... and here is how to do it in the registry - but AGAIN, use these instructions at your own risk - you shouldn't mess with the registry unless you feel you know what you are doing:
Start a registry editor (e.g., regedit.exe).
Navigate to the HKEY_CURRENT_USER\Software\Microsoft\Internet Explorer\Toolbar registry subkey.
Double-click the LinksFolderName value.
Clear the value data, then click OK.
Start IE and delete the Links folder from the Favorites menu.
(hide) If you don't want other users to know what you are doing you can change into cloak mode in Settings (paying members only). (pauloaguia) (show all tips)