Sunday, December 9, 2012

Obama Writing "Rules" for Killing People with Drones

From TheRealNews

Michael Ratner: Pres. Obama debating rules that allow him to kill extra-judicially anyone considered an enemy combatant anywhere in the world including US citizens and by logical extension, within the United States.

On The Edge - Post US election economic update

From PressTVGlobalNews

In this edition of the show Max interviews Greg Hunter from He talks about the post US election economic statistics including the latest jobs and manufacturing numbers. Greg is the producer and creator of Greg Hunter's

Guidance issued to promote the sustained and healthy development of the Chinese gold industry

A recent report from Chinese The Ministry of Industry and Information Technology (MIIT) on the Chinese Gold industry. Larger font text sections are my emphasis.

English translation by google translate. View the original Chinese version here

The MIIT original [2012] No. 531

Ministry of Industry and Information Technology November 19, 2012

Industrial and information technology departments of the provinces, autonomous regions, municipalities directly under the Central Government, the industry associations, the central enterprises:

Gold is a special product of the dual attributes of both commodities and currency, and has an irreplaceable role in the response to the financial crisis, safeguard national economic security. In order to guide the healthy development of the gold industry, and promote the orderly development of gold resources, improve resource utilization levels to promote gold and industrial restructuring, accelerate the the gold industrial transformation and upgrading, formulated guidance.

First, the industry status quo

(A) the achievements

After years of development, China's gold industry has formed a relatively complete industrial system of geological prospecting, mining, beneficiation, smelting, processing and scientific research, the industry has laid a good foundation for the gold industry bigger and stronger.

Gold production grew steadily. China's gold output reached 361 tons in 2011, of which 302 tons of gold mine production gold colored byproduct of 59 tons, the total output, compared with 2005, the average annual growth rate of 8.3%, for the fifth consecutive year ranking first in the world. Meanwhile, China is the gold jewelry and other products processing superpower and processing production accounts for about 60% of the world.

China's gold demand is growing rapidly. In recent years, gold to hedge against inflation and financial risks is increasingly apparent, are growing holdings of gold reserves in many countries the folk interest in holding physical gold has continued to improve, adding gold in the international financial system and monetary system reform factors. In 2011, China's gold investment and consumption showed a strong growth momentum, jewelry, gold bars, gold coins, industrial and other gold reached 761 tons, ranking second in the world after India. In the next few years, the basic pattern of the gold in short supply in China will also exist.

3. Geological exploration results significantly. Countries, as well as gold enterprises to increase investment in geological exploration efforts for eight consecutive years of new proved reserves is greater than the production and consumption of resources reserves. As of 2010, China's gold proved reserves reached 6,865 tons, an increase of 50% compared to 2005.

4. Constantly optimize the industrial structure. Through the integration of resources, as well as mergers and reorganizations, the number of gold mining companies decreased from 1,211 in 2003 to about 700 in 2011, 51% of the gold production of the top 10 companies of the industry-wide, higher than in 2005 by 20 percentage points, industry concentration has improved significantly. At the same time, the product structure, the deep-processing products for the electronic, aerospace, petrochemical, automotive and other fields has begun to take shape.

Technology and equipment level has improved significantly. Biological oxidation, roasting of ore, tailings comprehensive utilization of resources, technology industry, part of the process and the indicators have reached the international advanced level, low-grade refractory gold resources gold recoveries from 30% to 70%, and exploration level continuously improve prospecting new method has been widely used. Large scrapers, gas reverse circulation drilling rig, electric hydraulic mining drilling machines and other energy-efficient equipment has been applied.

6 green mine construction success. Through technological progress and to increase investment in environmental protection, as well as the implementation of the system of the mine geological environment governance restore the margin, "three wastes" emissions compliance rate of the gold industry, the ecological environment in mining repair rate has gradually increased, large mining cyanide wastewater, industrial wastewater and domestic wastewater to achieve recycling. The first batch of 37 national green mines pilot units, gold accounted for 6.

(B) the presence of

Irrational industrial structure. In 2011, China's top ten gold Total gold production of 184 tons, the annual output of 240 tons of gold, compared with Canada's Barrick Gold Corporation, a huge gap. Our existing gold mining enterprises of more than 700 million two gold production enterprises accounted for about 70% of its total gold production accounted for only 15% of total production. The same time, the product structure is simple, some sophisticated deep-processed products still need to be imported. China's gold deep processing technology, equipment, product quality and brand building, compared with developed countries, there is still a wide gap.

Comprehensive utilization of resources is low. Enterprises are small, and the low level of technology, every production of 1 ton of gold consumed an average of 1.7 tons reserves, large-scale mines an average of 1.5 tons, and small mines up to two tons or more, serious waste of resources.

3. Ecological construction and environmental protection tasks are arduous. Due to the higher proportion of small gold companies, lack of investment in environmental protection, wastewater pollution, destruction of vegetation, geological disasters, the collapse of the tailings dam and mine environmental problems have occurred.

4 low level of resources and support. The limit on the number of years of gold production growth rate of proven gold reserves growth does not match, the protection of basic reserves available for mining. Basic reserves of China's gold over the years have been about 1900 tons, static protection life of only four years, larger than the gap with other major gold-producing countries, such as South Africa, 6000 tons, static protection of life of 12 years; Russia and Australia are in 5000 tons static protection of life of 15 years or so.

5 production safety situation is still grim. Gold mine safety foundation is weak, outdated equipment, low level of equipment to withstand the risk of accidents less capable; Second, part of the illegal mine closure resurgence Luancailanwa the; surrounding the illegal mining of large-scale mining, some even illegal mining of mine security pillar and remnant ore security risks.

Second, Situation

"During the 12th Five-Year" is the gold industry to accelerate the transformation of development mode, to strong critical period, China's gold industry is facing rare opportunities for development, is also facing some difficulties.

(A) gold financial property further show the strategic position has been consolidated. Since the outbreak of the international financial crisis in 2008 and the current debt crisis in Europe, the countries in the world to re-recognize that gold has an important role in any credit money can not be replaced. The profound impact of the international financial crisis continue to spread, hindered the recovery of the global economy, increased uncertainties and destabilizing factors, the world competing to increase its gold reserves from the national economic and strategic perspective, in order to protect their own financial security. In 2010, net purchases by central banks from 20 consecutive years of the gold net sales becomes.

(B) the demand for gold continues to grow, a huge space for industrial development. With gold hedging and liquidity, increasing the value of properties enhanced consumer demand, China's gold consumption in 2015 is expected to exceed 1000 tons, but only gold production is expected to reach 450 tons, to further expand the supply gap.

(C) poor domestic resource endowment, gold yield difficult. By the domestic gold reserves restrictions, as well as the common resources of our gold resources scattered, low grade, handling difficult, high-cost, low degree of exploration of deep resources and the surrounding resources, small-scale enterprises, the constraints of the output cost of domestic production significantly growth difficult.

(D) subject to various factors, corporate mergers and acquisitions difficult. Factors driven by the interests of the local protection, mine resource integration, corporate restructuring falter, small-scale gold rectify Close comprehensive utilization of resources low slow progress.

Third, the general idea

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Egypt Update

From AlJazeeraEnglish

President Mohamed Morsi has withdrawn the controversial decree expanding his powers but insists that the referendum on the draft constitution will go ahead. Al Jazeera's Sherine Tadros reports from Cairo.

Keiser Report: Hollywood Accounting

Your blogger managed to get some Australian content into this episode of the Keiser Report:

From RussiaToday

Published on Dec 8, 2012 In this episode, Max Keiser and Stacy Herbert look at how Hollywood accounting has turned the global financial system into one in which money and wealth melt like so much congealed snow. And so from Pontiac, Michigan to the Australian outback, zero percent interest rates and jobs that never materialize are the new normal. In the second half, Max Keiser talks to Matt Taibbi of Rolling Stone magazine about banksters who can't recall a single thing about their crimes, including everything from Libor rigging to defrauding monoline insurers.

David Morgan & Alan Butler talk Silver

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Carbon Tax update

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