Puerto Rico debt restructuring signed into law
A law written by Republicans and signed today by President Obama will allow the federal government to restructure Puerto Rico’s debt and freeze bonds owned by American citizens.
The article notes correctly that the restructuring of those bonds is essentially in direct violation of the fifth amendment, which states that no American can “be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.” The article also notes that the law includes provisions that nullify the right of those citizens to go to court to challenge it.
The webpage that published the article is a big Trump supporter. And who can blame them when the Republican party works hand-in-glove with the Democrats to nullify the Bill of Rights. As they note, “Not hearing any shouts or screams from Mark Levin, Ted Cruz or Mike Lee are you? Yeah, funny that… Remind me what ‘conservative’ means again?”
As my readers know, I am not a fan of Donald Trump, and do not expect him to do anything different than the Republicans and Democrats who passed this unconstitutional law. Yet, I also understand why he is doing as well as he is. The American public is not being represented in any way by those in power, and thus the public wants someone outside that cartel to shake things up.
Readers!
Every February I run a fund-raising drive during my birthday month. This year I celebrate my 72nd birthday, and hope and plan to continue writing and posting on Behind the Black for as long as I am able.
I hope my readers will support this effort. As I did in my November fund-raising drive, I am offering autographed copies of my books for large donations. Donate $250 and you can have a choice of the hardback of either Genesis: the Story of Apollo 8 or Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space. Donate $200 and you can get an autographed paperback copy of either. IMPORTANT! If you donate enough to get a book, please email me separately to tell me which book you want and the address to mail it to.
Please consider supporting my work here at Behind the Black. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
A law written by Republicans and signed today by President Obama will allow the federal government to restructure Puerto Rico’s debt and freeze bonds owned by American citizens.
The article notes correctly that the restructuring of those bonds is essentially in direct violation of the fifth amendment, which states that no American can “be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.” The article also notes that the law includes provisions that nullify the right of those citizens to go to court to challenge it.
The webpage that published the article is a big Trump supporter. And who can blame them when the Republican party works hand-in-glove with the Democrats to nullify the Bill of Rights. As they note, “Not hearing any shouts or screams from Mark Levin, Ted Cruz or Mike Lee are you? Yeah, funny that… Remind me what ‘conservative’ means again?”
As my readers know, I am not a fan of Donald Trump, and do not expect him to do anything different than the Republicans and Democrats who passed this unconstitutional law. Yet, I also understand why he is doing as well as he is. The American public is not being represented in any way by those in power, and thus the public wants someone outside that cartel to shake things up.
Readers!
Every February I run a fund-raising drive during my birthday month. This year I celebrate my 72nd birthday, and hope and plan to continue writing and posting on Behind the Black for as long as I am able.
I hope my readers will support this effort. As I did in my November fund-raising drive, I am offering autographed copies of my books for large donations. Donate $250 and you can have a choice of the hardback of either Genesis: the Story of Apollo 8 or Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space. Donate $200 and you can get an autographed paperback copy of either. IMPORTANT! If you donate enough to get a book, please email me separately to tell me which book you want and the address to mail it to.
Please consider supporting my work here at Behind the Black. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
The other day, Hillary knocked Trump on stiffing bond holders. Wonder if if the Democrat media will be as upset when the government does it?
WSJ has a lengthy article on Puerto Rico in todays issue (7-1-16) & they have been following the whole situation right along.
Republican & Democrat leadership worked hand-in-glove on this deal, and pushed it through in record-time.
Puerto Rico is not covered under Federal Bankruptcy laws like regular Municipalities (think Detroit, among scores of others) & now PR Creditors have very little, if any, recourse. They will have to accept whatever deal is dictated to them.
Wodun: They (democrat media) don’t care. Some of us, like you, will note the grim irony, but most will not.
This will have to face a Court test on Constitutional grounds.