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“We Decided To Stop Paying”: China’s Mortgage Payment Boycott Spreads As Property Suppliers Refuse To Pay Their Bills

In a jarring case study of what happens when a ponzi scheme goes into reverse, hundreds of contractors to the property industry complained that they can no longer afford to pay their own bills because developers including China Evergrande Group still owe them money, Caixin reported, citing a statement it received from a supplier Tuesday.

Similar to homebuyers who have taken a stand and refuse to pay for properties that remain uncompleted, one group of small businesses and suppliers circulated a letter online saying they will stop repaying debts after Evergrande’s cash crisis left them out of pocket.

“We decided to stop paying all loans and arrears, and advise our peers to decline any requests to be paid on credit or commercial bill,” the group said in the letter dated July 15, which was sent to the developer’s Hubei office. “Evergrande should be held responsible for any consequence that follows because of the chain reaction of the supply-chain crisis.”

https://www.zerohedge.com/markets/we-decided-stop-paying-all-loans-chinas-mortgage-payment-boycott-spreads-property-suppliers

Re Water

That is the general direction, ‘they’ are travelling in…they really do think everything we have, is really theirs.

I remember years ago we had a test case, whereby a farmer tanked his water off his roofs and told the local authority to shove its bill…it went to court and the court ruled that because the water fell out of the sky, it was not his…so he had to pay up !!!!

My wife crashed her car yesterday. She told the Police that the man she collided with was on his mobile and drinking beer from a can at the time.

The Police said that the gentleman was entitled to do what ever he wanted in his own back garden.

California EPA Asserts Shockingly Broad Domain Over Private Property

Letter: Blumenfeld tells well owners they now must pay for their own water

by Ken Kurson, July 20, 2022

Legend has it that Jed Clampett “was shootin’ at some food / When up through the ground come a bubblin’ crude.”

The Beverly Hillbillies’ transformation into instant millionaires illustrates one of the oldest conceptions in the western world: What’s on your land belongs to you. This idea predates the founding of America. If you find gold in your backyard, that resource belongs to you.

California wants to change that.

A source near San Diego has shared with California Globe a shocking letter that’s quietly being delivered to owners of private wells.

“California is marching toward a world where those with wells on their own property will be required to put a meter on them and pay the government,” writes the source. “Because in their world, the government owns everything and we’re just renters.”

https://www.zerohedge.com/news/2022-07-20/california-wants-you-pay-state-using-your-own-water

run Forest run!!

I thought Marcus Lemonis was a smart guy … I guess not!

NYSE: CWH 26.48 (-35%) Year to date.

NEM down already near 1 %….this is gonna be a huge fight…..as the ECB has signalled the CB’s are well and truly ‘effed….sri for language…but nothing else says it as well.

With Crypto’s shot and the SM full of liars….it’s what u can hold.

USD now screaming higher, GLD, SLV gains gone.

and the nightmare continues…

Yeah, that’s what I think might happen here too.

The USD has come all the way back after being down .5%, rates are down a smidge but the scum is all over us. As usual.

Pan American Silver drills highest grade intercept to date on the La Colorada Skarn project

https://finance.yahoo.com/news/pan-american-silver-drills-highest-100000510.html

Integra Intersects 2.26 G/T AuEq Over 102 M at Sullivan Gulch, Including 1.30 G/T Au and 2,718 G/T Ag (36.28 G/T AuEq) Over 1.53 M

https://finance.yahoo.com/news/integra-intersects-2-26-g-104500882.html

IAMGOLD Publishes 2021 Sustainability Report & Named as One of the Best 50 Corporate Citizens in Canada

https://finance.yahoo.com/news/iamgold-publishes-2021-sustainability-report-110000190.html

First Majestic Produces 7.7M Silver Eqv. Oz in the Second Quarter Consisting of 2.8M Oz Silver and 59,391 Oz Gold; Announces Updated 2022 Guidance and Conference Call Details

https://finance.yahoo.com/news/first-majestic-produces-7-7m-201000737.html

First Majestic Silver Corp. Announces At-The-Market Offering Equity Program

https://finance.yahoo.com/news/first-majestic-silver-corp-announces-224300969.html

Eloro Resources’ Deep Underground Hole DSBU-10 Intersects 188.64 g Ag eq/t (44.75 g Ag/t, 0.08 g Au/t, 1.05% Zn, 0.76% Pb and 0.14% Sn) over 349.08m in Core of Feeder Zone in the Santa Barbara Target Area at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

https://finance.yahoo.com/news/eloro-resources-deep-underground-hole-100000126.html

Cabral Gold Drills 13.0m @ 4.6 g/t Gold Including 1.0m @ 49.2 g/t Gold within Gold-in-Oxide Blanket at the PDM Target, Cuiú Cuiú District

https://finance.yahoo.com/news/cabral-gold-drills-13-0m-103000206.html

Moneta Intersects Significant Gold Mineralization and Confirms Continuity from Infill Drilling on the Westaway Deposit at the Tower Gold Project

https://finance.yahoo.com/news/moneta-intersects-significant-gold-mineralization-105000960.html

Benchmark Advancing New Targets to the Drill-Ready Stage at Its Gold Silver Project

https://finance.yahoo.com/news/benchmark-advancing-targets-drill-ready-130000790.html

WALKER ANNOUNCES SHARE CONSOLIDATION

https://finance.yahoo.com/news/walker-announces-share-consolidation-130000839.html

i-80 Gold Provides Update on Underground Development Program at McCoy-Cove

https://finance.yahoo.com/news/80-gold-provides-underground-development-100000432.html

Kiboko Gold Completes Earn-in Option on the Harricana Gold Project Located 55km North of Val-d’Or, Québec

https://ceo.ca/@businesswire/kiboko-gold-completes-earn-in-option-on-the-harricana

G.E.T.T. Gold Establishes a Working Relationship with ESGold Corp.

https://ceo.ca/@thenewswire/gett-gold-establishes-a-working-relationship-with

CANTEX CONTINUES TO INTERSECT MASSIVE SULPHIDES TO DEPTH AT NORTHEAST END OF MAIN ZONE ON ITS 100% OWNED NORTH RACKLA PROJECT, YUKON

https://ceo.ca/@newswire/cantex-continues-to-intersect-massive-sulphides-to

Rockhaven Commences 10,000 m Drill Program at its Flagship Klaza Gold-Silver Project, Yukon

https://ceo.ca/@accesswire/rockhaven-commences-10000-m-drill-program-at-its-flagship

TriStar Gold Submits Major Environmental Permit Application at Castelo De Sonhos Gold Project, Para State, Brazil

https://ceo.ca/@newsfile/tristar-gold-submits-major-environmental-permit-application

Melkior Receives TSXV Approval for Genex Au-Cu Project (Incl. 2.26 g/t Au Eq over 33.85 metres)

https://ceo.ca/@thenewswire/melkior-receives-tsxv-approval-for-genex-au-cu-project

Silver Sands Resources Returns 720 g/t silver over 4.85 metres and 124 g/t silver over 11.95 metres at Virginia

https://ceo.ca/@newsfile/silver-sands-resources-returns-720-gt-silver-over

Osino Closes Ondundu Acquisition From B2Gold Through Shares Issuance

https://ceo.ca/@globenewswire/osino-closes-ondundu-acquisition-from-b2gold-through

the paper that just won’t burn

The paper prices are premiums for them in reverse.

I cannot believe the premiums on American silver eagles.

The scum have driven paper prices down to insane levels….historians will cite them as glaring examples of how mad they went….

Morning

Note that the ECB has had to keep buying Italian Bonds…..no-one else is….as per Armstrong….it won’t be long before the rest of Club Med are queuing up for some special ECB QE.

The Rig is all that is holding this crap together…..Gold 25 % below production costs….is a screaming buy…and that is without the monster scum short….

I cannot believe the premiums on American silver eagles. It’s almost twice the price. Hard to believe it’s supply issues. Supply, double for them for them too and this is what you pay.
Dow, S&P Russel down, Nasdaq up probably on earnings going on for now.

Finally, a little bit of a challenge to the USD.

Still holding out hope that we can reverse, the USD is now falling.

GLD just popped positive after being down $1.50. SLV trying.

this spike down gets reversed after the open. Hate to even think what happens if we don’t…

Breakout to crash in less than two months. My brain was actually telling me that this last rally was the “big one”

All commodities getting punched in the mouth this am.

Silver junket for BNSF shippers
https://railpictures.net/photo/796263/
https://railpictures.net/photo/796264/

He doesn’t have cancer. Had skin cancer resolved probably with all his pool talk and his sun bleached hair on his legs he talked about.
But he’s blaming it on Delaware “ when it rained it was raining oil he said. That the windshield wipers had to brush the oil off the windshield when it rained. I think oils too heavy to evaporate and coke down as rain. It’ll be interesting how the media play this one out. Even the left is pivoting.
https://www.aa.com.tr/en/americas/white-house-clarifies-after-biden-appears-to-say-he-has-cancer/2641958

Just wondering.
Second up now although not enough information so can’t say one way or another does Biden really have cancer or are they making plans to get him out of the way before the next elections without having to step down due to dementia.
He blurted out he has cancer and he got it from his home town but keeps going back there what, every week?

Clif sees the demise of the FedRes and makes some connections to that end.

https://clifhigh.substack.com/p/tanks-for-the-memories