Posted on 11/10/2021 6:57:45 AM PST by C210N
China Evergrande Group today again defaulted on interest payments to international investors.
DMSA, the German Market Screening Agency, itself is invested in these bonds and has not received any interest payments until today’s end of the grace period. Now DMSA is preparing bankruptcy proceedings against Evergrande and calls on all bond investors to join it.
(Excerpt) Read more at disclose.tv ...
Pei-Ping.
Any non-Chinese financial institution lending money to ANY Chinese interest is STUPID at best.
Maybe that is why the price of gold is up a tiny bit today.
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Maybe, just maybe this fiasco will be a sign for smart money to leave China. But probably not, the smart money types have not figured out that they are financing our takeover by the Chinese.
The Chinese are killing us with our own germ warfare, will use our own military technology against us and all financed by Wall Street.
Man you cannot fix stupid!
> Any non-Chinese financial institution lending money to ANY Chinese interest is STUPID at best. <
Out of curiously I looked it up. At least some of Evergrande‘s bonds had a coupon yield of 9.5%. That’s a pretty fat yield, and I’ll bet it seduced many investors.
Those folks evidently forgot this investing rule-of-thumb: The greater the reward, the greater the risk.
A word on the legal situation in China. It is not allowed, in writing, actually, that a foreign entity can prevail in Chinese court against a Chinese entity. Also, in a Chinese against Chinese suit the one that’s connected to the CCP wins...usually. But I read an article an the reason Xi is taking down so many Chinese businesses is they are connected, usually by family, to the previous Chinese leadership. (The actual one, not the former party head who was a puppet.)
The purpose was to take the money behind Evergrand off the party maneuvering table before the next party conference. As a matter of interest, Xi has put Pakistani people in charge of parts of the People’s army to prevent the opposition from “corrupting?” the army leadership during the upcoming conference. There was, apparently, an attempt on Xi’s life and it led to the same kind of purge Hitter pulled off after Valkyrie failed. In the last week there have been 10 massive explosions inside China, all hushed up. (Reported by the Indian news service “Gravitas.”)
With any luck, China will implode without launching any external conflict. There still may be an exchange of nuclear weapons but they’d be limited to Chinese vs Chinese targets. Imagine the American civil war, but with nukes.
That shallow piece gave no hint as to where the bankruptcy would be filed. If Evergrande has even the slightest connection to the US - look for it to be filed here under Chapter 15.
About 11 months ago, it was briefly (maybe for a day) about $3.99 per share, then six weeks later, it hit a value of ZERO. Presently, it’s drifting around 28 to 30 cents. At some point, some idiots actually put it on the Global 500.
Somewhere around 2016, you could have jumped on the wagon for about a year, and tripled your money in nine months. I think in some ways, it was designed to represent a true business...but structured to fail. Those idiot retirement funds that got into this...screwed their folks over big time.
That is an interesting look on this. I tend to agree that Xi’s situation is more tenuous than the west likes to think.
Astounding.
It is possible that Evergrande has several hundred completely empty buildings, or buildings that look complete on the outside but are empty shells on the inside.
Uh-oh.
They don't call them junk bonds for nothing. They have a place in the mix, but know the risk and eggs and baskets and all that.
Boy howdy
Maybe we can send them our homeless.
Recall when all so-called financial experts were calling China the place to invest?
Update...
https://www.express.co.uk/finance/city/1520106/global-financial-crash-evergrande-bond-payments
Of possible interest. Have never heard of WION in India, but showed up on YT first time. Well-spoken, attractive news person. Not airhead irritant.
Gravitas: Why is China not talking about the mysterious blasts?
https://www.youtube.com/watch?v=-WDqx7znva4
7 minutes, 40 seconds.
WION
3.88M subscribers
“At least 10 mysterious, high-intensity blasts have struck China in 7 days. Several people have died, many were injured. China is trying to cover up; nothing is being said on whether these blasts were accidents or coordinated attacks. Palki Sharma brings you the details.”
#China #Blasts #Gravitas
About Channel:
WION -The World is One News, examines global issues with in-depth analysis. We provide much more than the news of the day. Our aim to empower people to explore their world. With our Global headquarters in New Delhi, we bring you news on the hour, by the hour. We deliver information that is not biased. We are journalists who are neutral to the core and non-partisan when it comes to the politics of the world. People are tired of biased reportage and we stand for a globalised united world. So for us the World is truly One.
Please keep discussions on this channel clean and respectful and refrain from using racist or sexist slurs as well as personal insults.”
That was a well constructed post. I’m impressed!
I don’t know if Gravitas is connected with the Indian government or, it’s like news agencies when news agencies tried to inform the public on important subjects, but also put a pro-American spin on them because they saw themselves as American first and news agencies second. Or, perhaps guys like Edward R. Murrow simply were patriots and wanted everyone they spoke with to see the world through their patriotic lens. Regardless of bias, I think Gravitas tries to present the news but it definitely has a heavy dose of curry on it.
If you call them up and watch the segments one after the other you’ll see what I mean. This isn’t to say that they don’t present the news well and they do carry important stories that aren’t available anywhere else. But the anti-China sentiment fairly well drips off the presentation. While I consider myself anti-China I think the news agency’s spin that China is on their last legs is probably wrong, or at least highly optimistic. But they do round out any subject as part of the well informed person’s search for what is truth...or, at least what is real. (Truth being a bit too philosophical where real can actually kill you.)
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