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Work to complete disputed Dakota Access pipeline underway
CANNON BALL, N.D. (AP) — Construction of the Dakota Access pipeline under a North Dakota reservoir has begun and the full pipeline should be operational within three months, the developer of the long-delayed project said Thursday, even as American Indian activists vowed to fight in the courts to protect their water supply.
The Army granted Energy Transfer Partners formal permission Wednesday to lay pipe under Lake Oahe, clearing the way for completion of the 1,200-mile, $3.8 billion pipeline. ETP spokeswoman Vicki Granado confirmed early Thursday that construction resumed “immediately after receiving the easement.”
Workers had already drilled entry and exit holes for the crossing, and oil had been put in the pipeline leading up to the lake in anticipation of finishing the project.
“The estimate is 60 days to complete the drill and another 23 days to fill the line to Patoka,” Granado said, referring to the shipping point in Illinois that is the pipeline’s destination.
D’oh!
Bitcoin Plunges After Chinese Exchanges Suspend Bitcoin Withdrawals
Yesterday’s ominous closed-door meetings between the PBOC and bitcoin exchanges, appears to have had a dramatic effect, and as at least two Chinese bitcoin exchanges, Huobi and OKCoin, reported moments ago, all bitcoin withdrawals are now effectively suspended.
The result on bitcoin price was immediate and dramatic with bitcoin traded in China tumbling 7%.
FYI
Rick’s Pick for Thursday
Inflation Ahead? Yeah, Sure.
Posted Wednesday, February 8, at 10:58 p.m. EST
The inflation drumbeat has grown more insistent lately, stoked by Fed blather about raising rates to prevent the economy from overheating. Yeah, sure. I’m not buying any of it, particularly statistics that purport to show inflation even in Europe. An epic deflation still awaits and eventually will be triggered by the implosion of a largely uncollateralized, quadrillion dollar derivatives bubble. A further, irresistible catalyst will be the zeroing out of deferred, unpayable liabilities in our pension and healthcare systems. These deflationary black holes cannot be ‘monetized’ like the financial system, since they involve real cash sent to real recipients each month to pay for real services and real goods. More immediately, the bull cycle has peaked for residential and commercial real estate. If these factors add up to the return of inflation, then I am a monkey’s uncle. T-Bonds seem to know all of this, having risen sharply in recent weeks. Don’t be surprised if the trend continues.
Good Morning Oasis
Newstrike Resources Ltd. Enters into Agreement with HPI Holdings Ltd. to Complete Business Combination and Concurrent Financing Transactions
http://finance.yahoo.com/news/newstrike-resources-ltd-enters-agreement-211712178.html
Coeur Reports Fourth Quarter and Full-Year 2016 Results
http://finance.yahoo.com/news/coeur-reports-fourth-quarter-full-223200972.html
Rio Tinto considers exiting interest in Freeport Indonesia mine -The Australian
http://finance.yahoo.com/news/rio-tinto-considers-exiting-interest-063228313.html
Golden Dawn Minerals Inc. Consummates Gold Purchase Agreement With RIVI Capital LLC, Appoints New Director
http://finance.yahoo.com/news/golden-dawn-minerals-inc-consummates-080000892.html
Fortuna Completes Warrant Exercise for a 24% Stake in Medgold
http://finance.yahoo.com/news/fortuna-completes-warrant-exercise-24-083000730.html
Alamos Gold Closes US$250 Million Bought Deal Financing
http://finance.yahoo.com/news/alamos-gold-closes-us-250-131937618.html
goldielocks Farmboy
Danger of shorting Euro, because it is going to fall apart, which it will, is if weak Countries like Italy, Greece etc leave, which is what will most likely happen. What will remain is Germany and others/none…..and if Germany is last out, the Euro will become a new Deutschmark and be the strongest Currency on the board.
Farmboy 20:15
Thanks for posting Celente. I like listening to his charged videos. He’s right. The Euro is probably doomed as people have had it. You have a few people making it hell for everyone else. With that you could short Euro and go long dollar because it will drive it up not down as people get out of Eiro dollars. It will hurt market In exports. Their declining currency will help their exports but not the infkation the people will suffer.
As far as Trump not delivering he will. There is bipartisan agreement about infrastructure and the wall will be built. With that the Fed might have a excuse to raise interest rates. Business moving here may also see it and with Trumps lower tax plan will have motivation to move as least some of there business here. If there’s golbal chaos he better hurry up with the wall because everybody will be trying to get in including the Mid East as Europe goes broke or civil unrest, as well as some other countries. As it is now they’re trying to get into Canada from US next as they see people here don’t want the problems its brought to Europe nor terrorists, They need to end that war in Mid East and then assist in restoring it and helpimg people get back home. I can’t blame them for hating America and Europe in that they should of never went there in the first place. Plus Europe importing labor strategy is not working and causing more trouble than it’s worth. This isn’t about compassion. These elites are incapable as shown with all the crimes they cover up and Attack anyone as a racist for exposing it. If Theres global chaos we’ll need more than gold. Especially Europe. They better stalk up on food medicine and tangables.
FYI, the Silver:Gold Ratio is currently almost 70
According to my charts, based on cycles and history, the next important long term top will not occur until that ratio has dropped to 30. That means silver will out perform gold by a wide margin. When that top will occur is the question, but my best guess is May 2019. All FWIW and good luck to all from Silverngold.