Sunday, May 24, 2015

U.S. territory Puerto Rico on verge of bankruptcy as home to the I.R.S. close to bond default

As the mainstream media continues to parrot the faux economic recovery, one important territory within the United States has been absent in the Fed’s artificial growth explosion.  And while Puerto Rico does not figure into the nation’s unemployment and GDP growth numbers, the island protectorate does contain one of the most lucrative government facilities, which of course is the I.R.S.
However, even the private corporation that was setup to backstop the Federal Reserve appears unable to aid in the inevitable default that awaits Puerto Rico, as a coming bond payment due by July 1st threatens to bankrupt the island and perhaps even trigger a cascade of derivatives that are tied to every security in the global economy.


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