https://www.brighteon.com/ce7f2764-67df-4c6a-8667-4c86251afd0c
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Greg Hunter was very gracious to feature the 11/10/21 article I wrote and posted to the EA blog (Evergrande ‘Officially’ Bankrupt), citing its importance in his ‘Weekly Wrap-Up’ today. Greg Hunter is known for his telling the truth and is from what I understand, bigger than CNN. Greg’s report can be seen here.
———-
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
I found a press release from an organization I had never heard of previously, DMSA during the latter part of October as I was doing a daily search for news on Evergrande. This is how I found out about Dr. Marco Metzler.
Notwithstanding the six articles that have I have previously written the issue on the Encouraging Angels blog about the dangers and bankruptcy of China Evergrande, Dr. Metzler has been the only financial person with the actual gravitas and moral fortitude to tell the truth about Evergrande while the worldwide financial press spent its time and newspaper (and blog) ink on the disinformation that the company had made interest payments when they had not. Today, he and DMSA declare that Evergrande is ‘officially’ bankrupt and here he shares the consequences of that news.
Dr. Metzler, can you give us the elevator rendition of your resume/CV so people have an idea of your background?
Sure! I am an investment banker and rating analyst with more than 25 years of work experience in the global insurance as well as the rating industry. As former CFO of Prisma Life Insurance AG in Liechtenstein, I managed around €1.2 billion in client assets.
After completing my PhD in Business Administration, I started my career in London as an analyst in several investment banks such as Deutsche Bank and UBS, before joining Fitch as Director of Ratings for international insurance groups and the German market. Here I was responsible for ensuring that Fitch's ratings, market research, expert commentary and analyst expertise were a valuable resource for global investors and insurance brokers. Furthermore, I have been awarded a significant reputation in the industry by predicting the default of German life insurance companies such as the Mannheimer LV in 2003. (https://www.manager-magazin.de/finanzen/artikel/a-254591.html)
Currently, I am self-employed with Dr. Metzler Rating Consulting (http://www.metzler-consulting.ch/) in Switzerland and hold advisory board positions in several companies (DMSA Deutsche Markt Screening Agentur and DFSI Ratings as well as DFSI Institut GmbH) and I am engaged as Managing Director of My Added Value GmbH in the InsurLab Germany Hub to launch a company that will allow insurers to offer banking services with a new technology.
Can you tell us about what you do in your practice and include the nature of your work with DMSA please.
DMSA Deutsche Markt Screening Agentur GmbH, is an independent data service that collects and evaluates market-relevant information on companies, products and services. DMSA sees itself as an advocate for consumers, private customers and intelligent investors. The customers are the focus of DMSA's work. For them, important and decision-relevant information is bundled and presented as market screenings. The aim is to create more transparency for consumers when selecting products, investments and services. I am a member of the advisory board of DMSA and advise the management on topics to chose for analysis and coverage.
The specter of the heavily indebted Chinese Real Estate developer Evergrande has been part of the financial landscape for some time. Can you tell us why it appeared on your radar screen and why it caused you enough concern at this point to where in October 2021 you and DMSA issued worldwide press releases to share your perspective?
Recently, I started to write a new report on Evergrande because I felt obligated to tell all people the truth and the full impact of an Evergrande default.
This was the kick-off of the DMSA Report: "The Great Reset - Evergrande and the Final Meltdown of the Global Financial System”, where your readers might know me from.
I have written six articles on Evergrande and raised concern that as soon as they missed the first interest payment that the company may bankrupt and with the miss of the second payment a week later wrote ‘Turn Out The Lights, The Party’s Over’-that institutional investors and public needed to rightly asses the potential risk that an Evergrande insolvency would pose not to just China, but externally-in my writings-to Americans-but really to people around the world. In macro economic terms, what is the risk that Evergrande poses to the rest of the world?
An Evergrande bankruptcy will significantly slow down Chinese economic growth. The economic problems in the China will then become much more apparent. Areas affected include (but not necessarily limited to : energy and raw material shortages, plant and port closures, and the overindebtedness of the state, companies, and private individuals. The debt ratio is already 230 percent of the country's annual economic output. This could have devastating consequences for the global economy. Supply chains could be put under even greater strain than they already are today - if they don't break completely. This, in turn, would then inevitably lead to galloping inflation in the USA and Europe.
The recent FED Stability Report just confirmed my concerns:
“Especially in the real estate sector, as exemplified by the recent concerns around China Evergrande Group. Stresses could, in turn, propagate to the Chinese financial system through spillovers to financial firms, a sudden correction of real estate prices, or a reduction in investor risk appetite. Given the size of China’s economy and financial system as well as its extensive trade linkages with the rest of the world, financial stresses in China could strain global financial markets through a deterioration of risk sentiment, pose risks to global economic growth, and affect the United States.” (FED Stability Report November 2021, page 66)
A bankruptcy of Evergrande has the potential to lead to extreme distortions of the global financial system - with bankruptcies of players that are still considered rock solid today. Triggered by a Chinese financial virus called Evergrande, the world may face a "Great Reset" - the final meltdown of the current global financial system.
In breaking news this morning Wednesday, November 10, 2021, DMSA has issued a press release stating that Evergrande is ‘officially’ bankrupt…what is meant by that statement, what actions come next? Why should people care about the Evergrande bankruptcy whether they live in Germany or the US?
In total, Evergrande would have had to pay $148.13 million in interest on three bonds no later than today. "But so far we have not received any interest on our bonds.. With banks in Hong Kong closing today, it's certain that these bonds have defaulted.
Particularly problematic for Evergrande: all 23 outstanding bonds have a cross-default clause. This means that if a single one of these bonds defaults, all 23 outstanding bonds automatically have 'default' status". However, this does not automatically result in a bankruptcy for Evergrande Group. To determine bankruptcy, a insolvency petition must be filed with the court. This can be done either by the company itself or by one or more of the company's creditors. DMSA is now preparing bankruptcy proceedings against Evergrande. We are already holding talks with other investors in this regard. We would be pleased if other investors were to join our action group.
A bankruptcy of Evergrande will put significant strain on the Chinese financial system. Given the size of the Chinese economy, and the extensive trade linkages with the rest of the world, this could weigh on global financial markets by worsening risk sentiment, pose risks to global economic growth and affect people in the United States or Germany. One can think of it like a domino and the first stone has fallen with this. Recent examples would be international companies such as Softbank and Element, which just today referred to a multiple billion-dollar losses.
Moreover, the economic problems in China will then become much more apparent. Keywords: Inflation, energy and raw material shortages, factory and port closures, and the over-indebtedness of the state, companies and individuals. The debt ratio is already 230% of the country's annual economic output. This could have devastating consequences for the global economy and bring about a meltdown of the financial system.
One of the things I have brought out in my writing (Whistling Past The Graveyard) is that from a leaked 2018 letter that Evergrande has liabilities that involve more than 128 banks and over 121 non-banking institutions. The true extent of the nature and the sheer gross quantity of worldwide exposure to the developer is veiled to an extent. Can you speak to the known and possibly estimated amount of derivatives exposure that the world may have to Evergrande through CDS’s (Credit Default Swaps) and the like as it relates to global markets?
While more than 90% of Evergrande's creditors are from China itself, there are also many international creditors from the US and Europe. International investors alone have put around $23.67 billion into 23 bonds and three large loans issued by the lurching property developer. Among the already known institutional investors are well-known addresses such as Fidelity, Blackrock, UBS, Ashmore Group, Prudential, HSBC, Pictet, Vontobel, BNP and Allianz. However, by far not all international investors are known so far, but only 148 investors (see list of investors: http://www.dmsa-agentur.de/download/20211024_DMSA_EVG_RR_en.pdf) with increased reporting obligations, such as fund companies, who have invested a total of 3.44 billion US dollars. There could still be some negative surprises here.
Evergrande still has about a $4 billion market capitalization and $90 billion in debt on its balance sheet, but $300 billion including unpaid bills. The CDS exposure is still unknown but will have a potentially huge impact in an Evergrande bankruptcy.
In one of our conversations you said “remember we all have a mission in life”…At Encouraging Angels we certainly believe that…Can you please elaborate on why that is so important and what your faith means to you?
I recently had an event in my life that enabled me to see things differently resulting a change of my life. I am very grateful for this happening to me. As I did in the past with the bankruptcy of Mannheimer Life insurance company I have a talent in analyzing facts and macroeconomic developments and to speak out things nobody wants to do. Focusing again on my talents from the past times I felt recently obligated to speak out in public about the implications of the Evergrande default. This will not be the end of my mission. As the markets will collapse soon people will need guidance in the difficult times ahead of us. In this situation I will have the task of being a lighthouse to give people a target for reaching a safe harbor in very rough waters. Some people will make it but many will not. After the storm we have to regenerate new economic system which is build on trust an honor and in balance with the nature and God.
Dr. Metzler, thank you so much for sharing your time, talent and your unique perspective with us today. Is there anything you would like to share in closing?
As I was obliged to go public on my mission we now need more good souls to stand up and start acting as a lighthouse to save the people who are deserving it. We need also to team up bringing the truth to the public as we see the old economic system falling. There will be a great opportunity after the "Great Reset" to rebuild a better world. This should be everybody`s mission now.
———-
If you appreciate this article perhaps you might consider a gift to Encouraging Angels for the intelligence we provided today.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.naturalnews.com/2021-11-08-richard-rowe-dies-covid-vaccines-antivaxxers-die.html#
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
Two weeks ago, the financial press reported that at the 11th hour, Evergrande, the second largest Chinese Real Estate Developer, made its past due interest payment one day before the ratings agencies would have declared the Company bankrupt for being in arrears for 30 days to bondholders.
Then, a week later, Evergrande pulled a rabbit out of their hat for an encore with the ‘journalists’ who cover the business of money proclaiming that Evergrande paid the second past due interest payment just before they would be baptized as bankrupt.
Last week I wrote ‘Dr. Marco Metzler: Evergrande Missed Second Past Due Interest Payment In A Week-Is Bankrupt-Could Drag Down Real Estate Sector/HSBC & World Financial System’ detailing the work of Dr. Metzler who says that the company did not respond to his firm’s request for positive confirmation of the payment(s). With the supposed and reported making of these payments-promulgated by the media, the beleaguered company should have their investor relations department broadcasting this to the entire world, who by the way, is watching. But they don’t. Dr. Metzler got -no- confirmation from Evergrande regarding the proof of their payment. Not from them, not from any rating agency. According to Dr. Metzler in a press release referenced in my article…’the bankruptcy has apparently already technically occurred’.
On September 21, 2021, before the company was past due on its interest payments, ‘China ‘Evergrande Inches Close To Default Deadline, Investors Wait’ appeared at nasdaq.com.
As we now know, that claim was a fallacy as Evergrande missed that payment. In reading the article, the contributors at nasdaq clearly described the bond issues: …’A major test for Evergrande comes this week, with the firm due to pay $83.5 million in interest relating to its March 2022 bond VG158043114= on Thursday. It has another $47.5 million payment due on Sept. 29 for March 2024 notes VG158786753=.’…
This details enough information about the bonds so there can be no mistaking exactly which securities are in question. As is further detailed on the nasdaq article…’Citigroup Inc C.N subsidiaries serve as trustee and payment agent for a China Evergrande bond VG158043114= that matures in March 2022 and has $83.5 million in interest coming due on Thursday..’…
So we know that Citibank is the paying agent for at least one of the Evergrande bonds.
At one time bonds were a real part of my life. After coming out of school in the early eighties, it was a bit tough to find a decent job as Pittsburgh PA. was really in a depression with tens of thousands leaving the ‘City Of Champions’ to find gainful employment, mainly because of the steel mills closing. I was fortunate to find a modest, but stable job at the Pittsburgh branch of the Federal Reserve Bank in the Check department. Not too long afterward I moved to the ‘non-cash’ department. ‘Non-cash basically means bonds. I started out processing coupons that were being redeemed from bearer municipal bonds. Later, I worked the non-cash desk being responsible for taking in and processing the actual bonds. I am relating this story because most people in the brokerage business have never actually read a physical bond that they could hold in their hands. But I did. I made a point of reading through the covenants on the bonds and could actually see that the ‘paying agent’ was part of the covenant of the bond.
Of course today, what do investors get when they buy a bond? They only get a digital notification of the title of the bond, the interest rate and when it is due. There is actually a lot more to the ‘promises’ in a bond covenant but does anyone honor those anymore? Less and less do we see the honoring of covenants whether it is between God and man or between corporations and bondholders.
So this is why I am aware of things like the paying agent for a bond. I thank the folks at nasdaq for providing us which some of the information necessary to identify the bond issue and especially for identifying the paying agent, who in this case is Citibank.
So, just as Dr. Metzler tried to get information from Evergrande and the rating agencies about the authenticity of the alleged interest payments, so too, I tried to obtain the veracity of the media claims of remittance of interest and principle when due to bondholders which should be available from the paying agent.
So very early on the 3rd of November 2021 I sent an email to Ms. Danielle Romero-Apsilos, a spokesperson of some tenure at Citi. Later on in the day, I sent an email inquiry to Citi Fixed Income Investor Relations. Somewhat later, I placed a phone call to Citi Fixed Income Investor Relations as well. I received no correspondence in return from any of my attempts to obtain information that one should be able to readily retrieve from a bond paying agent.
So, I failed, but I succeeded. I failed in getting any confirmation from the paying agent about any authenticity as to the media’s claims. I succeeded in further confirming the work of Dr. Metzler who also shared that he could not come by any information to verify that the interest payments had been made from what should be a reputable resource, mainly the company Evergrande itself.
If I am contacted by Citi I will post that I was contacted and the resulting info, if any, at the EA blog.
The financial media has acted with subterfuge and the actual responsible parties who should be able to unequivocally provide the truth in this matter (the company and the paying agent) are silent in the face of public questions.
I would like to share that shortly after I placed the phone call to Citi Fixed Income Investor Relations that a roaring helicopter flew directly over my little house located half way to the middle of nowhere at approximately 75 feet AGL (Above Ground Level). I’m sure that this was just a coincidence (now turn off sarcasm). I also had this happen this year after I wrote ‘Dr. David Martin, CEO M•CAM Illuminates What Big Pharma Knew, When They Knew It and the case for RICO’. It was the same deal; helicopter in the middle of the afternoon, while I was outside flying approximately 75 feet AGL over the house.
If the company won’t tell Dr. Metzler the answers to his questions-If the paying agent won’t respond to inquiry-Should all investors not be utterly concerned about their investments (this is not financial advice-consult your financial advisor)? If the corporate financial media is unwilling to question the conventional narrative-should you trust them? If you cannot trust the financial media-how will you make decisions when it comes to investing and protecting what you have worked so hard to accumulate?
JUST HOW BAD IS THE EVERGRANDE SITUATION? Why aren’t the large financial media companies and journalists doing what Dr. Metzler and I are doing by simply asking pointed questions to the appropriately responsible parties? Evergrande is bankrupt according to Dr. Metzler. What’s the worst that could happen to you in an Evergrande collapse? Dr. Metzler has shared how a global contagion my happen if Evergrande goes down.
How are you set for food, water (it’s obtainment and purification), shelter, energy, protection and if you have financial assets, the consideration of physical (not paper like SLV) precious metals? Have you even considered any of these in order for you to make it through a potentially very bad scenario?
Have you considered that all of the money and assets in the world will not save you from hell if you don’t have a saving knowledge of God through His Son, Jesus Christ? Consider making the first things first.
Have you not heard the parable of the rich fool?
The Parable of the Rich Fool
13 Someone in the crowd said to him, “Teacher, tell my brother to divide the inheritance with me.”
14 Jesus replied, “Man, who appointed me a judge or an arbiter between you?” 15 Then he said to them, “Watch out! Be on your guard against all kinds of greed; life does not consist in an abundance of possessions.”
16 And he told them this parable: “The ground of a certain rich man yielded an abundant harvest. 17 He thought to himself, ‘What shall I do? I have no place to store my crops.’
18 “Then he said, ‘This is what I’ll do. I will tear down my barns and build bigger ones, and there I will store my surplus grain. 19 And I’ll say to myself, “You have plenty of grain laid up for many years. Take life easy; eat, drink and be merry.”’
20 “But God said to him, ‘You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?’
21 “This is how it will be with whoever stores up things for themselves but is not rich toward God.” (Luke 12:13-21 NIV)
Will an abundance of assets save you in the end? We live in a world where the virus and the experimental vaccines kill. If, as Jesus says, your life were to be demanded from you, what does it matter the treasures you have laid up on earth? At that point, all that matters is the treasures you have laid up in Heaven. Do you know God? Do you know Jesus? He is the Word Of God; read His Word. His Word is the real treasure.
We need to be good stewards of what our Creator has given us. Ask the right questions of Evergrande. Ask the right questions of CitiBank. Be brave and ask your questions of Jesus. He is big enough to handle your inquiry and He has an answer for you.
If you appreciate this article perhaps you might consider a gift to Encouraging Angels for the intelligence we provided today.
———-
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Note: ‘Missed Interest Payment Upped’ article was kept up on the EA blog but more succinctly rewritten as the ‘Dr Marco Metzler article’…sorry for any confusion. SS
Why is EA writing about the financial markets? Shouldn’t we just stick to disability, ministry, music and God?
I (Stan) am writing about the financial markets because of the affects it will have on all Americans, but primarily -disabled- Americans. Even if you are dirt poor (which a lot of disabled and their families are) you need to be aware of this information. The financial system -will- reset. It will not be to the favor of most Americans. It is easy to see that inflation is here and that we may very well be looking at hyperinflation where your money will be confiscated through seriously rising, even skyrocketing prices for goods and services.
These articles will emphasize that you should consider obtaining: food, water (and a way to purify), shelter, energy security and if you have the wherewithal-precious metals- to give you the resources you need to navigate a complete reset of the financial system (This is not financial advice-please consult your financial advisor).
If you fall in the ‘dirt poor’ category you can still probably put away a 25 pound bag of rice (approx. $12), a case of baked beans (at Aldi $6/12 cans), a lifestraw or Sawyer mini filter (approx $20 on Amazon/sporting goods store), arrange to stay with a country cousin when the cities become untenable, have a battery bank for your phone and a small solar panel to charge it when there is no electricity and look into a dog, a security camera and more when it comes to security. Get to know a local coin dealer (who may just become a replacement for a bank when the financial system becomes a problem -if you have silver or gold. For instance the old pre-1965 silver (minted 1964 and before-called ‘junk silver’) are good to have. A ‘junk silver’ dime will cost you right now approximately $2.00. When the dollar becomes worth less than it is right now that same dime may buy you groceries when the dollar in your pocket might not be worth the paper it’s printed on.
This is just the beginning of what I hope to share in the near future. I hope that the caregivers of the disabled are paying attention because if you think that it is tough to take care of the disabled now just wait for the financial reset to hit. The world will be different. Please plan accordingly.
There is a saying you hear that ‘God Helps Those Who Help Themselves’; That saying is found nowhere in the Bible. However, we do have the incredible examples in the Bible of people like Noah, Joseph and the boy with the fishes and the loaves who should be our examples of preparedness. Emulate them. Meditate on what they did and how they were obedient to God. Consider doing the same. Trust God through His son, Jesus Christ. Read your Bible. If you are new to the Bible, start with the gospel of John and move on to the stories mentioned above. God will be faithful to you if you trust Him with your whole heart. Get to know Him today.
———-
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
This past Tuesday I reported that Dr. Marco Metzler, former Fitch analyst and now of DMSA (Deutche Mrkt Screening Agentur GmbH) has announced that the past due interest payment on China Evergrande Group’s offshore international bonds that all of the western media reported as supposedly paid by Evergrande could not be confirmed. Today, he is stating that a second interest payment ($47.5 Million) allegedly made by Evergrande according to the western media last night has not been paid, once again contradicting mainstream media reports.
According the the GMBH News Release dated today (10/29/21)…’For the second time in a week, China Evergrande Group has apparently technically defaulted on interest payments to international investors.’… and in the opening paragraph goes on to say…’Should the Evergrande insolvency not only drag down China's real estate sector, but the entire economy of the country, we will see even bankruptcies of major international banks - such as HSBC, fears DMSA senior analyst Dr. Marco Metzler.’…
…’ But there has been no official confirmation of any payment of that interest by the close of business at Hong Kong banks’…continued Metzler. Besides Encouraging Angels, the only other known doubts that concur with Metzler appear in a recent report in the Financial Times Metzler says in the press release. In that document, Dr. Metzler goes on to state that no one replied to their inquiries as to an actual confirmation of the payments to creditors by Evergrande.
"Thus, the bankruptcy has apparently already technically occurred," analyzes Metzler.
Evergrande tried to raise capital through the sale of assets. The environment for asset sales is abysmal. The company tried to sell some of its assets to Hopson Development Holdings which fell through. According to reports, the deal would have been worth 20.04 billion Hong Kong dollars ($2.58 billion), according to filings.
This is, of course horrible news for a company who has over $300 billion of debt. How much good would $2.6 billion from the failed Hopson deal done for Evergrande anyway? $2.6 Billion is less than 1% of Evergrande’s indebtedness. A drop in the bucket. Evergrande is indeed, bankrupt no matter what the mainstream brokers of financial information ‘report’.
I have had friends basically say to me ‘If Evergrande defaults, so what? That doesn’t affect us’. In fact one friend sent me research from Janney dated 9/22/21 that stated: …’While the U.S. is not immune to disruptions in other parts of the world, we do not view the situation in China as a contagion risk that will derail the bull market.’…
What a difference 6 weeks can make. Dr. Metzler’s take on Evergrande is paradoxically opposed to the Janney position on the company as detailed in the press release from DMSA: …’Metzler considers it quite possible that Evergrande could drag China's entire real estate sector down with it. This could have serious implications for major international banks such as HSBC. According to their figures for the third quarter of 2021, Hong Kong's largest bank alone has extended loans totaling 19.6 billion U.S. dollars to Chinese real estate groups. Assuming a recovery rate of five percent in the event of an industry-wide wave of bankruptcies triggered by Evergrande, HSBC alone would have to write off around USD 18 billion.
If one also considers the limited possibilities of international banks to access assets in China (see above), there is much more at stake for HSBC: the default of the entire portfolio of Chinese corporate loans. And that, after all, is worth around $196 billion. "Such immense lending to Chinese companies, without a guaranteed possibility of accessing collateral in China itself in the event of bankruptcy, is irresponsible in my view," says financial expert Metzler. With a return of five percent, HSBC would have to write off around 186 billion dollars in this case. That would correspond to almost the entire equity capital of the bank. And would probably lead immediately to its bankruptcy. This would make HSBC a victim of the Chinese financial virus, which would then spread rapidly throughout the international financial markets. "The Great Reset - the final meltdown of the current global financial system - has long since ceased to be a purely intellectual thought experiment," concludes Dr. Metzler.
Since the rest of the financial media is not telling the truth about the interest paying ability of Evergrande, and actually reporting that the company has made payments when they have in fact not, I am inclined to buy the narrative of Dr. Metzler who has correctly analyzed the situation and told the truth.
"The Great Reset - the final meltdown of the current global financial system - has long since ceased to be a purely intellectual thought experiment," concludes Dr. Metzler. Indeed. ‘Concluding’ the financial system is just what Evergrande is apparently in the gestational stages of.
Why should this matter to you? The ability of the American people to discern the truth of this situation and to act upon it in time to protect themselves and survive the coming financial reset is paramount. Obtaining sufficient amounts of food, water (& a way to purify), shelter, energy, security and if you have the resources -physical- precious metals will be the stuff that matters on the other side of the reestablishment of a new financial system. This is not financial advice-consult your financial advisor.
The most important thing is a right relationship with God almighty through His Son, Jesus Christ because without Him you are lost now and forever. You get to know God through His Word. …’In the beginning was the Word, and the Word was with God, and the Word was God. He was with God in the beginning. Through him all things were made; without him nothing was made that has been made. (John 1:1-3 NIV) Get to know Him now before it’s too late.
If you appreciate this article perhaps you might consider a gift to Encouraging Angels for the intelligence we provided today.
——
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
Before we get to the -real news- let’s first examine today’s ‘stories’, shall we?
Evergrande has reportedly made good on another payment, averting default once again-CNN Business-By Laura He, CNN Business - updated 3:33AM Fri. October 29, 2021
Evergrande Pays Overdue Interest and Again Dodges Default-Eliza Ronalds-Hannon Thu, October 28, 2021, 8:00 PM (Bloomberg via Yahoo)
Evergrande averts default with interest payment – reports - Guardian Staff and Agencies-Fri 29 Oct 2021 00.11 EDT
Evergrande Averts Default Again But More Coupon Payment Deadlines Are On The Horizon-Forbes-Yue Wang, contributor Oct 29, 2021, 05:35am EDT
Evergrande Averts Default Again by Making Second Late Payment-Wall Street Journal-By Elaine Yu and Frances Yoon-Updated Oct. 29, 2021 5:14 am ET
Evergrande paid another bond interest just in time again, averting a default after Chinese authorities pile on pressure - Huileng Tan -Oct. 28, 2021, 10:39 PM
This past Tuesday I reported that Dr. Marco Metzler, former Fitch analyst and now of DMSA (Deutche Mrkt Screening Agentur GmbH) has announced that the past due interest payment on China Evergrande Group’s offshore international bonds that all of the western media reported as supposedly paid by Evergrande could not be confirmed. Today, he is saying that the interest payment ($47.5 Million) allegedly made by Evergrande according to the western media last night (see ‘stories’ listed above), has not been paid either.
According the the GMBH News Release dated today (10/29/21)…’For the second time in a week, China Evergrande Group has apparently technically defaulted on interest payments to international investors.’… and in the opening paragraph goes on to say…’Should the Evergrande insolvency not only drag down China's real estate sector, but the entire economy of the country, we will see even bankruptcies of major international banks - such as HSBC, fears DMSA senior analyst Dr. Marco Metzler.’…
…’ But there has been no official confirmation of any payment of that interest by the close of business at Hong Kong banks’…continued Metzler. Besides Encouraging Angels, the only other known doubts that concur with Metzler appear in a recent report in the Financial Times today. Dr. Metzler goes on to state that no one replied to their inquiries as to an actual confirmation of the payments to creditors by Evergrande.
"Thus, the bankruptcy has apparently already technically occurred," analyzes Metzler. What if Evergrande could sell assets to raise funds to avoid bankruptcy? The company’s ability to raise funds through asset sales has failed in this environment as a deal to sell some of its assets to Hopson Development Holdings fell through. According to reports, the deal would have been worth 20.04 billion Hong Kong dollars ($2.58 billion), according to filings.
This is, of course horrible news for a company who has over $300 billion of debt. How much good would $2.6 billion from the failed Hopson deal done for Evergrande anyway? $2.6 Billion is less than 1% of Evergrande’s indebtedness. A drop in the bucket. Evergrande is indeed, bankrupt no matter what the mainstream brokers of financial information (again, see stories listed above) try to sell you. Just as a casual observance, it is interesting to note that 5 of the 6 stories from the ‘western’ journalistic sources above have writers who have apparently Chinese names (and a sixth, The Guardian, doesn’t tell you -who- exactly is responsible for penning the story). I have no ax to grind with the Chinese people; but if I was writing a story about the placement of nukes in Poland and gave you 6 news sources and at least 5 of them were Polish -and- all on the same side of the argument that benefitted Poland wouldn’t you question the media’s sources all leaning one way?
I do have a problem with the communist party and any other totalitarians. Who is hurt by China Evergrande Group’s non-payment of interest when due and how are they going to pay their principle on its US$2.03 billion bond maturing in March 2022? How about Hong Kong being hurt and their banks who did not receive this most recent payment according to Metzler. How about The United States of America and its banks and corporations that are bondholders. Who said that they will recapture Taiwan? Who has said that they want to take over and invade America and -not- cohabitate with Americans when they (supposedly, but not on my watch) do (thank you Dave Hodges for all of your work on this subject)? It is, of course, the CCP.
The Communist Party in China has a seat at the table in every corporation in that country. Here is what The Guardian had to say about the process in 2019:
…’The relationship between the party and private sector companies is, up to a point, flexible – certainly more so than with state companies. The party doesn’t habitually micromanage their day-to-day operations. The firms are largely still in charge of their basic business decisions. But pressure from party committees to have a seat at the table when executives are making big calls on investment and the like means the “lines have been dangerously blurred”, in the words of one analyst. “Chinese domestic laws and administrative guidelines, as well as unspoken regulations and internal party committees, make it quite difficult to distinguish between what is private and what is state-owned.”
So who runs Evergrande? Is it an autonomous market driven entity or is the ‘party’ involved in how the company is run? Is it possible that ‘the party’ would pick a company or an industry to use to attack its enemy (like the US or Taiwan/Hong Kong-take away its resources)? Would it be beyond the consideration of possibility that the party has people in the financial media who provide cover for party operations? It simply could be that the party has all the power but has now fulfilled The Peter Principle and become utterly incompetent in the face of running things at this advanced stage of their evil development. Why does any of this matter?
Because whether it is Dr. Metzler (THE GREAT RESET-Evergrande and the Final Meltdown of the Global Financial System) or Klaus Schwab telling you, there is going to be a ‘Great Reset’. When it comes to the financial system there will be new countries/entities/corporations that will lead the pecking order. The United States can only hope to be one of the players at the top. It will no longer hold the sole position of the world’s only reserve currency.
Of course, the CCP is not the only body who is looking to dethrone the US and take reserve currency status from it. Globalists, of many countries, even from within the US seek to break America and turn it into a vassal state of the power elite and use the resources of America for their purposes. How could this breakdown come about?
From today’s press release from GmbH: …’Metzler considers it quite possible that Evergrande could drag China's entire real estate sector down with it. This could have serious implications for major international banks such as HSBC. According to their figures for the third quarter of 2021, Hong Kong's largest bank alone has extended loans totaling 19.6 billion U.S. dollars to Chinese real estate groups. Assuming a recovery rate of five percent in the event of an industry-wide wave of bankruptcies triggered by Evergrande, HSBC alone would have to write off around USD 18 billion.
If one also considers the limited possibilities of international banks to access assets in China (see above), there is much more at stake for HSBC: the default of the entire portfolio of Chinese corporate loans. And that, after all, is worth around $196 billion. "Such immense lending to Chinese companies, without a guaranteed possibility of accessing collateral in China itself in the event of bankruptcy, is irresponsible in my view," says financial expert Metzler. With a return of five percent, HSBC would have to write off around 186 billion dollars in this case. That would correspond to almost the entire equity capital of the bank. And would probably lead immediately to its bankruptcy. This would make HSBC a victim of the Chinese financial virus, which would then spread rapidly throughout the international financial markets. "The Great Reset - the final meltdown of the current global financial system - has long since ceased to be a purely intellectual thought experiment," concludes Dr. Metzler.
So we see the corporate media carrying the water and spinning yarns for those who benefit from what is perceived as reality to keep the myth going that Evergrande is solvent, or at least, not collapsed yet. If you click on the links to those articles at the beginning of this writing you will quickly see each writer defer to ‘sources’ or ‘according to the New York Times and Bloomberg. Each publication cited unnamed sources.’ or ‘according to people with knowledge of the situation, who asked not to be identified discussing private payments’. Why did none of the financial reporters contact a ratings agency (like Fitch, Standard and Poor’s or Moody’s) or the custodian bank for the bond issue? My guess is that this way they can still have plausible deniability about the certainty of the matter while still peddling the globalist narrative.
The corporate financial media is keeping you coddled and anesthetized as to what is actually going on. Why does all this matter to you? It matters because, silly, your money is IN this financial system. Because you, who are not paying attention and think that the Federal Reserve is doing good by printing all that money…because a friend shows you research from Janney (yes, this did just happen to me) that goes through why there is a problem with Evergrande, and says that it will not interrupt the bull market-stock brokers -always- have to be positive in order to be able to sell stocks… because you, who thinks that the stock market only goes up and it just can’t stay down if it does go down…because the truth is that this market is most likely heading for what Ludwig Von Mises referred to as the ‘crack up boom’ where ‘Borrowers cannot repay their obligations when payment is due, and neither can they afford paying higher borrowing costs. Investors start fleeing out of bonds, making interest rates increase sharply and thereby covering up unprofitable investment. More borrowers, including banks, fail to meet their obligations, and bankruptcies spread. Ensuing recession and rising unemployment aggravate the collapse of the credit structure’…
So that spells the end of the existing system, which could happen. What if there isn’t a complete end of the financial system? What if it turns into a situation like we saw in Greece and Cypress? When the banks have shut their doors and you can only get $300 out per week-how will you pay your bills and avoid your own bankruptcy?
You could consider getting out of debt now. You could consider having an appropriate amount of another form of money outside of the current system like gold or silver or a ‘Trillion Dollar Coin’ (the last one is a joke, I think). You might want to have food, water, energy, shelter and security taken care of. None of this is financial advice. Consult your financial advisor.
This situation is certainly becoming big enough for you to consult The Bible on how you should consider your actions and the eternal consequences now, during the last days of many things.
If you appreciate this article perhaps you might consider a gift to Encouraging Angels for the intelligence we provided today.
———-
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
All Rights Reserved.
By Stan Szymanski
Yesterday, I wrote a piece titled ‘Whistling Past The Graveyard-Investors Cheer The Interest Payment Made By Evergrande at the 11th hour-The Veiled Risks And Deception Of The Orients’ Real Estate Developers’ because of my concern about the Evergrande situation turning into a global event. I name today’s article, ‘A Tsunami Of Bankruptcy Is Coming From The East’ after reading the English press release via PR Newswire out of Berlin by DMSA (Deutsche Markt Screening Agentur GmbH) regarding the research written by former Fitch analyst, Dr. Marco Metzler.
According to the press release Dr. Metzler and co-authors Ewy and Dam they…’demonstrate in detail in the report for the German market screening agency DMSA that international investors alone have put around 23.67 billion US dollars into 23 bonds and three large loans of the lurching property developer. Among the already known institutional investors are such well-known addresses as Fidelity, Blackrock, UBS, Ashmore Group, Prudential, HSBC, Pictet, Vontobel, BNP and Allianz. "At the same time, we are far from aware of all international investors, but only 148 investors with increased reporting obligations, such as fund companies, who have invested a total of $3.44 billion, are known. There could still be some negative surprises here," believes Dr. Metzler.’…
In yesterday’s article I opined about the sheer number of banks and non-bank entities have exposure to Evergrande. Today, Dr. Metzler provides us with the beginnings of a list with names and exposure. Again, please be aware that this list he provides is -not exhaustive-. Many more names will appear and possibly even more liabilities as well as we reported yesterday that Fantasia Holdings had $150 Million in bonds that do not appear to have been reported in its financial statements. Will Evergrande also be found to have securities that it has not disclosed to the markets?
As I also relayed yesterday, investors cheered that Evergrande had reportedly made its past due $83.5 million interest payment with one day left before Evergrande would be declared bankrupt by the rating agencies. Please read what the Metzler et. al. via prnewswire press release has to say about this:…’The bankruptcy of Evergrande itself, on the other hand, has probably already occurred. As of Monday morning German time, no confirmation had been received - neither from Evergrande itself, nor from rating agencies on the ground, affected bond investors or banks involved - that overdue interest of $83.5 million had been paid at the end of last week - the last possible date of the 30-day grace period. So far, there are only unconfirmed press reports that the interest has been paid into escrow accounts.
However, it has not yet been received by the creditors. This would mean that the company would have gone bankrupt. But even if the interest had been paid this time, it would only be a postponement of insolvency. Because from now on, it will be one blow after the other: The next but one (also already in arrears) must be paid by November 10.’…
So according to Metzler, there is no confirmation that Evergrande actually made the $83.5 million payment even though the press was reporting that Citibank was in receipt of the money!!!
If this is true, it most certainly not only a confirmation that Evergrande is indeed bankrupt, but that the western financial press is compromised and not worth the salt that Edward R. Murrow would have put on his Spam sandwich.
In the newswires’ paragraph finale:…’In the view of the report authors, a bankruptcy of Evergrande has the potential to lead to extreme disruption of the global financial system - with bankruptcies of players that are still considered rock solid today. "Triggered by a Chinese financial virus called Evergrande, the world may be facing a 'Great Reset' - the final meltdown of the current global financial system," Dr. Marco Metzler pessimistically concludes.’…
How much more convincing does the American public need to convince them to make provision for food, water, shelter, energy, security and if you have the wherewithal, -physical-precious metals to preserve what you have worked all of you life for? Are you trusting God to navigate through what life is getting ready to throw at all of us?
A tsunami is coming from the East. You must get to high ground so to say. This tsunami has the potential (not a guarantee-this is not financial advice-consult your advisor) to destroy life as we have known it. Can you trust The CCP to tell you the truth about Evergrande? What about the western press?
If you appreciate this article perhaps you might consider a gift to Encouraging Angels for the intelligence we provided today.
——
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://finance.yahoo.com/news/venezuelans-break-off-flakes-gold-120000884.html
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
Late last week China’s second largest real estate developer made a payment on 83 million dollars of interest with one day to go before it would have been declared bankrupt. Reuters reported today that …’Shares in China Evergrande Group's electric vehicles (EV) unit <0708.HK> rose on Monday as the embattled property developer moved to prioritise the growth of its nascent EV business over its troubled core real estate operations.’…
Evergrande has to come up with another $47.5 million by This Friday or again, risk default. Evergrande has over $330 million due in dollar denominated payments during the coming months of November and December.
Evergrandes’ attempt to sell a 50.1% stake in its Evergrande Property Services arm to smaller rival Hopson Development Holdings collapsed last week. Things do not seem to be going too well in the property market as other Chinese property developers are also defaulting on interest and principle payments like Sinic and Fantasia.
According to Fitch via Nasdaq, …’Fitch ratings agency said that Fantasia Holdings Group 1777.HK, a property developer which has since defaulted, had recently told it "for the first time" that it had $150 million of private bonds that do not appear to have been reported in its financial statements.’…
$150 Million in bonds that do not appear to have been reported in its financial statements? What kind of deception is going on in China with the Real Estate Developers? These guys can’t pay their interest and principle payments and we are just now finding out about -other- securities that they issued?
In a recent Auto Blog article at MSN…’China's central bank highlighted in 2018 that companies including Evergrande might pose systemic risks to the nation's financial system.
The leaked letter last year said Evergrande's liabilities involve more than 128 banks and over 121 non-banking institutions. JPMorgan estimated last week China Minsheng Bank has the highest exposure to Evergrande.’…
So Evergrande has indebtedness to 128 banks and 121 ‘non-banking institutions’. Since most of those debt most likely involve real estate, do you think that those same banks are comforted by the fact that the Chairman of Evergrande is hanging the hopes of the company on its Electric vehicle unit that has yet to even produce a prototype, let alone a car, let alone revenue, let alone profit???
Does Evergrande, like Fantasia, have securities that were not even on its balance sheet? Was this a regular practice among the Chinese Real Estate developers? With relationships with 249 bank and non bank entities are all of Evergrande’s cards truly on the table? 249 entities doing debt business with Evergrande might just be tempted to hedge their bets with derivatives to make sure they got paid. If Evergrande is the counter-party, just how out of control could this situation get?
China’s Central Bank was right to be concerned about the systemic risk to China posed by the real estate developers. What about Evergrande’s risk to the US market? In the MSM article it stated:…’ JPMorgan estimated last week China Minsheng Bank has the highest exposure to Evergrande’…How would JP Morgan know unless they would in a business relationship with Evergrande also (since this was apparently a ‘clandestine’ document)? How much exposure does JP Morgan have? How many other US ‘too big to fail’ banks are vulnerable to the frailty of Evergrande? Do non-bank entities include the governments of the world? Does it include the United States Of America? Through the vast array of mutual funds, pension funds and US markets-does it include you?
———-
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
BREAKING:
Turkey buys all remaining wholesale silver supply at a massive premium. This forces refiners to push orders out into next near. This is not yet reflected in the silver price. Pullbacks in the silver market will be short lived and shallow from this point on according to Andrew Maguire.
This story was broken by Andrew Maguire in Episode 50 of ‘Live From The Vault-To see and hear for yourself please go to the 24 minute mark of the video: https://www.youtube.com/watch?v=WSMiH2k8MNc
This is not financial advice-consult your financial advisor. All assets whether tangible or intangible entail risk.
———-
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://usawatchdog.com/calamitous-suppression-of-early-cv-19-treatment-dr-pierre-kory/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://articles.mercola.com/sites/articles/archive/2021/10/24/li-meng-yan-covid-origin.aspx
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
S&P Global Ratings lowered the credit rating of Chinese real estate developer Sinic from ‘CC’ (otherwise known as ‘junk’) to ‘selective default’ after the company did not make the interest payment nor the repayment of principle on its 250 Million Dollar denominated bond that was due on October 18th.
According to The Straits Times: ‘A senior official with the International Monetary Fund (IMF) said risks to China's economy from an Evergrande meltdown are "contained" for now.
"People understand that the government has the tools to contain the risks going forward," IMF's China mission chief Helge Berger said on Bloomberg Television.’
What do the people understand? What kind of baloney is the IMF putting out to try to manipulate the indices to keep a stampede out of the markets from starting? Just a few days ago (10/13/21) The Epoch Times reported in ‘‘Broader Financial Stress May Emerge’: IMF Warning About Evergrande Crisis’: …’“While the authorities have the tools to step in if the situation were to escalate, there is a risk that broader financial stress may emerge, with implications for both the Chinese economy and financial sector as well as global capital markets at the extreme,” the IMF said in its Global Financial Stability Report published this month.’…
So in less than a week the International Monetary Fund is engaging in doublespeak.
A week ago it was ‘implications for both the Chinese economy and financial sector as well as global capital markets at the extreme’ and in the last 24 hours it is ‘"People understand that the government has the tools to contain the risks going forward,".
The systemic risks to equity, bond and real estate markets are now being understated by the Masters of The Universe because in reality, it is impossible to overstate them. No financial entity wants to preside over a financial catastrophe, but that situation is now looming on the horizon like the bright orange sun that rises in the East.
There is only a few days left before the 30 day grace period is up on the unpaid obligations of China’s 2nd largest Real Estate developer, Evergrande. If they don’t pay up, it’s bankruptcy.
Do you live in America? Do you notice that it is primarily the -dollar- denominated securities that are not being paid by China? No matter what side of the ‘jab’ debate you are on you would be remiss to recognize that the Chinese had a role in its development (’devil’ OP ment). There are thousands of Chinese containers just sitting off the shore at Los Angeles and Long Beach that are creating shortages in the USA. Do you think that all of this is a coincidence? Apparently, this is a coordinated operation against the United States to destroy its finance, its people and its commerce.
Preparing for the worst would, it seems, be prudent. Please consider food, water (and purification thereof), energy, shelter and security to be matters just as important as the numbers on your 401(k) statement that have you mesmerized, lobotomized and hypnotized into believing the hype (This is not financial advise; please consult your financial advisor).
Will you trust the IMF and your 401(k) statement or will you recall the wisdom and lessons that your parents or grandparents who survived the Great Depression shared with you?
———-
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
All Rights Reserved.
Encouraging Angels is a tax-exempt 501(c)(3) organization that promotes Disability and Speical Needs awareness as well as delivering music services to those affected.
Powered by Squarespace
