Gutted!

by Larry Levin

If you thought the Ron Paul's Bill to audit the Fed that was working its way through Congress, and had HUNDREDS of sponsors, would make it without being molested by Chester the Molester, you'd still be one that is firmly ensconced in The Financial Matrix. You see, the Federal Reserve is the architect of The Financial Matrix and it will not allow an audit. Although there were HUNDREDS of sponsors of H.R. 1207, the Fed had it gutted. Whatever is left of the gutted carcass and is gleefully passed by the moronic rubes in DC will be nothing but rubbish.

If you don't like what is left of H.R. 1207 don't blame Ron Paul, blame Mel Watt.

From Bloomberg we read:

Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been "gutted" while moving toward a possible vote in the Democratic-controlled House.

The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.

"There's nothing left, it's been gutted," he said in a telephone interview. "This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that."

Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated "just about everything" while preparing the legislation for formal consideration. Watt is chairman of the panel's domestic monetary policy and technology subcommittee.

Keith Kelly, a spokesman for Watt, declined to comment and said Watt wasn't immediately available for an interview. Watt's district includes Charlotte , headquarters of Bank of America Corp., the biggest U.S. lender.



Previous Day's Trading Room Results:

Trade Date: 11/4/09

E-Mini S&P Trades*
(before fees and commissions):


1) OTF buy @ 10:19am at 1055.00 = +.25 (1 lot)

2) Algorithm positions (11)

3) "Reading the Tape" positions (12) ...combined Secret's, Algo, & "Reading the Tape" total...+17.75



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