcy" -- Corporation Nation blog...
https://realitybloger.wordpress.com/...ankruptcy-lie/

[TargeT]

Good find, I was totally unaware of this. I'm not quite sure what it might have to do with the Trump administration, .

This has been coming for years, & just happened to occur during this administration (I thought it would happen during the last) don't worry though, this is just a preview of what will be happening all over the US soon.


Per Capita, the USVI is in more debt than PR; we just don't have as large of numbers.

[Emil El Zapato]

Hi Turiya,

As a point of interest, I'm having difficulty understanding the point? Can you help?

Puerto Rico and looming austerity...lol, good ol' austerity. If an economic approach fails repeatedly, why not try it again? It works well for those that are consumed by self-interest. It's disgusting.

NAP

[TargeT]

Hi Turiya,

As a point of interest, I'm having difficulty understanding the point? Can you help?

From the posted article:

the over 230,000 local and state government entities across the nation have been legally required to funnel taxpayer money into investment funds that ultimately never benefit these local or state governments or their people. Instead, they invest in “emerging markets” in countries like Mexico and China – which soon will become the largest economy in the world thanks to the ignorance of the very citizens of the United States that have no idea this has been happening for over 70 years.

What is the CAFR (basically towns, counties,, every state government agency takes a portion of tax money and invests it... but doesn't tell the tax payers about the investment or profits on investments)?
Intro:

Source: https://www.youtube.com/watch?v=T2aif0Wk9E0


Indepth:

Source: https://www.youtube.com/watch?v=jkwjtbTjTsE



I had completely forgotten about the CAFR........ that DOES put a new spin on all of this "bankruptcy" stuff... I tried to read through PR's CAFR... holy boring 300 pages!

[Emil El Zapato]

That has always been a looming problem between locals and the Feds. There are transfers of money that go both ways and the different entities are happy to conduct business this way. It's the ignorant population that is unhappy about it. Why?! Because they're ignorant, of course.

These videos show only a portion of the entire scenario. This is what is so misleading about such explanations. The question is, "Is it intentional" motivated by personal politics. Highly likely!

Most of what these people are claiming are really questionable in their veracity.

This explains a lot of economic conditions related to local and state governments, in terms of process, it doesn't render any judgments, just explains the process:
https://www.nytimes.com/2014/06/26/u...risk.html?_r=0

[Emil El Zapato]

Wikipedia:Articles for deletion/Walter J. Burien Jr.

https://en.wikipedia.org/wiki/Wikipe...r_J._Burien_Jr.

[turiya]

From the posted article:

What is the CAFR (basically towns, counties,, every state government agency takes a portion of tax money and invests it... but doesn't tell the tax payers about the investment or profits on investments)?
Intro:
https://www.youtube.com/watch?v=T2aif0Wk9E0

Indepth:
https://www.youtube.com/watch?v=jkwjtbTjTsE


I had completely forgotten about the CAFR........ that DOES put a new spin on all of this "bankruptcy" stuff... I tried to read through PR's CAFR... holy boring 300 pages!

From what little I've been able to gleen from Walter Burien's information and those that have been blogging about it, is that all levels of so-called 'government' hide the real money assets in various categories within the CAFR. The most common place is to log the wealth into the category of "Future Liabilities that go beyond One Year".

The created budget is strictly for the public to view. It is not the actual bookkeeping that takes place. In other words, there are two sets of books: One to be shown to the public, and the other, the CAFR, is the real accounting.

Governments are not supposed to run as corporate entities, the budget should be planned & spent for the forth coming year. Period! If you or I did this sort of accounting, then the IRS would have a field day with any individual that would do this sort of thing. Future Liabilities that extend beyond one year... well, this is where its easy to hide money that will "supposedly" be spent sometime in the future, on something or another. It is only speculative. And can include some ridiculous notions of what may be needed in a future that is projected beyond one year... 5 years, 10 years, 15, 20 & beyond.

Its only the people at the very top that become aware of what is going on with the double-bookkeeping. The thing with the Detroit Bankruptcy, involving Detroit Mayor Kwame Kilpatrick, is that Kwame knew where the money was kept, and began extracting it at his leisure. Its my opinion that someone else at the upper tier of Detroit government, also knew about how the books were kept, found out about what Kwame was doing. And then, blew the whistle on him.

Walter Burien tells of a woman journalist that interviewed him, then posted an article written explaining what was happening with the CAFR. She soon lost her job & could not get rehired as a journalist for any other corporate news outlet. I think she had to resort to running a blog to make ends meet.

The only time I've heard of a politician mentioning anything about the CAFR was a politician in Oregon. There is a youtube about it which I will post below... the city was in debt for about $5 billion, the politician let his colleagues know about the money that wasn't designated for anything - just sitting within the books, not doing anything but sitting there. The debt problem was soon settled after he sent out the CAFR to all his colleagues.

This is why the Detroit Bankruptcy was a lie! There was money, but nobody that knew about it wanted to use it. Sad, the level of corruption that exists. Probably, the same thing going on with Puerto Rico bankruptcy... just imo.

Report: State Agencies Have $4.9 Billion
In Ending Fund Balances
(Uploaded on May 26, 2009)

Source: https://www.youtube.com/watch?v=gJ8YhJyxPQo

[Aianawa]

Very Sad indeed.

[Emil El Zapato]

Is this in anyway connected to what government agencies call, "A wish list?" I worked in the Manned Space Program for about a decade (government) and two years in a civilian capacity in a tactical aircraft systems program (more government) and budgets were always nothing more than a projection used for 'appropriations' from the governmental money source. The pattern was to ask for the stars and if the agency was lucky they might get the moon. Unfortunately, in every program I ever worked the mandate was 'do more with less but safety and risk management were always primary. This resulted in two catastrophic shuttle accidents and the early retirement of the shuttle (half way through its projected useful lifetime).

There was no field day for anyone as far as I could tell. The only extravagant party that I ever attended was at the LMTAS facility celebrating sales of a major 'Block' to a foreign country that incidentally never occurred. It was a great party though.

[Aianawa]

I feel this was definitely on someones list but still working out why lol

[TargeT]

Is this in anyway connected to what government agencies call, "A wish list?"

This is more like, if you took part of your budget and invested it, but didn't tell anyone in an obvious way... just acted like you needed more money

[Emil El Zapato]

yeah, we always need more money...