[Stingray51]

I don’t understand why you say that the bonds issued by Puerto Rico were issued in our (the USA’s) name - could you please explain? My understanding is that the bonds were issued by the government of Puerto Rico and that the commonwealth’s government and the bondholders were all sophisticated parties represented by big-time lawyers who were familiar with P.R.’s legal inability to invoke bankruptcy protection.

[ronnietherocket3]

I don’t understand why you say that the bonds issued by Puerto Rico were issued in our (the USA’s) name - could you please explain? My understanding is that the bonds were issued by the government of Puerto Rico and that the commonwealth’s government and the bondholders were all sophisticated parties represented by big-time lawyers who were familiar with P.R.’s legal inability to invoke bankruptcy protection.

Since the government of Puerto Rico was created by the US government (and is not a state government) and can be dissolved by the US government, it may very well be that any bonds (or other debt) issued by Puerto Rico is backed by the United States.