by Simon Black, Sovereign Man:
Earlier this week I sent one of my team members to a banking conference here in Puerto Rico hosted by the Federal Reserve.
It might strike you as strange that the Fed would be holding an event in Puerto Rico, but it’s not that unusual.
Puerto Rico is a US territory and hence part of the US banking system. So just like the rest of the United States, banks in Puerto Rico (including my own) fall under the umbrella of the Federal Reserve.