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Jim Myrtle

Jim Myrtle
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  • Did Bernanke Pull a Fast One Last Night? [View article]
    The Fed returns its earnings to the Treasury every year.
    Dec 6 10:20 PM | 9 Likes Like |Link to Comment
  • Fannie Mae repays Treasury, and more [View news story]
    "If a dollar has value over and above the paper and ink, it must be the exchange value"

    Sure and that "exchange value" bought 1/1331st of an ounce of gold today and only 1/1900th of an ounce of gold about 2.5 years ago.

    Did you steal that change in value from gold owners? Why not?
    Feb 27 05:21 PM | 6 Likes Like |Link to Comment
  • Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks [View article]
    "The Bank of North Dakota is the only state-owned bank in the country"

    So what? I'm more concerned about the state banks in the more corrupt states.

    How would Alexi Giannoulias (the mobbed up Illinois Treasurer) do when he directs state money into loans for his Mob buddies and political cronies (but then I repeat myself)?
    Oct 15 07:45 PM | 6 Likes Like |Link to Comment
  • Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks [View article]
    We wouldn't have this problem if every state had a government run bank. LOL!
    Oct 15 05:11 PM | 6 Likes Like |Link to Comment
  • Is The Gold Market Manipulated? Part 1: Introduction And The London Gold Pool [View article]
    "Every day the dollar depreciates"

    Doesn't look like it's depreciating versus gold lately.

    ""Despite $1 trillion dollar annual Fed bond purchases" DESPITE ? you make it sound like QE'S will have no negative effect "

    Yes, despite QE, the dollar buys 50% more gold than it bought two years ago.

    "Will I sell? Depends on what I get in return. If it is fiat money I will not"

    I don't care who you are, that's funny right there.
    Nov 25 12:08 AM | 5 Likes Like |Link to Comment
  • There's No Longer A Bernanke Put [View article]
    "Inflation and ZIRP are absolutely a form of theft and wealth transfer from large segments of citizens to a small minority of the wealthiest elements of society"

    You're right, only those who borrow, invest or hold hard assets could benefit from the Fed's policy.
    Hardly anyone......
    Sep 15 03:08 PM | 5 Likes Like |Link to Comment
  • Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks [View article]
    "They can be as big as they want as long as we don't have to underwrite them, but "too big to fail" means we the people have to pick up the tab when they get in trouble"

    When your state banks get into trouble, who will pick up the tab?

    "There are a lot of useful things we could do with some publicly-owned banks, like generate the credit to get the economy whirring again"

    And politically motivated loans. Maybe they could help poor credit risks to buy homes they can't afford?
    Oct 15 07:20 PM | 5 Likes Like |Link to Comment
  • Is The Gold Market Manipulated? Part 1: Introduction And The London Gold Pool [View article]
    "I am not a gold bug"

    Your earlier statement makes me doubt this claim.

    "Will I sell? Depends on what I get in return. If it is fiat money I will not"
    Nov 25 10:16 PM | 4 Likes Like |Link to Comment
  • Is The Gold Market Manipulated? Part 1: Introduction And The London Gold Pool [View article]
    "Were you happy in 2008 ??"

    No. That's why I know PM holders are not truthful when they say they don't mind the bear market gold has suffered, despite their claims that continued QE would send gold ever higher.

    "Now how you gonna feel when your paper becomes worth less?"

    Despite $1 trillion dollar annual Fed bond purchases, the dollar buys 50% more gold than 2 years ago. When will it be worth less?

    At what price will you sell your gold? Or will you hold forever?
    Nov 24 08:48 PM | 4 Likes Like |Link to Comment
  • Why QE Has Not Been Stimulative [View article]
    "QE was never about growing the economy as a primary goal. it was all about bailing out the banks"

    How does buying a guaranteed bond and giving them cash (yield: 0.25%), bail out the banks?

    "never forget who owns the Fed, it's the same banks who benefited from all the new money"

    Banks don't own the Fed, the US government does.
    Jul 10 12:14 PM | 4 Likes Like |Link to Comment
  • Fiscal Cliff: Let's Call Their Bluff [View article]
    "Government doesn't need to borrow. It can issue the money to pay for workers and materials"

    Yes! That works so well in Zimbabwe.

    "Today nearly all our money originates in banks, which expect to get paid back with interest"

    Yes, banks expect the money they loan to be repaid with interest.
    I expect the same when I lend money.

    "on something they created on a computer screen."

    Banks loan money that people have deposited with them.
    Banks create money from deposits, not from thin air.

    Thanks for reminding me why serious people can't take you seriously.
    Jan 3 10:56 AM | 4 Likes Like |Link to Comment
  • The Scourge Of Central Banking [View article]
    "Explain to me why there have been no criminal prosecutions of the big banks"

    Explain to me the crimes they'd be prosecuted for committing.
    Too much lending?
    Securitizing their mortgages and selling the MBS?
    Buying someone elses MBS?
    Holding too many mortgages? Selling too many mortgages short?
    Do you want to prosecute them now for lending too little?
    For paying their employees too much? Too little?
    Oct 11 05:23 PM | 4 Likes Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    "The Fed allows banks to borrow at 0.25%; they then redeposit with the Fed and earn 2.25% (roughly) and these are termed Excess Reserves"

    Ummmmm....banks can borrow from the Fed at 0.75%, not 0.25%.
    And the Fed pays 0.25% on excess reserves, not 2.25%.
    What is math like on your planet? LOL!
    Jun 30 04:26 PM | 4 Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "I'm leaning toward making banks like the public utilities."

    Maybe we should make martgage lenders like public utilities?
    We could call them Fannie Mae and Freddie Mac.
    What could go wrong?
    May 3 05:36 PM | 4 Likes Like |Link to Comment
  • The Output Gap: Welcome to the Balance Sheet Recession [View article]
    "The point is that over the past few decades, the top 10% has taken most of the gains in the economy"

    Don't you mean earned?

    "It is because the system is heavily tilted in their favor through their use of global labor arbitrage, favorable tax treatment"

    Yes, our highly progressive income tax combined with the highest corporate tax rates in the world make it easy for evil rich guys to make all the money. LOL!

    "Democracy and a healthy economy depend upon the middle class"

    And the middle class depends on rich people for jobs.

    "and wealth has been being transferred from them to the rich for a generation now"

    That's funny. We need lower taxes, not higher.
    Sep 11 10:04 AM | 4 Likes Like |Link to Comment
COMMENTS STATS
969 Comments
639 Likes