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Jim Myrtle

Jim Myrtle
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  • Bernanke: We Must Be 'Humble' [View article]
    The Fed bought guaranteed bonds.
    Treasuries and agencies.
    Jun 29, 2012. 10:31 AM | 1 Like Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    I'd have more fun if you actually posted your proof.
    I guess I'll be disappointed......

    "No rational person will claim that there was no purchase of toxic loans by the government from the banks"

    There was no purchase of toxic loans by the government from the banks.
    Jun 29, 2012. 08:46 AM | 2 Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "The key point is that the whole portfolio is marked-to-fantasy, so we really know what the underlying value is, if it is going down or up"

    The Fed's portfolio is marked to fantasy? LOL!
    They've been buying guaranteed bonds for years, as rates have steadily declined. You imagine they have unrealized losses? LOL!
    That's funny, even for you.

    "No rational person will claim that there was no purchase of toxic loans by the government from the banks"

    Which toxic loans? Spell it out.

    It's been nearly 2 months since you made your claim.
    You need a couple more months to post your proof?
    Jun 28, 2012. 02:50 PM | Likes Like |Link to Comment
  • The U.S. Banking System: Weak, Yet Still Supplying Europe [View article]
    "The FED is not a government agency but a private cartel of bankers"

    Than why do they turn over much, much more to the Treasury than to the "private owners"?
    Jun 25, 2012. 02:20 AM | 2 Likes Like |Link to Comment
  • The U.S. Banking System: Weak, Yet Still Supplying Europe [View article]
    " Not to worry, the FED has been supplying them with fresh supplies of funny money at zero interest"

    Zero interest?
    You must be confused. Borrowings at the discount window currently cost 0.75%. You think they're borrowing a lot at 0.75%?

    "Sounds like a pretty good deal, huh?"

    Hey, don't bogart that joint.
    Jun 24, 2012. 06:57 PM | Likes Like |Link to Comment
  • The U.S. Banking System: Weak, Yet Still Supplying Europe [View article]
    "All the large banks are essentially bankrupt without taxpayer support."

    How are they currently supported by the taxpayer?
    What is your definition of bankrupt?

    "The real crime is they are all walking around after blowing a $16 Trillion hole in our collective balance sheet"

    Banks did that? Or was it the politicians that you want to take over?

    "How can we trade as rational people when the morons create new irrational unsustainable environments almost every day?"

    I agree, our politicians need to stop.
    Jun 24, 2012. 03:23 PM | 3 Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "If Davidoff is referring only to the Fed’s $79.3 billion “earnings,” without any regard for the denominator that produced those earnings, he is absolutely correct."

    I'm sure that's what he meant. You don't think a typical, liberal, NYT writer is going to be subtle in his thinking, do you?

    "Or maybe Davidoff was thinking of a denominator somewhere between zero and $3 trillion. Maybe he had $676 million in mind, which is the actual amount of money the Fed spent last year printing new dollar bills. In this scenario, the Fed’s result would have been a spectacular 117.3%. That’s not quite infinity percent, but it’s not bad."

    $79.3 billion/$676 million = 117.3

    That's a return of 11730.76%. Not quite infinity, but better than any hedge fund I'm aware of.
    Jun 24, 2012. 12:57 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "I'm getting there, Jim. Be patient."

    Still getting there? LOL!
    Jun 22, 2012. 09:13 AM | Likes Like |Link to Comment
  • Alternatives To The Spanish Bank Bailout [View article]
    "5) HOW ELSE do you explain that countries that have even worse public finances but do have a lender of last resort and are not joined in a currency union (so that capital can flee without exchange rate risk) HAVE RECORD LOW INTEREST RATES (US, UK, Japan) while the likes of Spain have to pay 7%+.. "

    You left out Zimbabwe.
    Jun 19, 2012. 12:34 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    Maybe he was correcting someone else's silly errors?

    If his corrections of your's are wrong, show him.
    May 30, 2012. 10:10 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "The entire carry trade of interest rate swaps is the main engine of bank bailouts engineered by the Fed working with TBTF banks"

    Huh?
    The Fed is doing swaps with the banks? Where? For what purpose?
    How is a swap a carry trade?
    Why would the Fed do interest rate swaps with anyone?
    It sounds like you're confused.
    May 30, 2012. 07:12 PM | Likes Like |Link to Comment
  • Why I Am Short Gold: 5 Reasons [View article]
    "Look at the decade trend, not month by month"

    Oh, so if gold continues to go down, it doesn't count until it drops below the June 2002 price?

    "...not what happened in the last 8 months."

    My mistake. When you said "The US dollar merely has to continue losing value at the current rate", I didn't realize there were so many caveats.
    May 29, 2012. 07:45 PM | 3 Likes Like |Link to Comment
  • Why I Am Short Gold: 5 Reasons [View article]
    "The US dollar merely has to continue losing value at the current rate, and gold will continue to prove its utility"

    Exactly! The dollar has declined in the last 8 months by 16%........
    Oh, wait, that was gold.
    May 28, 2012. 11:04 PM | 2 Likes Like |Link to Comment
  • Why I Am Short Gold: 5 Reasons [View article]
    "Does anyone remember when gold was $800 and so many were saying it was too expensive to buy at that level and gave many of the reasons in these posts as to why owning gold was a mistake?"

    I do! And then Reagan was elected and gold eventually drifted down below $300. Good times.
    May 25, 2012. 10:41 PM | 2 Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    You made the claim a week ago.
    Thanks for the info about Ireland.
    I thought we were talking about America?
    Do you need another week?
    May 15, 2012. 08:50 PM | Likes Like |Link to Comment
COMMENTS STATS
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