The government is lying to 9 million Puerto Ricans

Book - 12-10

 

The U.S. and Puerto Rico are both lying to 9 million Puerto Ricans.

Both governments are claiming that Don Q Rum will deliver over $100 million per year to the treasury (i.e. the people) of Puerto Rico. But the exact opposite is true…$100 million per year will be stolen.

THE SERALLES SCAM

The Serallés family produces Don Q Rum.

They also had hundreds of slaves and thousands of sugarcane workers, during their reign as one of the richest families in Puerto Rico throughout the 19th and 20th centuries.

One month ago, Gov. Garcia Padilla turned over more than 34,500 acres of public land to the Serallés family in Ponce, to create an enormous sugarcane plantation. This land turnover was done through a “lease”…the exact terms of which have not been disclosed to the public, even though the 34,000 acres are public land.

In addition to planting sugar cane, the Serallés will use Acts 20 and 22 to avoid paying any interest, dividend, or capital gains taxes for the next twenty years….on their profits derived from this 34,000 acres of public land.

The Serallés mansion in Ponce, during the Great Depression

Both governments – the U.S. and Puerto Rico – issued press releases, claiming that the 34,000 land transfer will generate “300 jobs” and “10 million more gallons” of Don Q Rum.

According to the press releases, each gallon will return $10.50 to Puerto Rico, under the U.S. federal excise tax law.

This sounds like a good deal, yes?

THE REAL TRUTH

The real truth is this…

In June 2005, during the PPD administration of Gov. Anibal Acevedo Vila, a series of bonds were issued by the Puerto Rico Infrastructure Financing Authority. The bonds allowed Puerto Rico to borrow $1,332,962,916 ($1.33 billion dollars).

Page 1 of the bond financing instrument is very clear: “The Bonds are payable solely from…federal excise taxes imposed on rum and other articles produced in Puerto Rico.”

Page 20 shows a table of excise tax receipts, during the years 2000-2005, which totaled over $1.7 billion.

Page 22 states that the Serallés family is the second-largest producer of Puerto Rican rum, and that “Serallés has been producing rum in Puerto Rico since the mid 1800s.”

The last three pages show the 30-year repayment schedule of these bonds…all to be paid from the excise tax on rum, which is being pledged to the bondholders.

WHAT IS REALLY HAPPENING 

Eleven years later, in 2016, the government of Puerto Rico is broke. It is defaulting on all of its bond payments…so the US is sending in a Financial Control Board.

And so, in order to generate more excise tax revenue, the Gov. Garcia Padilla took 34,500 acres of public land, and converted it into a private, for-profit use by the Serallés family.

The will enable Puerto Rico to increase their payment to the bondholders, for this $1.33 billion debt created in 2005, by Gov. Anibal Acevedo Vilá.

If the Financial Control Board succeeds in lowering the minimum wage of young workers to $4.25, Puerto Rico will return to the 1930s…with sugar cane plantations paying starvation wages, and calling it “economic development.”

So what is really happening, is the creation of indentured servants…

All working for absentee landlords…

In order to pay off a $1.3 billion “loan” to the Gov. Acevedo Vila administration.

TWO CRIMINAL ORGANIZATIONS, COVERING UP THEIR THEFT

What is also happening, is that two criminal organizations are cleaning up their mess, and covering up their crimes. Because the PNP and PPD are really one political party…the PLP…the Party of Lining their Pockets.

With the arrival of a Financial Control Board, the PLP is scrambling to cover all evidence of their crimes.

The PNP wing of the PLP will do it through two cronies who are actually sitting on the Control Board…José Carrión III and Carlos Garcia…and Carrión is the Chairman of the Board.

The PPD does not have these cronies on the Financial Control Board. They are also running out of time, because they will probably lose the governorship within three weeks. For this reason, they are desperately using the real estate of Puerto Rico (34,000 acres of public land) to try to clean up their debt. Four months ago, on June 24, they tried to do it by “privatizing” the beaches of Puerto Rico.

Please review the 2005 bond instrument…particularly the page numbers provided above.

Just like Orwell’s 1984…the people of Puerto Rico are being told that black is white, that Big Brother loves them, and that a 34,000 acre scam is for “the people’s” benefit.

9 million Puerto Ricans – on the island and the mainland – are being lied to.

 

For a history of the War Against All Puerto Ricans, read the book…

War Against All Puerto Ricans: Revolution and Terror in America’s ColonyBuy it Now

Si prefiere ver la página web en español por favor visite: http://www.guerracontratodoslospuertorriquenos.com

7 Comments on “The government is lying to 9 million Puerto Ricans

  1. Pingback: Marco Rubio introduces a law, to lower the Puerto Rico minimum wage to $5 an hour! | WAR AGAINST ALL PUERTO RICANS

  2. Nelson,

    The deal will bring money that the country is not producing now. Weather it is for repayment, roads, wages, etc., that is another story. No one said the what the government will do with it. Re paying debt is better than not, and better than stealing it through corruption. If this ends up avtually happening, that is a whole different thing.

    Like

  3. Your attack on one of the most productive families of the island is simply ridiculous and bested only by your horrible logic.
    Let me get this straight, you think the Serralles fam. And Co. should simply not take the oportunity to:
    -Produce molases locally
    -kickstart a sector of agriculture that is pretty much dead
    -create some very needfull jobs
    – increase revenue and grow the business, a very big necesity around here
    – while increasing the business, create even more jobs and bigger deposits in local banks
    – keep the land in Puerto Rico hands as opposed to allowing foreigners like Monsanto, who are all over the place!
    And all because:
    – a Federal Excise Tax is pledged to Bonds repayment which was done years ago and will continue to be done regardless of this deal!
    Your lack of logic is shocking! This attack is quite absurd. No one wins with this. And regarding your answer to Karen Garnik, “the burden of proof relies on the accuser”. That would be easy, wouldn’t it? You, sir, are the one accusing.
    Honestly, this is a big let down from you. Sorry, we do not simply disagree, you are wrong.

    ________________________________________________________________________________________________________________

    When people are told “this deal will bring $100 million a year to Puerto Rico,” and that $100 million is NOT going to Puerto Rico, but is being re-routed to Wall Street investors…then people should know about it.

    They should not be LIED to, about where this $100 million is actually going.

    Like

  4. Remy: Your comments and attacks are lacking truthful information and correct facts. The land that is being used for the revival of sugar cane is leased and has not been handed over, like you are implying. The reality is that this project will in fact, create more jobs for Puerto Rico and actively help jumpstart the Island’s agricultural sector. In addition, it will allow Puerto Rico’s premium and preferred rum to be produced with locally grown molasses, not imported from neighboring Caribbean islands. We will again claim our coveted rums are 100% Puerto Rican.

    For 151 years the Serralles family has ben a key player in helping the Puerto Rican economy. Unlike many other companies that fled when the going got tough on Puerto Rican soil due to hte loss of 936, and most recently, with the fiscal crisis, Serrallés has pledged a commitment to continue producing its premiums rums exclusively from Puerto Rico. Even after Diageo decided to move its manufacturing operations to another US territory, Serrallés refocused its efforts and aggressively targeted potential customers for manufacturing of bulk rum, seeking to fill the gap that would harm the Island’s rum program and excise tax benefits.

    Since then, the company has successfully accomplished additional bulk rum production for an array of clients, and had accomplished a steady growth in its manufacturing operations, thus guaranteeing job, security and expansion. Furthermore, Serrallés has developed new rum products aligned with its commitment to quality and innovation that will help elevate the rum category in US and European markets.

    For 6 generations and more than a century and a half, Serrallés has been a part of Puerto Rican history, our traditions and an active supporter of cultural activities, economic development and tourism. Don Q is an active member of our family festivities, our victories and national pride. Rum cocktails such as the piña colada, originally crafted with Don Q Gold are internationally reknowned and celebrated across the globe. Every bottle of Don Q sold worldwide is produced in Ponce and although it may be battling agains Goliaths in the spirits industry, our Don Q goes out to battle with the same values and passion that make Puerto Rico unique.

    Your comments are ill-founded and misinformed.

    _______________________________________________________________________________________________________________________________________

    Thank you for your comment.

    Could you make the executed lease available to the general public, so that they can review and assess the details of the lease? That would be a great public service. We would gladly share the lease details, as well.

    Like

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