By Greg Hunter’s USAWatchdog.com
The top story is Obama Care and the President’s turnaround and make good on his promise, “If you like your healthcare policy, you can keep it. Period.” President Obama has taken it upon himself to now allow insurance companies to keep selling those so-called “substandard plans.” The President is making a political move here that will have little bearing on millions of people losing their healthcare coverage. The President is simply trying to stop Democrats, up for re-election, from creating and voting for bills that really will let you keep your healthcare plan. By the way, Mr. Obama cannot change laws by decree. We do not have a king. This is unconstitutional. He does not have the power or right to change laws, not even his own Obama Care law. Laws are created in the House and Senate. There are two bills, one in each house of Congress, that will allow you to keep your healthcare policy, and the President knows many Democrats will vote for them for political cover. Still, you have not heard the last of the cancellations. State insurance commissioners approve insurance plans, and I do not see how you get this genie back into the bottle. This still does not fix the debacle that awaits most of America, and wait until the employer mandate finally kicks in come 2015. I had two guests on in the last month that say Obama Care will collapse. If Obama Care stands, everybody with a healthcare plan is going to pay more and get less. If people do keep their plans, then we will have two risk pools: one for sick people who cannot pay and one for healthy people who can pay. Obama Care equals Chaos. I predict people are going to die over this monster policy mistake.
A Russian lawmaker is pushing a bill that will make accepting the U.S. dollar illegal. He contends that people will suffer in a dollar collapse and countries need to “wean themselves off the dollar.” He predicts a newly elected U.S. President will restructure America’s debt by 2017. My friend, Gregory Mannarino of TradersChoice.net, says Russia is wanting America to pay its debts in gold. Is anyone spotting a trend here of countries wanting to stop doing business in USD? Saudi Arabia has strongly hinted at this. You might ask who would protect them? They recently ordered nuclear weapons from Pakistan, and the Chinese have refinery deals with the Kingdom. The dollar is losing its reserve currency status, and that trend is picking up steam. This is what American leadership should be focusing on!!!
Janet Yellen is in Congress for confirmation hearings to become the new Fed Chief to replace Ben Bernanke. She testified she is going to keep on printing money to prop up the economy. No surprise there. The big surprise came from a former Fed official responsible for QE, or money printing. Andrew Huszar told America in an Op-Ed piece in the Wall Street Journal he was “sorry” for facilitating “the greatest backdoor Wall Street bailout of all time.”
Meanwhile, USA Today reported this week on recent statements from New York Fed President William Dudley calling big bankers out on breaking the law and fraud. Dudley, who is arguably the second most powerful person at the Fed, complained about some big bankers when he opined about “the apparent lack of respect for the law, regulation and public trust.” I have been telling you about money laundering, securities fraud, perjury, forgery, foreclosure fraud and LIBOR rate rigging by the big banks. This is crime in the trillions of dollars and nobody goes to jail! Look at and JP Morgan for example. Just in the last few months, it has been fined or lost $20 billion. Zero criminal charges so far. Eric Holder says the big bankers are basically too big to jail because it would hurt the economy. Holder is not doing his job as Attorney General, and maybe that’s why some in Congress want to see him impeached
Join Greg Hunter as he gives his analysis on these stories and more in the Weekly News Wrap-Up.