Puerto Rico may NOT have to pay $72 billion, after all!


“ODIOUS DEBT” … here’s hoping!!
“In international law, an “odious debt” is an illegal debt that hurts an entire nation…and therefore does not have to be repaid.”

WAR AGAINST ALL PUERTO RICANS

Book - 12-10

In international law, an “odious debt” is an illegal debt that hurts an entire nation…and therefore does not have to be repaid.

Many legal scholars have written that Puerto Rico’s $72 billion debt is “illegal and odious” and therefore should not be paid. But yesterday – on June 2, 2016 – this became more than a “legal theory,” when Gov. Garcia Padilla announced that much of Puerto Rico’s debt is “odious” and, quite possibly, will not be repaid.

In a wild and heated press conference, the Governor unveiled a 43-page audit report from the island’s Public Credit Comprehensive Audit Commission. (PCCAC)

The PCCAC report found that $4.4 billion of the current debt violated the debt limitations of Article VI, Section 2 of the Puerto Rico Constitution, and therefore qualifies as “odious debt.”

http://www.elnuevodia.com/negocios/economia/nota/mitaddeladeudapodriaserinconstitucional-2205945/

http://www.marketwatch.com/story/puerto-rico-could-seek-to-invalidate-over-4-billion-of-debt-2016-06-02

In addition, many other portions of the $72 billion debt may have:

  • violated bond-duration time…

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This entry was posted in Equality by Dr. Rex. Bookmark the permalink.

About Dr. Rex

I'm originally from Puerto Rico. I was born in Santurce and raised in Rio Piedras. Have lived in Florida since 1999. I have a doctorate degree in Medicine; completed in 1976. My Internal Medicine specialty was completed in 1979. Worked for Puerto Rico's health system until 1985. At this time, I'm happily retired after working for the federal government for almost 28yrs. I want to offer any knowledge that I have to anyone "out there" who is interested. My views are liberal in almost every sense. My knowledge is "eclectic" - a bit of everything. Music and reading are my passion. Blogging has also become a very interesting endeavor. Metaphysical topics attract me. I'm interested in news reporting human issues like injustice, discrimination and abuse - the "wrongly" affected. My intention is to bring this knowledge to an understandable level and to help anyone in need. I'm open to questions and will answer them to the best of my ability. Currently working on an enterprise whose main mission will be to bring peoples of all walks of life together. To be one .... since we ALL are ONE!! The future looks bright and promising!!!

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