In recent days, we have obtained credible information pointing to a high-level employee within the U.S. Farm Credit Administration who has, over a period of at least the past five years, engaged in acts of sabotage against the farmer borrowers who have loans within the national Farm Credit System."
(twitter.com)
💰 CREDIT COLLAPSE 💸
I have no familiarity with farm credit - does the farmer that borrows from them put up collateral? Are the loans made for purchasing equipment, land, operating expenses? The tweet mentioned acts of sabotage but did not specify what that entailed - are they sabotaging would be borrowers loan application so they can't get approved or what? Excuse me for my ignorance - farm credit is not anything I've ever dealt with.
It's like a loan on the land. Around here they do an inspection beforehand. If they find something like an underground gas tank then they insist on testing for leaks. I had a friend end up owing 250k in cleanup fees because they asked for a loan. The government is dangerous especially when they can claim they are helping someone or the environment.