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Jim Myrtle

Jim Myrtle
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  • The Confiscation Of Bank Deposits And The Derivative Debt: James Corbett Interviews Ellen Brown On GRTV (Video) [View article]
    "More citizens need to rise, step up, educate themselves and request Glass Steagall be reinstated in the US"

    Why do we need Glass Steagall?

    To stop banks from writing bad mortgages?
    Jan 3, 2015. 02:15 PM | Likes Like |Link to Comment
  • The Confiscation Of Bank Deposits And The Derivative Debt: James Corbett Interviews Ellen Brown On GRTV (Video) [View article]
    "If low oil prices result in failure of any financial institution that then requires a bailout, then it IS time to nationalize the banks, put the leaders in jail and put a stop to this nonsense"

    Yes, we must put bank lending and investing decisions into the hands of politicians.

    What could go wrong?
    Jan 3, 2015. 02:13 PM | 1 Like Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "The commie part of the US banking system is that the taxpayers cover the corporation's loses, as if the bank is a state enterprise"

    Which bank losses were covered by the taxpayer during the recent crisis?
    Jan 3, 2015. 11:52 AM | 1 Like Like |Link to Comment
  • 7 Problems That Will Keep The Markets On Edge In 2015 [View article]
    That looks like Ellen Brown's ridiculous number, not Warren's.
    Jan 3, 2015. 11:43 AM | Likes Like |Link to Comment
  • The Confiscation Of Bank Deposits And The Derivative Debt: James Corbett Interviews Ellen Brown On GRTV (Video) [View article]
    A government run bank.......a safe place to put your deposits.

    What are 2 things no one said ever?
    Jan 2, 2015. 11:10 PM | 1 Like Like |Link to Comment
  • The Confiscation Of Bank Deposits And The Derivative Debt: James Corbett Interviews Ellen Brown On GRTV (Video) [View article]
    Why does she even discuss derivatives?
    She knows less about them than she does about banking, difficult as that is to believe.
    Jan 2, 2015. 10:05 PM | 3 Likes Like |Link to Comment
  • 7 Problems That Will Keep The Markets On Edge In 2015 [View article]
    "Let me add the possibility of another banking collapse related to oil derivatives to your list of problems for 2015"

    How much are banks going to lose, related to oil derivatives?
    Jan 2, 2015. 03:55 PM | Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "Bankers should have to share the pain"

    Kill the greedy kulaks, eh comrade?
    Jan 2, 2015. 02:20 PM | 1 Like Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "30/1 leverage will do nicely"

    What does that have to do with Ellen's ridiculous miscalculation?
    Dec 29, 2014. 11:59 PM | 1 Like Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "I had already debunked your theory with this post before you posted it Jim"

    What theory?

    "I do believe you are using semantics to obfuscate when it comes to the term "Derivatives" .In general the generic term seems to be used the way we have represented it here"

    If you think the "generic term" includes MBS or CDOs, you're wrong.

    Synthetic CDOs, on the other hand, are derivatives.
    Dec 28, 2014. 07:25 PM | Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    I understand why you're hesitant to post here. Let's look at your title.

    "Taxpayers Could Be On The Hook For Trillions In Oil Derivatives"

    Let's say the US produced 10 million barrels a day.
    And every single barrel of production was hedged by the producers setting up a derivative with their US bank.

    Not just the tiny shale producers, but every single producer, every single barrel.

    If they hedged at $100 a barrel ($1 billion a day in production) and oil drops to $50, forever, one year of hedged production, assuming the banks didn't hedge themselves (silly assumption), would cost US banks about $180 billion.

    How do we get to trillions in losses?
    Dec 28, 2014. 04:26 PM | 4 Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "Instead of deducting the costs of an oil or gas well as its value declines, oil companies are allowed to deduct a flat percentage of the income they derive from it."

    Thanks. Not sure why they use "percentage depletion" instead of depreciation. Maybe ease of calculation? Still not an example of handing the oil companies $4 billion in actual cash.

    "Because the deductions are based on revenues, not costs, the subsidy actually increases at times when prices are high"

    It's true, when earnings are higher, an identical percentage deduction of those earnings would be higher.

    "when prices are high, which of course is when oil companies enjoy their greatest profits."

    If percentage depletion is 15% (number used strictly for illustration), 85% of $1 billion is bigger than 85% of $500 million, so taxes are still higher, of course, when the oil companies enjoy their higher profits.
    Dec 28, 2014. 02:57 PM | 2 Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    How is writing off business expenses, handing them "$4 billion in actual cash"?

    You know all businesses get to write off their expenses, right?
    Dec 28, 2014. 02:33 PM | 1 Like Like |Link to Comment
  • 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
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