Frontrunning: October 13

• For Orderly Dissolution Of The Fed, Before It Does Us Even More Harm (IBD)
• Securitization Flaws May Lead Investors to Fight Mortgage Deals (Bloomberg)
• China Foreign-Exchange Reserves Jump to $2.65 Trillion (Bloomberg)
• Japan warns China on currency policy (FT)
• More on the Fed's new mandate (which we are sure was cleared by Congress) targetting GDP and/or prices: Fed Mulls Raising Inflation Expectations to Boost Economy (Bloomberg)
• Frank Aquila discusses what Zero Hedge noted weeks ago: corporate cash repatriation concerns - "since repatriating these profits
  means incurring a tax of as much as 35 percent, most overseas
  profits remain offshore" (Bloomberg)
• Across the U.S., Long Recovery Looks Like Recession (NYT)
• The economic crisis was an 'inside job' (WaPo)
• More disinflation voodoo: Import Prices in U.S. Fell 0.3% in September; Ex-Fuel Up 0.3% (Bloomberg)
• The Foolish Foreclosure Moratorium (American)
• Gas sticker shock imminent -  Oil rises over $82 on strong China crude imports (Reuters)
• Tea Party influence threatens Reid in Nevada (FT)
• MGM Resorts, Kerkorian Sell Stock (Bloomberg)
• Lions Gate seeks MGM deal, gets Icahn's support (Reuters)
• Bernanke's History Lesson: Japan (WSJ)
• StanChart launches £3bn cash call (FT)
• And some more: Our view on mortgage mess: Halt on foreclosures would do more harm than good (USA Today)
• U.S. Ends Ban on Deep-Water Drilling (WSJ)
• No More Steroids Needed For U.S. Economy (Forbes)

Comments

[Mongo]

Bernanke will be the monkey at the Zoo all the kids will laugh at within 2 yrs!

Until then go about your business... rebel scum!

[TheGreatPonzi]

"For Orderly Dissolution Of The Fed, Before It Does Us Even More Harm"

I bet $10,000 that the FED will still be there in 10 years.

[A Man without Q...]

I bet if it is, $10,000 won't even buy you a Big Mac...

[snowball777]

Ever get the feeling that the Fed is just the bad cop in the good cop/bad cop shakedown routine?

[sushi]

Any ZH'er seen the Inside Job movie? Critical reviews? Critical snark? Did you blow your coke and popcorn all over the back of the folks in front when Ben B played his cameo?

[Cincitucky]

Am I the only one that doesn't want to see the Fed go?

Instituting good financial practices and sound policies is going to ruin my access to hilarious news articles and face palming.

[JR]

I agree with Jim Powell’s conclusion on IBD that “it's time to begin planning for an orderly dissolution of the Fed before it does us any more harm,” but not his history of the Fed.  The banks control the government, not the other way around..

Mayer Amschel Rothschild wasn’t kidding when he said: “Let me issue and control a nation’s money and I care not who writes its laws.”

As Rep. Louis T. McFadden said in 1934, “We have in this country one of the most corrupt institution the world has ever known.  I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the FED.  They are not government institutions.  They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers.”

After the Fed was rammed through Congress in December 1913 while most of its members were home for Christmas, President Woodrow Wilson, who signed the bill, later admitted: “I have unwittingly ruined my country.”

“The real menace of our Republic is this invisible government which like a giant octopus sprawls its slimy length over city, state and nation.  Like the octopus of real life, it operates under cover of a self-created screen… At the head of this octopus are the Rockefeller Standard Oil interests and a small group of powerful banking houses generally referred to as international bankers. The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes. They practically control both political parties.” – New York City Mayor John F. Hylan, 1922.

“The modern banking system manufacturers money out of nothing.  The process is perhaps the most astounding piece of sleight of hand that was ever invented.  Banking was conceived in inequity and born in sin… Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again…  Take the great power away from them, or if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit.” – Sir Josiah Stamp, a former president of the Bank of England

“It is well enough the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” – Henry Ford

“I wouldn’t go to war as I have done to protect some lousy investment of the bankers.  There are only two things we should fight for. One is defense of our homes and the other is the Bill of Rights.  War for any other reason is simply a racket.” –Marine Major General Smedley Butler

[RockyRacoon]

For Orderly Dissolution Of The Fed, Before It Does Us Even More Harm (IBD)

Talk about your nothing-burger....   I guess the news is that it was in IBD.

Just saw the 1981 movie Rollover.  Amazing stuff, and prescient.

The "technology" of the day is rather nostalgic.    Story is about the Saudis taking over by buying all the gold they could get their hands on.

Hmmm...

[Ruth]

Gotta add one more:  The Signing....and hereeeeeeeeeeeee's Martin!

http://mandelman.ml-implode.com/2010/10/the-signing-or-pardon-me-mr-banker-but-your-remic-is-showing/

[Technichel]

I have never met a smart professor.  

[daniel]

Really this is a great post from an expert and thank you very much for sharing this valuable information with us.
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