Custom Search

Wednesday, October 22, 2008

Really Scary Fed Charts: OCT, Now Crazy Scary

“Policy makers are trying to prevent “Great Depression II” by stemming the financial industry's contraction.” –Jim Bianco, Bianco Research

Once a month I update and add to a regular series of posts I call Really Scary Fed Charts. I must confess, I missed the September update.

On September 11th in Really Scary Fed Charts About to Get Crazy Scary, I wrote:

“I can tell you right now that going forward these charts are about to go from just “really scary”, to “crazy scary”.

At the time the Federal Reserve was contemplating all sorts of fun new ways to increase the cash it provides to banks and brokers.

The most recent was announced yesterday:

Fed to Provide Up to $540 Billion to Aid Money Funds (Update6): “The Federal Reserve will provide up to $540 billion in loans to help relieve pressure on money-market mutual funds beset by redemptions.

“Short-term debt markets have been under considerable strain in recent weeks” as it got tougher for funds to meet withdrawal requests, the Fed said today in a statement in Washington. A Fed official said that about $500 billion has flowed since August out of prime money-market funds, which with other money-market mutual funds control $3.45 trillion.

The initiative is the third government effort to aid the funds, which usually provide a key source of financing for banks and companies. The exodus of investors, sparked by losses following the bankruptcy of Lehman Brothers Holdings Inc., contributed to the freezing of credit that threatens to tip the economy into a prolonged recession.”

Why the desperate move? Why do money market funds matter so much?

“U.S. money-market mutual funds held more than 63 percent of outstanding unsecured commercial paper and 39 percent of asset- backed commercial paper at the beginning of September, according to Alex Roever, a New York-based analyst at JPMorgan.”

Without liquid money market funds, companies won’t find willing buyers for their unsecured commercial paper and asset backed commercial paper. Companies that are unable to sell such paper may suddenly find themselves in a terrible liquidity crunch with receivables incoming, but too far out and unavoidable expenses such as payroll pending.

So how many different “facilities” does the Fed now employ?

(Want to know more? Click on “WTF?” beside each facility. Surprised? Confused? Angry? Click on “FAQ” beside each facility and have all your questions answered.)

1) Term Auction Facility (TAF) –WTF?FAQ
2) Primary Dealer Credit Facility (PDCF) –WTF?FAQ
3) Term Securities Lending Facility (TSLF) –WTF?FAQ
4) Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (ABCP MMMF) –WTF?FAQ
5) Commercial Paper Funding Facility (CPFF) –WTF?FAQ

As you can imagine, all these facilities have made the Fed charts go from just scary, to crazy scary. To be honest, the worst charts are still to come because the month of October was the scariest and craziest to date, with the Fed intervening almost daily.

Non-Borrowed Reserves of Depository Institutions (BOGNONBR) continue to plummet. This makes sense as under capitalized banks continue to hemorrhage money via outright losses and write downs of over valued assets. The result is that these banks now have to borrow money from the Fed to maintain their reserves so that when you go to the ATM money actually comes out…

This also explains why all interbank lending rates from LIBOR and EURIBOR to HIBOR all did moonshots. You see, there were few banks capable of lending in any size, and even fewer willing.

Total Borrowings of Depository Institutions from the Federal Reserve (BORROW) is the obviously the opposite of BOGNONBR. The numbers are pretty close, plus or minus a couple of billion. Therefore, the borrowed money is clearly flowing straight into the banks where it is desperately needed to keep them liquid.

The BORROWvBOGNONBR chart illustrates the relationship on a single chart.

On top of that, Discount Window Borrowings of Depository Institutions from the Federal Reserve (DISCBORR) have only just recently spiked hard. Discount window borrowings are rapidly approaching $150 billion, despite holding steady at low levels throughout most of the crisis. Clearly, things are getting worse.

The Term Auction Credit (TERMAUC) facility has been capped at $150 billion since June. With nowhere else to turn, desperate banks may be turning to the discount window (DISCBORR). Just a theory…

Adding it all up (or as much of it as the Fed wants you to be able to add up) Total Borrowings of Depository Institutions from the Federal Reserve (TOTBORR) is about $450 billion. Put in context, the IMF, World Bank and CIA World Factbook list US GDP at about $13.8 trillion. That means, total borrowings stand at about 3% of GDP.

Don’t even worry about it though. The gubbermint has got everything under control…
The banks don’t trust each and rightly so. Each bank has marked their own toxic assets to fantasy and know full well all the others have done the same. Each bank knows they’ve overextended and over leveraged themselves during the credit bubble and know full well all the others have done the same.

With the passage of TARP came a small provision that allows the Fed to pay interest on deposits. So these scared banks have plowed back into the Fed banks all the cash they’ve been hoarding as can be seen by Reserve Balances with Federal Reserve Banks (WRESBAL)

An interesting debate took place in the post Really Scary Fed Charts: MAY, False Alarm? between Calculated Risk, MarketTicker and myself:

“Over at CalculatedRisk they are being interpreted as a “false alarm” in Non-Borrow Reserves and the Fed’s Balance Sheet.

Over at MarketTicker they are being interpreted as evidence that “the system as a whole is insolvent” in Tall Tale Tuesday.

While I’m not sure (yet) that “the whole system is insolvent”, I definitely do NOT think this is a “false alarm”.”

The clear winner, much to my dismay, would have to be MarketTicker.

The Really Scary Fed Charts Series:
1) Really Scary Fed Charts, Why Bernanke Will Furiously Cut
2) Fed CHANGES Really Scary Fed Charts
3) Really Scary Fed Charts: MARCH
4) Really Scary Fed Charts: APRIL
5) Really Scary Fed Charts: MAY, False Alarm?
6) Really Scary Fed Charts: JUNE, ‘Just’ 1% of GDP Now
7) Really Scary Fed Charts: JULY, More of the Same
8) Really Scary Fed Charts About to Get Crazy Scary

61 comments:

Ben Bittrolff said...

Heads up,

Two typos in the charts:
1) $1500 billion = $150 billion
2) 30% = 3%

You'll know em when you see em.

Anonymous said...

If MarketTicker was right then, he has some interesting things to say today.

He's a true ray of sunshine in today's markets, you'll agree. ;-) Are you stocking beans and rice yet, Ben?

Anonymous said...

Hey Ben, you laugh at the gold bugs "with their tin hats". And woooh... POG down to $734 right now.
However that CRIMEX price is a BS price. If you want to buy the real stuff you can't get it ! That says $1000 gold WAS NOT a bubble. The Fed is very good at chart painting.
When all your profits from your trading on the short side...and thank you for the APPL put tip around $180, and other excellent shorting opportunities and yes I agree with you we are in deflationary depression...go up in smoke because you find one day your trading account or bank account is frozen or there is a default by the Treasury of the USA, you will wish you had physical gold and /or silver in your possession. I keep my trading account to a minimum because default is on the cards, and the rest goes into GOLD no matter what the price.

Anonymous said...

So given the latent stress in the credit markets, are you thinking about closing out your long positions and going short again?

OkraJoe said...

Thanks for posting. Scary charts. Wish I'd paid more attention in Econ 101 class.

jomama said...

Do you have your donkey yet?

Rocko Chen said...

Good info, keep up the good work.

Anonymous said...

baskets puma future cat low engine noirBon March¨¦ Chaussure Sports Shop:puma future low catChaussure Puma Femme,Chaussure Puma Homme,Chaussure Nike Femme,Chaussure Nike homme,future cat low engineChaussure Sport et plus. Livraison Rapide.Paypal

Anonymous said...


免費視訊聊天,辣妹視訊,視訊交友網,美女視訊,視訊交友,視訊交友90739,成人聊天室,視訊聊天室,視訊聊天,視訊聊天室,情色視訊,情人視訊網,視訊美女
一葉情貼圖片區,免費視訊聊天室,免費視訊,ut聊天室,聊天室,豆豆聊天室,尋夢園聊天室,聊天室尋夢園,影音視訊聊天室,

辣妹視訊,美女視訊,視訊交友網,視訊聊天室,視訊交友,視訊美女,免費視訊,免費視訊聊天,視訊交友90739,免費視訊聊天室,成人聊天室,視訊聊天,視訊交友aooyy
哈啦聊天室,辣妺視訊,A片,色情A片,視訊,080視訊聊天室,視訊美女34c,視訊情人高雄網,視訊交友高雄網,0204貼圖區,sex520免費影片,情色貼圖,視訊ukiss,視訊ggoo,視訊美女ggoo
080苗栗人聊天室,080中部人聊天室ut,ut影音視訊聊天室13077,視訊做愛,kk777視訊俱樂部,上班族聊天室,聊天室找一夜,情色交友,情色貼片,小瓢蟲情色論壇,aio交友愛情館

Anonymous said...

米蘭情趣用品情趣用品情趣飛機杯自慰套充氣娃娃AV女優按摩棒跳蛋潤滑液角色扮演情趣內衣自慰器穿戴蝴蝶變頻跳蛋無線跳蛋電動按摩棒情趣按摩棒丁字褲G點SM後庭

視訊美女視訊做愛


網頁設計

Anonymous said...

花蓮吉安慶修院,花蓮七星潭,花蓮林田山,花蓮,花蓮鯉魚潭,花蓮太魯閣公園,太魯閣砂卡礑,合歡山,九曲洞,七星柴魚博物館,花蓮休閒漁港,瑞穗牧場,台東旅遊,安通溫泉,花蓮景點,立川漁場,太魯閣國家公園,豁然亭,台東景點,七星潭風景區,花蓮海洋公園門票,花蓮兆豐農場,花蓮磯崎,鯉魚潭風景區,太魯閣國家公園,花蓮七星潭,花蓮海洋公園,花蓮金針花,花蓮二日遊,牛山呼庭,知卡宣森林公園,南安遊客中心,花蓮三天兩夜,花蓮住宿,花蓮三日遊,

ralph lauren polo shirts on sale said...

I like your blog very mucn, it's really wonderful, you are quite good at writing.
Lately, I want to keep healthy, so I decide to buy top-grade prince tennis rackets, I look for many shops, where sell perfect tennis racquets. Meanwhile, I also want to buy the high-tech babolat tennis rackets, I surf the net very often, and at the same time, I also ask others if they know the place, finally, I find this tennis store.
By the way, do you know cheap polo clothing? Do you want to be a focus no matter wherever you go? You can put on the most popular red polo shirts. you will be the most shining person wherever you go only if you dress in striped polo shirt.
Would you want to attracte others' eyes? If your answer is "Yes", you can wear north face jacket, in this beautiful season, you really need a suit of ralph lauren polo shirt
. They can make you become the attactive person.
prince tennis racquets
cheap head tennis racquet
superior wilson tennis racquets
babolat tennis racket
head tennis rackets
babolat racquet
wilson tennis racquets
spyder jackets
columbia jackets
beautiful north face jacket
burbeery polo shirts
lauren polo short sleeves shirt
lovers clothes
polo pants
cotton ralph lauren shirt
new ralph lauren vest
black ralph lauren jacket
polo women's jacket
Ralph Lauren shirt
cheap ralph lauren shirts
Ralph Lauren clothing

cheap nike shoes said...

Truely a nice blog and thanks for your great work. By the way,welcom to our websites: puma shoesandEd Hardy. We provide cheap sport shoes which are brand new and in perfect condition but on discount, including the popularNIKE SHOX TORCH, puma mens shoes , cheap nike shox shoes and so on. Nothing would be more suitable than the nike shox r4 and Nike air max tn for the people like runing. Authentic Nike Air Max Tn ,nike tn dollar and cheap puma shoes are available on our sites. the nike shox shoes is fitting to running. Wholesale and retail are both acceptable to us. Welcome to our site and free to look! Thank you and wish you a nice day. Good Luck!
As we all know, Ed Hardyis the world famouse clothing brand famouse for the ed hardy jeans, ed hardy clothing, ed hardy t shirts for men,mens edhardy jeans,womens edhardy boots , ed hardy womens t shirts. All of the product of ed hardy are popular around the world. In addition, the ed hardy accessories such as edhardy sunglasses,edhardy hats,edhardy womens handbags are also available on our sites. For the youth who like to pursue fashion and show their personalities, the Ed Hardy Hoodies, ed hardy christian audigier, Ed Hardy Trousers, , ed hardy dresses, ed hardy love kills slowly shirt, ed hardy womens t shirts, ed hardy t shirts sale are necessary. Do NOT miss it! Wholesale and retail are both acceptable to us. Welcome to our site and free to look! Thank you and wish you a nice day. Good Luck!

ghd hair straighteners said...

Very good!I like the blog , Thanks .
polo hoodies, spyder jacket, cheap spyder jacket, the north face jackets, polo shirts, ed hardy hoodies, polo long sleeves shirts, norther face jacket, POLO jacket, ed hardy boots, ed hardy shoes, ed hardy jacket, ed hardy ugg boots, Babolat Tennis Racquets, Tennis Racquets, nike shoes, puma shoes, nike air max, nike shox nz,
spyder jackets,
discount spyder jacket,
ghd hair straighteners,
cheap ghd hair straighteners,
ugg boots,
cheap ugg boots,

Anonymous said...

Hello, wonderful blog!thank you. By the way,here we offer a lot of good nike shoes,you can come to have

a look.
nike tn
nike shoes
nike chaussures
nike shox
tn chaussures
nike tn
tn chaussures
nike air max
sneakers
shox oz
nike air rift
nike shox monster
nouvelle nike shox
nike shox rival
nike air max 360
men's nike shoes
nike shox monster
nike store
puma
puma chaussures
nike shox r4
nike air max
achat nike shox
cheap nike shoes
cheap uggs
nike shoes
nike shox nz
enfant chaussures
nike tn requin
nike tn
junior chaussures
chaussures nike shox
acheter chaussures homme
tn chaussures
chaussures sport
nike air jordan
nike air max tn

Unknown said...

The cold winter, does not seem too for wedding. Most recently, the cold one after another, hangzhou air

temperature pelter, let many wedding in late November bride is due a single wear gauze or dress, will

feel cold, wear too much and feel very bloated. For the bride, the winter is the biggest test how wedding

in temperature and balance between poise.

Don't be too upset, actually this season only fees cheap Wedding Dresses, marriage can create a different character

"winter wedding", also more memorable.

You can use the glittering and translucent white fairy tale, cheap cell phones
,the artistic conception to dress up oneself's wedding, choose blue, green, white ice cold tonal,

decorous atmosphere to create beautiful, Can borrow snow machine and bubble machine build indoor romantic

atmosphere, snowflake, feathers, Christmas tree,cheap cocktail dresses, even is the element such as silver crystal,

can add to your winter wedding dreamy colour, cheap jewelryyou can even in a pile of snowman YingBinChu lovely, guests,

we must take it and will soon be well.
On New Year's hottest r306c SONY Ericssoncheap cell phones

wholesale
, r306 first win in shape, give a person the feeling of professional and heavy. Its

design clamshell has hidden qualities. Although the low-end market positioning, introduction, SONY

Ericsson R series launched two must let those radio enthusiasts. And there are cheap ones, let the

public mobile phonewholesale of delight

The word "shanzhai" is very popular in China. It is industry phenomenon of imitation, high quality

and low price. Moreover, cell phones are the

representative of them.The global financial crisis led to a significant shri10:25 2009-12-26 nkage

of assets for people. "china wholesale" demonstrate the

might. most of them would like buy the cheap cell phonesnow .

Through google search engine, when you put in "discount cell
phones", you will find more than 15,000 pieces of related information.Cell phone china has been concerned

in the world. Many

international sellers can get a considerable profit by ways of wholesale cell phones from China and

switch selling. So it is a very

good job on cell phones wholesale in the current cosplay costumes

Wholesale Polo Shirts
Ralph Lauren Polo Shirts
Discount Ralph Lauren Polos

Unknown said...

ghd hair straighteners babyliss pro 230 ceramic Pro 230 Elegance Pro 230 Straight & Curl Total Freedom 230 Benefit GHD IV Styler GHD Benefit Limited Edition GHD IV Salon Styler GHD MINI STYLER GHD Precious Gift GHD Rare Styler GHD Rare Limited Edition Gold GHD IV Styler Kiss GHD Kiss GHD styler Pink GHD IV Styler Pink GHD IV Styler Pink GHD IV Styler Pink GHD IV Styler Pure Black GHD Pure White GHD

Unknown said...

Purple GHD IV Styler Purple GHD ghd hair straighteners ghd mk4 straighteners pink ghd hair straighteners pink ghd hair straighteners pink ghd straighteners pink ghd straighteners hair straightners cheap straighteners GHD HAIR hair straighteners ghd hair straighteners ceramic flat iron straightening iron ceramic hair straightener ceramic straightener best hair straightener Armani Sunglasses Armani New Styles sunglasses Armani Sunglasses Burberry Sunglasses Cartier Sunglasses Cartier goggles sunglasses Cartier Sunglasses Chanel Sunglasses Chanel New Styles sunglasses

Unknown said...

Chanel sunglasses Coach sunglasses D&G Sunglasses Dior Sunglasses ED Hardy Sunglasses ED New Styles sunglasses ED hardy sunglasses Fendi Sunglasses Gucci sunglasses Gucci New Styles sunglasses Gucci sunglasses LV sunglasses LV New style Sunglasses LV sunglasses Oakley sunglasses Police sunglasses Prada sunglasses Ray Ban Sunglasses Ray Ban New Styles Sunglasses Ray Ban Sunglasses Roberto Cavalli Sunglasses Versace Sunglasses cheap gucci sunglasses cheap Prada sunglasses cheap D&G Sunglasses discount gucci sunglasses discount Prada sunglasses discount D&G Sunglasses cheap Oakley sunglasses discount Oakley sunglasses fashion brand sunglasses paul smith bags paul smith jeans

Unknown said...

paul smith shirts paul smith shoes paul smith suits paul smith wallet paul smith burberry bur berry burberry outlet burberry bags burberry boots Burberry Prorsum Burberry Scarves Burberry Shoes Burberry Sunglasses Burberry Watches Burberry bag Burberry Shirts Burberry Shirt

sunny said...

mbt
mbt sandals
mbt sale

mbt
mbt sandals
mbt sale

mbt
mbt sandals
mbt sale

mbt
mbt sandals
mbt sale


mbt
mbt sandals
mbt sale

mbt
mbt sandals
mbt sale

Unknown said...

Truely a nice blog and thanks for your great work.I have carefully read your Bo-wen,By the way,Do you knowcheap shoes store,Many people like it.and Thecheap polo shirtsThey sell are very good,Of course, this also includes theNFL Jerseys.People are like sports, I believe you are also.So,you must be like Cheap Nike Shoesand we are familiar with Air Jordan Shoes.these will make you eyes bright, bring you a special experience.Do NOT miss it!

Truely a nice blog and thanks for your great work. By the way,welcom to our websites:polo shirtsWe providewholesale polo shirtsWholesale and retail are both acceptable to us. Welcome to our site and free to look! Thank you and wish you a nice day. Good Luck!All of the product are popular around the world. In addition chaussures puma.Do NOT miss it! Wholesale and retail are both acceptable to us. Welcome to our site and free to look! Thank you and wish you a nice day. Good Luck!

Unknown said...

Heads up,

NFL Jerseys
tn chaussures
chaussures puma
Tn Requin

Unknown said...

Thanks for your post , it is very nice and helpful .
NFL Jerseys
tn chaussures
Thanks for sharing . great article .

Unknown said...

Thanks for sharing . great article . all our products are top quality and low prices .
would you like something to buy ? for example clothes and shoes . ok ! follow me !
chaussures puma
Tn Requin
Cheap Polo Shirts
Thanks for your post , it is very nice and helpful

Unknown said...

Recently I found several very good shops in the Internet,having the
designer sunglasses. I woule like to share with you Cheap shoes online,and
Chaussures SportMBT shoes on sale, They are high quality but At the same time, I also found a Wholesale Polo Shirts shop online,and some good quality but cheap cell phones,you can load these site yourselves.

men's clothing said...

I feel honored and privileged after reading your posts.You know,summer is coming! chaussures homme online .The chaussures homme nike will become fashionable soon.We offer chaussures homme nike,all kinds,all colors available.You can also find homme chaussure in our shop,including hommes chaussures,Nike Shox NZ,Nike Shox R4.Best wishes to you!
chaussures mbt homme
chaussures mbt femme
chaussures homme nike

nike air max 180
nike air max 95
nike air max 90
nike shox r6
nike shox r3
nike shox r4
nike shox r5
nike shox nz
nike tn dollar
chaussures femme nike

agatha said...

http://benbittrolff.blogspot.com/2008/10/really-scary-fed-charts-oct-now-crazy.html

aai333 said...

Nice article written by you
Nicediscount nike dunk
articlecheap nike shoes
writtennike dunk outlet
byChristian Louboutin shoes
youChloe outlet
cheap Chloe bags
discount Chloe bags
newest Chloe shoes
Chloe bags 2010
Chloe totes
bape shoes outlet
bape clothing
discount bape shoes
cheap bape shoes
bape jackets
wholesale ed hardy
ed hardy wholesale
discount ed hardy
MBT boots
MBT shoes in fashion
cheap mbt shoes sale
discount mbt outlet 2010
MBT Walking Shoes
Purple GHD
Moncler
Moncler jackets
Moncler coats
Moncler Vest
Moncler outlet
discount moncler Tshirt
air jordan 2010
cheap jordan shoes
discount jordan shoes
jump man 23
cheap ugg boots
discount ugg boots
ugg boots

ai said...

ugg boots
polo boots
polo shoes

herve leger
herve leger handage dress

chanel outlet
chanel handbags
chanel bags
chanel iman

ralph Lauren polo
ralph lauren outlet
lacoste polo
polo raplh lauren

air jordan 2010
cheap jordan shoes
jordan ajf shoes
discount jordan shoes
jumpman23

moncler
moncler jackets
moncler coats
moncler vest
moncler outlet
moncler Polo t shirt
cheap five finger shoes

ai said...

ugg boots
polo boots
polo shoes

herve leger
herve leger bandage dress

chanel outlet
chanel handbags
chanel bags
chanel iman

ralph Lauren polo
ralph lauren outlet
lacoste polo
polo raplh lauren

air jordan 2010
cheap jordan shoes
jordan ajf shoes
discount jordan shoes
jumpman23

moncler
moncler jackets
moncler coats
moncler vest
moncler outlet
moncler Polo t shirt
cheap five finger shoes

kiss ghd

Michelle said...

Excellent point here. I wish there are more and more glasses articles like that.

I appreciate your bright ideas in this eyeglasses online article. Great work!

This eyewear article is definitely eye-opening and inspiring.

I really like this cheap eyeglasses article, and hope there can be more great resources like this.

You have given us some interesting points on prescription glasses. This is a wonderful article and surely worth reading.

Great resources of cheap kids glasses! Thank you for sharing this with us.

I totally agree with you on the point of child glasses. This is a nice article for sure.

We share the opinion on kids sunglasses and I really enjoy reading your article.

Thank you so much for sharing some great ideas of unisex glasses with us, they are helpful.

I love this unisex eyeglasses article since it is one of those which truly convey useful ideas.

Bright idea, hope there can be more useful articles about metal eyeglasses.

Good job for writing this brilliant article of plastic glasses.

Great article, it's helpful to me, and I also like the useful info about plastic eyewear.

What an inspiring article you wrote! I totally like the useful titanium eyeglasses info shared in the article.

I am glad to read some fantastic aviator glasses article like this.

It has been long before I can find some useful articles about aviator eyewear. Your views truly open my mind.

Your do have some unique ideas here and I expect more wood-like eyeglasses articles from you.

I greatly benefit from your articles every time I read one. Thanks for the rimless glasses info, it helps a lot.

This is the best rimless eyewear article I have ever found on the Internet.

I like your ideas about wood-like eyewear and I hope in the future there can be more bright articles like this from you.

Michelle said...

Great resources of nds card! Thank you for sharing this with us.

Thank you so much for sharing some great ideas of nintendo ds with us, they are helpful.

I love this ez flash vi article since it is one of those which truly convey useful ideas.

Good job for writing this brilliant article of dstti card.

Excellent point here. I wish there are more and more m3 dsi articles like that.

It has been long before I can find some useful articles about r4. Your views truly open my mind.

Great article, it's helpful to me, and I also like the useful info about r4 dsi.

This is the best r4 sdhc article I have ever found on the Internet.

I appreciate your bright ideas in this ak2i cards article. Great work!

I totally agree with you on the point of acekard 2i. This is a nice article for sure.

I really like this tti upgrade article, and hope there can be more great resources like this.

Bright idea, hope there can be more useful articles about nintendo ds card.

What an inspiring article you wrote! I totally like the useful dstti adv price info shared in the article.

We share the opinion on DSTT cards for dsi and I really enjoy reading your article.

I like your ideas about M3 Adapter and I hope in the future there can be more bright articles like this from you.

I greatly benefit from your articles every time I read one. Thanks for the r4i gold info, it helps a lot.

Your do have some unique ideas here and I expect more R4 Revolution for DS articles from you.

I am glad to read some fantastic Acekard AK2i article like this.

This ak2i ds lite article is definitely eye-opening and inspiring.

You have given us some interesting points on Acekard 2i dsi 1.4. This is a wonderful article and surely worth reading.

Unknown said...

My favorite brand is ed hardy wholesale, and I always want this brand of
wholesale handbags. And its T-shirts are very special too. I really hope I can wear its
wholesale t-shirtsto go to school and go shopping with my friends, and it will be awesome. And most of my friends like the Ed Hardy style too.
However, this brand is too expensive for me to buy. An Ed Hardy Nike wholesale cost nearly 250 dollars. It is almost a cost of my living of mouth. I am only an ordinary student who has no trust fund; no job and no income that I can’t afford to pay such high price for its sunglasses wholesaleor wholesale ghd. So, I won’t buy the Ed Hardy brand series at least for now.

Unknown said...

GHD Mini Styler|Nike air jordan 2010|cheap Jordan shoes|discount jordan shoes|jordan|jumpman23|Jordan ajf shoes|NFL JERSEYS|NBA JERSEYS|NHL JERSEYS|MLB JERSEYS|FOOTBALL JERSEYS|NFL|NBA|NHL|MLB|spyder|spyder jackets|spyder ski wear|
cheap ugg boots|discount ugg boots|ugg boots|classic ugg boots|ugg classic tall boots|cheap ugg boots|discount ugg boots|ugg boots|classic ugg boots|ugg classic tall boots|

Unknown said...

vibram kso
vibram running shoes
MBT boots
MBT shoes in fashion
cheap mbt shoes sale
discount mbt outlet 2010
MBT Walking Shoes

spyder
spyder jackets
spyder ski wear
coach outlet
coach handbag
coach handbags
coach bag
coach bags


spyder
spyder jackets
spyder ski wear

spyder
spyder jackets
spyder ski wear

ugg boots
ugg boots cheap
discount ugg boots
classic ugg boots
ugg classic tall boots
GHD Mini Styler

cheap ugg boots
discount ugg boots
ugg boots
classic ugg boots
ugg classic tall boots

Anonymous said...

After read your post,I got some very inportant information.Very thanks.But I have some new style,new design,cheap price shoes.I hope everyone like them.
lyle and scott polo shirt
mens lyle and scott
cheap lyle and scott
lyle and scott jacket
lyle and scott wholesale
puma Future cat
femmes mbt chaussures
puma Drift cat
Nike Air Max 2009
Nike Air Max 360
Nike Air Max TN
Nike Air Max
Nike Air Max TN Dollar
Nike Shox NZ
Nike Shox R4
Nike Shox Torche
Nike Air Max TN 2
Nike Air Max TN
Nike Shox R4
MBT kisumu sandal
discount mbt chaussure
mbt chaussure wholesale
puma Kart cat
nike tn requins
MBT CHAUSSURE FEMME
MBT CHAUSSURE HOMME
MBT KISUMU sandal
Nike Shox R4
Nike Shox R4 Cartoon
Nike blazer high
Nike blazer low
Nike Tn Net
Nike Air Max 360

Unknown said...

NewStreetFashion
Ed Hardy
stylish design
Ed Hardy Wholesale
fashion excellent quality
wholesale Ed Hardy
ED Hardy clothing bring you a super surprise!
ed hardy wholesale clothing
The quality is so good
christian audigier
Young and creative style
abercrombie and fitch
You can have a look at it.
abercrombie & fitch

Unknown said...

NewStreetFashion
Ed Hardy
stylish design
Ed Hardy Wholesale
fashion excellent quality
wholesale Ed Hardy
ED Hardy clothing bring you a super surprise!
ed hardy wholesale clothing
The quality is so good
christian audigier

louis vuitton damier neverfull mm said...

http://blimptv.blogspot.com/2009/01/dean-and-don-world-tour-kkdj-breakfast_18.html

louis vuitton tivoli pm said...

If Louis Vuitton Colour-transition Bag with a Furry Tail lack confidence in the degree to which the green bag can get along with other colours of your attire, this incredible Louis Vuitton Bags would convince you with louis vuitton neverfull mm magical colour-transition skills. vernis alma would turn into primrose-and-pink after several times of getting washed. The process of colour changing actually means your showtime. With the long tassles hanging from the aaa designer handbags adjustable strap, the bouncy furry tail and the graceful leisure Louis Vuitton monogram embossment, you can't even believe how glam you're in other folk's eyes!

combattery84 said...

Dell GK479 battery
Dell PC764 battery
Dell KD476 Battery
Dell Inspiron 1150 battery
Dell inspiron 8500 battery
Dell Inspiron 4100 battery
Dell Inspiron 4000 battery
Dell Inspiron 8200 battery
Dell FK890 battery
Dell Inspiron 1721 battery
Dell Inspiron 1300 Battery
Dell Inspiron 1520 Battery
Dell Latitude D600 Battery
Dell XPS M1330 battery
Dell Latitude D531N Battery
Dell INSPIRON 6000 battery
Dell INSPIRON 6400 Battery
Dell Inspiron 9300 battery
Dell INSPIRON 9400 Battery
Dell INSPIRON e1505 battery
Dell INSPIRON 2500 battery
Dell INSPIRON 630m battery
Dell Latitude D820 battery
Dell Latitude D610 Battery
Dell Latitude D620 battery
Dell Latitude D630 battery
Dell xps m1210 battery
Dell e1705 battery
Dell d830 battery
Dell inspiron 2200 battery

combattery84 said...

Thinkpad x41 battery
SONY VGP-BPS2 Battery
SONY VGP-BPS2C Battery
SONY VGP-BPS5 battery
SONY VGP-BPL2C battery
SONY VGP-BPS2A battery
SONY VGP-BPS2B battery
SONY PCGA-BP1N battery
SONY PCGA-BP2E battery
SONY PCGA-BP2NX battery
SONY PCGA-BP2S battery
SONY PCGA-BP2SA battery
SONY PCGA-BP2T battery
SONY PCGA-BP2V battery
SONY PCGA-BP4V battery
SONY PCGA-BP71 battery
SONY PCGA-BP71A battery
SONY VGP-BPL1 battery
SONY VGP-BPL2 battery
Sony vgn-t2xp/s battery
Sony vaio vgn-s4xp battery
Sony vaio pcg-z1rsp battery
SONY NP-FT1 battery
SONY NP-FC10 Battery
SONY NP-F330 Battery
SONY NP-F550 Battery
SONY NP-FM50 Battery
SONY NP-FP50 Battery

Unknown said...

Cheap Christian Louboutin Shoes
cheap air jordan shoes
Ralph Lauren Polo Shirts
Nfl jerseys

Christian Louboutin Sandals
nike air jordan shoes
Polo Shirts
Nhl jerseys

Unknown said...

cheap ugg boots
cheap ugg boots
Christian Louboutin Pumps
ugg winter boots
ugg winter boots
Buffalo Bills jerseys
ugg boots on sale
Bailey Button Uggs
Christian Louboutin Sandals
Bailey Button Uggs
Cardy Ugg Boots
Cheap Christian Louboutin
Cardy Ugg BootsClassic Crochet Uggs
New Style Christian Louboutin

Anonymous said...

ACER TravelMate 240 Battery
ACER BT.00803.004 Battery
ACER Travelmate 4002lmi battery
Acer travelmate 800 battery
Acer aspire 3613wlmi battery
Travelmate 2414wlmi battery
Acer batcl50l battery
Acer Travelmate 2300 battery
ACER aspire 3610 battery
ACER travelmate 4600 battery
Dell Latitude D800 battery
Dell Inspiron 600m battery
Dell Inspiron 8100 Battery
Dell Y9943 battery
Dell Inspiron 1521 battery
Dell Inspiron 510m battery
Dell Latitude D500 battery
Dell Latitude D520 battery
Dell GD761 battery
Dell NF343 battery
Dell D5318 battery
Dell G5260 battery
Dell Inspiron 9200 battery
Dell Latitude C500 battery
Dell HD438 Battery
Dell GK479 battery
Dell PC764 battery
Dell KD476 Battery
Dell Inspiron 1150 battery
Dell inspiron 8500 battery
Dell Inspiron 4100 battery

Anonymous said...

Dell Inspiron 4000 battery
Dell Inspiron 8200 battery
Dell FK890 battery
Dell Inspiron 1721 battery
Dell Inspiron 1300 Battery
Dell Inspiron 1520 Battery
Dell Latitude D600 Battery
Dell XPS M1330 battery
Dell Latitude D531N Battery
Dell INSPIRON 6000 battery
Dell INSPIRON 6400 Battery
Dell Inspiron 9300 battery
Dell INSPIRON 9400 Battery
Dell INSPIRON e1505 battery
Dell INSPIRON 2500 battery
Dell INSPIRON 630m battery
Dell Latitude D820 battery
Dell Latitude D610 Battery
Dell Latitude D620 battery
Dell Latitude D630 battery
Dell xps m1210 battery
Dell e1705 battery
Dell d830 battery
Dell inspiron 2200 battery
Dell inspiron 640m battery
Dell inspiron b120 battery
Dell xps m1210 battery

cashback said...

Cashback electronics shop

Anonymous said...

Original Instyler Rotating Hot Iron flat iron

There's coarse hair, chi flat ironcurling the top removed. Straighten the thick curly hair! All with less frying, heat-drying.
The secret chi flat irons lies in its Instyler rotating polishing cylinder and four rows of precision-oriented bristles.

wholesale electronice said...

The blog is good one. I like the design of the blog engine.

cocktail dresses said...

The blog is good one. I like the design of the blog engine.

Unknown said...

Nike Air Max 2011
Nike Air Max Shoes
Nike Air Max
Nike Air Max Wildwood Supreme
Nike Air Max Turbulence
Nike Air Max Skyline
Nike Air Max Goadome
Nike Air Max Fitsole
Nike Air Max Zenyth
Nike Air Max Boots
Nike Air Max Zoom Kobe
Nike Air Max Tn
Nike Air Max LTD
Nike Air Max Presto
Nike Air Max BW
Nike Air Max 24 7
Nike Air Max 2010
Nike Air Max 2011
Nike Air Max 2009
Nike Air Max 95
Nike Air Max 91
Nike Air Max 87
Nike Air Max 180
Nike Air Max Griffey Max 1
Nike Air Max 90
Nike Air Max 1
Abercrombie and Fitch London
Abercrombie & Fitch Clothes
Vibram Shoes
Cheap Air Max

william said...

Simple post but great expression of thoughts.. how do you do that? i think your a veteran blogger! am i right?

anyway I'm william
mind if I put a link back to you?


(clickable) ------> Dress Suits

gud uk said...

http://astuteblogger.blogspot.com/2008/09/was-communist-frank-marshall-davis.html
http://asweetfantasy.blogspot.com/2008/01/pop-tarts.html
http://availnet.blogspot.com/2007/04/technorati-favorite-exchange.html
http://axecollectorblog.blogspot.com/2007/10/my-brush-with-badness.html
http://backtrack4.blogspot.com/2009/02/backtrack-4-beta-shmoo-release.html
http://baracksteleprompter.blogspot.com/2009/03/im-not-getting-paid-enough.html
http://baracksteleprompter.blogspot.com/2009/04/about-that-speech.html
http://bartholomewcubbins.blogspot.com/2006/10/bc-on-autism-17-pcr-primer.html
http://bell-wether.blogspot.com/2006/11/top-10-worst-internet-acquisitions.html
http://benbittrolff.blogspot.com/2007/10/ominous-hindenburg-omen.html
http://benbittrolff.blogspot.com/2008/01/really-scary-fed-charts-why-bernanke.html
http://benbittrolff.blogspot.com/2008/03/really-scary-fed-charts-march.html
http://benbittrolff.blogspot.com/2008/04/really-scary-fed-charts-april.html
http://benbittrolff.blogspot.com/2008/05/really-scary-fed-charts-may-false-alarm.html
http://benbittrolff.blogspot.com/2008/06/really-scary-fed-charts-june-just-1-of.html
http://benbittrolff.blogspot.com/2008/06/three-hindenburg-omens-since-june.html
http://benbittrolff.blogspot.com/2008/10/really-scary-fed-charts-oct-now-crazy.html
http://benbittrolff.blogspot.com/2008/11/really-scary-fed-charts-nov-us-bankrupt.html
http://benbittrolff.blogspot.com/2009/01/really-scary-fed-charts-master-plan.html
http://bestblogbasket.blogspot.com/2007/05/blogging-networks-top-5-pros-and-cons.html

Nike mercurial soccer cleats said...

I like football, prefer the beautiful and stylish football shoes to introduce New nike soccer shoes.

thatverygood said...

What is a BPU(TM)'d Supra Nike Zoom Kobe 1 TT's top speed?

Speeds in the mid-high 180mph range should be New Balance 1500 Shoes achievable. Once the speed-limiter is disabled, by pulling Supra Cuban 1.5 Shoes the "TRAC" fuse of course Lebron James Sneakers.

Will the life of my Engine Adidas EQT Water Grip Shoes and Drivetrain be adversely Les Femmes de UGG Broomeaffected with the BPU(TM) mods?

Your Escort Agency said...

Your Escort Agency offers exclusive and most beautiful London escort girls of various nationalities.

ugg clearance sale said...

The EVA outsoles current provides a great offer of traction and cushioning and stay obvious of any probabilities of strain inside the feet.Moncler Online one can stays apart from a great offer of discomfort even although placing on this sort of beautiful UGG boots.Ugg Boots Outlet UGG boots from Mezoboots.Ugg Outlet Store com are quite lightweight and so are designed of EVA/rubber.Uggs boots uk These UGG boots are built to ensure which they could possibly be used devoid of socks only. Our boots that take place to be designed of pure sheepskin are this sort of which they adjust by themselves according for the dimension by stretching the leather.Ugg Clearance Sale I do not experienced very much make any difference picking among several possibilities current inside the website.ugg outlet It's effortless to decide on the size, the colours as well as the design and design that you simply need within your UGG boots within your website.Ugg Boots Clearance Sale I acquired my pair of UGG boots within of 5 times of placing my purchase inside the internet website - mazoboots.com. The UGG boots that take place to be supplied inside the internet website are also not prized the sky.uggs clearance Most using the traditional assortment is supplied for much lower than hundred dollars.uggs clearance That is typically a wonderful bargain and I am preparing to purchase one more one. subsequent all, these quite brightness unwanted fat UGG boots can perform wonders to feet. blog.ugg boots usa. Ugg UK. Ugg Boots Outlet. ugg australia uk. Ugg Boots UK. Ugg Online Store

Unknown said...

2011 Uggs clearance you to Own Suede Tall Boots,the genuine sheepskin and lightweight sole bring the warm and relief feeling to you,Ugg Australia Boots online store for you to Buy excellent one to adjust to meet your shape of your feet, much sale price in Uggs nederland online for you Enjoy!UGGS are also in all size that will fit every member of your family both from the very young to the very old. Although you may have no difficulty in finding the perfect size boot for you, you may have difficulty in deciding what color you want. In this paragraph of snow ugg australia boots are very ladies like. This type of boots have prevent slippery, warm and wear-resisting function. Especially in the cold winter, can be Ugg outlet store sudden them out to keep warm and comfortable characteristics. They are your best companion in winter.


Cheap Moncler Online Shop is very modest,because the discount Moncler Outlet Store,can help you grasp the beauty of a woman's eye,you collect a lot of online Moncler Boots,your whole world seems warm and stylish.In the winter,Womens Moncler always seize the audience's attention,there is no beautiful style,both warm and comfortable,classic. Moncler sale Therefore,the soft winter fashion discount Moncler Online become the first choice and a single product.Moncler 2011 will not let you down for sure. Our Moncler Outlet Store presents many different products.

muebles majadahonda said...

It cannot have effect in reality, that is what I think.

London escorts said...

Bestescort4U agency provids best London escorts companionship in the UK.