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Jim Myrtle

Jim Myrtle
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  • 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
  • Can A Central Bank Always Create Inflation? [View article]
    "But you think that the government scamming the public and they now pay 5-6 times the amount promised in the original SS legislation, is fine"

    No, I don't think Social Security is fine. I don't think the government is fine.

    Which gets us no closer to you proving that debts paid off with FRNs are "discharged" and not actually paid off.
    Dec 24, 2014. 01:00 AM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "What would you call it. It's not money"

    I still manage to spend it and pay off debt with it.
    Feels like money to me.
    Dec 24, 2014. 12:58 AM | 1 Like Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "I took a look at the "Conclusions" and I saw a lot about derivatives and banks failing"

    And nothing about any bank failing because of derivatives.

    "The crisis was not caused by mortgages, but by CDOs and synthetic collateralized debt obligations"

    Well that's just silly. Of course the crisis was caused by mortgages.
    CDOs are simply pools of mortgages, or other debt securities.
    Synthetic CDOs were tiny compared to the mortgage market.

    "Finally, when the housing bubble popped and crisis followed, derivatives were in the center of the storm." p11

    What does that even mean? If they had caused a bank to fail, it'd be on page 1, in bold letters.

    "These were not straight mortgages"

    I agree, most derivatives were unrelated to mortgages.
    Dec 24, 2014. 12:53 AM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "While the interest is added to the "people's debt"."

    Yes. The government borrows money and the people are on the hook.
    So glad I can help you learn something new.
    Dec 23, 2014. 11:31 PM | 1 Like Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "if there were no loans in our monetary system,there would be NO MONEY.....Debts just disappear. No tangible wealth is gained.... "

    Yes, borrowing increases the money supply.
    Yes, paying off your loans reduces the money supply.

    Still no luck finding proof that my debt payments over the years have really been "discharges"?
    Dec 23, 2014. 11:30 PM | 1 Like Like |Link to Comment
COMMENTS STATS
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