The meeting did take place in Salvación. No ministers nor other requested persons came, but the same negotiators as usual. About another hundred people, both natives and colonists, came too. The three foreigners present were identified and intimidated by the district's prosecutor and police officials who showed an aggressive attitude, besides being heavily armed as if they were ready for a second Bagua.
No agreement was signed and Hunt Oil announced that its work will continue. We also found out that
a) the seismic lines have already been finished almost entirely without the communities knowing about it.
b) there are 1100 workers inside the Reserve.
c) there is a report of footprints of uncontacted indgenous people by an Indigenous SAE worker from Shintuya.
After the meeting everybody opted for withdrawal from the place. The police followed us and settled down next to the "native camp", which made us flee to the Alto Madre de Dios riverbank in order to travel downriver to Puerto Maldonado the next day.
The conclusion of the leaders is that at this point all possible peaceful means to paralize the company`s activities and get the workers out of the Reserve have been truly exhausted. Now they are thinking of violent measures as the last resort. We are still looking for more press coverage.
......for most of us.
For example, somebody in Brazil would have done much better in buying a new car earlier this year than 20 ounces or so of gold that would have cost BRL48,000 in late Feb but just BRL36,000 today.
Tant pis. I hope some of you took advantage, anyway.
...gold December futures, daily candle (but with a scale change)
It's all perception, you know. Get whisked away by the daily cuts and thrusts and you see the new bull and the end-of-the-world in every twist and turn of the dollar, crude, gold, silver or what have you.
But change the scale on the chart to zero to 1100 and there's a different perspective. To cut a long story short, a few days on the road and away from the screen (last day today) have done me some good. Now off to stare at some rocks.
Missing the boat and even being dead wrong, however, has not stopped the Casey
gang from tooting its horn in self-congratulation, a having your cake and eating
it habit that Stockwatch's John Woods delights in documenting, much to the
displeasure of the Casey Research team. In a recent egregious example Louis
James of the Casey team reiterated his sell recommendation of Rare Element
Resources Ltd, which he had originally recommended at $1.20 on October 19, 2007.
After watching it sag below $0.50 during 2008 and then jump in late May 2009
after Jim Dines recommended the stock, the writer on June 1, 2009 recommended
"recovering your original investment" at $1.41 to his readers, which meant
effectively selling most of the Rare Element position bought at the original
$1.20 recommended price. After Rare Element shot over $4.50 Louis James
described his pick as being up 228.3% at $3.94 and urged any readers who have
not already done so to take profits. Chalk up another big score on behalf of the
Casey stock-picking team. But in an even more cynical practice widely used in
the group's energy report, the Casey team will write up some expensive oil
stock, recommend buying it with a "stink bid" as much as 50% below the market
price, which is in effect a short sale recommendation, and when the stock moves
higher instead, they "close the position" while listing the stink bid price as
the initial recommendation price. For example, in June the energy group
recommended that readers buy Linn Energy LLC at $13 even though it was trading
at $20, and when the stock instead moved to $24, they closed out the position in
October which in the report is listed as "initially recommended at $13 in June
2009". John Woods probably goes to bed every night praying, "please, please,
Casey Research, please sue me".
Posting will be light for the next couple of days. Your humble correspondent has been let out the house by la jefa and will be roaming round the region getting up to all sorts of mischief. Hopefully some posts will make it through, but full service won't return until Friday at the earliest. Con permiso........
LIMA, Oct 27 (Reuters) - Tribes in Peru say they want U.S. energy company Hunt Oil to abandon an exploration project in a virgin corner of the Amazon rainforest, and they have filed legal challenges against the government and the company to force it out.
Representatives of the tribes said on Tuesday they would sit down for talks with officials representing Hunt. Earlier this week, the tribes threatened to forcibly remove oil workers from a camp near the town of Salvacion in the Madre de Dios region of southern Peru.
"There is going to be a dialogue. We have to wait for the result of this meeting before we know about the removal," said Maria Gonzalez of the Fenamad indigenous rights group.
The tribes say a government concession to Hunt and Spain's Repsol (REP.MC) to look for oil in Block 76 is unlawful because it overlaps the Amarakaeri Communal Reserve, protected ancestral lands that could hold billions of dollars of oil deposits.
As the complaints wind their through the courts, the government of President Alan Garcia contends that the tribes control only surface rights of the reserve, while the government can lease subsoil mineral rights to foreign companies.
Tribes, frustrated by the slow pace of court cases and the government's stance, say Peru's position ignores their rights to autonomy and self-determination under the U.N. charter on indigenous peoples.Hunt Oil declined requests for an interview about CONTINUES HERE
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“We had a permit and developed the property,” Doug Belanger, president of the Spokane, Washington-based company said today in a phone interview. “We had a permit to construct and they revoked it without a basis in law.” CONTINUES HERE
Meanwhile, if you're long KRY and feeling all shadenwhatnot...big mistake. Fung's funhouse is next.
Here's the 5 day chart, 15 min intervals, of a selection of small silvers:
You be the judge, but not even the most bullish news possible for FVI could stop its drop today.
The Correo de Caroní is today reporting that the Venezuelan government has taken over control of the Brisas (GRZ) and Las Cristinas (KRY) gold projects.
Here's the beginning of the text translated into English:
October 27: The camp of the multinational Canadian Gold Reserve, Brisas del Cuyuní, located in Las claritas, was taken over by functionaries of MIBAM and hand over to the state run Minerven who from now on will be in charge of the installations. Luis Herrera, president of Minerven, was present at the occupation at which the Correo del Caroní was exclusive media witness.
Here's how the original Spanish text begins:
El campamento de la trasnacional canadiense Gold Reserve, Brisas del Cuyuní, situado en Las Claritas, fue tomado por funcionarios del Ministerio del Poder Popular para las Industrias Básicas y Minería (Mibam) y entregado a la estatal Minerven que desde ahora se hará cargo de las instalaciones. Luis Herrera, presidente de Minerven, estuvo presente en la ocupación a la cual asistió en exclusiva Correo del Caroní.
For those who think it's a hoax, here's a scan of the relevant page of today's Correo Del Caroní.
UPDATE: 32 minutes after IKN reports it, GRZ admits it in this news release.
Gilbert said that, inside a Latin America that has responded better to the (financial) crisis than the industrialized nations, Bolivia stands out with the highest projected growth rate for 2009 of 3.2%, in contrast to Mexico that is heading for a close of negative 7.5%.
"Bolivia has applied successful macroeconomic policies. Its savings and reserves now permit it to apply a countercyclical policy we we suggest it should continue to face any further extrernal economic shocks in the future", he said.
Amongst the successes of Bolivian policy, he highlighted the savings made in the bonanza times of high priced primary goods instead of having spent nearly all the income as other regional countries have done."
The brass-necked bullshittery of the IMF knows no bounds. Anyone with an inkling of economic nous about Bolivia knows that the country managed to increase its international currency reserves to its current all-time record of U$8.5Bn due to one simple policy change, namely the nationalization of the hydrocarbons (i.e. natgas) industry. Now do you remember back in 2005 and 2006 when the world and his wife was decrying this Evo-led policy move? How it would never work? The very same IMF neolib assholes saying it would all end in tears?
So here we are three years later, going through the worst financial crisis in modern times, and the policies of Evo Morales' government are getting praise from those who would have led the country down the path to total ruin. The IMF really deserves this week's coveted award for this one.
But finally, please note how many stories about the IMF's praise for Evo's Bolivia and its macro policy have been published by English language media: Zero. Amazingly..... stunningly... incredibly......
And thus President Evo Morales was caught by his people yesterday. He visited the altiplano town of Batallas and it didn't go un-noticed that his was his 50th birthday. Here's what happened:
Expect TRY.to under CAD$2.50 today. For the record, this long not worried.
*Bend Over Here It Comes Again
But what Otto lacks in physical ability, he still retains in spirit.
“He’s still playful,” she said. “He can still jump all over people when they come ‘round.”
Nuff said. Errrr...."Thank you", CB*
TheNewCrystallex (EC.v) down 5.7% at $0.50. That "end of August" permit a little late in arriving, no? Or maybe it's because the scamsters forgot to specify which August they were talking about.
New Dimension (NDR.v) down 19.4% at $0.145. The martiano landed, took all your money and flew off again.
Petaquilla Minerals (PTQ.to) down 26.7% at $0.22. Walnut Street, a classic example of a "what could possibly go wrong" fund run by Ivy League idiots who invest seven figure sums of your money without bothering to do a site visit. This stock is dead, which is good news for all the industry.
ECU Silver (ECU.to) down 6.9% at $0.68. It didn't work, did it Adrian?
In an article that the nutbar published last week he included this pearl of whizzdumb:
"The only practical and relatively foolproof way to test for gold's purity is to cut into gold jewelry with a file, and test it with acid, because true gold will not corrode, or dissolve, with a certain strength of acid. The acids will bubble under the microscope if they encounter impurities such as copper in 22 karat gold. (Very strong acids, such as cyanide, will dissolve gold.)"
I don't know exactly how much you know about chemistry, kind and gentle reader, but if you took Hommel at his word, decided to do some playful stunts on a lump of gold with acid, then due to non-results decided to "beef the acid up a bit with some of that there cyanide", it would be the last thing you ever did (on this side of the Elysian Fields, anyhow). Or as one IKN reader who wrote in to Hommel pointed out to the dude:
…such as cyanide will dissolve gold”.
Wow… I’m absolutely speechless.
Jeez, dude you would be immediately dead if cyanide was put in an “acidic” environment, i.e., a ph <7.>
Gold only dissolves in one acid: Aqua regia, a mixture of concentrated nitric and hydrochloric acids.
I guarantee the author of that letter is somebody that really, but really knows what they're talking about, too. On the other hand, a little knowledge is a dangerous thing. Hommel has very little knowledge about his subject. He is a dangerous thing. DYODD.
But not the kind of screw-you, hatred-filled capitalism now preached North of the Rio Grande. Why not compare the attitude towards the world shown by Citi or Goldman to the attitude of Mexican bank Compartamos (COMPART.mx). Here's an extract from today's post from the evergreat Mexfiles featuring this bank. Click through for the rest (you'll be glad you did).
Given that Compartamos works with the client to assure they are able to pay the loan, what started as a not-for-profit microlending service became a normal business in 2000 and the next year became the first microlender to issue debt in the capital markets. In 2006 it was transformed into a “normal” commercial bank… with one important difference. It’s not only considered one of the best employers in Mexico, it’s doing what banks aren’t supposed to do… turn a healthy profit in an economic slump
I don't hear a word they're saying,
Only the echoes of my mind.
The solution? Block out the noise, do good DD and make sure your money is on stocks with serious people and good prospects. If you want to play double or nothing with your money, I suggest LasVegas as a better option. The house there still wins in the long run but it doesn't have half as much of an advantage as it does amongst the sharks of the TSX.
Do your own research. Do your own checking. Do your own DD. There are too many people out there ready to rip you off to trust anyone but yourself.
Here's the latest from "Change only a dumbass can believe in".
Philip S. Goldberg, Nominee for Assistant Secretary, Bureau of Intelligence and Research, Department of State
Philip S. Goldberg, a career member of the Senior Foreign Service, is the United States Coordinator for Implementation of United Nations Security Council Resolutions on North Korea. Mr. Goldberg has served as Ambassador to Bolivia; Chief of Mission in Kosovo and Charge d’affaires and Deputy Chief of Mission in Chile. He is currently coordinating implementation of U.N. Security Council Resolution 1874, an assignment he will continue pending confirmation by the Senate when a successor will be designated. His earlier assignments include: acting Deputy Assistant Secretary of State for Legislative Affairs; Executive Assistant and Special Assistant to the Deputy Secretary of State; Bosnia Desk Officer and member of US delegation at Dayton Peace Negotiations; Political-Economic Officer in South Africa, and Consular and Political officer in Colombia. Mr. Goldberg is a graduate of Boston University.
Just goes to show that even a cop killer can get to the top these days. What? They didn't tell you that when he used to go under the pseudonym 'Emiliano' in his more militant days he shot dead a police officer by putting seven bullets in his back?
Strange how these things get forgotten, isn't it?
UPDATE: Tough to call accurately, but it looks most likely that there will be a 2nd round run off in November. Mujica is polling slightly under the 50% he needs to seal it at this stage. Rightwing Luis Lacalle will face off with him and is currently polling 305 or so.
As for the question, "What's in the weekly this time, Otto?", the answer is, "11,917 words".