Seeking Alpha

Jim Myrtle

Jim Myrtle
Send Message
View as an RSS Feed
View Jim Myrtle's Comments BY TICKER:
Latest  |  Highest rated
  • 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
  • What Will Pop the Gold Bubble? [View article]
    Gold is great, which is why exactly zero countries are on a gold standard today.
    Jun 1, 2011. 12:06 PM | 2 Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    Multiple currencies circulating side by side are a poor choice.

    "Who are you to decide this?"

    Someone who understands economics. It's not a decision, it's a fact.

    "Of which was originally redeemed in gold"

    Not in the Constitution.

    "Congress subsequently reneged on this relationship"

    By using powers given to Congress in the Constitution.

    "Federal Reserve Notes are redeemable in, well, more Federal Reserve Note"

    Yes, yes they are.

    "Let them choose between something that holds its value over time"

    Gold? That's funny.

    "and has no counter party issues or debt"

    Are you still claiming the $20 in my pocket is risky because it is someone's debt? Ever figure out who owes me interest on the $20?
    Jun 1, 2011. 12:05 PM | 1 Like Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "I do agree Jim, when dealing with the Constitution itself, which only mentions the term "dollars" twice"

    And defines money in terms of gold and silver how many times? Zero!
    Glad I could help you see the truth. Finally.
    Jun 1, 2011. 11:50 AM | 1 Like Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "Jim, I advocate the free will of the People to choose"

    Doug, the people are free to make poor choices. Multiple currencies circulating side by side are a poor choice.

    "Federal Reserve Notes were dictated to us where they not?"

    Based on powers given to Congress in the Constitution.

    "Some of us can see what 14.3 trillion of debt and a Congress that can't control spending leads to"

    Congress and the President spend way too much. Adding gold to the money supply will change that how exactly?
    Jun 1, 2011. 11:48 AM | 1 Like Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "No one is advocating day to day usage of gold in transactions"

    Scroll down, Doug is advocating just that.
    Jun 1, 2011. 11:30 AM | Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    "That's why there is legislation coming forth in Utah to accept gold, not your beloved "dollars" at market value"

    Accepting gold, not accepting Utah dollars.

    "Yes, the states have the right to do this per the Constitution"

    Glad to see you've stopped posting false claims about what the Constitution says. Victory!

    "You have a problem with this, yes or no?"

    No, why would I? And competing currencies circulating side by side within the US is still a bad idea.
    Jun 1, 2011. 11:24 AM | Likes Like |Link to Comment
  • What Will Pop the Gold Bubble? [View article]
    Are you as confused about the Constitution as Doug?
    Jun 1, 2011. 10:56 AM | Likes Like |Link to Comment
COMMENTS STATS
1,138 Comments
790 Likes