Jim Myrtle

Jim Myrtle
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  • Something Is Still Ridiculously Wrong  [View article]
    "Yes I buy it for 90% to 99 % of Spot and sell it for MORE "

    So you aren't scalped by your broker, you are a broker.

    "What part of that bothers you ?"

    Why would that bother me?

    You never explained my mistake, did you forget?
    Aug 31, 2015. 03:36 PM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "It was THEIR profit"

    Yes. Just as the profit I make when I buy a stock or bond and sell at a higher price is MY profit.

    "I think that was a mistake on your part to concede that"

    Please explain my mistake.

    "Good profits either way that didn't get scalped by a broker"

    Have you ever bought/sold physical gold or silver?
    Aug 31, 2015. 08:44 AM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "What about the one's who sold at $1900?"

    Was their profit larger because it "isn't someone else's liability"?
    Aug 30, 2015. 07:22 PM | 1 Like Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "The difference with Gold is that it's an asset (Unlike SS) ,that isn't someone else's liability"

    Anyone would bought gold at $1900, or silver at $50, can comfort themselves with that thought.
    Aug 30, 2015. 05:38 PM | 2 Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "I want to be able to go on vacations and spend money on things I want to purchase"

    How is the Fed preventing you from fulfilling your wishes?
    Aug 29, 2015. 02:36 PM | 1 Like Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "Why won't the Fed dispose of it's treasury holdings by selling them in the open market today? Answer: because it's contractionary"

    Okay.

    "If they can't sell them now"

    They can sell then now, as you admitted above. They don't wish to sell them now.

    "then what's going to happen when time comes that they mature?"

    When they mature the Fed will either buy the same amount, buy a smaller amount or buy nothing.

    "Answer: Oh, the principle will be repaid by the Treasury and they will evaporate"

    Yes, if they don't buy more, the principle will cease to exist and the money supply will decrease by that amount.

    "Follow on question: Where does the Treasury get the money to pay the Fed off at maturity? Answer: Oh, they will just issue new treasuries"

    Yes. Or, heaven forbid, they will pay them off with reduced spending on other things.

    "Really?"

    Truly.

    "How will they just issue new treasuries then, taking money out of the system and not have it be contractionary....then?"

    It will be contractionary. Who ever said it would not be contractionary?
    That's kind of the entire point behind shrinking the spreadsheet, if they ever do, to take a contractionary course of action.
    Aug 28, 2015. 05:26 PM | 1 Like Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "Thanks Jim. Non-responsive"

    Anytime. So are the Treasury auctions going to fail from lack of "idle cash"?
    Any time frame on their upcoming failures?
    Aug 27, 2015. 09:53 PM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    Doomer fear mongering is funny.
    Especially when their math is so incredibly wrong.
    Aug 23, 2015. 12:40 PM | 2 Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    Thanks Jason.
    Aug 23, 2015. 12:38 PM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "It doesn't matter- we NEVER "repay" any debt"

    It does matter. If rates increase by 1%, but we only have to refinance
    $1 billion, that only costs us an additional $10 million/year.
    If $18 trillion has to be refinanced, that would be an extra $180 billion/year.

    Do you see how it matters now?
    Aug 23, 2015. 12:36 PM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "As US debt begins to come due in 2017, we will not be able to afford to cover the interest payments to roll it over at increased rates"

    How much debt comes due in 2017?
    Aug 22, 2015. 06:32 PM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    ""...if Walmart stopped hiring poor people", what would happen to their profit margin, and would the Walton family remain the "richest family" in America?"

    I'm not interested in the impact on their profit margin, just the impact on government payments for healthcare, food stamps and subsidized housing.
    Aug 19, 2015. 01:28 PM | 1 Like Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "thank you, 427, accidental, and American taxpayers for your fealty and willingness to pay for their employees health care, food stamps, and subsidized housing"

    All those payments would be higher or lower if WalMart stopped hiring poor people?
    Aug 19, 2015. 11:01 AM | 2 Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "Why don't idle cash holders buy Treasuries today?"

    Maybe they're waiting for higher rates tomorrow?
    Maybe they want to hold cash now?
    Maybe they need to hold cash now?
    Maybe they'll use money they'll earn between now and then?
    The Fed stopped adding to their balance sheet last October.
    Have auctions continued to be oversubscribed?
    Have rates suddenly jumped since the Fed stopped buying?

    "And why doesn't the Fed sell their holdings TODAY?"

    Why don't you sell your holdings today?
    Aug 18, 2015. 10:35 PM | Likes Like |Link to Comment
  • Something Is Still Ridiculously Wrong  [View article]
    "What's the inducement to invest idle cash in something they can buy today?"

    Something called interest.

    "Why is the cash idle today, but available to refi treasuries when the time comes?"

    You feel there is a lack of cash out there?
    Aug 17, 2015. 10:37 PM | Likes Like |Link to Comment
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