Spiga

Sperm Banks, Blood Banks, next in line at Fed Window

I wanted to start this post by reiterating we are short the equities markets. We are reshort WMT at 58 with a stop right over that (Sept 50 puts long) as well as holding our OEX/SPX option shorts from around Dow 13,000. We are buying SLV index on the Amex and neutral/bearish on crude with no trade on. From our previous post, a short term spike in the dollar may come from a quick tip up in rates from the Fed. Now on to the entertainment! I also wanted to put Wells Fargo on the short list as well. This stock is going to make some new lows in the next 3 months. Level Three to Fed... but how to recycle it? Those outstanding equity lines are going to come home to "Roast".

Its enjoyable to read the press that isn't making major headlines to see what is going on. Some great reprints from an article

"The Federal Reserve is just days away from completing the financing for its
bailout of Bear Stearns Cos., after which the central bank will have another big
decision to make: how to account for it.

"Flip through the footnotes to
the Fed's latest annual report, and you'll come across an open secret. The Fed
doesn't follow normal accounting rules, as promulgated by any of the major
standard-setting boards. Rather, the Fed writes its own, in a document called
the Financial Accounting Manual for Federal Reserve Banks.

"If you ever
wanted to design an accounting regime to help a bank cook its books, the Fed's
would be perfect. This doesn't exactly inspire faith in the U.S. financial
system, at a time when a good example might help a lot."

Foreigners that
buy U.S. assets and finance the Current Account Deficit need to have faith in
the U.S. financial system to continue buying... The Fed's not exactly giving
foreigners a reason to buy U.S. assets, are they now?

WELL im tired...

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The Fed, what will it do?

Take this for example:

Three-month Libor is now 2.80%, or 0.96 percentage points above the effective
market rate that generally tracks the Fed's target. That spread, a measure of
banks' willingness to lend, is actually higher than it was in December when
signs of credit risk were more widespread as a lengthening line of banks have
announced multi-billion dollar writedowns. The gap was very narrow, at about
0.06 point, until August and credit crisis really took off.
As long as the
Libor rate is so much above fed funds, the U.S. central bank is unlikely to
tighten, said William O'Donnell, U.S. government bond strategist at UBS
Securities.


Although it is true that the consumer is not seeing the true benefit of falling shorter rates to steepen the yield curve and bring branks a spread to strengthen balance sheets - I do see something happening.

The Fed will move, in the next 60 days... raising the rate .25 bps. And leaving it alone until 2009. The Fed must telegraph a stance stronger then jawboning, that they are serious about stopping the inflation spiral, becouse into 2009 - that would mark two quarters of higher inflation, and thats perma inflation. The dollar drop started this move in vengence around the world. We must be the currency to stem it.

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Brokers threatened by run on shadow bank system





WELL:


By 1999, the Gramm-Leach-Bliley Act rolled back Depression-era restrictions,
allowing banks, brokerage firms and insurers to merge into financial holding
companies that would be regulated by the Fed.

The Fed has lent
between
$8 billion and more than $30 billion each week directly to brokerage
firms since
it set up its new program in March. Most experts say this source
of emergency
funding is unlikely to disappear, even though it's scheduled to end in September.

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Ross Perot Launches Public Information Website

PerotCharts.com Illustrates that We Are Running Out Of Time to Stop Deficit Spending

Ross Perot, business leader and former presidential candidate, announced today the launch of “PerotCharts.com,” a public information website that contains objective, factual information about the current economic crisis in America. The site is being launched as an alert and appeal for American citizens to inform themselves about federal government spending. Perot said, “The U.S. national debt reached $9.4 TRILLION on April 30, and it is increasing by more than $1 billion every day. We are leaving our children and grandchildren with debt they cannot possibly pay.”

http://perotcharts.com/challenges/

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ModelVanity.com launches Model Shoot Expo at MV Studios in Southern California, USA

Model Vanity Expo is a series of photo shoot workshops with select photographers to help new and established model talent develop a unique portfolio of images at no cost. This private event offers talent multiple settings and safe surroundings.

RIVERSIDE, Ca. USA, June 19, 2008 / -- IP MicroMedia LLC web property ModelVanity.com (website in development) and Model Vanity Studios today announced a partnership to launch a first of a kind “Model Vanity Expo”. The partnership promises new and established models the chance to work with multiple, selected photographers in the presence of sponsors who may select talent for upcoming projects.

"We are excited about providing all established and new models this great opportunity to showcase their talent and realize their modeling potential," founder Oscar Toscano stated. "Opening our private studio in Riverside, Ca. to this unique casting and offering talent and select photographers a chance to work under our expertise in a nationally known studio lot is great experience and networking opportunity."

“We are using this event as a proving ground for our model shoot expo concept. New and existing talent can come and pose in more diverse surroundings then any “Mansion” or “lot” with talented photographers. There is a four thousand square foot, two story studio building, outdoor water gardens and unique structures and several auto and custom bike props to choose from. All models (glamour, fashion, fetish, bikini, import, Gothic, non-nude) are encouraged to attend this event. We are also providing skilled makeup and hair dressers. Ladies should bring several wardrobe changes to show off all the looks they posses.” added Oscar Toscano.

In addition, several sponsors will be on hand to review talent for potential future modeling opportunities. Authorized media and Spanish television stations will also be on hand to cover this event. Models will receive limited edition Model Vanity Clothing as well. The event concludes with a dinner sponsored by TiosTacos.com at 5pm. After party to follow.

All the talent attending this event will be featured on our site with the best images on display from all participating photographers. Online visitors can learn more about the models and cast their vote for their favorite girl at ModelVanity.NET.

“We have experienced a huge response since we announced this event from talent throughout the area. Over 150 candidates requested to attend this event from every ethnic type, but we are limiting attendance to 30 girls this time, “commented Oscar. “We are still reserving two more spots for one male and one female model that would like to attend.”

The event will kick off at 9 am. with a workshop for all photographers attending. “Using Adobe Lightroom in your digital work flow” will teach basic meta data techniques. A small discussion on ways to earn money from photography will conclude the mini workshop. Presentation is sponsored by ProImageVault.com. Photographers attending are invited to bring reflectors, strobes, or any gear to make the most of our 6 hour event!

Well equipped photographers who wish to attend can register at:
ModelVanityStudios.com

About IP MicroMedia LLC
IP MicroMedia, based in Southern California (with contributors in Mexico City, Miami, San Antonio and Las Vegas), owns ModelVanity.com (MV), a site currently in development. IPMM develops web properties, syndicates event content, and provides AV services for clients on-site. Web 2.0 brands include ModelVanity.com, TodoExito.com, ProImageVault.com, PrintedPix.com, Photofinder360.com, OfficialCoverage.com, Onmoney.NET, Senorita15.com, MotorSportMotion.com and more. More at IPMicroMedia.com

















Ip Micromedia Llc Featured
ModelVanity.com Launches Model Shoot Expo At MV St...
June, 2008 @ 1888PressRelease.com




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Media Alert, IP MicroMedia LLC web development

















Ip Micromedia Llc Featured
ModelVanity.com Launches Model Shoot Expo At MV St...
June, 2008 @ 1888PressRelease.com




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The US Fed trying to Stem a Flood of Barings and BCCI deals




The G8 Summit in Japan was more focused on worldwide inflation and the riots insuing then any talk of the dollar. World Leaders everywhere are starting to feel the wrath of the populace who is falling further behind economically.

The Fed stance is now to combat inflation. If they dont move rates up soon, the market is going to crush the dollar further, so the US has once again managed to put itself in an interesting position. However i think that the Cheap dollar is a policy, in order to "recalibrate external debt" and cheapen the cost of servicing existing debt.

If the world does not quelch the inflation issue (and stop lying about inflation figures) soon, and i mean within another 4 months.. inflation is going to become imbedded in the economy. This is not going to be good and will take us to the next level down and my 2010 doomsday scenario.

Long Term, still bullish on Oil!

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Secretary Paulson Kissingers the Middle East


"I am committed to promoting policies that enhance the underlying competitiveness of the U.S. economy and ensure that the dollar remains the world's reserve currency," Paulson said in a speech to the U.S.-U.A.E. Business Council, which was the final stop on a four-day tour to the Middle East to reassure regional leaders that the U.S. still welcomes their investments.

"I have met with many leaders from the Middle East who ask if the United States really continues to welcome foreign investment," said Paulson. "Some here worry about growing protectionist sentiment in the United States, and they also worry specifically that U.S. sentiment toward Middle East investment has been permanently affected by the Dubai Ports World case.

"We reject measures that would isolate us from the world economy," Paulson said.

TRANSLATION: THE US NEEDS YOUR BILLIONS.
The value of bank stocks in aggregate is about where it was at the height of the Bear Stearns Debacle. And Kudlow talks about GoldiLox?

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