Puerto Rico Declares BANKRUPTCY! – Panic As Economy Collapses!

Josh Sigurdson sits down with author and economic analyst John Sneisen to talk about the continued collapse of the Puerto Rican economy as public sector debts total almost 74 billion dollars which is around 100% GNP.
It took a long time for Puerto Rico to admit their bankruptcy as we at WAM ourselves declared Puerto Rico bankrupt in July 2016 in our first report on the subject.
The government of Puerto Rico acknowledged in 2015 that they could not pay their debts followed by a U.S. bail out.
Josh and John explain what is currently happening in Puerto Rico and what this will inevitably lead to as the problem gets worse.
People in Puerto Rico, being American citizens can escape the debt by flocking to mainland, however that simply leads to the remaining public being extorted and paying more.
As John mentions, a debt jubilee isn’t likely any time soon and the problem will certainly get worse before it gets better, but people can protect themselves by getting off the centralized grid and decentralizing.

Stay tuned as we continue to cover this developing story!

Video edited by Josh Sigurdson

John Thore Stub Sneisen
Josh Sigurdson

Graphics by Bryan Foerster and Josh Sigurdson

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  • 420kushmaster

    the ice agent that blew his brains out at the pier N.Y. last year may 9th said on his suicide note to watch for Puerto Rico bankruptcy…….

  • watcher on the wall

    constructive criticism if i could without offending……? but it would appear much more professional if you guys were facing each other or even on a 30′ angle to each other and did not stare blankly at the camera when you were not talking but look at each other as though it was just a talk caught on camera …. know what i mean ? it does not hurt to glance towards the camera once in a while but its weird seeing someone staring at it for lengths of time …. thats just weird

  • Laura Wright

    My husband owns a Bankruptcy Law Firm and this is not a fact but rumors are circulating. If and when they file Bankruptcy it’s not a complete liquidation. These guys need to learn to explain how it will go down but they don’t no the law of Bankruptcy. If you’re going to post a video concerning Puerto Rico then you need to know how’s it’s done and explain the law. The United States is in absolutely NO DANGER of going Bankrupt!

  • watcher on the wall

    to make things a magnitude worse in canada , where recycled wall mart bags are used for fiat currency there is nothing at all to back the dollar with since the government sold all the citizens gold reserves of 1000 tons saying it was worthless , and did not apply any of that……. the peoples money to the debt, without even an explanation of where it went or where the sale of that was applied ….. unbelievable theft

  • sherrcon

    Venezuela, Brazil and now Puerto..next will be Mexico; then eventually the US..economists have been talking and predicting the dollar collapse..a good diversion would be war..

  • Mike OZ

    Everything is slowly burning down. Yet the markets keep going up?? When it all implodes the taxpayer will realize that it was their money propping up this vile corrupt illegal manipulation of the markets, I hope the people then march on the Fed, Rothschild, Soros, Banksters etc & drag them out into the streets & hang them all by the nearest lamp posts!

  • hangman1128

    A country declares bankruptcy for being in debt for only billions of dollars any United States is at 20 trillion and the printing presses just don’t stop.
    United States= print as much money as you can, crash the economy and write it off while everybody else pays the price.

  • Oliver Bates

    There is no bail out that is too big for those who can print money. There could be bail ins down the road in the USA but the banisters can keep the game going indefinitely as long as they have ink and paper to print our money.

  • hugh smith

    Keep an eye on Togo West Africa. Some guy ran off with eight million dollars. The government in response┬áraised the price of gas twice in a month. Riots broke out and they tried a black lives matter style protest.┬áThis┬ágot one fella┬ákilled by what is call “Flying bullets”┬áThings are ┬ágoing up in price fast.

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