Jim Myrtle

Jim Myrtle
Send Message
View as an RSS Feed
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives  [View article]
    Yes, bondholders are losing money. The hyperventilating here was about oil derivatives.
    Dec 27, 2015. 11:24 AM | Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives  [View article]
    "but the derivatives banks will still get killed if oil prices don't go back up soon"

    Ellen, it's been a year. Oil is 25% lower. Any "derivative banks" dead yet?
    Any taxpayer bailouts of "derivative banks" in the last year?
    Dec 26, 2015. 02:18 PM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    SV, the difference is that Carson's silliness doesn't lead to trillions in wasted spending to reduce "global average temperatures" by 0.1 degrees in 2080.
    Dec 26, 2015. 11:53 AM | 3 Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "the capital gains tax rate, which is lower than the ordinary tax rate (which his secretary is being taxed at)"

    That's awful!!
    Of course to know her actual tax rate, you'd need to know her income.
    Do you know her income?
    Dec 25, 2015. 01:36 PM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "What did you think of Ben Carson stating that the Egyptians built the pyramids to store grain?"

    That's almost Al Gore level silliness.
    Dec 23, 2015. 02:11 PM | 1 Like Like |Link to Comment
  • The Federal Reserve System Has Legalized And Institutionalized The Dishonesty Of Issuing More Hat Checks Than There Are Hats  [View instapost]
    Thanks for the links. Nothing useful there.
    Dec 7, 2015. 06:10 PM | Likes Like |Link to Comment
  • The Federal Reserve System Has Legalized And Institutionalized The Dishonesty Of Issuing More Hat Checks Than There Are Hats  [View instapost]
    "Because a currency that contains no real money, has nothing of any value in it"

    That's weird, because I buy things of value all the time with this "valueless" money. Nice house, nice cars, nice food.

    You must be confused. Again.
    Dec 7, 2015. 06:09 PM | Likes Like |Link to Comment
  • Does The Financial Sector's Strength Drive The Gold Price?  [View article]
    "The gold price is driven by unlimited credit on naked gold shorts"

    Why do you call someone who sells a gold futures contract "a naked gold short"?
    Dec 4, 2015. 08:31 PM | Likes Like |Link to Comment
  • The Federal Reserve System Has Legalized And Institutionalized The Dishonesty Of Issuing More Hat Checks Than There Are Hats  [View instapost]
    "Very little is actually lost"

    So if I open the Bank of Jim, take $1,000,000 in deposits loan out $900,000 and the borrowers all default, the bank has lost little of tangible value? What do my depositors do now that their money is gone?

    "Otherwise the banks stockholders would take the loss"

    Why would they take a loss if "little of tangible value is lost"?
    Nov 30, 2015. 09:05 PM | 1 Like Like |Link to Comment
  • The Federal Reserve System Has Legalized And Institutionalized The Dishonesty Of Issuing More Hat Checks Than There Are Hats  [View instapost]
    "If the bank is forced to write off a large amount of bad loans, the amount could exceed the entire value of the owners' equity. When that happens, the game is over, and the bank is insolvent"

    So much for the claim that little of tangible value is actually lost, eh?
    Nov 27, 2015. 12:56 PM | Likes Like |Link to Comment
  • Gold Plunges On A Stronger US Dollar  [View article]
    "Its a short which does not require the issuer to provide any collateral for the short"

    If I short a gold contract, I have to provide collateral.
    Who can sell "naked gold" without collateral? Where? How?
    Nov 13, 2015. 02:08 PM | Likes Like |Link to Comment
  • Gold Plunges On A Stronger US Dollar  [View article]
    "Gold prices are manipulated and are fixed by unlimited nake gold shorts"

    What's a "naked gold short"?
    Nov 12, 2015. 11:43 PM | Likes Like |Link to Comment
  • The Federal Reserve System Has Legalized And Institutionalized The Dishonesty Of Issuing More Hat Checks Than There Are Hats  [View instapost]
    "When a borrower cannot repay and there are no assets which can be taken to compensate, the bank must write off that loan as a loss. However, since most of the money originally was created out of nothing and cost the bank nothing except bookkeeping overhead, there is little of tangible value that is actually lost. It is primarily a bookkeeping entry"

    Cost the bank nothing? This is the point in Griffin's book when I knew he wasn't to be taken seriously.
    Nov 2, 2015. 09:30 AM | 1 Like Like |Link to Comment
  • Gold Prices Should Appreciate As The Fed's Hands Are Tied  [View article]
    "There is no way to charge or collect pay interest on currency that does not contain any real money."

    I've charged, paid and collected interest on currency that doesn't contain any real money. I guess you mean gold or silver.
    Oct 31, 2015. 01:34 AM | Likes Like |Link to Comment
  • The Federal Reserve Can't Solve Low Rates  [View article]
    "It used to be called Usury to charge interest on principal you do not own"

    Who do you think does that?

    "When you have over $200 trillion in federal reserve notes outstanding"

    There is about $1.4 trillion in US currency in circulation. You're a bit off.
    http://bit.ly/1WjE0uf
    Oct 28, 2015. 09:17 PM | Likes Like |Link to Comment
COMMENTS STATS
1,274 Comments
881 Likes