Home > Dennis Gartman Is A Fraud—In Yen Terms (GLD, SLV, IAU, UGL, UUP, AGQ)

Dennis Gartman Is A Fraud—In Yen Terms (GLD, SLV, IAU, UGL, UUP, AGQ)

April 12th, 2012

Dominique de Kevelioc de Bailleul:  In his typical pompous, weak-chinned facade, alleged gold expert Dennis Gartman has declared that the decade-long bull market in gold is dead—again—and again.  He penned in his newsletter, Gartman Letter:

“ . . . in retrospect it does appear that gold has not been in a bull market but has indeed been in a bear market” since peaking at $1,920 in August 2011. Get my next ALERT 100% FREE

“Since then,” he continued “each new interim low has been lower and each new interim high has followed. How, we ask, had we missed that fact!”

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Apparently, Gartman misses a lot of facts, but he doesn’t miss an appearance on CNBC to drum up more suckers to his newsletter.  He figures since investors don’t bother with due diligence on stock recommendations, they won’t research Gartman’s most-abysmal track record either.  See chart, below.

In keeping with the CNBC’s Steve Liesman cadre of phony economic theorists and Fed sycophants, Gartman reminds his fellow bourgeoisie that he should never be mistaken for a dreaded gold bug proletariat, nor should anyone even think for a moment that he could actually be a closet ‘prepper.’

“I don’t like being long of gold. I don’t like the gold bugs,” he said, affirming his allegiance to CNBC producers.  “I’m not a believer that the world is coming to an end.”

“Nonetheless the trend in gold in all sorts of currencies, whether in dollar terms, euro terms, yen terms, has been…from the lower left to the upper right,” he stated, contradicting his previous assessment that gold’s chart pattern indicates a bear market in the precious metal.

Gartman, a gold bug?  No.  Mr. Gartman is a sophisticated man, with all of his teeth and education to prove he is no rube who owns at least a shotgun.  Moreover, he sports a beard to match Bernanke’s and Krugman’s—the Smith Brothers trio of the Church of Keynes.

“They genuflect in gold’s direction; we merely acknowledge that it exists as a trading vehicle and nothing more. There are times to be bullish, and times to be bearish … to every season, as Ecclesiastes tells us,” stated Gartman.

However, Gartman neglected to quote Deuteronomy, Genesis and Revelations, all of which tell us that he is as full of bull as Bernanke and Krugman are.

Deuteronomy 23:19  Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury.

Genesis 2:12 And the gold of that land is good: there is bdellium and the onyx stone.

Rev 3:18 I counsel thee to buy of me gold tried in the fire, that thou mayest be rich; and white raiment, that thou mayest be clothed, and that the shame of thy nakedness do not appear; and anoint thine eyes with eyesalve, that thou mayest see.

Ultimately, when the dollar collapses and gold can’t be pried loose from the public at $5,000 per ounce (400,000, in yen terms), Gartman can be expected to start quoting Romans 13 in his newsletter.

Related: SPDR Gold Trust (NYSEARCA:GLD), iShares Silver Trust (NYSEARCA:SLV), iShares Silver Trust (NYSEARCA:IAU), ProShares Ultra Silver (NYSEARCA:AGQ), ProShares Ultra Gold (NYSEARCA:UGL), Powershares Bullish Dollar ETF (NYSEARCA:UUP).

By Dominique de Kevelioc de Bailleul From Beacon Equity Research

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap  stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street.  We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.



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  1. Paul Sheldon Foote
    June 6th, 2012 at 22:01 | #1

    Instead of criticizing weak technical or fundamental analyses offered by some traders, I would like to see someone address the more important issue of the extent of market manipulation. See, for example, “Collapse At Hand” by Paul Craig Roberts:

  2. Irwin
    April 20th, 2012 at 14:05 | #2

    Romans 13 – I had to look it up.

    “Submission to Governing Authorities”

  3. James
    April 12th, 2012 at 16:26 | #3

    I tend to agree with your sentiments.

    Liesman is the worst when it comes to licking the boot of the Fed. He literally worships the Institution. The guy makes me absolutely SICK with his histrionics.

    And then you have Gary Kaminsky savaging Meredith Whitney because she has had the temerity to point out that Muni investors should be careful…….DUH!?? (what planet is he on? …yeah, she might be a little ahead of the game but this ticket has already been punched, friends….we got munis issuing bonds to pay pensions that are already underfunded by 40%!)……

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