Signals Weidmann-Bundesbank profit will be crimped by reserves

Signals Weidmann-Bundesbank profit will be crimped by reserves BERLIN (Reuters) - The Bundesbank profit turned over to the federal government will be considerably smaller this year than in 2011 due to the risk provisions linked to the euro zone crisis, central bank president Jens Weidmann was quoted telling Der Spiegel. Weidmann said the German central bank had to raise its reserves due to the greater risks and had consulted with its accountants. In 2012 the Bundesbank had a 2.2 billion euro profit and set aside 1.6 billion for risks. 'The distributed profit will be considerably less than last year,' Weidmann said, without providing any specific numbers. Weidmann also said that he had doubts whether European central banks will be able to make a profit on Greek sovereign bonds that euro zone countries are eager to use as part of the latest Greek bailout. 'It's assumed that the central banks will earn a profit from purchasing the bonds. But that is not certain at all. On the contrary, the balance sheet risks have increased. And that affects not only the Greek bonds but also all the extraordinary monetary measures related to the crisis.' (Reporting By Erik Kirschbaum; Editing by Elaine Hardcastle)

Oil LDSI - Turning Higher?

Oil

LDSI has been in a tremendous tailspin the last two months.  The stock has seen a bevy of selling bring the stock to fresh new lows for the year.

However the last two trading session reveal a stock that may be starting to turn higher.  Today and Friday the stock was able to over comb selling pressure and post gains.  Today we had strong buying volume and the stock looks poised to break out of its two month slump.

The stock was over $.07 last month and closed today at $.0031.  We could see a sharp rally out of these oversold conditions.

Backstage Vibe(TM) Testing Features and Functionality

Marketwire   'Press Releases'
NEW YORK, NY -- (Marketwire) -- 08/20/12 --
Backstage Vibe™ (PINKSHEETS: LDSI) has created an incredibly creative and groundbreaking web platform for artists, their adoring fans, music promoters and producers. The company is currently testing all of the features and functionality to ensure that customers can't resist coming back after their initial experience.



Backstage Vibe™ promises the ultimate social music experience and has provided screenshots to showcase the streamlined and powerful functionality. The online store enables artists, music labels, and others to present and sell their products and services. The web platform provides artists with an option to create their own personal store open to the community that then feeds into a larger store open to the public.



Another exciting feature is the incorporation of SoundCloud, which will serve as an incredible resource for music integration and critical feedback, facilitate collaboration and provide ease of sales. Backstage Vibe™ will also offer a file sharing feature that will accommodate professional audio software file formats (such as ProTools files) to further optimize artists' and bands' ability to collaborate at a professional level.



These are but a few of the features and functionality already built into the web platform. As you can see from the screenshots, Backstage Vibe™ is providing artists the tools to chart their own course, whether it's promoting their art, collaborating with other artists or selling their music, goods and services.



Artists, producers, promoters, fans, and music aficionados can pre-register for the innovative social music site at www.BackstageVibes.com. Pre-registrants will receive 2 months of the service FREE when the full site goes live.



About Life Design Station International, Inc.

Life Design Station International, Inc. (LDSI) is a music-inspired corporation. The Company empowers artists, producers and other music professionals to reach millions of potential customers. Life Design Station International, through its Internet-based division, develops and directs an innovative global social platform allowing artists from the U.S. and the world to interface collaboratively in order to promote, produce and sell their musical artistry. LDSI's Backstage Vibe™ provides a leading-edge, secure and user-friendly environment for the sale, distribution and securing of world talent from one source.



Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2070780

CONTACT:
Life Design Station International, Inc.
info@backstagevibes.com

Source: Life Design Station International, Inc.

Forex PPLT had a big eversal

Forex

After spending many days going sideways, the indexes had a breakout to upside. The Nasdaq 100 continues to lead. Small caps had 2 nice up days.

One of the better looking ETF setup was on PPLT, which is a Platinum ETF. It had a big reversal after being in downtrend for sometime. 

Oil August 20th Penny Stock Winners, Losers, and Stock Scans

Oil

Today's Winners and Losers

Today's Bottom Scan

Earn Germany wants Greece to give up budget control

Earn Germany wants Greece to give up budget control RELATED QUOTES Symbol Price Change TRI 27.82 -0.10 Related Content A Greek national flag flies at the archaeological site of the Acropolis Hill in Athens November 3, 2011. REUTERS/John Kolesidis A Greek national flag flies at the archaeological site of the Acropolis Hill in Athens November 3, 2011. REUTERS/John Kolesidis By Noah Barkin BERLIN (Reuters) - Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday. 'There are internal discussions within the Euro group and proposals, one of which comes from Germany, on how to constructively treat country aid programs that are continuously off track, whether this can simply be ignored or whether we say that's enough,' the source said. The source added that under the proposals European institutions already operating in Greece should be given 'certain decision-making powers' over fiscal policy. 'This could be carried out even more stringently through external expertise,' the source said. The Financial Times said it had obtained a copy of the proposal showing Germany wants a new euro zone 'budget commissioner' to have the power to veto budget decisions taken by the Greek government if they are not in line with targets set by international lenders. 'Given the disappointing compliance so far, Greece has to accept shifting budgetary sovereignty to the European level for a certain period of time,' the document said. Under the German plan, Athens would only be allowed to carry out normal state spending after servicing its debt, the FT said. 'If a future (bail-out) tranche is not disbursed, Greece cannot threaten its lenders with a default, but will instead have to accept further cuts in primary expenditures as the only possible consequence of any non-disbursement,' the FT quoted the document as saying. The German demands for greater control over Greek budget policy come amid intense talks to finalize a second 130 billion-euro rescue package for Greece, which has repeatedly failed to meet the fiscal targets set out for it by its international lenders. CHAOTIC DEFAULT THREAT Greece needs to strike a deal with creditors in the next couple of days to unlock its next aid package in order to avoid a chaotic default. 'No country has put forward such a proposal at the Eurogroup,' a Greek finance ministry official said on condition of anonymity, adding that the government would not formally comment on reports based on unnamed sources. The German demands are likely to prompt a strong reaction in Athens ahead of elections expected to take place in April. 'One of the ideas being discussed is to set up a clearly defined priorities on reducing deficits through legally binding guidelines,' the European source said. He added that in Greece the problem is that a lot of the budget-making process is done in a decentralized manner. 'Clearly defined, legally binding guidelines on that could lead to more coherence and make it easier to take decisions - and that would contribute to give a whole new dynamic to efforts to implement the program,' the source said. 'It is clear that talks on how to help Greece get back on the right track are continuing,' the source said. 'We're all striving to achieve a lasting stabilization of Greece,' he said. 'That's the focus of what all of us in Europe are working on right now.' (Reporting By Noah Barking; Additional reporting by George Georgiopoulos in Athens and; Adrian Croft in London; writing by Erik Kirschbaum; editing by Andrew Roche)