Real Talk on Puerto Rico Debts, Donald Trump, Ray Dalio and ICOs

Oct 4 2017 | 2:37pm ET

“We will have to wipe that out.”
That’s President Donald Trump on Puerto Rico’s financial situation. 
Oh… that’s all we have to do?  
Just make $73 billion go away overnight?
Trump is basically taking debt forgiveness to a whole new level, and it’s clear that he doesn’t have any understanding of who actually holds this debt on their balance sheet. 
"I don't know if it's Goldman Sachs, but whoever it is, you can wave goodbye to that," Trump said yesterday. "The debt was massive on the island."
Trump isn’t the only person who is uncertain about who is holding the debt.
“What’s incredible about this is these people were actually hiding. In the case of this person, he’s in Boston which has a large Puerto Rican community..."
The Intercept is spiking the football over its story on a hedge fund manager who owns debt of Puerto Rico. 
Apparently, it’s the bondholders fault for wanting their money back… 
It’s never the fault of the mismanaged government that ran up a $73 billion bill.  
“I think the greatest issue of our time is the disparity of wealth and the problems that exist for the lower 40% of the population.”
“It’s not healthy for the ecosystem, and it’s pretty abusive.” 
Kyle Samani of Multicoin Capital isn’t happy.
The fund manager is upset that certain companies are allowed to buy in to ICOs based on their reputation.
“They are getting a discount because they are a big name, and they think it’s going to draw the retail investor. It’s the greater fools’ theory –- I’ll buy it if there’s someone who’s more of a fool than me.”
This is how “initial everything” works from IPOs on down. The process is rigged.
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