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Cyprus updates[

Telegraph]

CYPRUS: Prostestors rip down German flag at embassy

EXTRA: Cyprus protester rips down German flag at embassy Europe18.03.2013

"Nicosia (dpa) - An angry demonstrator in Cyprus on Monday ripped the German flag off its staff at the embassy in Nicosia and threw it onto the street, witnesses said. The man had emerged from among a crowd of about 400 protesters against new bank deposit levies demanded by international creditors as part of a bailout package. The protesters, carrying placards that read "No democracy," blamed Germany, the biggest EU economy and main paymaster, for the demand. A police officer picked up the flag and took it into the embassy. No diplomatic staff could be reached by phone. The demonstrators had first rallied outside parliament, where politicians were discussing the controversial measure, then moved to the presidential palace and the nearby embassy."

Korea accumulating gold

The central banks of South Korea, Russia and Kazakhstan have all reported additions to their gold reserves this year, continuing the trend of central bank gold buying. Data for January show that Russia and Kazakhstan have each increased gold purchases for the fourth consecutive month. The Bank of Korea issued a statement saying that it has purchased 20 metric tons of gold - more than 643,000 troy ounces - during February, increasing its gold reserves by 24% to 104.4 metric tons.

CYPRUS BANK HOLIDAY

CYPRUS BANK DEPOSITS USED FOR BAILOUT

Cypriots rush to banks in wake of bailout levy

Depositors money used for bank bailout

Following a bank holiday in the country on Monday, March 18, the levy on bank deposits will come into force on Tuesday, March 19. The Cypriot government will take steps to prevent electronic money transfers over the weekend, in order to stop depositors attempting to avoid the curbs.

JIM WILLIE: RAGING GOLD BULL & DISPUTED PROPAGANDA

Gold moving east:

"The new Gold Trade Finance system is coming into view. The Iran sanctions galvanized the development of alternative methods for non-USDollar trade settlement among Eastern nations. Iran has many trade partners, a situation that has remained firm for a few thousand years. As Turkey and India continue to step forward as gold intermediary agents, with banks and commercial entities providing the service, watch the Gold Trade flourish. Their channels could very likely converge with the numerous Chinese Yuan Swap facilities in place, which started the non-US$ trade practice years ago. Gold will sit at the core (along with Silver and Platinum) in the gold trade notes and settlement system."

Purchasing power history of US Dollar

Chavez

Argentina declares three-day national mourning upon Chávez's death

Venezuela Stable after Chavez's Death, Election to be Called within 30 Days

"The situation in Venezuela remained stable Tuesday following the death of President Hugo Chavez though his grieving supporters took to the streets, chanting slogans in memory of the socialist leader. Earlier in the day, Vice President Nicolas Maduro, accompanied by key members of cabinet, announced the death of Chavez, who had battled with cancer for almost two years. Maduro referred to the leader's death as a "historical tragedy" and called on Venezuelans to be vigilant for the peace of the country. "

Bulgaria protests, too

"Waves of protests swept Bulgarian cities again on Sunday, as tens of thousands took to the streets despite the government’s resignation. Bulgarians demanded the ‘mafia’ to leave, but it wasn’t clear who could unite them as the country’s new leader. Anti-government slogans and demands to end monopoly powers were again in evidence on the streets of Bulgaria following the government’s failed attempts to negotiate with the public and its eventual resignation last Wednesday. Bulgarian cities of Sofia, Plovdiv, Burgas, Blagoevgrad, Ruse, Sliven and Varna saw crowds of people protesting against the corruption, poverty and high energy prices that consume their wages. The largest demonstration took place in the Black Sea city of Varna, with about 50,000 people taking part, according to the local media."

Portugal protest against austerity

Hundreds of thousands march against austerity in Portugal AFP-"Hundreds of thousands of people took to the streets of Lisbon and other Portuguese cities Saturday to protest against the government's austerity measures aimed at rescuing the debt-hit eurozone nation. The rallies were organised by a non-political movement which claimed 500,000 marched in the country's capital and another 400,000 in the main northern city of Porto. There have been no official estimates of the crowds. But the mood of the crowd was clearly political, calling for new elections with banners declaring "Portugal to the polls!" and "If you fall asleep in a democracy, you wake up in a dictatorship"."

California gasoline tax to increase 3.5 cents on 1 July

The state Board of Equalization voted three to two on Thursday to increase the excise tax on gasoline 9.7 percentto 39.5 cents a gallon from 36 cents on July 1.