Puerto Rico in default!

Flag of Puerto Rico

The Commonwealth of Puerto Rico defaulted on its debt:

August 3, 2015

Puerto Rico has been dubbed “America’s Greece.” The island defaulted on its debt for the first time ever on Monday. http://money.cnn.com/2015/08/03/investing/puerto-rico-crisis-in-2-minutes/

August 3, 2015

SAN JUAN, Puerto Rico – The government of Puerto Rico has confirmed that it failed to make a $58 million debt payment that was due Saturday, a significant escalation of the debt crisis facing the U.S. island territory.

Puerto Rican officials had warned on Friday that they would not make the payment because the island legislature failed to appropriate the funds, but they argued it should not be considered a default.

Moody’s Investor Service said the missed payment was the first in what it believes will be broad defaults on commonwealth debt.

Government Development Bank President Melba Acosta Febo said Monday that Puerto Rico made a partial payment of $628,000 interest.

Gov. Alejandro Garcia Padilla said several weeks ago that Puerto Rico cannot pay its $72 billion in accumulated public debt and needs to restructure. http://www.foxnews.com/world/2015/08/03/puerto-rico-confirms-it-failed-to-make-58-million-debt-payment-saturday-as-debt/

The debt comes to around USD$20,000 for every man, woman, and child who lives in Puerto Rico. And that does not include whatever share of US federal debt that some may feel that Puerto Rico may have any responsibility for.

During part of the Greece crisis in late June, I warned that Puerto Rico might default (see Greece says it will default, stock markets drop, Puerto Rico also may default)–sadly it looks like that has happened.

The world financial situation is not truly tranquil, though it appears that way to many. The USA will likely do something to try to reduce some of the issues associated with Puerto Rico as it may face unrest there otherwise.

Of course, unlike Greece, because of its position as the economic heavyweight of the world, the USA can borrow more and/or take other steps related to Puerto Rico if it wishes. Like the situation with the Europeans and Greece, the USA can pretend that Puerto Rico will pay back its debts and perhaps it may be involved in some type of restructuring.

But what about the USA itself?

Regular readers of this page realize that the USA is the most indebted nation of all time and that the time will come when foreign creditors will realize that the USA will NOT be able to properly pay back its debts.

Here is something I wrote about that in the book Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term:

One of the first acts of the Barack Obama Presidency was to change an executive order to support increased abortion funding. Shortly after taking office, he signed into to a law a bill that significantly increased the debt of the U.S.A. He has also indicated that he would pursue policies that would increase that debt during at least his first, as well as possibly second, term. And although he ultimately claims this will change, he has asserted correctly that the U.S. debt level is “unsustainable” (Runningen R, Nichols H. Obama Says U.S. Long-Term Debt Load ‘Unsustainable’. Bloomberg.com May 14, 2009).

However, he and others may not realize how strongly the Bible warns about what will happen to a huge debtor in the end time.

Notice what the Hebrew seer Habakkuk wrote over 2,600 years ago:

³ For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry… ⁵ Indeed, because he transgresses by wine, He is a proud man…⁶“Will not all these take up a proverb against him, And a taunting riddle against him, and say,

‘Woe to him who increases
What is not his—how long?

And to him who loads himself with many pledges’?

⁷Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. ⁸ Because you have plundered many nations, All the remnant of the people shall plunder you…” (Habakkuk 2:3,6–8).

Hence, Barack Obama seems to currently be fulfilling the part of that prophecy in verse 6 of increasing pledges/debt. And he will do more to fulfill it. This Habakkuk prophecy, if it is applicable to the U.S.A, also suggests that American dollars will ultimately be of no value to creditors around then (or to probably anyone else).

Interestingly, one foreign creditor, China, has raised concerns about the U.S. debt that are so serious, that its potential dumping of that debt has been called China’s “nuclear option” (Gertz B, China Debt Threat. Washington Times, March 2, 2011) against the U.S.A.—an option that involves no military intervention, but that could greatly harm the U.S.A.

The Bible clearly warns against cheapening the money supply and encourages having it hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Barack Obama’s policies, following certain other administrations, have ignored these warnings.

Furthermore, the time will come when the U.S.A. government will no longer be able to borrow at low interest rates and/or it will create more money electronically and/or via the printing press to try to continue. Massive inflation is coming. Make no mistake about it, the U.S.A. dollar will ultimately crash and be worthless. That “pride” of American power will be broken (cf. Leviticus 26:19). (Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term, pp. 14-15)

The Bible warns against the type of moral decline that is occurring in the U.S.A.:

12 Therefore thus says the Holy One of Israel: “Because you despise this word, And trust in oppression and perversity, And rely on them, 13 Therefore this iniquity shall be to you Like a breach ready to fall, A bulge in a high wall, Whose breaking comes suddenly, in an instant. (Isaiah 30:12-13)

But how can this happen to the USA? It will likely happen with a combination of events. Notice the following:

5 “Moreover the multitude of your foes Shall be like fine dust, And the multitude of the terrible ones Like chaff that passes away; Yes, it shall be in an instant, suddenly. 6 You will be punished by the Lord of hosts With thunder and earthquake and great noise, With storm and tempest And the flame of devouring fire. (Isaiah 29:5-6)

The debt situation of the USA is putting it at risk of being unable to recover should it be hit by weather problems, terrorist acts, war, riots, solar flares, severe earthquakes, civil unrest, devastation of their genetically-modified food supplies, food shortages, and/or various pestilences–an intensity of “sorrows” such as Jesus discussed in Matthew 24:4-8 leading up to the time of the Great Tribulation. Disasters, especially if there is an ElectroMagnetic Pulse (emp) attack or a severe solar flare storm, could be part of a so-called “perfect storm” of events that could set the USA for destruction. (Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term, pp. 69-70)

The time will come when the USA will have no one who will lend to it or restructure its debts.

Perhaps I should add that there is an independence movement in Puerto Rico and the time may well come when it will ally with the rest of Latin America and Europe and not the USA.

Some items of possibly related interest may include:

Mexico, Central America, South America, Brazil, and the Caribbean in Prophecy [Español: México, América central, Suramérica, Brasil y el Caribe en la profecía] [Português: México, América Central, Ámérica do Sul, e Brasil na profecia] What will happen to those of Latin America? Will they have prosperity? Will they cooperate with Europe? Will they suffer in the future? What role might the various Caribbean nations/territories play?
Is the USA now an Evil Empire? Dr. Thiel gives many reasons to consider. A related video is also available: Is the USA an Evil Empire?
Hillary Clinton, Prophecy, and the Destruction of the United States This is a 188 page book for people truly interested in prophecies related to Hillary Clinton and the United States, including learning about many that have already been fulfilled and those that will be fulfilled in the future. It also discusses Republicans. The physical book can be purchased at Amazon from the following link: Hillary Clinton, Prophecy, and the Destruction of the United States: Is Hillary Clinton Fulfilling Biblical, Islamic Catholic, Hopi, and other America-Related Prophecies? $11.99.
Hillary Clinton, Prophecy, and the Destruction of the United States-Amazon Kindle edition. This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Hillary Clinton, Prophecy, and the Destruction of the United States-Amazon Kindle edition.
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?