Covid Farm Assistance a sham useless garbage

[FarmJunkie]

We are phucked beyond phuck and the morons in charge for the last 45 years don’t give a shit!

[Oliver88]

From the website:

COVID-19 support program
Summary of current program details
To ensure producers, agribusinesses and food processors can remain focused on business-critical functions rather than worrying about how to access funds to keep operating through this challenging period, effective immediately, FCC has put in place:
a deferral of principal and interest payments up to six months for existing loans;
or a deferral of principal payments up to 12 months
access to an additional credit line up to $500,000, secured by general security agreements or universal movable hypothec (Québec only)

It sounds like all 3 of these programs will lead to more debt?

[the big wheel]

One loan payment extended 6 months only delays the problem. And that would have occurred anyway courts aren’t filing anything right now so everyone has 6 months at least.

The new funding is not interest free and can’t be used for your input bill etc that has to be paid now or no seeding for many. Banks and fcc are worried that the virus has devalued everything including land so unless there is backing to all farm lending institutions the new money is only for those buying out the ones that aren’t the favourite FCC customer?

And even if it was a good program fcc has no capacity at all to process all the business going their way Prior to seeding people working from home?

How long is it going to take to sort out with your bank and fcc who has the collateral? Fcc will be demanding you list how many Costco toilet paper rolls you have because they are going to want to have something of real value to back these loans.

The banks don’t want to help out because all the input loans overdue now have 18% interest charges going retroactive. You think fcc will take over that problem “ on a case by case situation”.
And figure that all out prior to seeding?

My point is workers get non repayable wages businesses getting 25% forgivable loans and we re getting more access Given up to our equity to keep going?

[farmaholic]

God bless those that truly need help during these covid19 times !

Good luck to all !

AngriStabilty and Crap Insurance will carry wiseguy through to the promised land...have faith.

[the big wheel]

AngriStabilty and Crap Insurance will carry wiseguy through to the promised land...have faith.

Wise guy has the inside track being quarantined
In the same house as the CEO of crap insurance. Lmao!

[GALAXIE500]

Will end up a land grab for someone ...

Yeah , I think you are right on this one. There will be some operations , no matter what are who will be waiting in the wings for someones operation to fail , so they can offer to " help them out" in their time of need. It isn't fun being played like a pawn in a chess game.

[macdon02]

I think you guys are all correct in how you see the programs, but it's odd it came so so early into shutdown. Im gonna try to prevent this sounding like a "conspiracy theory". So one would have to ask why? Was there blood in ag before this occurred? Definitely. Name the last time govt was proactive on anything? Before it turned into a critical situation. What is different in this situation compared to previous farm crashes? Well we have Chinese and pension funds that are heavily invested in ag. The Chinese are currency sensitive and the pension fund, teachers, CPP, can't take a write down in land values and a commodity price hit without being forced out, tanking land values affecting FCC en mass. Those three will get protected by govt. Govt just used the cover of empty shelves to sell what they had to do anyhow. Doesn't matter the flag they wave they won't act proactively. Im guessing this is a racket between FCC, the pensions, and the Chinese investors that bought their citizenship. Nothing says this program was designed for western Canadians, why would they do that when nobody voted Liberal here. The other side of this is the meat processors and the McCain family. There's a lot of French fries not being eaten in restaurants and old Billy boy has some connections. Maybe the entire 5 billion is going to Maple Leaf and McCain? Which they'll forgive a hefty % after the fact. Never take a liar at face value. There's more going on than what we are told. It'll come out soon enough.

[Misterjade9]

That's not a conspiracy theory, that is how big business and political hacks work, you lobby government in your best interest. You need to ask the question, who lobbies for you?

[macdon02]

That's not a conspiracy theory, that is how big business and political hacks work, you lobby government in your best interest. You need to ask the question, who lobbies for you?

I am but a sheep to be sheared