…of Prince Philip, Puerto Rico and US bankruptcy


BenjaminFulford

It is time for Canadian LBO of bankrupt US Corporate government

Despite an ongoing pretense that nothing happened, it turns out the US corporate government based in Washington DC and registered in Puerto Rico really did go bankrupt last week. The bankruptcy of Puerto Rico is different from something like the bankruptcy of Detroit because Puerto Rico is a fully owned DC subsidiary and so the parent company must take the fall. This was why the Chinese Finance Minister suddenly canceled a meeting with his Japanese and South Korean counterparts last week because of a “financial emergency.”

http://www.reuters.com/article/us-adb-asia-trilateral-idUSKBN1802V2

This was also why the British Royal family held an emergency meeting last week at Buckingham Palace and then announced the retirement of Prince Philip.

Both emergency meetings had to do with the cashing of Super Petchili or Lung-Tsing-U-Hai bonds backed by Chinese gold and held by many members of the world’s royal families, according to a senior bank source. To be exact, according to this source, in exchange for resigning, Prince Philip was allowed to cash his Petchilis meaning the British Royal Family now has in its hands enough money to totally transform the planet.

If so, then this means Canada is now in a position to ask creditors of the bankrupt United States Corporation for financing of a leveraged buy-out of its operations. The result would be an end to the never ending insanity and criminality emerging out of Washington DC.

We will look deeper into this further down because, in terms of how this will affect the planet, this under the radar move is far more important than the French Presidential election. This was stolen by the Rothschild’s on behalf of their slave Emmanuel Macron with a in your face, Satanic 66.06% of the vote.

The French election was really a German/Russian proxy war over the control of Europe. US naval intelligence reports that German troops were sent into France prior to the election to while Pentagon sources say Russian troops were sent into Serbia at around the same time.

As things stand now, Hitler’s daughter Angela Merkel has repeated her father’s accomplishment of conquering France, this time through stealth rather than through open warfare.

Regardless though, Japanese military intelligence is now saying that defeated French presidential candidate Marine le Pen was in fact…

to be continued

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Puerto Rico on the Brink of Default; London and Wall Street Say `Kill Them All’


logolp

December 3, 2013 • 11:55AM
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The Commonwealth of Puerto Rico, a U.S. territory, stands on the brink of a default, with $70 billion in debt, which Wall Street bloodsuckers say, should be paid by imposing brutal austerity on the island’s impoverished population. As the Washington Post very nervously commented on Dec. 1, a Puerto Rican default “would be far more disruptive than Detroit’s recent bankruptcy filing in July.”

It’s clear that only the passage of a Glass-Steagall law can address Puerto Rico’s crisis. As Pedro Pierluisi (D), the island’s non-voting representative in Congress, told the Post, “some people might say ‘this [crisis] is their problem.’ But Puerto Rico is part of the United States; you own this problem. It is not like you can ignore it.”

Like most U.S. states, Puerto Rico cannot file for bankruptcy. In the event of a default, its constitution offers bondholders guarantees that they would be paid before pensioners and public workers, as is being discussed for Detroit. Currently the government faces $37 billion in unfunded pension obligations. Reflecting the Wall Street and London killer mentality, the London Economist snarled in its Oct. 26 edition that Puerto Rico’s federal minimum wage law “creates a strong disincentive to hire.” And, it complained, its “inflated benefit payments, for disability for instance, discourage work.”

The island is in a profound recession, and has lost 54,000 residents (1.5% of its population) between 2010 and 2012; since 2006, the population has shrunk by 138,000 to 3.7 mn. It’s now experiencing the biggest mass exodus since the 1950s, as the big U.S. corporations that once employed a significant portion of the population in largely labor-intensive jobs, have relocated to countries where the cost of labor is even cheaper than in Puerto Rico—Haiti, Central America, Asia, etc.

Since 1996, the number of factory jobs in Puerto Rico has declined from 160,000 to 75,000. Unemployment is soaring: just over 41% of working-age residents have a job or are looking for one. One-third of the population relies on food stamps, and island residents are twice as likely to receive Social Security disability benefits as those on the mainland. The most thriving “businesses” on the island today are pawn shops and title-loan operations, which offer loans to people who put up their car titles as collateral.

Against this backdrop, the only way Puerto Rico has been able to fund its daily operations is by borrowing, the Post reports. Since 2000, issuance of government bonds, plus those floated by public corporations, has tripled. Because of their high yields and exemption from federal, state and local taxes, Puerto Rico’s bonds are held by three out of four municipal bond mutual funds. Last January, rating agencies downgraded the island’s bonds to just one level above junk.

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