Traders Take The Higher Road

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(Kitco News) – Metals broke out of the holding pattern on Thursday, as traders are becoming less worried that the Fed may move in March. The dollar softened and gold broke up through resistance at $1,245, where it had struggled on three occasions over the past two weeks. Silver also hit our $18.25 target suggested about 10 days ago. President Trump’s fiscal plans may include a border adjustment tax, which will be necessary to offset the proposed tax cut. So if you can’t buy it in the US, you’ll pay 25% more from a foreign supplier, which would neutralize your tax cut. American workers will make a minimum wage of $15/hour and a large chunk of imports are from counties where the minimum wage is a fraction of that. The math so far doesn’t make sense, but let’s wait and see what the package looks like. The prospect should be higher inflation at a minimum and with the Fed likely behind the curve, gold is getting a further look by fund managers. I am about to board a flight back from Hong Kong, so I am literally flying by the seat of my pants with a suggested price range today. If gold can gain some momentum and maintain above the $1,255 level, further price action suggests a test of the $1,268 line. Silver’s next resistance line appears around the $18.65 area.”

Yup shares shud take out the 25.00 strike on GDX easily….but scum/granters will fight like hell to stop it.

What intrigues me is not only do the granters sell seemingly without limit, they never cover either…..so somewhere is a bottom drawer with a mountainous short position in it…or do the scum just take it off them and then it disappears into the scum account, which seemingly no-one margins, let alone settles.

Agree. We’re back on the stairs up in the metals and they look strong despite the USD not down much – good action. Unfortunately, they are pinning the shares down for now. We still have that HUI 200 dma up around 220, and the scum seems hell bent on defending it.

I doubt if we keep climbing they’ll be able to do it for long. That’s the hope anyway.

I expect Farmboy to show up any minute with an update from Kitco to let us know why we’re up today.

but watch the PM stocks today. And this will be the rig exposed, if they just sit there. In reality the cabal just needs to wait out all the old timers that understand its value and its relationships with the free markets. People my age are so completely numb they have no concerns or cares and think this stuff is all BS. Gold whaaaaa? So if they can just keep the stocks disconnected and beat all of the shareholders to death, who would buy this stuff? This is why Autozone, Chipotle and all of the fake stocks are in the hundreds and why ABX, GG, and NEM are like fat jabba the hutts pinned on the wrestling mat in a fight for their lives. It’s been 6 long years, these people that are on the other side of the trade are spooky clowns

and dragging the reluctant miners along for the ride. Maybe a pair of blinders would help?

silver and gold both getting a nice little pop on the night shift.  18.27, 1254.50  and running.

Christine Lagarde: IMF chief convicted over payout

A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment.

As French finance minister in 2008, she approved an award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm.

Ms Lagarde, who always denied wrongdoing, was not present in court, having left Paris for Washington DC.

The IMF board said it retained “full confidence” in her leadership.

She said she would not appeal against the ruling: “There’s a point in time when one has to just stop, turn the page and move on and continue to work with those who have put their trust in me.”

The French government also confirmed its confidence in Ms Lagarde, who was reappointed to a five-year term at the IMF in February.

On Friday, she told the trial she had always acted in good faith and the suspicion she had lived under for the past five years had been an “ordeal”.

• Profile: IMF chief Christine Lagarde
• Why was Lagarde put on trial?

Cases at the Court of Justice of the Republic (CJR) may not be retried but can be appealed against on grounds of procedural errors.

Ms Lagarde’s lawyer said his team would consider appealing, Reuters reported.

‘Complicated and strange’

Ms Lagarde, 60, was tried on charges of “negligence by a person in position of public authority”.

Accused of allowing the misuse of public funds, rather than actual corruption, she could potentially have been sentenced to a year in prison and a fine of €15,000, but escaped a sentence and emerges from the trial without a criminal record.

Explaining the verdict, which took many by surprise, Judge Martine Ract Madoux said: “The context of the global financial crisis in which Madame Lagarde found herself in should be taken into account.”

Ex-IMF chief Rodrigo Rato gets 4.5 years for embezzlement

Former IMF chief Rodrigo Rato has been sentenced to four-and-a-half years in jail for embezzling money from two Spanish banks he used to run.

A court in Madrid found him and more than 60 other former bankers guilty of using undeclared corporate credit cards to finance lavish lifestyles.

About €12m (£10.1m; $12.7m) was spent from Caja Madrid and Bankia in 2003-12. Rato, 67, had denied any wrongdoing.

Bankia was rescued in 2012 at huge public expense.

About 200,000 small-scale savers – who had been persuaded to convert their savings into shares before Bankia’s flotation in 2011 – lost their money.

During the trial, Rato argued that the corporate credit cards were part of his pay package.

All the card purchases during that period were not declared to the tax authorities.

Rato resigned as head of Bankia shortly before its near-collapse in 2012.

He led the International Monetary Fund in 2004-07. Before that he served as Spain’s economy minister.

You can keep San Jose.  I’ll take the California Beach Train
http://www.railpictures.net/photo/604330/

Guess I did??? I could pick up a lot of languages but Alien wasn’t one of them. So I’ll let you down every time.:(

Now a far as zebra babies go…

Yes Doris, she passed away after battling cancer. She said her doctir had it under control but .. She tried to give me a signed picture but her daughter said some fan took it from her before she could get it to me. Her grandaughter is a mom and partime model now. I was with her when she had her baby with her family because she was young but did fine. Her other was white and her baby boy was white. They said well maybe he’ll darken up later lol I said he’s healthy all that matters. Her dad seperates Doris son was into music too some group played rap. I didn’t like rap lol

That brings back memories too. My youngest daughter around nine back in the 90s in Sacramento suburbs became best friends with this pretty little afro American and Spanish girl. She like my daughter was into music. A few years later as they stayed over night back and forth she wanted to stay over and go with her friend to a concert. I said who’s playing? The girl.. Keeping her name out of it. Said my grandma. What’s her last name ? Jackson. They went and they both got pointed out by grandma on stage.

https://www.youtube.com/watch?v=oKgkDxnG9Z8&sns=em

Speaking of SJ sharks, I have a friend from Sac who says watch out for great whites coming further up the channel from the Bay with this high water.

Me, I’m trying to get to San Jose Costa Rica (two oceans be damned), as I am afraid of sharks. And yet I trade gold stocks…