Gartman: 'Oil Heading Egregiously Lower'; Saudi Oil Reserves Will Be 'Worthless'

Content originally published at iBankCoin.com

Normally, I don"t hone in on a particular talking head, unless of course said talking head is especially egregious. Enter Dennis Gartman, the self-proclaimed "Commodity King."

In the clip below, Dennis ceded to the possibility that oil might bounce a little here -- perhaps as much as $5 -- a mere charitable donation to the fuckheads surviving off oil barrel sales. But over the long run, Gartman proclaimed "oil us heading egregiously lower."

Several years ago, I recall Dennis saying oil was heading down to a nickel -- because MUH fusion energy would replace oil. What in the actual fuck is he talking about?

Now that oil is weak again, this guy is entirely detaching from reality, pretending his car doesn"t run on oil, or his planes, or the fact that oil is used to produce a sundry of goods sold in the grocery store, particularly plastics. Now oil is heading "egregiously lower" and there"s nothing you little trollops could do about it. See, we won the war, said Gartman. The Saudi oil reserves will be "worthless" and our frackers have succeeded in becoming the "swing producer."

In summary, oil will be worthless soon. The hundreds of billions of debt associated with oil is nothing, discarded as a pittance, and the dissolution of oil is a "white swan" to the overall economy.

See it for yourselves.