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Dennis Gartman: I’m long gold in dollar-terms and will get longer if this happens

Scorpio

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Dennis Gartman: I’m long gold in dollar-terms and will get longer if this happens
Melissa Lee, CNBC, Released on 12/21/15

“What really had my interest was the CFTC reports that came out last week indicating that the commercials, as they’re called, who are normally enormously net short, are almost net long. The fact that commercials are effectively net long and the public is abundantly out — that is a reason to be abundantly in.”

VIDEO AT LINK:

Dennis Gartman has been publishing his daily commentary, The Gartman Letter, since 1987. Over the years, he has also conducted numerous presentations and courses on issues relating to the capital markets and derivatives for various brokerage firms, central banks, and U.S. government entities. In recent years, Mr. Gartman has been a frequent guest on leading financial television and radio networks. In addition, he contributed to the book Gold Trading Boot Camp: How to Master the Basics and Become a Successful Commodities Investor
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http://marketsanity.com/dennis-gart...ar-terms-and-will-get-longer-if-this-happens/
 

FunnyMoney

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Nice short video. Boiled down: he's sees a number of "bottom calling" sign posts in the technical and fundamentals. He's moving into gold with his own money and plans to move in more aggressively once we clear back through 1085.

I agree with that analysis from a technical perspective: A close significantly over 1085 would be a positive sign within this recent uptrend bouncing off 1050 that we're going through. My focus is on 1110 and my expectation is that we see that taken out in January with no further retest closes below 1073. I'm not expecting too much though in 2016 but more looking at the big up moves to come in 2017. JMHO, DYODD.
 

Buck

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Not being a skeptic but why does it seem any "crash" "adjustment" etc, is always two years out
Rarely will it be next - anything but it always seems to be "In a couple more..." years, months - sheesh

Heard this steady call since I re-started watching the markets in 2008 and all this time, ain't heard many get it right, once


Next year we'll begin to hear 2018

I do think I know better and am as prepared as I'll ever be, yet, come on, how's the economy hanging on with all this BS weighing it down and then everyone keeps saying "Just a few more years"

My pantry will need restocking by then, my gas will have run out and the water will need re-freshening

Can't we just do this now and get it over with?
 

Scorpio

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My pantry will need restocking by then, my gas will have run out and the water will need re-freshening
That is the darn truth for sure,

Can't we just do this now and get it over with?
They have been able to keep this thing going along, but it is how they have done it that bothers me. A intelligent guy would try to conclude that they cannot keep this up, yet they have.
 

FunnyMoney

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...

Can't we just do this now and get it over with?
There's a lot left that can be stolen. The middle class still contains millions of people world wide. TPTB are doing everything they can to postpone the reset or any kind of SHTF scenario until they've stolen as much as they feel relatively possible or "worth their trouble." This is because after a SHTF scenario, or a major fiat money collapse, workers will start bartering and using real money outside the banking system as much as they possibly can and for TPTB, this will then set them back decades in terms of their easy thievery.

"In the know" members understand that a sudden "get it over with" arrival is preferable to the "frog slowly boiled" status quo which we live under today and just like you, would rather have it occur sooner than later. However, the TPTB can keep kicking the can down the road for a lot longer. My expectation is that they get tired of the diminishing returns on this "kicking" process sometime later next decade and that is when things will get really heated. Gold and many other assets should anticipate the coming changes and begin a new march toward full valuation well prior to then.
 
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Uglytruth

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There's a lot left that can be stolen. The middle class still contains millions of people world wide. TPTB are doing everything they can to postpone the reset or any kind of SHTF scenario until they've stolen as much as they feel relatively possible or "worth their trouble." This is because after a SHTF scenario, or a major fiat money collapse, workers will start bartering and using real money outside the banking system as much as they possibly can and for TPTB, this will then set them back decades in terms of their easy thievery.
I go to Chicago once a month to a very nice neighborhood. Ferrari, BMW, Mercedes, Land Rover, dealers are all in the area.......... but the one thing I see growing as closed businesses start to spring up is a high end pawn shop / we buy watches, gold, silver type of shop. Seems the upper middle class or even lower upper class is starting to feel the pinch and trying to maintain the charade.

I said something to a friend a few weeks back. I said take you for instance & he was caught off guard a little. We both know what you made pre 2007...... and you are making less than half that now right? Yep your right. Then I said but look at yourself like your neighbors are looking at you. Same house, new BMW, eat out often........ do you think any of them know that your income is less than half of what it was? He said no. It would appear to anyone that he is doing fine. He's not starving but don't do what he used to do.
 

earplugs

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They are a bit more sophisticated now. They don't pummel everything all at one time. And scare everyine. Rather, it seems they rotate sectors like a farmer rotates crops. If you look at the dow since last summer after the bump downward, dow it has relatively stayed the same. Otoh, majority of companies have corrected, so the illusion seems like it's all normal.

You also get larger cycles. Late 90 was dot com, after that was commodities, and then biotech. Anyone know what's next?
 

Buck

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Another thing I've noticed are the Progressives, as of late, seem bound and determined to have any "fundamental transformation" occur while they are still alive

Like they are reaching for the brass ring prematurely

Years past, they would push their agenda forward for their "heir apparent" to benefit from but not anymore
 

FunnyMoney

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I go to Chicago once a month to a very nice neighborhood. Ferrari, BMW, Mercedes, Land Rover, dealers are all in the area.......... but the one thing I see growing as closed businesses start to spring up is a high end pawn shop / we buy watches, gold, silver type of shop. Seems the upper middle class or even lower upper class is starting to feel the pinch and trying to maintain the charade.

I said something to a friend a few weeks back. I said take you for instance & he was caught off guard a little. We both know what you made pre 2007...... and you are making less than half that now right? Yep your right. Then I said but look at yourself like your neighbors are looking at you. Same house, new BMW, eat out often........ do you think any of them know that your income is less than half of what it was? He said no. It would appear to anyone that he is doing fine. He's not starving but don't do what he used to do.
I've also noticed those high end pawn shops, it seems they're popping up in a lot of places. I went into one recently and there were 3 employees and not a single customer looking. I think when somebody shows up to sell something they're probably in and out of there pretty quick.

These high end pawn and "we buy gold" shops are also turning up internationally and have been for about the last 10 years. This is the economy in "cannibalistic" mode. Globally, everything is now running on fumes and feeding upon itself. Stock buy-backs using borrowed money is another example. The really big money seems to be in fewer and fewer sectors. The military supply chain and military innovation sectors seem to be strong though.

These are all likely signs of a disaster on the horizon. Yet things are moving so slowly that the storm is likely still many years, even decades away. Not sure if I'll even be alive to see it. I don't think the final financial destruction, that which will destroy most paper products and paper money as well, comes alone. I think that it has to come in tandem with a really big war, much bigger than the regional fire fights we see currently.