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Jim Myrtle

Jim Myrtle
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  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "The Fed itself says that primary dealers are an integral part of the open market operations (added emphasis mine)"

    You bet, the Fed conducts open market operations with the primary dealers. You got one right!!!

    "THEREFORE YOUR CLAIM THAT PRIMARY DEALERS ARE NOT PART OF THE OPEN MARKET ARE BASELESS"

    You imagine I ever made that claim.

    The Fed only buys (sells) Treasuries from (to) primary dealers.
    That market is closed to you and me, it is not an open market.
    It's just the Fed and the dealers.

    The fact that you can buy from Goldman or HSBC does not make your purchase in the open market in any way equivalent to what the Fed does.
    Sep 3 07:02 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    Can I force the Primary Dealers to buy or sell bonds from me?

    Can I get a piece of the action when the Fed buys or sells bonds?

    Can I call up the Fed and sell them $10,000 worth of bonds?

    Can I get one of the Primary Dealers to buy my bonds, without telling them how many I'm selling first?
    Sep 3 06:24 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    Yes, moron, when you stop repeating your silly errors and get something right, I'll gladly admit you got it right.
    Your batting average has jumped to about .050
    Sep 3 04:57 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "And you, bankers' shill, you're just trying to cover up the FACT that the Fed buys US bonds and treasuries"

    Moron, THE FED BUYS US BONDS AND TREASURIES!!!!
    There is no cover up. Just your confusion about how the Fed makes those purchases. Now that you've done a little research, I'm glad you realize your earlier error.

    "which is only a ploy to cover up the fact that they are printing money out of thin air"

    Moron, THE FED PRINTS MONEY OUT OF THIN AIR.
    There is no cover up. Central banks are allowed to do that.

    "Americans, you get the government you DESERVE"

    And the education system we deserve.
    Sep 3 03:43 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "A primary dealer is a bank or securities broker-dealer who is required to make bids or offers when the Fed conducts open market operations"

    Excellent! Buying from them is different than buying in the open market.

    "The banker shill above calls me a clown for stating this fact"

    Until now, the so called facts you stated about Fed purchases were wrong.

    If stupidity was a crime, you'd be serving life.
    Sep 3 01:16 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "Jim Myrtle above is denying the common knowledge fact that the Fed buys US Bonds and Treasuries in the open market"

    Clown, the Fed buys Treasuries from Primary Dealers. You can look it up, if you want to learn something. Instead of spouting ignorance.
    Sep 3 09:10 AM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "From Wikipedia"

    LOL! Get a real source.
    Sep 2 12:51 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "The Fed does buy US bonds, this is a fact"

    Absolutely. Ya got one right!

    "They buy them in the open market"

    Bzzzt....wrong.

    "and probably also directly from the Treasury via "direct bids". "

    Bzzzt....wrong.

    " That it is not possible to prove that they buy them directly from the Treasury is a moot point"

    The lack of proof is just more proof of how deep the conspiracy runs /tinfoil off

    "THE FED BUYS US BONDS BY CREATING MONEY OUT OF THIN AIR"

    Absolutely. Ya got one right!

    "WHICH IS UNCONSTITUTIONAL, ILLEGAL AND HYPERINFLATIONARY!"

    LOL! If you say so.

    "Bankers' agents like Jim Myrtle are trying to confuse and mislead you"

    Guys who understand math, finance and the Fed, like Jim Myrtle, are trying to correct clowns like Art65, when they post stupid stuff.
    Sep 2 11:57 AM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    I'm calling you stupid for suggesting the banks use their cash as collateral to do repos with the Fed to get more cash to buy bonds.

    And for thinking the Fed made the TARP loans.

    And for thinking the Treasury sold bonds to the Fed for TARP.

    And for thinking the Treasury sells bonds to the Fed.

    And for thinking the Fed gives free money to the banks.

    And for thinking it's a good idea to finance 10 year bonds with overnight loans.

    And for all the other stupid comments you made on this thread.
    Sep 1 11:11 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "I never said bankers were bright people"

    Brighter than you.

    "No, smart**s, the Fed does not lend securities to the banks"

    You're the one who said banks could use their excess reserves.
    Excess reserves are cash. Did you mean banks could use their bonds? Maybe you should have said that, you'd sound less stupid.

    " repurchase agreements that they enter into with the Fed "

    How much of these repos are outstanding, give me a dollar amount

    "Free money"

    LOL! Yeah, Bear Stearns made free money the same way. Clown.
    Sep 1 02:32 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    I'd like your teachers to apologize for your ignorance.
    Sep 1 12:02 PM | 1 Like Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "Can't you read English?"

    Can't you do math?

    "As I said above, because banks can buy Treasuries and bonds which have yields that are 100%-200% higher than that. The banks are making money doing nothing"

    That's a great idea! Borrow over night to fund bonds maturing in 10 or more years. What could go wrong?

    Maybe you could ask Bear Stearns? That's how they funded their bond portfolio. It works until people don't roll over your overnight loan.
    Then you go under.

    "Banks can employ their excess reserves as collateral for conducting repurchase agreements (repos) with the Fed"

    Yes, if the Fed wants to lend securities overnight, a bank could use its excess reserves. Last time I looked, the repo rate was 0.20%.

    Pretty sure you don't know what you're talking about there either.
    Sep 1 12:01 PM | 1 Like Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "Yes, your actions, Mr. Banker"

    Sorry, not a banker.
    Aug 31 12:20 PM | 1 Like Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    "The Fed lends banks money at less than 1% which the banks use to buy Treasuries and Bonds that yield 2.5%-3.5%"

    You think it's a good idea to borrow overnight to fund a 10 year bond purchase? LOL!
    You should try that with your own money, see how it works out.
    FYI, banks are currently borrowing a whopping $28 million at the discount window.

    When you get a chance, please explain why a bank with excess reserves, yielding 0.25%, would borrow at 0.75%?
    Aug 31 12:18 PM | Likes Like |Link to Comment
  • Why Bonds Are Most Certainly Not in a Bubble [View article]
    “They are earning a guaranteed return on free money from the Fed by lending it back to the government through securities purchases.”

    Free money? The discount rate is 0.75%.
    Aug 30 11:38 PM | Likes Like |Link to Comment
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