Breaking news: Massive kite scheme conducted by hog producer, Sunterra Farms, between US & Canadian banks — 550,000 hogs at risk
Posted by HappyAnimalCracker@reddit | PrepperIntel | View on Reddit | 20 comments
https://www.reddit.com/r/farming/s/O3qvjfOEC4
anuthertw@reddit
Im hate to ask but can you give me a good ELI5 of what the situation is?
I have zero understanding about how the farming industry actually works. I read through comments on the linked post and read a little of the docket linked but honestly I dont know enough about how the industry operates to really understand what I am reading.
Are the hogs at risk of not being paid for, hurting the farmers that sell them, or visa versa? Are the hogs for slaughter, I assume? Dumb question but....pigs and hogs are the same thing right, in this context or are they different...?
Agitated-Score365@reddit
The hogs are being grown for slaughter. The issue is that there won’t be money available for feed, medicine and overall care. Large agribusinesses are often cooperatives. Many farmers produce for a large corporation who buys their product for market. This issue is on top of the many issues that farmers are facing such as loss of markets due to tariffs, rising prices for supplies for growing and loss of income due to federal programs such as SNAP and USAID which buy a lot.
anuthertw@reddit
Gotcha. Thanks. So the hogs are at risk of starving... or will they be sold as fast as possible?
Agitated-Score365@reddit
Yes and overall care- meditation if needed, bedding if needed. It also inhibits the farmers ability to maintain the environment. Farms require upkeep. It’s a lot to deal with in addition to all the other issues farmers face. Farmers have one of the highest rates of suicide. People romanticize it as an easier or more wholesome lifestyle but it’s brutally difficult.
anuthertw@reddit
Jesus. :/
engineer2012@reddit
yup Im one of the farmers affected and we have almost 8% interest rate on our barn, we rely on these checks to make ends meet, and right now, they aren't.
Agitated-Score365@reddit
That’s our food supply. Did you ever read the Grapes of Wrath by John Steinbeck? I lost my home at the early edge of the Great Recession. That was one of my favorite books. I stole from my high school in 10th grade. I reread it in 2008 and it was so on point. If you never read it you might want to.
anuthertw@reddit
You know I havent actually. It is probably time I do read it. I missed out reading most of the classics most kids read in school. Still catching up, lol. Thanks for the suggestion.
I was a teen in 2008 but my family lost everything, it was awful. Im sorry you lost your home and I really hope things work out for you this time around
SadCowboy-_-@reddit
I hated them in middle/high school but as an adult I find it much more relatable and enjoyable.
Agitated-Score365@reddit
You too.
Opposite_Ad_1707@reddit
This 👆👆👆 Amen to you for speaking it so clearly for all to understand.
SBTreeLobster@reddit
Thanks for asking about what I was wondering, too!
Substantial_Lunch_88@reddit
Just don’t eat pork for 4 months
botingoldguy1634@reddit
Check kiting is floating checks between banks basically with non existent funds. It’s fraudulent and illegal.
Realistic_Cycle_2999@reddit
if you all care for a rabbit hole you should read about check kiter felon turned billionaire Adam Weitsman. A grand turnaround in the squeaky clean business of scrap metal....
ScarletCarsonRose@reddit
My partner was a master of this in the 80s and 90s before electric banking 😂
Couldn’t get away now
MobileSuitPhone@reddit
The SEC doesn't care when it happens with stocks
jayleia@reddit
OK, a quick Googling, that comes to almost 80 million pounds, and we produce a bit over 40 billion pounds per year, so that's almost 2% of our supply.
I'm sure if we run short our friends will be happy to help us, right?
TruganSmith@reddit
How is this different from banks charging interest? How is $37 Trillion in debt not the same as kiting?
Rhetorically speaking, not literally guys.
SurviveYourAdults@reddit
why am I not surprised...