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Jim Myrtle

Jim Myrtle
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  • Can A Central Bank Always Create Inflation? [View article]
    "The argument for money printing is nonsense"

    Can you be more specific?
    Which argument for money printing is nonsense?
    Are all arguments for money printing nonsense?

    "as is the argument for de facto money printing which is claimed to be beneficial rather than thieving"

    How is money printing thieving?

    "Because in the purest sense, inflation is theft"

    Theft from who? Who is the thief?

    "Via a tax"

    Inflation is not a tax.
    Dec 21, 2014. 11:24 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "The country's not growing unless the banks are lending and people are borrowing....."

    You feel our problem is we save too much? Really?
    Dec 21, 2014. 11:19 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "it says so on the face of it ....... Federal Reserve NOTE....."

    Does it also say the maturity date or the coupon?
    How much am I collecting on this note?
    Who should send me the check?
    Dec 21, 2014. 11:18 PM | Likes Like |Link to Comment
  • Russian Roulette: Taxpayers Could Be On The Hook For Trillions In Oil Derivatives [View article]
    "Although 95% of TBTF derivative holdings are exempt as legitimate lending hedges, leveraging cheap money from the U.S. Federal Reserve into $10 trillion of derivative speculation is one of the TBTF banks' most profitable business activities"

    Cheap money from the Fed?
    Does Ellen think big banks are borrowing from the Fed?
    As usual, Ellen is confused.
    Dec 21, 2014. 08:29 PM | 2 Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "If everything nets out"

    If everything nets out where?

    "why not just issue an unlimited amount of T-Bills and Notes?"

    Why would you do that? Who would buy an unlimited amount of T-Bills or T-Notes?

    "Then "after they've been paid" the notes can be spent forever, right?"

    After T-Notes mature, they're gone. Right?

    "Why, we could enrich the net worth of every member of the world by one million dollars each"

    How do you figure that?
    Dec 21, 2014. 08:10 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "You cannot pay a debt with another debt"

    Why not? And what makes you think my FRNs are debt?
    Dec 21, 2014. 08:04 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "But if the financial crisis was caused by people having too much debt, how can the solution be for people to take on more debt?"

    Hmmmmmm........it isn't.
    Who said that it was?
    Dec 21, 2014. 05:18 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "So if the Federal Reserve Bank (actually the United States Treasury) had printed different words on the Federal Reserve Notes there would be no more Business Cycle and there would have been no Crash of 2008?"

    Bazinga!!!
    Dec 21, 2014. 05:14 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "Banks create money when they make new loans, and effectively ‘destroy’ money when they repay loans. "

    I hate to break it to you, that has always been the case.
    Under a silver standard, under a gold standard as well as today.
    Dec 21, 2014. 03:24 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "When is a fine not a fine? When it can be put against your tax bill.".........

    If the government fines me $1,000,000.00, writing it off on my taxes still means it costs me $700,000 or so.
    Feels like an awfully big hit to the wallet, don't you think?
    Dec 20, 2014. 11:28 PM | 1 Like Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "A bank lends a borrower the money to buy a house and collects monthly payments on the loan........"

    Were you going to post something about exotic derivatives or just agree with me about mortgages?
    Dec 20, 2014. 11:25 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "Dodd-Frank tried to limit this kind of moral hazard in various ways, including a rule barring insured institutions from dealing in exotic securities, the kind that played such a big role in the financial crisis"

    Which banks got in trouble because of exotic derivatives?
    I know plenty that got in trouble from dealing in mortgages.
    Any legislation to limit mortgages?
    Dec 20, 2014. 03:46 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "Accounting rule changes prohibit the banks from creating what we
    use for money- from using debt for money - what’s known as fractional reserve banking is decisively ended"

    Yes, 100% reserve banking, now!!!
    Just silly.

    "The Congress originates (creates) new US Money and spends it into
    circulation, for infrastructure, health care and education; starting for example with the $2.2 trillion the engineers tell us is needed
    for infrastructure over the next 5 years"

    It worked for Zimbabwe, it'll work for us!

    "The “NEED” Act HR 2990"

    What idiot wrote that craptacular mess?
    Dec 18, 2014. 11:17 AM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    I guess Jefferson's huge debts could explain his anger at banks.
    I understand his family had to sell much of his property, including Monticello, after his death.

    Yes, there have been bubbles and panics throughout history.
    I guess that fact would make Jefferson a wise steward of money?
    Not so much.
    Dec 17, 2014. 03:17 PM | Likes Like |Link to Comment
  • Can A Central Bank Always Create Inflation? [View article]
    "Jefferson's opinions about banks and bankers is pretty secure....and rightfully so"

    He was a financial bubble head.
    Dec 17, 2014. 01:15 PM | Likes Like |Link to Comment
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