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Jim Myrtle

Jim Myrtle
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  • First Steps Toward A European Banking Union [View article]
    "I don't smoke or drink, Jim."

    Trying to find the reason you're unable to provide proof for your claim.

    "Defend the status quo to the death! Defend the thieves!"

    Build a new strawman, it's easier than admitting you were wrong.
    Jul 1, 2012. 01:42 PM | Likes Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    Don't let that strawman tip over and squish you....
    Jun 30, 2012. 04:27 PM | Likes Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    Any luck with your junk claim?
    Too busy smoking?
    Jun 30, 2012. 04:26 PM | Likes Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    "The Fed allows banks to borrow at 0.25%; they then redeposit with the Fed and earn 2.25% (roughly) and these are termed Excess Reserves"

    Ummmmm....banks can borrow from the Fed at 0.75%, not 0.25%.
    And the Fed pays 0.25% on excess reserves, not 2.25%.
    What is math like on your planet? LOL!
    Jun 30, 2012. 04:26 PM | 4 Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "$947 billion of overpaid and low demand mortgage backed securities sit on the massive $2.8 trillion Fed balance sheet"

    Yeah, those guaranteed mortgages that they bought at lower prices are just awful. LOL!

    Thanks for trying.....and failing.
    Jun 29, 2012. 11:18 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    It'd be quicker if you just admitted your error.
    Jun 29, 2012. 10:31 AM | Likes Like |Link to Comment
  • 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
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1,150 Comments
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