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Dollar Dives, Gold Thrives, Puerto Rico Defaults

from Peter Schiff:

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2 comments to Dollar Dives, Gold Thrives, Puerto Rico Defaults

  • Craig Escaped Detroit

    So, let me get this right.

    Puerto Rico’s problem is a RESULT of letting P.R. do their bond issuance, without government controls.

    They were FREE from government regulations. Let the FREE MARKET regulate itself. And so, the FREE market of PR sold as MANY empty bonds as the FREE MARKET wanted to buy.

    Now it’s into default, and the NEXT thing that SHOULD happen, is the FREE MARKET should let PR fall down like Zimbabwe. Starve to death. But the people who TOOK all that bond money, they are RICH. Yep.

    Free Market capitalism working very well.

    There are times and places where government CONTROLS are really needed. This shows it.

  • Craig Escaped Detroit

    OK, with the “Jones Act”, PR cannot have any shipping but from American shipping comnpanies. I’ll bet a LOT of smuggling takes place under the table.

    Minimum wage too high? Then do like every housing builder does, hire independent CONTRACTOR workers (carpenters, brick layers, etc)

    Got some other business? How about automation & robots?

    Imported goods too high? Build them locally. Make and sell stuff in those “Free Trade Zones”.

    There is ALWAYS a way to squeeze your way around a system. Look at the black market DRUG trade, sex trade, etc. Those things have NEVER been shut down by “regulations”.

    Of course, you also have to watch out for strong-arm tactics by those who have the monopolies and would LOSE money if you find a way to get around their game. If you start growing all your own food instead of importing it, you’re gonna be taking money away from the “importer-mafia”. Your farm machinery might burn down, you might be “requested” to pay “protection money”, etc.

    Big money, big contracts, require BIG muscle to keep from getting “muscled”. If you’re gonna unknowingly step on some very powerful, angry toes, you’d better have a plan to deal with it before it reveals itself.

    You’ll have to deal with the little thugs who barge into your office, and who follow you & your family.

    You’ll have to deal with judges & cops taking bribes from the bad guys to shut you down.

    It gets “complicated”. They only leave you alone if you are SO small that you are never noticed. Open any kind of store, and you’re big enough to be noticed.

    Start making money, and you’re big enough to get squeezed. Resist and you can end up dead.

    I used to operate a couple of small businesses. I’ve got friends who operated businesses that made over a million bucks, and THEIR “encounters” were very scary. The politics, the mafia, the freelance criminals, the local cops, the FEDS, etc.

    If you’re not incredibly lucky to have great connections and great planning, then you’re in for lots of losses or worse.

    I can see WHY it’s easier to start and run a small drug dealing business than it is to try to make a LEGAL business.

    My legal businesses, the PAPER WORK was daunting. Finding worthy & honest people to work for you, seems impossible. The taxes, fees, and licensing, inspections, etc, never lets you rest.
    The bank paperwork, the income taxes, inventory documentation, corporation paperwork, accounting, etc.
    Collecting payments (always slow to arrive), and paying out the bills (goes out fast or you lose your suppliers), and the bounced incoming checks, etc.

    But an ignorant drug dealer street dealer? No paperwork. No fees, inspections or licensing.
    The “BUYERS” are lined up with CASH payments up front. No questions asked. etc.
    You don’t even have to acquire a building. You just squat in some empty buidling, NO RENT, No insurance, No permits.

    The black market thrives for ALL those reasons.

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