Detroit Being Subjected to the “Argentina Treatment”

Detroit Being Subjected to the “Argentina Treatment”

July 2, 2014 • 8:17PM

Vulture funds that are kissing cousins of the ones demanding blood from the nation of Argentina, as part of the British Empire’s bail-in policy, continue to make an example out of the city of Detroit. This time its with one of the most basic human needs: water.

The United Nations is now getting involved in an escalating crisis where the Detroit Water and Sewer Department (DWSD) has begun to send shut-off notices to customers with overdue balances of more than $150, which, the department says, is nearly half of the 324,000 water and sewage accounts it services.

In a statement issued June 25th, the UN states, clearly:

“Disconnections due to to non-payment are only permissible if it can be shown that the resident is able to pay but is not paying. In other words, when there is genuine inability to pay, human rights simply forbids disconnections.”

The UN, now intervening into the situation directly, will approach the Obama administration next for confidential discussions on the matter before issuing a public report to the U.N. Human Rights Council.

The DWSD is one of the only remaining revenue-generating operations that Detroit has left. Detroit’s Emergency Manager Kevin Orr, who was appointed to preside over the liquidation of Detroit, proposed that the DWSD be privatized in March, meaning that the current strategy of cutting off what investors may view as bad debts, or people who cannot guarantee an income stream for the company, has nothing to do with settling basic accounts for the DWSD, but everything to do, instead, with seizing the remaining resources of states and municipalities and turning them into an income stream for vulture funds.

LaRouche Democrat Bill Roberts, running in Michigan’s 11th congressional district, says the attack by vulture funds on Argentina and the bankruptcy of Detroit are one and the same issue.

“We are at a point in the Detroit bankruptcy process where only a few creditors are holding out on approving the current restructuring plan. Among the holdouts to the bankruptcy plan is Syncora Guarantee Inc., a bond insurance company based in Bermuda, an off-shore colony of the British Crown. Syncora claims it will lose hundreds of millions of dollars under the current Plan of Adjustment as the insurer of UBS’s and Bank of America’s swaps contracts with the city. They insist there are more city assets that can be liquidated. They are demanding their pound of flesh and they are doing everything possible to disrupt the current terms of the restructuring plan. They have even demanded documents on the personal financial details of Detroit’s retired workers and have attempted to block Detroit from receiving a loan used to reinvest in city services.

“The City of Detroit’s lawyers have appropriately used the language of warfare to describe Syncora’s approach, accusing them of taking a ‘scorched earth litigation strategy’ and a ‘carpet bombing approach,'” Roberts stated.

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