The first meeting of the US Financial Control Board over Puerto Rico (FCB) lasted only 30 minutes. But this was enough time for the FCB to take over the island’s entire economy.
The FCB declared its jurisdiction over the island’s electrical grid (PREPA), water supply (PRASA), university system (UPR), central bank (BGF), and the all the public pension & retirement systems.
But the Control Board did not stop there.
As shown by the following list, the FCB now has dominion and control over the entire public infrastructure of Puerto Rico:
(a) electricity and power (PREPA)
(b) water and aqueducts (PRASA)
(c) highway and transportation
(d) public housing
(e) port authority
(f) convention center
(g) public finance
(h) housing finance
(i) municipal finance
(j) Economic Development Bank
(k) Government Development Bank (GDB)
(l) Industrial Development Company
(m) Tourism Company
(n) Public Finance Corporation
(o) State Insurance Corporation
(p) Children’s Trust Fund
(q) Sales Tax Authority (COFINA)
(r) Public Private Partnership Authority
This extensive list begs two questions to be asked:
EVERYTHING IS HAPPENING BEHIND CLOSED DOORS
It appears that most of the FCB decisions are occurring behind closed doors, and outside the public view.
They have conference calls, luncheons, conversations and “retreats,” which are not technically “meetings” but are the de facto means of discussing business and generating consensus.
Then they hold a 30-minute meeting, where they take over an entire national economy with remarkable speed, minute detail, and surgical precision.
Then they hold a 15-minute press conference, where they declare their “openness and transparency.”
For a history of the War Against All Puerto Ricans, read the book…
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