India’s Massive Hoarding Shows Silver’s Monetary Characteristics – Supreme Court Rules on Obamacare… Are Laws Also “Too Big to Fail”?
TDC Note – The first part of this podcast is covering the SCOTUS allowing ObottomCare to stand. The Steve St. Angelo interview begins at 6:45 mark. from Money Metals Exchange Don’t want to listen? Read the podcast below! Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Coming up we’ll hear from Steve St. Angelo of the SRSrocco Report. Steve talks about some promising developments with states reasserting their rights to make gold and silver legal tender. And don’t miss his outlook for oil and precious metals — and the possibility of some real fireworks in the markets – some nice, some not so nice – later this year. Don’t miss my interview with Steve St. Angelo, one of the most respected analysts in the field… coming up in just a moment. Well, this week raging culture wars and a big Supreme Court decision overshadowed the financial markets. On Thursday the Supreme Court rescued Obamacare from potential oblivion. The 6 to 3 majority essentially re-wrote portions of the law that Congress had botched pertaining to health insurance subsidies. Writing on behalf of the majority, Republican-appointed Chief Justice John Roberts decided that the law should reflect Democrats’ broad intentions. Because lawmakers didn’t intend for health insurance markets to implode, the actual law they wrote shouldn’t be interpreted literally. Because, you know, doing so might bring about Obamacare’s implosion. The creative legal reasoning behind the Court’s decision was the subject of a scathing dissent by Justice Antonin Scalia. Others are asking whether the highest court in the land has succumbed to the “too big to fail” mentality. Much like the Treasury Department and Federal Reserve orchestrated bailouts of banks deemed too big to fail, the High Court now apparently stands ready to bail out foolish laws that are too big to fail. As for bond obligations and entitlement spending commitments that are too big to fail, well Congress can always count on the Federal Reserve to bail them out. Continue Reading>>> AUDIO PODCAST HERE>>>