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Jim Myrtle

Jim Myrtle
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  • What Will Pop the Gold Bubble? [View article]
    Your mistakes are related to math and economics, not your native language.
    Jun 13, 2011. 03:55 PM | Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "Do you think my name is Bernanke?"

    No, he's much much smarter than you.

    "I will spend 20 euros and I will send for Bernanke calculator and economics textbook !"

    Excellent! I look forward to fewer errors in your comments.
    Jun 13, 2011. 03:11 PM | Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "If the printing presses are such a great idea why did we stop at an 800 billion dollar stimulus?"

    The $800 billion stimulus was borrowed money, not printed money.

    " Why not just print 2 trillion dollars right now and pay off every mortgage, student loan and credit card balance?"

    Because those total more than $2 trillion? Maybe we should spend $30 and buy you a calculator and an economics textbook?
    Jun 13, 2011. 09:42 AM | 2 Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "You are simply a waste of my time at this point..."

    I'm sorry that you think learning is a waste of your time.
    You seem like a mature guy, how long have you been repeating that error about money and the Constitution? Decades?

    And now you know the truth. How can that be a waste of time?
    Keep denying the expense and inefficiency of multiple, competing currencies trading side by side.
    I guess the companies that spend millions of dollars trying to hedge their currency risks know less than you.....
    Jun 1, 2011. 09:25 PM | 1 Like Like |Link to Comment
  • Silver: From First to Worst [View article]
    "But it's a 360 trillion market that is unwinding by non-payment of debt or default that the banks created"

    Is that a typo?
    Jun 1, 2011. 06:41 PM | Likes Like |Link to Comment
  • Silver: From First to Worst [View article]
    "Yes Jim, printing to counteract the hundreds of trillions of credit created via the abuses of fractional lending which the banks did by lending to anyone with a pulse, whether it be individual or business"

    No, they aren't printing to counteract credit expansion, they're printing to counteract credit destruction.
    Jun 1, 2011. 06:40 PM | Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "I said I want competing currencies of Federal Reserve Notes"

    2 or more different FRNs side by side? Huh?

    "We live in an electronic world Jim, in case you haven't noticed"

    Yeah, I've noticed how many times the price on the shelf is different than that at the register. And now you want to add the flucuations of gold and silver.....to the second? Allow me to laugh.

    What if your store will give you yesterday's close, less 5%, for their trouble. Still gonna trade your silver for groceries?
    Jun 1, 2011. 06:30 PM | 1 Like Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    Huh? ESL?
    Jun 1, 2011. 05:39 PM | Likes Like |Link to Comment
  • Silver: From First to Worst [View article]
    "And what are the consequences of said printing Jim?"

    Prices falling at a slower rate or not at all.

    "Will they be able to print enough to counteract the multiple trillions of credit given out during the credit expansion?"

    Printing to counteract an expansion in credit?
    I think you're turned around.

    "How much printing will they have to do to counteract this deflation?"

    How much have they printed so far? Has that been enough?
    Jun 1, 2011. 05:31 PM | Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "Where did I say anything about 51? currencies?"

    You don't want competing currencies? Why the change?

    "Explain to me these "transaction costs" and "inefficiencies." "

    Silver dropped close to 4% today, didn't it? So when you go to the grocery store with your one ounce silver coin, are you going to get the $38.31 opening quote or the $36.85 closing quote. Is the minimum wage clerk going to have a real time quote in front of him? How will your purchase happen exactly?

    Will your state accept silver and gold in payment of your taxes? Will you mail an envelope full of coins? What if gold dropped 4% between the time you mail and the time they receive your coins?
    Will they send you a past due notice for the difference? Will you owe a penalty?

    Will your bank take these coins in deposit? Will your account be credited 1 oz or the $ price at the time of your deposit? How will interest accrue on a silver deposit or on a silver loan?
    Jun 1, 2011. 05:28 PM | 1 Like Like |Link to Comment
  • Silver: From First to Worst [View article]
    "The reason people run to gold is because governments (Fed and other Central Banks) only know one way to fight deflation; print"

    That's how you fight deflation, Doug, by printing.
    Jun 1, 2011. 04:45 PM | Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "but what I got from what you claim as "fact" is you dictating what others should believe"

    You can believe whatever you like, Doug, but you can't convince me that the added transaction costs and inefficiencies resulting from 51 currencies circulating side-by-side is a good idea.

    "A Federal currency, alongside a state or "local" currency is ok with me"

    I noticed.

    "It's not with you because you want to dictate a national currency"

    It's not okay with me because I understand the inefficiencies 51 currencies would cause.

    "I use the word dictate and dictatorship to mean..."

    I know why you use it, maybe you should stop putting words in my mouth and stick to the actual posts.

    "it's my way and you don't get to choose"

    You can choose to invest your FRNs in whatever you'd like.

    "I didn't necessarily say I want to promote 50 currencies"

    And actually, having dollar denominated gold or silver coins isn't having more than one currency, although it also adds transaction costs and inefficiencies.


    "Use your freedom of choice
    Freedom of choice"

    And don't forget what the Constitution actually says.

    And don't hold up the line at the store trying to convince the minimum wage clerk to accept your gold or silver coin at multiples of face value.......
    Jun 1, 2011. 04:39 PM | 1 Like Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    Currency risk is a fact. Have you heard of it?

    "Yes, and that is exactly why people should freely be allowed to "choose" their currency without government dictate"

    You've heard of currency risk but you'd like 50 state currencies circulating alongside the Federal currency?

    " But you like dictatorships, don't you Jim?"

    I thought we were going to stick to real comments made in actual posts?
    Jun 1, 2011. 03:05 PM | 1 Like Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "How is it a fact?"

    Currency risk is a fact. Have you heard of it?
    Jun 1, 2011. 01:54 PM | 1 Like Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "Federal Reserve Notes are not in the constitution either. End of discussion"

    Since I never claimed they were, I agree.

    "But I will leave you with this....as I know you will want the last word and claim "victory." "

    Doug, the victory was yours. You learned your prior claim was incorrect. You know more than you did before. I'm happy for you.

    "You claim everyone else is ignorant and you, "someone who knows economics" has superior knowledge"

    Are you saying a prolific author, such as yourself, is unfamiliar with currency risk? And I never claimed everyone else is ignorant or that I had superior knowledge.

    "Our leaders know economics too Jim. The same economic geniuses who got us into this mess"

    Yes, Doug, Congress and previous Presidents got us into this mess by pushing home ownership for people who had no business buying a home. By pushing Fannie and Freddie to lower standards on our checkbook. Was that somehow related to gold backed money or our current lack of gold backed money?

    Do you imagine there were no bubbles while we were on the gold standard? No government errors which tanked the economy before 1971? Maybe you need to read some more history?

    " Keep your Federal Reserve Notes and "believe" in them, because in the end, that's all you have"

    Very little of my net worth is tied up in FRNs.

    "Now go ahead and claim victory over Doug"

    Now Doug, don't be bitter. I still believe in you.
    Jun 1, 2011. 01:05 PM | 2 Likes Like |Link to Comment
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