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Another Run on Greek Banks Begins; Get Out While You Still Can; Buy Gold

In November, Greeks withdrew €220 million from banks. In December, the figure soared to €3 billion.

My advice to Greeks is simple: Get out while you still can. That means now!

Via translation from Libre Mercardo, please consider ECB Threatens to Unleash the ‘Banking Yard’

The term “banking yard” is in reference to what happened to Cyprus depositors. What follows is my translation of the article.

According to initial estimates, Greeks withdrew €3 billion from their bank accounts in December. €600 million of that total came on December 29, when Greece failed to elect a new president, thereby forcing national elections on January 25.

In comparison, November when net outflows totaled about €220 million.

The risk of bank runs in Greece is reactivated. In this sense, just remember that since 2010, when the crisis hit the euro, the Greek bank deposits dropped 37% but even after the rescue by the troika, deposits never recovered. This data demonstrates strong distrust by Greek depositors of the monetary union.

Read more at http://globaleconomicanalysis.blogspot.com/2015/01/another-run-on-greek-banks-begins-get.html#cUAYXeIJg572HbQD.99

Chilean lawmakers are discussing a bill that would force mining companies including giants such as BHP Billiton, Anglo American and Rio Tinto to run all of their copper mines in the country using desalinated water from the Pacific Ocean.

The lower chamber of deputies’ measure, introduced last year, would only be imposed to miners that consume more than 150 liters (40 gallons) of water per second, Noticias de Mineracao reports (in Portuguese).

A number of mining companies have already introduced plans to develop such facilities, including Freeport-McMoRan’s El Abra, as well as the Radomiro Tomic and Chuquicamata divisions of state-owned copper giant Codelco.

Mining giants Rio Tinto (LON:RIO) and BHP Billiton (ASX:BHP) unveiled last year a $3 billion plan for a plant that’ll pump treated seawater 10,000 feet high to their jointly owned Escondida copper mine.

But the one winning the race is Anglo American (LON:AAL), which in November opened the first plant of its kind in the country to ensure enough water for its Mantoverde mine. The operation was until then using freshwater from the Copiapo river, the main water supply for local residents of the Atacama region. Now it is mostly grabbing seawater in a catchment tower, located 300 metres from the seashore, where water is filtrated and purified to extracts residue and salt. This liquid can then be utilized by the Mantoverde operation, which comprises an open pit mine, crushing plants and facilities for processing oxide ores.

Companies in Chile are not the only ones concerned about finding means to improve the way they conserve, manage or obtain water. Since 2011, companies around the world have spent more than $84 billion on the task. And overall the mining industry alone, says Global Water Intelligence, is expected to spend more than $12 billion on water this year.

Chile mulls making water desalination mandatory for miners

Why no sanctions on Terrorists yet?? What are the PTB waiting for?? They put sanctions on Cuba years ago, and Cuba didn’t even do anything.

Cartel still defending $1220 like it’s some sort of all-time high.

Fed boy Charlie Evans on CNBS this a.m. basically saying no way, no how we raise rates until at least 2016. Falling wages, no inflation scaring the hell out of him.

Recent speculation that very strong gold imports into India in October and November would lead to further import restrictions, a new statement suggests that this is no longer seen as necessary.

A Reuters report yesterday quoted India’s Trade Secretary Rajeev Kher as saying that the country’s Current Account Deficit (CAD) was now under control so there was no need to impose further import controls on gold.

more http://www.mineweb.com/india-no-longer-worried-gold-imports/

Hurray for Norway!

http://www.politicalears.com/blog/is-anybody-surprised-norway-deports-muslims-crime-rate-drops-31/#.VKUkURppK8G.twitter@pvv

Seems the whole world hasn’t gone mad, there is some common sense left.

i am surprised the VIX hasn’t fallen to 3 or 4….the U.S. gov. has built the first perpetual motion machine

Tyler Durden’s picture

Labor Participation Rate Drops To Fresh 38 Year Low; Record 92.9 Million Americans Not In Labor Force

Submitted by Tyler Durden on 01/09/2015 – 08:52

Another month, another attempt by the BLS to mask the collapse in the US labor force with a goalseeked seasonally-adjusted surge in waiter, bartender and other low-paying jobs. Case in point: after a modest rebound by 0.1% in November, the labor participation rate just slid once more, dropping to 62.7%, or the lowest print since December 1977. This happened because the number of Americans not in the labor forced soared by 451,000 in December, far outpacing the 111,000 jobs added according to the Household Survey, and is the primary reason why the number of uenmployed Americans dropped by 383,000.

Gold Reserve Provides Update Relating to Paris Court of Appeal Hearing

http://finance.yahoo.com/news/gold-provides-relating-paris-court-002700660.html

SAS reports 2014 annual production of 90,676 ounces of gold, and announces release date for Q4 2014 financial results and conference call

http://finance.yahoo.com/news/sas-reports-2014-annual-production-133000954.html

Banks Island Gold Ltd. Declares Commercial Production at Yellow Giant

http://finance.yahoo.com/news/banks-island-gold-ltd-declares-140000733.html

he also said houseing was weaker than expected…..but then again if he was honest, he would have had to say , it’s all crap, we’ve screwed up beyond belief and haven’t the faintest idea what to do next…..apart from letting Government Sucks Algo run all mkts, makeing the numbers up according to which way the Banksters book is that day and turning a blind eye to Lloyd and Jamie front running their own Algo.

for a while…..but all back to normal now and anyone who doesn’t say these mkts are rigged 24/7, is bought and paid for.

That said various indicators I use are being pushed to ridiculous extremes in the Dollar and Oil, can the Scum keep this up…..tdy will tell a lot.

what’s a few billion here and there? in my city letting your license plate sticker lapse (even if car is just parked on a city street) is now $75. Why just $75 and not $750? there’s no real difference, fraud is fraud. This is unconstitutional taxation without representation. And it’s only going to get worse. I still can’t figure out what we’re going to do with all these government clown workers that suck off the system and have no real world skills.

up 252K, unemployment rate dropped to 5.6%

G & S steady, maybe because Avg. Hourly Wages fell 0.2%?

I think Charlie Evans said the other day that he was concerned about “wage growth” and that’s why they can’t raise rates.

We’ll see if the boyz mount their usual attack.

is a view of the Future with “Highways in the Sky”

Sometimes 4 Highways over each other .I am told there are several separate Billion Dollar  construction s going on at the same time .

Some were just completed “under Budget” ..Most were started under Bush Admin..

The same area shown also has a tunnel under it with its own roadway…

The is North Dallas near N.North Mall