The Exploitation of Puerto Rico by the United States

Puerto Rico has a long history of exploitation in Puerto Rico. Puerto Rico was first colonized by Spain until the war in Spain and the United States that led to American colonization in 1898. Spain has agreed to acknowledge the autonomy of the island with Puerto Rico, but the invasion of the United States terminated the plan to allow such reproduction (Figueroa, November 19, 1998). Since Puerto Rico has huge investment, commercial possibilities, and geopolitical strategies, the United States decided to participate in this colonial expansion.

Puerto Rico has been the territory of the United States since 1898 (read: colony), in 1917 the Puerto Rican acquire American citizenship through the Congressional Act. However, the Puerto Ricans who live in Puerto Rico do not enjoy the full benefit of becoming a US citizen. For example, Puerto Rico's funds declined by 38% despite paying the same level health insurance tax as the other 50 states. People living in Puerto Rico can not vote for the President of the United States (but they can vote for the president's primary) and they are not voting in Congress.

Puerto Rico is an unincorporated area of ​​the Caribbean USA. The island is also known as the Commonwealth of Puerto Rico, the capital is in San Juan. Puerto Rico citizens are official citizens of the United States, but Puerto Rico is territory rather than country. In other words, Puerto Rican citizens can not vote for the U.S. federal election and will not participate in Congress. According to historians and archeologists, former inhabitants of Puerto Rico are known as orthoiroid people engaged in fishing and hunting. It is thought that these Ortoiroid people arrived on the island before 250 BC. In the 11th century, Taino culture was the main culture of the island. People who practice this culture mean "the country of the king of the nobility" named "Boriken". Christopher Columbus arrived at the coast in November 1493. Puerto Rico became a Spanish colony in 1520

Puerto Rico became part of the United States after the Spanish - American War of 1898, and introduced the status of the Commonwealth in 1952. Therefore, residents of Puerto Rico are American citizens. Puerto Rico does not have a central bank, it determines interest rates on receivables as a member bank loan, and regulates financial and credit policies, it is the Federal Reserve Bank of the United States. Bank deposits in Puerto Rico are guaranteed by the Federal Deposit Insurance Corporation up to $ 100,000. Banks are underwritten by the Federal Deposit Insurance Corporation (FDIC). They are subject to all federal regulations applicable to the United States Bank. The Federal Government supervises the bank through the Treasury Secretary (Comisionado de Instituciones Financieras). Bank of Puerto Rico is part of the US banking system and there are some differences in tax law.