đź‘€Evergrande on Brink of Formal Defaultđź‘€
(media.greatawakening.win)
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This is a monthly bond payment to foreign investors. While 148M is nothing to sneeze at, 148M x 12 payments a year x 7 or so years left on the bonds is astronomical.
Last month they sold off all their non business-critical assets (like two corporate jets) to satisfy their debt.
And this doesn't include what they owe to Chinese bond holders or loans to Chinese banks. This is the contagion- these bonds are held by western investment firms and used as the underpinnings for pensions, ETFs and funds in retirement accounts, and collateral used to borrow against from western banks.
This is why I bought puts against Goldman Sachs, Blackrock, and Vanguard. The GS put expired too early and I lost, but I still have a couple more weeks on Blackrock and over a month on Vanguard. Blackrock and Vanguard together are the canaries in the coal mine.
They have a 3 billion payment due in 4 months and they can't even pay 1% of that
Or in this case, loans against shoddy built real estate, often unsafe for occupation.
They're fucked.
Maybe this is where they stop suppressing gold and reprice physical high enough to cover themselves. Anyone else ready for the price of physical metal to springboard?
I'm getting ready for gold to destroy the FED.
Evergrande is basically a large ponzi scheme where they kept taking out loans to keep themselves afloat, this was due to the kickbacks given to the person offering the loans so you get a billion loan and give back 100million to the guy who gave you the loan. Also the group behind Evergrande is an enemy of Xi Jinping so he stopped them from being able to keep the ponzi going and is instead letting them all go bankrupt, its also the reason china is preventing people using crypto so they cannot take their wealth outside the country.
Magnitudes of the lack of liquid cash.
Adding fuel to the GME rocket.
🦍🚀
Look out Taiwan!
CCP gotta distract.
Multiple Chinese investment firms have been defaulting around Evergrande. The Chinese government has been paying Evergrande's domestic interest payments, but not foreign. Xi then told the Evergrande CEO to start paying with his personal wealth. Little doubt that will happen since these bonds go on for years, so they've reached the end of the road. It won't be just Evergrande collapsing, it will be that entire fake construction industry that cabal firms have invested so heavily in.
And they'll claim it's paid at the last minute with absolutely zero evidence.
EVERGRANDE
Just went bust. NCSWIC
Evergreen
Ever Given
Evergrande
A lot of "evers" lately.