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Jim Myrtle

Jim Myrtle
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  • Amend The Fed: We Need A Central Bank That Serves Main Street [View article]
    "Um.....remember mark-to-market???"

    I do. What was the market price of those MBS?

    "Please recall that at that time the credit markets were frozen"

    At what time? Can you be a little more specific with your claim?
    Dec 12 09:36 AM | 1 Like Like |Link to Comment
  • Amend The Fed: We Need A Central Bank That Serves Main Street [View article]
    Guaranteed MBS weren't trading before QE?
    Are you sure?
    Dec 11 05:41 PM | Likes Like |Link to Comment
  • Amend The Fed: We Need A Central Bank That Serves Main Street [View article]
    Yeah, no better way to hide your true ownership than to give 94% of your earnings to the government. LOL!
    Dec 11 05:32 PM | 1 Like Like |Link to Comment
  • Amend The Fed: We Need A Central Bank That Serves Main Street [View article]
    "Only if and when enough citizens of the world make this realization can mankind terminate this financial enslavement...and evolve a more organic, more efficient, more humane financial and economic system"

    Peace love dope!
    Dec 10 05:16 PM | Likes Like |Link to Comment
  • Amend The Fed: We Need A Central Bank That Serves Main Street [View article]
    "they exchanged an earning asset with a potential market risk of loss for a "guaranteed" purchase price, significantly above what market otherwise would have been"

    What were they trading at before the Fed purchases?

    "for a smaller earning, but more liquid and "guaranteed" value asset."

    Yes, cash is more liquid. They lost earnings, they didn't get "trillions of dollars at zero cost".
    Dec 10 10:14 AM | 3 Likes Like |Link to Comment
  • Amend The Fed: We Need A Central Bank That Serves Main Street [View article]
    "The Fed publishes its own financial statements and remits 94% of their profits to the Treasury"

    94% to their "not owners"? Why?
    Dec 10 10:10 AM | 1 Like Like |Link to Comment
  • Amend The Fed: We Need A Central Bank That Serves Main Street [View article]
    "You must live in Illinois, California, or maybe Detroit. Wouldn't a municipal or State bailout from the Fed have been nice for those governments?"

    Ellen thinks giving the crooked politicians in Illinois and California their own bank is a good idea. Do you think crony loans would help those states? Imagine Solyndra repeated many times, with the state taxpayers on the hook for the losses.

    "Anyway, asking the Fed to serve anyone but its owners (private banks)"

    The Fed is owned by the government, not private banks.
    Dec 9 08:08 PM | 1 Like Like |Link to Comment
  • Amend The Fed: We Need A Central Bank That Serves Main Street [View article]
    "Huszar's assignment at the Fed was to manage the purchase of $1.25 trillion in mortgages with dollars created on a computer screen. He says he resigned when he realized that the real purpose of the policy was to drive up the prices of the banks' holdings of debt instruments, to provide the banks with trillions of dollars at zero cost with which to lend and speculate, and to provide the banks with "fat commissions from brokering most of the Fed's QE transactions.""

    Well, buying MBS would tend to drive up the price of MBS.
    Dollars at zero cost? The Fed took bonds from the banks that were paying 2%-4% and gave them cash earning 0.25%.
    How is that in any way giving them dollars at zero cost?
    Fat commissions? How about some specifics?

    He sounds a bit confused. Reminds me of you, Ellen.
    Dec 9 07:58 PM | 1 Like Like |Link to Comment
  • Blow to banks' hedging in Volcker Rule [View news story]
    Let me know when Wikipedia explains to you how Glass Steagall would have prevented the crisis.
    Dec 8 11:49 PM | 1 Like Like |Link to Comment
  • Blow to banks' hedging in Volcker Rule [View news story]
    "Are you really this out of touch?"

    You're the guy making up stories about banks borrowing from the government at 0.25% and then buying bonds from the Fed.

    Let me know when you figure out how Glass-Steagall would have prevented the recent crisis. Maybe you can Google it?
    Dec 8 11:00 AM | 2 Likes Like |Link to Comment
  • Blow to banks' hedging in Volcker Rule [View news story]
    "And? When it was on the books, we had no crash for decades"

    So what? How would it have prevented the crash?

    "Govt gave banks loan at .25 to .5% "

    When?

    "and banks bought Treasuries from Fed for that money(over 3.5% interest)"

    The Fed was increasing their Treasury holdings, not selling them to banks. In fact, the Fed was buying Treasuries from the banks.

    "Free money(Just google)

    Did you get your info from LOL.com?
    Dec 7 08:46 PM | 1 Like Like |Link to Comment
  • Blow to banks' hedging in Volcker Rule [View news story]
    "now that they know they are TBTF it gives them a license to gamble and call everything hedging including HFT trades, leveraged commodity trades, taking the other side of customers orders or outright betting against them"

    You know when a firm sells a synthetic security, they have the side opposite of their client, right?
    Dec 7 08:19 PM | 1 Like Like |Link to Comment
  • Blow to banks' hedging in Volcker Rule [View news story]
    "Repealing Glass-Steagall Act was a mistake. Immediately after the crisis we, as a country had an obligation to look at what should we do to prevent it from happening again"

    A mistake? Why? Glass-Steagall didn't prevent bad loans from being written.

    "Banks get free guaranteed loans and they charge customers interest on that money to appease their shareholders"

    Free guaranteed loans? Please explain further.
    Yes, banks charge interest, true story.
    Dec 7 07:49 PM | 1 Like Like |Link to Comment
  • Is The Gold Market Manipulated? Part 1: Introduction And The London Gold Pool [View article]
    "No I sold in the low 30's are you totally bad in math"

    You didn't sell at $49.76? That's a relief.

    Why do you feel inflation was 20% over the last 2 years?

    Is that based on the cost of your Alzheimer's meds?
    Dec 4 05:50 PM | 2 Likes Like |Link to Comment
  • Is The Gold Market Manipulated? Part 1: Introduction And The London Gold Pool [View article]
    "I bought back after a 25% drop,so if you had on e what's your point?"

    You bought silver in the high $30s? Sorry.
    Dec 4 05:20 PM | 2 Likes Like |Link to Comment
COMMENTS STATS
981 Comments
665 Likes