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Jim Myrtle

Jim Myrtle
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  • 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
  • Bernanke: We Must Be 'Humble' [View article]
    "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.
    May 15, 2012. 10:56 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    Yes, those GSEs have stuck your grandkids with huge losses.
    Meanwhile, the nasty Wall Streeters paid back their bailout at a profit to the Treasury.
    May 14, 2012. 05:36 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    Thanks for the link.
    It doesn't answer my question, but thanks anyway.
    Try again?

    "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.
    May 14, 2012. 02:09 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "Let's go back to mark-to-market accounting and see where JPM stands. I think it's bankrupt like all the other big banks"

    Making up your own definition of bankruptcy?

    "Of course, I may be wrong"

    You have been wrong about pretty much everything you've posted on this thread, so you're probably right with this possibility.

    Did you ever find the proof for this claim?

    "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.
    May 14, 2012. 12:29 PM | 1 Like Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    JPM will still make billions this quarter.
    Their losses cost the US taxpayer zero.
    Unlike Fannie and Freddie, which are truly backstopped by the taxpayers. Unlike JPM.
    May 11, 2012. 05:36 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "Fannie and Freddie Held Fewer Toxic Loans than Most Banks"

    Citibank lost Citibank shareholder money on their toxic loans.
    Fannie and Freddies toxic loans cost US taxpayers money.

    See the difference?
    May 10, 2012. 11:51 PM | Likes Like |Link to Comment
COMMENTS STATS
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