Chuying Agro-Pastoral Group (0002477 CH) was recently forced to work with bondholders to eventually get them to recognize -- they could either be repaid in ham ... yes, I said ham, like pigs, "payment-in-swine" -- or they'd likely receive nothing as the company struggles to handle its massive debt load at a time when eurodollar markets are suffering from a massive dollar shortage as the Fed winds down the balance sheet and rates in the US rise and attract capital from overseas, leaving most countries outside the U.S. with weakening currencies and a bit of a crisis given the U.S. dollar is the world reserve currency and fractional banking in eurodollar system has created liabilities (bank liabilities) against far more dollars than ever existed in circulation. These funding shortages coupled with China's Communist Party (the "CCP") leader Xi Jinping's missteps in pursuing world domination (hint: don't announce it, especially if you plan to steal from everyone and force them to handover their technologies along the way, theft is best executed in a clandestine fashion). Other ideas forthcoming, but preview $CCRC (total fraud), a Chinese NASDAQ-listed ADR and $PDD (yet another Chinese fraud listed on NASDAQ)
Comment:
By the way, you see the chart: equities rallied on the news the bondholders agreed to accept ham instead of RMB. It may be worth more anyways, but that's another topic of discussion. Here I wanted to mention the foolishness of that move upward - it's akin to screaming "yay, they're not going bankrupt TODAY!" And since equity is a subordinate ownership interest relative to debtors, in bankruptcy if debtors get ham these investors buying the stock must be expecting the non-saleable post-slaughter leftover pork product (i.e. hooves and the like, which are ground with intestines and other leftover parts and used to make sausage casings and Vaseline, fuel, et al).