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Jim Myrtle

Jim Myrtle
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  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "And that's before you even count the $4 billion in actual cash we taxpayers hand these Takers each year to help spur them on in helping us destroy our civilization"

    Could you tell me more about this?
    Dec 28, 2014. 02:08 PM | Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    Coins, a CDO is a Collateralized Debt Obligation.

    A structured financial product that pools together cash flow-generating assets and repackages this asset pool into discrete tranches that can be sold to investors. A collateralized debt obligation (CDO) is so-called because the pooled assets – such as mortgages, bonds and loans – are essentially debt obligations that serve as collateral for the CDO.

    http://bit.ly/1wuCQOJ

    You see, if you pool a bunch of bonds together, you have a bond, not a derivative.
    Dec 28, 2014. 11:58 AM | Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "The govt commission report I cited did find that derivatives were a contributing factor because of their leverage and that they sometimes referenced the same security more than once"

    Why would the fact that several synthetic CDOs referenced the same security be a contributing factor to the crisis?

    "GS created and sold 73 billion in synthetic CDOs"

    And?

    "in order to raise the concerns this article has raised about banks and oil related derivatives"

    Do you remember any articles that said JPMorgan was shorting billions of ounces of silver on behalf of the Fed, because expensive silver was really really bad (for some bizarre reason)?
    They said everyone should buy silver, to kill JPM. They were pretty silly.

    Kinda like the idea that lower oil is going to kill a bunch of US banks.
    Why can't the banks be short oil? Or hedged?
    Dec 26, 2014. 01:29 AM | 3 Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "I don't think Leftfield was referring to the common credit swap derivatives"

    I don't know which ones he was talking about.

    "Your questions appear to be "red herrings" to divert attention from the culprits, the banks and originators. I.e., banks did not fail solely as result from derivatives (narrow definition) in 2007-2008"

    I'm diverting attention from banks failing because of mortgages by saying they didn't fail from derivatives? I see many complaining about derivatives and claiming they caused the crisis, but I never see them prove their claim.

    ""BETS" - that word says it all."

    Absolutely.

    "Because Lehman did not fail "solely" due to derivatives, you think you have "proven" that derivatives had nothing to do with the subprime financial crisis. You have not"

    I'm not trying to prove they had nothing to do with the crisis.
    I haven't seen any proof they did. Have you?

    "Ellen Brown is doing a great service here"

    Her articles have so many errors that she can't be taken seriously.
    Dec 26, 2014. 12:14 AM | 1 Like Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "In a recent paper five Fed economists calculated that if the Fed buys $1 trillion of bonds this year and starts tightening in 2014"

    I'm pretty sure the Fed won't tighten in the next week.

    "then the Fed’s profit will turn to loss by 2017"

    They gave the Treasury about $45 billion in 2009, $79 billion in 2010, $77 billion in 2011, $89 billion in 2012 and $77 billion in 2013.
    Over a third of a trillion. Not sure where 2014 earnings are projected yet.

    "Cumulative losses could eventually reach $40 billion"

    Gee, that'd be awful.

    "from higher interest expenses and realised losses on MBS sales (the economists assume the Fed will hold its Treasuries to maturity)"

    I don't see why they'd have to sell any MBS. They do run off into cash, which they don't have to reinvest, if they want their spreadsheet to shrink.

    "If interest rates rise more sharply than expected, losses could peak at $125 billion, and the Fed would pay no profit for six years....."

    Gosh, less free money for the Treasury. Awful, just awful.
    Dec 25, 2014. 04:13 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "A quarter percent on 4 trillion dollars ain't chump change...."

    $10 billion a year.

    Doesn't seem like much compared to 2%-4% on $4 trillion.
    Dec 25, 2014. 02:12 PM | 1 Like Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    It is the "moral hazard" of giving all the banksters this "created money" yet blaming the little guy for their theft.."

    Who gave the banksters anything?

    QE was the Fed buying bonds, in exchange for cash. No one was given cash.

    The Fed earned 2%-4%, the cash only pays 0.25% as excess reserves.
    Dec 25, 2014. 01:49 PM | Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "Re: Lehman"

    Yes, it was messy settling the derivatives on Lehman's books.
    Lehman did not go bankrupt because of derivatives.
    Dec 25, 2014. 12:45 PM | 2 Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "AN MBS is also a derivative"

    An MBS is a pile of mortgages, sliced into pieces.
    Slice up a bond and it's still a bond.

    "Consider the impact on IndyMac"

    They were a huge mortgage lender.
    Dec 25, 2014. 12:24 PM | 2 Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    ""Hypothecated" all property within the federal United States to the Board of Governors of the Federal Reserve, - in which the Trustees (stockholders) held legal title, the U.S. citizen (tenant, franchisee) was registered as a "beneficiary" of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their "subjects," the 14th. Amendment U.S. citizens, to the Federal Reserve System"

    After posting the above, it is funny to see you mention reasoning.

    If you ever post your definition of "discharged", be sure to let me know.
    Dec 24, 2014. 06:26 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    Jimmy Cayne lost $1 billion.
    Dec 24, 2014. 02:36 PM | Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "Perhaps more accurately, because of the bailout, they did not fail due to derivatives"

    There was a bailout, but that didn't stop banks from failing due to mortgages.
    Dec 24, 2014. 12:17 PM | 2 Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    Yes, a synthetic CDO is the only derivative in that list.
    Do you know of any banks that failed because of sythetic CDOs?
    Dec 24, 2014. 12:12 PM | 2 Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "Should I send him a donation???"

    Send your donation to the people who keep repeating the claim that bankers didn't lose any money.
    Dec 24, 2014. 12:09 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "Overall, we estimate that the top executive teams of Bear Stearns and Lehman Brothers derived cash flows of about $1.4 billion and $1 billion respectively from cash bonuses and equity sales during 2000-2008.""

    Jimmy Cayne lost about $1 billion on his Bear Stearns stock.
    Dec 24, 2014. 01:08 AM | Likes Like |Link to Comment
COMMENTS STATS
1,150 Comments
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