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Fed Creates New Thing for Financial Writers, Bloggers and Pundits to Mock

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Good news. The Federal Reserve has created a new thing for everyone herding around mercilessly mocking and deriding the Fed to mercilessly mock and deride. The new Office of Financial Stability Policy and Research "will identify risks to financial stability" as part of new Federal Reserve responsibilities outlined by financial reform law enacted this past summer.

"The Office of Financial Stability Policy and Research brings together a skilled group of people with a wide range of expertise to focus solely on financial stability," Federal Reserve Chairman Ben S. Bernanke said in a release posted on the Federal Reserve's Web site.

"This is an obvious attempt to use the Fed's propaganda site to make it look like they aren't supporting the stock market and, ultimately, working to fulfill their 1913 mission of collapsing the currency and siphoning off the savings of all men, women and children in the service of a New World Order," a pundit who wished to remain anonymous for fear of the Fed, wrote.

""The financial stability team will play an important role in implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act, in our oversight of systemically important financial institutions, and in our overall surveillance of the financial markets and the economy," Bernanke added.

"Ha!," EndtheFedSaintsWin wrote via Twitter. "Might as well just take all r $ now and get it over with," EndtheFedSaintsWin added.

The Federal Reserve's Office of Financial Stability Policy and Research will be led by J. Nellie Liang, a key participant in crafting the Federal Reserve's response to the financial crisis, the release noted.

"Right," wrote Brutus on the blog. "So helicopter Ben got one of his minions in there to help print money. Better buy gold."

Liang has a Ph.D. in economics from the University of Maryland and an undergraduate degree in economics from the University of Notre Dame.

"Exactly the kind of pedigree you'd expect one of our financial overlords to have," added a guy on YouTube identified as RonPaulFan1949.
POSITION:  No positions in stocks mentioned.