Thursday, November 17, 2011

Breaking: Ann Retires UPDATED

Ann Barnhardt announces today:

Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,

It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations.
I will not, under any circumstance, consider reforming and re-opening Barnhardt Capital Management, or any other iteration of a brokerage business, until Barack Obama has been removed from office AND the government of the United States has been sufficiently reformed and repopulated so as to engender my total and complete confidence in the government, its adherence to and enforcement of the rule of law, and in its competent and just regulatory oversight of any commodities markets that may reform. So long as the government remains criminal, it would serve no purpose whatsoever to attempt to rebuild the futures industry or my firm, because in a lawless environment, the same thievery and fraud would simply happen again, and the criminals would go unpunished, sheltered by the criminal oligarchy.

Ann is a leader and harbinger in business and politics, and today's retirement should send a very clear message.

We worry about Ann. Her recent pledge to not pay taxes, combined with today's retirement, suggest tough times ahead for her.

No doubt she can handle new challenges, but others now depend on her for guidance. Whether she wants it or not, she holds an informal leadership position among us militant conservatives.

If one is looking for yet another reason to vote for a conservative next year, here it is. We want to see Ann go back to her commodities trading. Ann in the game means safe trading and the rule of law restored.


Ann once pointed to Market-Ticker, which we go to from time to time to get another perspective of economic issues.

Karl Denninger comments on Ann's retirement and adds a South Park clip for good measure:

Nothing that has come out of the CME, the SEC or Washington DC that has restored my confidence that MF Global is, in fact, a one-off situation. In point of fact The Fed is now requiring margin on certain repo transactions where they never did before, implying that there may well be additional snakes in the grass and additional unrecognized and intentionally hidden risks of this sort.

Read Ann's entire missive. Yes, it's highly partisan, but given what has just happened and Obama's continued insistence that "no crimes were committed" (yet no grand juries have been convened to investigate, so how would he know?) it is entirely justified.

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