U.S. Treasury Fears The Currency War, Issues Threats…

U.S. Treasury warns China, Japan, andothers to not Devalue their currencies!

When the U.S. sneezes, the rest of the world catches cold.” -unknown economist, but often repeated in the mass media

Before you dive into the details of what is being reported, note these signals of a growing worldwide crisis:
U.S. Treasury 10-Year Yields Fell To 2 Week Low

U.S. stocks end at 3-week low as energy, banks sell off

Puerto Rico misses payment as debt crisis escalates

U.S. worker productivity slump is the biggest in nearly a quarter century

Now, ask yourself:
Where will the institutional investments likely go, in search of yields and profits?
Has a collective of IMF members decided to move in opposition of the U.S. Treasury?
If Dollars continue to flood into the U.S. domestic markets from foreign excess reserves how will the U.S. Treasury respond?
I expect the Dollar to continue to rise as the foreign markets spend their dollars out of necessity.
Consider that the failing emerging markets has to deal with their falling currencies and the fact that the U.S. treasuries and Dollars are too expensive (meaning they can’t repay their existing debts with their national currencies because the interest payments continue to rise as their currencies fall relative to the Dollar).

– U.S. Defaults On Its Bonds –
Some analysts claim the Puerto Rico default is technically the U.S. Corporation default.
If this is a correct interpretation, how will foreign holders of U.S. Bonds feel about the security of the U.S. Bonds in their possession?
Will the Puerto Rico default jeopardize the U.S. credit rating?
How will the U.S. respond?

What do I think?
Fair question.
I would not be surprised by any dastardly misdeeds from these elite criminals.
I expect the 188 nations that are members of the IMF to remain steadfast with developing the consensus from the 2010 agreement. But the other nations and territories, well that is a concern, and they are at risk.
The empire is at risk, they are talking about everyone’s money and assets.
Thus, bribery, coercion, murder, and armed conflict are all on the table as command orders will be obeyed or else.
Military alert, state of emergency, or martial law is not too far a stretch for Puerto Rico in my imagination.
The above is only one possibility among many, in my opinion.
Of course I wish it never comes to that, but if I don’t talk about that possibility, who will?

On the heels of emergency closed door meetings recently, this smells of trouble brewing…

Treasury 10-Year Yields Tumble on Global Economic Data: Chart
My attention is drawn to look at how the insurance, pension, and hedge funds will flee from the “risk” of a collapse of both the falling Bond yields, and failing economies in the emerging markets.
New rules are being written (reforms and restructuring, recall digital currencies and the cashless society) in an environment of fraud, distrust, odious debts, and failing economies.
How will the Puerto Rico, Japan, China, Brazil, S.Korea, Argentina, governments (central banks) respond?
The globalists’ push toward a cashless society along with mandatory tax compliance is expected to intensify.
My guess is that selective stocks are likely to see a stampede? Only a guess, because institutional investors must seek yields for their trusts and fund portfolios.
If more governments default then the gold bullion stampede would be the last resort in a full-blown institutional panic as social unrest face-off against governments/central banks.
Puerto Rico and Detroit may have been important warning signals for the U.S..

Below are some of the discussions from professional investors. ~Ron

A Fed official’s comments that markets may be underestimating the odds of a June rate increase did little to move the needle among bond traders. With Treasury investors focused on data out of Europe and China, yields on 10-year U.S. notes tumbled by the most since Feb. 8. At the same time, the probability of a June rate hike fell to 8 percent, four percentage points less than the odds that had been in place since April 28, the day after Federal Reserve policy makers left the benchmark unchanged. –Bloomberg

Title: Treasury Secretary: Need for Action on Puerto Rico Crisis Is ‘Urgent’
Video posted 03 May 2016

Title: Michael Pento-Market Losing Faith in Value of the Dollar
Video posted 03 May 2016

U.S. Treasury Gives Explicit Warning To China, Germany And Japan Not To Devalue Their Currencies

While the US Treasury’s semi-annual report on the foreign-exchange policies of major U.S. trading partners has traditionally been, pardon the pun, a paper tiger, as the US has not named a single country as a currency manipulator since it did so to China in 1994, and it didn’t go so far as to blame any country as an outright manipulator in the just released April edition, there was a new addition to the latest report.

In an inaugural “monitoring list”, the US put five economies including China, Japan and Germany (as well as South Korea and Taiwan) on a new currency watch list, saying that their foreign-exchange practices bear close monitoring to gauge if they provide an unfair trade advantage over America.

Read what it said: Zerohedge.com
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1 Crime Lord_missionaccomplished
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RELATED:
https://ronmamita.wordpress.com/2013/12/10/detroits-executioner/
https://ronmamita.wordpress.com/2013/12/06/ailing-u-s-economic-symptoms-is-spreading-puerto-rico-on-the-brink-of-default/
https://ronmamita.wordpress.com/2014/02/24/puerto-rico-don-capone-quixote-and-winds-of-change/
https://ronmamita.wordpress.com/2015/02/10/puerto-ricos-sovereign-debt-crisis-suffers-blow-from-federal-court/
https://ronmamita.wordpress.com/2016/04/18/the-april-emergency-the-central-banks-dont-want-you-to-know-about-p2/
https://ronmamita.wordpress.com/2016/04/12/the-april-emergency-the-central-banks-dont-want-you-to-know-about/
https://ronmamita.wordpress.com/2016/03/25/2016-worldwide-economic-data/
https://ronmamita.wordpress.com/2016/03/22/21st-century-money-mafias-geopolitical-countdown-to-fireworks/
https://ronmamita.wordpress.com/2015/06/17/this-time-the-most-embarrassing-thing-to-say-will-be-no-one-saw-this-coming/

All Wars Are Bankers' Wars
______________________________________________

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9 comments on “U.S. Treasury Fears The Currency War, Issues Threats…
  1. RonMamita says:


    Recall the prediction or geopolitical script being carried out.
    Flashback 1988: “Get Ready For A World Currency by 2018″ – The Economist Magazine!

    The U.S. Decline Is A Controlled Demolition, RIGHT?

    The end of the U.S. faux leadership was planned long ago, according to many (such as Catherine A. Fitts, and other executive insiders).
    The Dollar’s effective influence is slipping.
    The dollar is losing its value against all of the precious metals, Silver rose 1.7% on Friday to $17.80 an ounce, Gold jumped 2.2% on Friday to $1,294.90 an ounce.
    See: http://wolfstreet.com/2016/05/01/dollar-loses-yen-euro-risk-vix-vxx-fleeing-into-gold-silver/

    After hitting a 13-year high in January, the trade-weighted US dollar has subsequently lost steam, hammered by soft US economic data and hence diminished odds of Fed rate hikes. Speculators have reinforced the greenback’s decline by taking their net long positions to the lowest since 2014.-NBF Economics and Strategy team in a note to clients

    *Remember that institutions are guiding the markets, the institutional investor: banks/trusts/hedge funds/insurers

    So, how will the U.S. Territories be managed or mismanaged?

    Unfortunately for Puerto Rico, none of its cities or public companies have access to U.S. bankruptcy protections. Puerto Rico is at risk of the Vultures swooping in an taking ownership of properties and other sweet assets.
    $72 billion dollar debt is coming due…

    My question is, who will protect Puerto Rico?
    If Puerto Rico gets protection – that is interesting in itself, then this crisis fizzles on the slow boil with the rest of the world. But, if no protection manifests… then woes fall on the puertorriqueñas. ~Ron

    Title: US Treasury Defaults on Bonds Issued Through Puerto Rico
    Video posted 03 May 2016

    China makes biggest yuan move in 11 years

    **The IMF has accepted the Chinese yuan (RMB) into the jet set currency club of elite currencies.
    The SDR basket has gone from 4 to 5 members!
    It marks a turning point for China with its acceptance as a global economic power and agreements (obligations & commitments) to the money mafia and worldwide hegemony.
    Is ritual human sacrifice still required (world war)?

    Apparently, (to me and other conspiracy researchers), China is and will continue to make strategic moves to their national currency and other structural reforms prior to the enforcement date for the new SDR basket of reserve currencies.
    The effectiveness of the new SDR basket starts on October 1, 2016.
    Read: IMF’s Fact Sheet 6 Apr 2016 “Review of the Special Drawing Right (SDR) Currency Basket”

    -Search For What Is Really Happening-
    …According to the Council on Foreign Relations (CFR) over the past seven years, the swaps have been used by central banks to obtain foreign currency to boost reserves and to lend on to domestic banks and corporations.

    While the terms of swap agreements are designed to protect both the central banks involved in the swap from losses owing to fluctuations in currency values, there are some risks that a central bank will refuse, or be unable, to honour the terms of the agreement, the CFR noted in a report.

    For this reason, lending through currency swaps is a meaningful sign of trust between governments. It can also be a sensitive domestic political issue.
    This, clearly, could be one of the reasons why the Nigerian government does not want to hurriedly divulge full details of its trip to China, especially in the area of a currency swap deal that had been widely reported.

    President Muhammadu Buhari recently travelled with a high-level government delegation to China where he signed a $6 billion deal to fund joint infrastructure projects.
    During Buhari’s visit to Beijing, the Industrial and Commercial Bank of China Ltd (ICBC), the world’s biggest lender, and Nigeria’s central bank signed a deal on yuan transactions.
    “It means that the renminbi (yuan) is free to flow among different banks in Nigeria, and the renminbi has been included in the foreign exchange reserves of Nigeria,” Lin Songtian, Director General of the African Affairs Department of China’s foreign ministry, told reporters.
    Minister of Finance, Mrs. Kemi Adeosun, said recently that Nigeria was looking at Chinese panda bonds – yuan-denominated bonds sold by overseas entities on the mainland – adding that they would be cheaper than Eurobonds.

    Nigeria’s central bank has said it plans to diversify its foreign exchange reserves away from the dollar by switching a stockpile into yuan. It converted up to a tenth of its reserves into yuan five years ago.

    Lin said a framework on currency swaps had been agreed with Nigeria, making it easier to settle trade deals in yuan. –http://www.thisdaylive.com/index.php/2016/05/04/naira-volatility-currency-swap-deal-to-the-rescue/
    [BREAK]

    Important to note, less than a week ago (29 Apr 2016), China’s national currency (Yuan, or Renminbi, or RMB) moves relative to other currencies:
    China’s central bank fixed the yuan 0.5% higher to give the currency its largest one-day appreciation since the historic revaluation.

    The People’s Bank of China set the midpoint of the yuan trading range at 6.4589 to the U.S. dollar.
    Market reaction to the move has been mild with the Shanghai Composite Index and Hang Seng Index only retreating slightly, while Japan’s market is closed due to a national holiday.

    China pushed through the biggest move on the exchange rate for the yuan since 2005.
    Wednesday’s cut came after China on Friday raised the yuan-dollar exchange rate by 0.56 percent from the previous day.

    SHANGHAI — Mainland China’s central bank on Wednesday fixed the yuan currency nearly 0.60 percent weaker against the U.S. dollar, according to the national foreign exchange market, the biggest downward move since devaluing the unit in August last year.

    The People’s Bank of China set the value of the yuan — also known as the renminbi (RMB) — at 6.4943 to US$1.0, weakening 0.59 percent from the fix of 6.4565 the previous day, according to data from the Foreign Exchange Trade System.

    Mainland China only allows the yuan to rise or fall 2 percent on either side of the daily fix, one of the ways it maintains control over the currency.

    Analysts said the weaker fix was in line with strength in the U.S. dollar on Tuesday, as financial authorities seek to make trading more market oriented.

    The U.S. dollar rose against most of its peers Tuesday as global growth worries swept equity markets and pushed oil prices lower, boosting demand for the safe-haven U.S. currency.

    “To maintain a stable currency market, the RMB weakened accordingly,” Liu Xuezhi, an analyst at the Bank of Communications, told AFP.

    Wednesday’s cut came after China on Friday raised the yuan-dollar exchange rate by 0.56 percent from the previous day, the biggest increase in almost 11 years. […]

    The world’s second-largest economy rattled global investors with a surprise devaluation last August, when it guided the normally stable yuan down nearly 5 percent over a week.

    The yuan was quoted at 6.5000 at 4:30 pm (0830 GMT) on Wednesday, down 0.40 percent from Tuesday’s close of 6.4743, according to the Foreign Exchange Trade System.

    Title: China Revalues Yuan RMB
    Video posted 29 Apr 2016
    ____________________________________________

    Title: Economy and Interest Rates Near 0%! Only Fed QE4 Can Prop Up Stock Market!
    Video posted 27 Apr 2016

    Title: Keiser Report: ‘I’m from Goldman Sachs, and I’m here to help’ (E909)
    Video posted 03 May 2016

  2. RonMamita says:

    21st Century Muddy Waters:

    Dark Storm Cloud
    I peer into this Age of Deception, the worldwide matrix seeking to control mankind, and it is not at all clear what the outcome will be…

    21st century Tug O War Hegemony Leadership
    – Worldwide Hegemony –
    There are the elite globalists with hidden hands (controlling the most powerful militaries) that are attempting to engineer the collapse and reset the system, resulting in a diminished role for the U.S. and increased roles for Russia and China leading a enslaved world into the next century…

    There are wealthy “citizens” thinking the “reset” and the return to the “rule of law” is all available through the courts’ legal system…

    There are armed “citizens” thinking that removing criminals and enforcing decrees with armed militia is the solution (the U.S. patriots imagine the military and police will join their efforts), armed rebellion…

    – Stop Feeding The Beast –
    All the above efforts continue to feed the Beast.

    My wish is that post 9/11 (2001), post 2012 prophesy, post obvious recent false flags, the level of awareness is reaching a tipping point for sweeping changes and a transition.
    A level of Awareness that realize this beastly system needs to be starved.
    With this awareness, can the People gain momentum to overturn the globalists’ system during this transitory state?

    Without massive grassroots Boycotts, Walkouts, and Job-strikes to starve the Beast, I do not think the People will see Freedom.

    Muddy waters indeed.

    Quandoque vero est de creando novo fregit et melius quod reficit.

    Parfois, il ne s’agit pas de réparer ce qui est sans le sou, mais créer quelque chose de nouveau et meilleur.

    Sometimes it is not about repairing what is broke but creating something new and better.

    Talking about Massive Boycotts & Strikes, below is a video with a taste of things to come?
    It’s Illegal For Teachers To Job-Strike!
    The teachers decided to call in SICK, as in sick and tired of this unfair crap!

    Title: Detroit Teachers Shut Down Schools for Second Day Over Lack of Pay
    Video posted 05 May 2016
    _________________________________

    TTiP – Another Example of Geopolitical Tug-O-War For Leadership Of The Hegemony?

    Title: NEWS AND VIEWS FROM THE NEFARIUM MAY 5 2016
    Joseph suspects there is much more lurking in the background

    • RonMamita says:

      New Rules Worldwide

      Are you hearing the chorus on mass media for the return to the “Rule of Law“?
      If not, then I expect you will hear it often in the months ahead:
      Enforcing mandatory compliance
      digital currency
      mandatory bank account
      carbon capital accounting
      taxation

      Will the NWO get away with these reforms for the system reset?

      With crisis management strategies, a false flag, mass media hype, emergency summit, martial law, state of emergency, or war I expect they will try.

      Meanwhile the corporatocracy continue with the silent war:
      Weaponized NEWS as propaganda and public opinion manipulation
      Chemtrails, geoengineering, weather manipulation
      Biotech, GMOs and pesticides
      Vaccines
      Compulsory schooling as indoctrination
      Human experiments (genetic manipulation, cloning, nanotech, RFID identification/tracking, etc)

  3. RonMamita says:

    Focus On The Money Mafia

    James Corbett and James Pilato discuss open source intelligence news and discern the deception in efforts put an end to the mass deception.
    Mass media NEWS popularity and trust are down drastically!

    Jim Sinclair: Have you been damaged by the manipulation of gold and silver?

    By Jim Sinclair JSMineSet.com Tuesday, May 3, 2016

    Dear CIGAs,

    I have been exploring and analyzing the present and proposed litigation of Gold and Silver Precious Metals (PMs). I have reached some conclusions and want to share my views and offer you an important opportunity to join with me to address this problem in a never before used litigation approach.

    Are you a PM share investor? … A PM producer? … A company whose business was injured as a result of the manipulation and suppression of the price of Gold or Silver? If so, please email me as soon as possible, and provide contact information for me to confer with you. If your entity meets the above criteria, I will speak with you personally as soon as possible.

    I have investigated Class Action Suits, and other conventional causes of action. I have not been satisfied by my findings. We not only need a cause of action, we need a prevailing case. We need a winning plan of action, not just another law suit on top of the heap of other emerging law suits.

    After analyzing, investigating and brain storming with various legal counsel, a Class Action Suit doesn’t seem to be the best strategy or tactic for recovering from the market rigging of PMs. It seems apparent that Class Action Suits have too many drawbacks. After careful research, I believe Class Action Suits for redress of PM manipulation will fail due to many of the drawbacks.

    Some of the drawbacks are:

    Even if successful, the classes may be so large that very little is ultimately returned to the plaintiffs in a settlement.
    Class Actions are long, protracted litigation and assets of the defendants may evaporate long before settlement. Class action suits can take a decade to resolve.
    Many Class Actions are framed inaccurately regarding who is eligible to be a member of the Class.
    The definition of eligibility for Class standing may be too broad and encompass too many plaintiffs.
    Many Class actions initially fail in Summary Judgment.
    Class Action complaints may be ill-presented and not truly representative of all members of the Class since often some, but not all issues apply to the entire class. This is too cumbersome.
    The costs of a Class Action are prohibitively high.
    Not all Class Action witnesses represent all members of the Class, or all issues. Often, witnesses are too academic rather than factual (evidentiary) or probative of actual damages.

    The above are just some of the drawbacks to Class Action Suits. We do not choose a Class Action Suit for the above reasons. We plan to win so a winning structure to litigation is fundamentally important to a positive and successful outcome.

    I believe after careful consideration, we have found the structure and method of winning in litigation against market manipulators. If you are an executive, decision-making officer of a PM producer, or in the process of becoming a PM producer, or an otherwise already operating entity in the production of PMs, and have damages due to the rigged manipulation of the PMs markets, please email me. I welcome your email and will reach out to you. Your entity can be operating anywhere in the world. I am not proposing a Class Action Suit, but we need each other for our mutual benefit in this litigation. I am happy to reach out to parties who have been financially injured and may be interested in participating with us in this dynamic, never before applied litigation strategy.

    No money is being asked of you. We are not soliciting funds to finance litigation, and we will not solicit litigation financing from you during the litigation process. This is a contingent fee litigation, which means legal counsel and expenses for litigation are paid, and only paid when we win.

    A few moments of time can determine our mutual needs, desires and benefits. Due to the manipulation which suppressed PM prices, we producers and those becoming producers have been significantly damaged. We need to overcome the apathy this suppression of the PM price has created in the producer’s industry. We need to overcome the inertia these suppressed PM prices have created and move forward to recover our damages. We need to act as expeditiously as possible.

    Once interested parties are on board, we will arrange a conference call with legal counsel. Our legal counsel will present the revolutionary framework for our successful litigation against those who have manipulated the price of PMs and financially harmed us due to their actions.

    For our JSMineset readers, I request that you urge the production entities you are involved with to discuss this important opportunity with me. Together we can make the difference. Speak with the decision makers of the companies you are invested with and urge them to contact me if I have not already reached out to them. In these matters, bigger is better. Your influence can help and support this cause, and will make the difference. Urge the companies you are invested with to send an email to me and provide a phone number for contact. Do you want all of your losses and damages back? I do! Wake up your company and ask them to have their decision-making representative email me so we can arrange a conference. Because neither you nor your company will recover your damages and losses by just hoping, we must act. Time is short for this window of opportunity. You have the power. Talk with your companies and take action by asking them to email me.

    This opportunity will not last long. The window of opportunity will close quickly. Billions of dollars are a potential recovery in this never before applied legal framework. Your PM companies need to join us. Please urge your PM company to email me at TRECEO108@gmail.com.
    We are in this together, and we are in it to win it.

    Best Regards,
    Jim Sinclair

    Title: REALIST NEWS – Jim Sinclair To Sue The Precious Metals Market Riggers
    Video posted 04 May 2016

    • RonMamita says:

      Hong Kong to gain as China streamlines cross-border gold trade

      Wednesday, 04 May, 2016 scmp.com by Enoch Yiu

      Gold trading between Hong Kong and China is expected to rise with the People’s Bank of China announcing on Wednesday a rule change from June 1 to simplify cross-border shipment procedures that would help speed up gold imports into the country.

      Companies that frequently import and export gold and gold products will be allowed to apply for a single permit that can be used for up to 12 shipments, the central bank said in a statement on its website.

      China currently has only 15 authorised gold importers, including major banks such ICBC, which need to register every single shipment.

      Gold traders said the rule change would benefit not just mainland Chinese gold importers but also Hong Kong gold traders that deal with mainland importers.

      “Since mainland China is the largest gold producer and consumer worldwide, the simplification of rules will speed up imports and hence promote more cross-border trading,” said Gary Cheung, chief executive of Tung Shing Bullion (Brokers).

      Cheung said gold is often imported from overseas into Hong Kong before being re-exported to mainland China, so gold dealers in the city would benefit from the easier shipment procedures.

      “China has been very keen to promote the gold industry and the latest PBOC move would help its market develop further. This will also help in the internationalisation of the yuan by promoting more cross-border trading of gold,” Cheung said.

      The PBOC statement said the trial to simplify the rules will take effect from June 1 and would apply to ports including Beijing, Shanghai, Guangzhou, Qingdao, Nanjing and Shenzhen.

      Haywood Cheung, who is also permanent honorary president of the Chinese Gold and Silver Exchange Society, said China needs more such rule changes to increase its international influence in the gold market.

      “China is already the largest consumer of gold. Its growing wealth is encouraging people to buy both gold jewellery and gold bars for investment. Hong Kong, which is an international financial centre used for trading by many international gold firms, has a role to play in this process,” he said.

      The Hong Kong gold exchange has teamed up with ICBC to use its gold vault in Qianhai for Hong Kong gold jewellery manufacturers from September. For the longer term, it is planning to set up a gold vault in Qianhai two years later as a bonded warehouse to help Hong Kong jewellers with factories in Shenzhen.

      The gold vault may shorten the transportation time for manufacturers while also deepen the links between Hong Kong and Qianhai gold markets.

      Shanghai gold exchange last month started to introduce gold price fixing in yuan twice a day, which Haywood Cheung called an important move by China to increase its global influence.

      “China is now the largest gold consumer but it has no influence on international gold price fixing mechanism, which is still concentrated in London. Shanghai gold fixing and the other reform plans in China will boost the country’s influence in the international gold market,” he said.

  4. RonMamita says:

    Mass Awakening

    Profound Shift in Consciousness.
    Seeing the great deception:

    Title: Flat Earth Presentation On Macedonian Late Night Talk Show
    Video posted 05 May 2016

    You Have To Search and Research For Truth

    Something is wrong.
    There are paid Lobbyists, “Special Interests”, Human Experiments, Secret Agencies, Shadow Government & Banking, Conspiracies, Psyops, Disinformation, Social Engineers, Public Opinion Manipulation, mass media NEWS…
    Have you heard that this is the Age of Deception?

    Title: 10 Minutes For Those Who Laugh At “Conspiracies”
    Video posted 28 Apr 2016

    SHADOWRING : The Power Behind The Throne — Chris Emery

    Interview posted 03 May 2016
    Free Mind Films Producer Chris Emery joins me to discuss SHADOWRING, a new film that shines the light of truth on the puppet masters who control governments, central banks and nation states.
    The film was written by our friend James Perloff, author of Truth is a Lonely Warrior, and its narrated by Kevin Sorbo.
    SHADOWRING reveals the true globalist powers who pick CIA Directors, Treasury Secretaries and Presidents. This is the power behind the throne. Share this film with anyone you want to wake up.

    FREE MIND FILMS: Buy the movie, support the filmmakers!
    http://freemindfilms.com/films/shadowring/

  5. RonMamita says:

    What Is Puerto Rico’s End Game?

    May 5, 2016 1:45 PM ET

    Summary

    Puerto Rico defaulted on its $400 million debt payment.

    A $2 billion default looms in July 2016.

    Absent debt restructuring, Puerto Rico is a disaster.

    In the game of chess, when most of the pieces are gone from the board, the superior player can likely win if he has a good “end game” and knows how to use the remaining pieces to corner his opponent and declare checkmate.

    Is there an end game in play right now for Puerto Rico and its $70 billion in debt?

    This week, Puerto Rico defaulted on $422 million of debt payments. That followed earlier defaults of $37 million and $58 million in the past six months. Even more painfully, a $2 billion debt payment is due in July. There’s no relief in sight. Time is running out for Puerto Rico, and more and more pieces are disappearing from the chessboard.

    According to The New York Times:

    Puerto Rico’s default on most of a $422 million debt payment on Monday puts the spotlight back on Washington to enact a rescue package for the island, and congressional aides said a revised bill would be introduced next week. On Monday, Treasury Secretary Jacob J. Lew renewed his call on Congress to act swiftly, warning in a letter to House Speaker Paul Ryan that without a legal framework for a debt restructuring, Puerto Rico is in danger of getting caught in ‘a series of cascading defaults’ that could lead to a taxpayer bailout.

    ‘This is not just a matter of financial liabilities and litigation,’ Mr. Lew said in the letter, which was circulated to other lawmakers and released publicly. Late last year, Mr. Ryan instructed the relevant House committees to find a ‘reasonable solution’ for Puerto Rico.

    Investment fraud lawyers representing bondholders continue to duke it out with UBS and other banks who sold the bonds.

    The impact of the debt crisis has been brutal for Puerto Rico and its people.

    Puerto Rico’s government claims it has cut expenditures to the bone, jeopardizing vital services like police, fire department and hospitals.

    With almost one out of every two people on the island being dependent upon the government for their income, and with 230 people leaving the island each day, it is unlikely that Puerto Rico will be able to tax its way back to prosperity.

    […]
    In the hopes of getting its creditors to agree to a restructuring, Puerto Rico passed a debt moratorium law that gives its governor the power to halt payments by the Government Development Bank.
    The most likely outcome is that Congress will agree to a weak solution where a financial control board takes over Puerto Rico’s finances, but with limited authority to restructure the debt.
    At best, a financial control board could gather all the major creditors and seek a voluntary debt restructuring or roll back. But that outcome is highly uncertain.

    Puerto Rico needs to establish a true end game if it is to have a chance of escaping disastrous consequences and ultimately winning a very dangerous contest being waged by Congress, its creditors and its government. Time is of the essence.

    Zamansky LLC are securities and investment fraud attorneys representing investors in federal and state litigation against financial institutions.

  6. RonMamita says:

    Title: GOLD, SILVER & OTHER TRUTHS in a Sea of Lies — Andy Hoffman
    Video posted 06 May 2016
    Andy Hoffman joins me to discuss the sorry state of the U.S. economy

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The Worldwide Wave of Action
Peaceful Global TransitionApril 4th, 2014
Exercise freedom and creativity for all Earth’s inhabitants to explore ready breakthroughs in Self Organizing Communities, economics, and technology. This is a D.I.Y. project
State Sponsored Terror
The Big Day ReportFebruary 2nd, 2014
Institutions of crime Big days have come and gone (government Elections, and Tax filing). Search for what is hidden and for what is not spoken. Be Aware of the next big Day for fraudulent institutions.
RonMamita
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