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Dennis Gartman Is Short Of Power In Control Terms
It's lights-out for the world-renowned Dennis Gartman...
WE ARE IN DALLAS AND WE HAD A POWER FAILURE!!!
We are in Dallas this morning to speak before the Dallas Security Trader’s Association dinner this evening.
However, the Four Seasons Hotel has had a massive power failure and has caused us some very real problems, so TGL is not as we would wish it to be.
We have covered what we can and we are transmitting as we are able... the first time in our history even when brought low by hurricanes and the like. This was a problem far beyond our control.
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We can only assume that there are zombies roaming loose in Dallas as every Starbucks and McDonalds (with their free wifi and electricity outlets) were also dark... but then again, it is scary to venture from the confines of The Four Seasons
However, the world-renowned writer of things did have enough power to pen this drivel...
...make no mistake about it: the ECB has become expansionary and this is but the first step in its doing so.
Just as few, other than we, thought that the Fed would have QE 2 and QE 3 following the first round of QE, we suspect that few will argue that this first round of QE on the part of the ECB shall result in larger and more such operations in the future, but we do and we are.
That is what is important to understand here beyond minutia: this is the first shot across the monetary bow in Europe by the ECB and it shall not be the last.
Remember this statement in the days, weeks, months and perhaps even the years ahead. The ECB has, in the most common language, lost its monetary virginity and once lost it cannot ever be regained.
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So ignore negative rates, forget asset encumberance, dismiss transmission channels, and totally dump on any actual treaties - moar is coming from the ECB for sure apparently - just as everyoine has been waiting for the BoJ all year as their economy collapses... simply put the JGB market is entirely broken and the EGB market is heading rapidly in that direction... and central banks know it.
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Perhaps Mises Canada's Patrick Barron can help...
From Open Europe news summary of September 5, 2014:
ECB surprises markets with rate cut and purchases of private assets;
Ruparel: Pressure rises on eurozone governments as ECB nears end of its policy tools
The ECB yesterday surprised markets by cutting interest rates and announcing a programme to purchase private sector assets, in the form of asset-backed securities and covered bonds. In his press conference, ECB President Mario Draghi said that the decision was not unanimous, with reports suggesting Bundesbank President Jens Weidmann was opposed. Draghi reiterated his call for flexibility in fiscal policy across the eurozone, but warned that structural reforms must come first. In response to the move, the euro hit its lowest level for 14 months and equity markets across Europe hit their highest point for six years.
Here is a direct quote from the Maastricht Treaty:
ARTICLE 104
1. Overdraft facilities or any other type of credit facility with the ECB or with the central banks of the Member States (hereinafter referred to as ‘national central banks’) in favour of Community institutions or bodies, central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of Member States shall be prohibited, as shall the purchase directly from them by the ECB or national central banks of debt instruments.
It is clear that the Maastricht Treaty, which created the European Central Bank, has been abrogated. It appears that Herr Weidmann, as president of the Bundesbank, opposes the ECB’s action, but what will he and the German government do? Will the Germans accept as legitimate what can only be described as an illegal action? The fate of the rule of law in Europe now rests in German hands.
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Dennis is speaking? yawn
Wish a random piano would fall from the sky onto that idiot. Just a classic fucking piano from no where.
I'd settle for just an anvil...
"In the dark." When the literal and figurative combine into one sweet spot.
Dennis Gartman is shocked that when the power goes out, things stop working. That's why he makes more than you do.
"The World according to Gar[p*]tman"
*Hat-tip given to Robin Williams R.I.P.
I would think it would be more interesting to see Dennis Gartman shocked when the power goes on.
That was a pun. Everyone knows he is customarily long in shock in reasoning terms, short in shock in electricity terms.
"In the dark." When its always nice to be Sean. :)
Acme gun safe.
Filled with Treasuries.
And copies of his newsletter.
"the rule of law" - what a quaint idea, hmm? The rule of law is currently what the bankstas say it is, you know like FASB's "mark to whatever you want" ruling, and O-golf-a's executive orders..
Gartman and his ilk profit from the LACK of the rule of law, not in spite of it, not because of it but because he is connected to the grifters.
I'd like to be long that piano, in black swan terms.
Short of genitalia as well.
Things like that happen when traders cut his nuts off every time he takes a position.
Better that he remain silent and be thought a fool, than to speak and remove all doubt.
Dennis who?
Dennis 'Copper will never trade above $4/lb in my lifetime' Gartman.
Dennis who?
He's long electric in terms of AC and short Electric in DC douche
The Chode strikes again. Steers and Queers Gartman and you don't look like much of a Steer so that pretty much narrows it down doesnt it?
.
Quit selling anything. Eat your vegetables Greeks and Italians. Ride in your BMWs and Mercedes Germans. Celebrate not working EU dudes. Draghi's goin to print you up a bundle. And Yellen's goin up my FAFSA.
It's lights-out for the world-renowned Dennis Gartman
That news is several years old.
Unluckily, we will never run out of assholes.
Well, here in Belgium, our government sold our nuclear powerplants to the private sector a decade ago.
There has been no maintenance on these reactors and most of them had to be shut down because of cracks in the vessels.
So...
This summer, every house will be cut off 3 hours a day to safe electricity.
That's a fact.
And we pay the highest prices for our electricity also...
I'd like to rest my "fate" in the soft german hands of Heidi Klum...
Just remember, no matter how hot the chick, somewhere out there is a guy sick of banging her. I'd like to be that guy.
So you want to be Seal? Or maybe Heidi's body guard?
http://bossip.com/915039/she-want-that-old-thang-back-heidi-klum-rumored...
"The fate of the rule of law in Europe now rests in German hands."
Let's see if I have this correctly. All the world's major central banks pretty much work in tandem with each other with a few detours allowed when the locals get restless and put up a fuss. This includes Russia of course.
Germany has been resisting allowing the ECB to print money because it is a treaty violation....at least that's the excuse. It seems they had the most to lose from an 'unsound' ECB money policy. But with Russia acting up and all those sanctions against Russia beating Germany to hell maybe....just maybe..... with Germany becoming weaker they might not put up too much of a fuss about breaking some silly little treaty.
It almost looks like it was all planned.
I'm going with Germany to fold for $1000 Alex.
"I'm going with Germany to fold for $1000 Alex." I'll see your $1000 and raise you everything. I'm all in.
He must be long utes?
hold on... if Gartman isn't declaring what his position is, how can I do the opposite right now?
Well since he has declared himself in the dark, you can start by turning on a light.
Gartman should get short the level of dopamine one produces when viewing his fat mugg on TV and long the level of expansion in his waistline. Could also buy covered calls for his ROI with a strike price just above +0.00% because it damn sure ain't going positive and calling him out of those.
*sell covered calls oops
Often Wrong; Never in Doubt,
in Gartman terms.
Who cares about laws when smart people are saving the world from idiots. paraphrasing Paul Krugmen.
Actually, everybody but me is an idiot, so it is only I saving the world as long as the idiots do what I tell them... channelling what Paul Krugman really believes.
"simply put the JGB market is entirely broken and the EGB market is heading rapidly in that direction"
Okay now someone tell me how is that supposed to work out. I mean really work, no hand-waving or talk about the NWO Illuminati or TBTF or something else that allows us to pretend They have it all under control. I just want a clear answer how that is supposed to work out in the real brick-n-mortar world of real things that real people care about.
1) Japan is supposed to run a rational government policy with balanced budget and proper accounting rules.
2) If they don't do that, and they haven't for over 20 years, they are supposed to get in shit.
The wise boys have been expecting this for years and it looks like it is finally happening, maybe, unless they pull another fast one.
Must just be the hotel or that local area. I haven't noticed anything.
probably just the circuit in the room his dildo charging on.
massive power failure... massive? wtf?
It is clear that the Maastricht Treaty, which created the European Central Bank, has been abrogated.
Not that I gave a rat's ass about the Maastricht treaty (I couldn't stomach it for the life of me) but it doesn't seem like this shit-ass treaty has been abrogated - yet. The politically correct ECB illuminati are not buying government or publically issued bonds. Hence they are still within the founding treaty norms. Virginty gets lost in stages (hint: first with manual application).
I guess their multiple billion dollar renewable fraud didn't work out?
Four seasons? Nice? How many are on "expense" accounts? Not the cost to attend the dinner "event" tonight. The "performance" of their investments .. mostly not their own money.
Is there ANYWHERE a chart of what DG has done for his subscribers short, medium, or long term? Or is it all measured what he says on cnbS because it is their specialty?
But, I enjoy DG when I see him by accident, same as the Flintstones who subscribe to his "newBS"letter .. later!
Germans should get the fuck out of the EU and Euro and team up with Russia, China, India, Brazil, and Indonesia, etc.
I have no idea why they stay.
Blame Enron...