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Hard asset investing and the Affordable Health Care Act

ker
October 19, 2013
Hour 1 : 

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Hour 2:

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Two round table discussions add to our show this week. One on hard asset investing and the often forgotten factors affecting this sector and another on the hard facts concerning the Affordable Health Care Act. Is it bad, good or indifferent? Listen to what our guests have to say and then make up your own minds.  We also provide an update on a company called Timmins Gold at the request of many of our listeners.

Hour 1:

Hour 2:


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Discussion
36 Comments
    Oct 19, 2013 19:56 AM

    What a great show Al. I guess I can only chime in and add to your comments that we can be grateful for the very insightful commentary your guests are bringing to listeners each week. I really appreciate that so many of the great minds are taking time to come on your program and generously offering their views on what is happening in the world around us and offering advice on how we might be prepared to respond as time goes by. Thanks again to you and Cory (and your guests!) for all the time you put in to make this such a terrific site to tune in too.

    Oct 19, 2013 19:47 AM

    Thanks as always Al, Cory, Rick and all the rest.

    Jonathan Moore (Seg 4) says 60% of the US population is ‘fed up’ with where the politicians are taking the nation. ‘Fed up’ is surely a gentle euphemism for the emotional firestorm to follow. What for example happens when the residents of some 17 US States understand that their water supply has become insufficient or unsafe to drink? Or what if some 1 million war vets at present thrown on the crapheap choose out of desperation to close ranks with the growing army of preppers already armed to the teeth with their Bushmaster semi-automatics? Or what happens when people with their welfare cheques can only buy food/fuel that’s doubled in price? ‘Fed up’ will turn to all out desperation….the reason surely that Homeland Security has stockpiled 1.5 billion hollow point bullets along with an additional 1800 APCs.

    Here in the UK people are ‘fed up’ even when they don’t seem to understand why My wife attends a choral group, its members complaining during a break how they are all having difficulty sleeping. Surely this is due to a creeping depression overrunning the nation. People can’t sleep because even if they can pay their way in life so far, they know that inflation’s on a roll (this last week Energy companies are increasing their annual charges by almost 10%), whilst average savings rates are at best 0.5% above zero. Almost for sure, the collective insomnia is due to people’s greater worries for their children, over half of whom upto the age of 35 having no pension plans in place.

    Fed up – you’d better believe it! Same thing goes for Greece, Portugal, Italy, etc. A

      bb
      Oct 19, 2013 19:59 AM

      Seg 4. I agree with Doug Casey, voting just allows the illusion/delusion of a democratic system to continue.

      I dont know if I agree with such high numbers being “fed up”, alot of people are still working and people are not as yet so “fed up” they will actualy inform themselves.

      Do they even believe Ron Paul yet? Not a large percentage comparitivly.
      We have a ways to go yet I think.

      Maybe when the results of the inflation hit as John Williams states. Maybe then people will get “fed up”, and they will react to their education and as a persons whose beliefs are shattered, they wont know anything other than to be violent.

    Tex
    Oct 19, 2013 19:16 AM

    Nice discussion of the ACA. Proposals to reinvigorate the Public Health Service are interesting and seem to be more likely than the superior but not politically popular idea of paying cash for most minor medical services and having insurance for medical disasters. Although some MDs are moving to a cash ‘concierge’ practice, these are the older ones with established practices (who are also getting fed up with external mandates and considering leaving medicine). The newly minted doctors are working for hospitals as employees; this is consistent with the way they are trained which is as shift workers rather than professionals. I remained stunned by the Internal Medicine Senior Resident who told me “I need my time more that that patient needs my time” as she left the bedside to remain in compliance with government mandated work hours. (By the way the work hour reduction has not reduced the # of medical errors, just changed the type of error…but that is another issue). I suspect that the overall effect of this legislation will be to increase the price of United Health Group Stock (currently $68.76) as we move to corporate medicine (at the expense of MD run private practice). Having corporate medicine will allow politicians to get more in the way of political contributions too.

    AND FINALLY, Cory, if a US citizen fails to obtain insurance coverage, they pay a “TAX”, not a penalty…..just ask Judge Roberts and the US Supreme Court.

      Oct 19, 2013 19:20 AM

      Call it a penalty or a tax, it obviously represents cash out of a person’s pocket!

    MNH
    Oct 19, 2013 19:17 AM

    This lady often comes off as a fruit cake.
    Interviwers like Greg Hunter seem to think she has it together though.
    It’s cool that she answered MonyBags….and was very thought provoking, again
    http://www.youtube.com/watch?v=F6BoWo3Qn6I&feature=em-uploademail

    Oct 19, 2013 19:00 AM

    MNH – Have to agree about the fruitcake bit MNH.I saw the whole G.Hunter interview with Karen Hudes. Some of the things she said sounded completely off the wall like the Jesuits ruling the world, and how (as far as I can recall) the two assassinated presidents of Lincoln and Kennedy died at their hands. That said I appreciate that the Vatican’s financial world appears to be a can or worms.

    The trouble is Hudes’ plausibility is endorsed by the fact she was on the World Bank for 20+ years and appears to have an answer for everything.

    I watched the interview twice with my wife watching once and we both concluded she’s a broken genius. A

    Oct 19, 2013 19:36 AM

    Shouldn’t the fine be equal to the cost of the insurance, if they want to force you to buy the insurance?

    Not that forcing anyone to buy anything is right to begin with.

      Oct 19, 2013 19:25 AM

      I don’t believe that would fly, Johnny A.

      I completely agree with your second paragraph.

      Thanks

    Oct 19, 2013 19:16 AM

    Perhaps to help inspire us in these times when there seems to be so much mass treachery and ignorance, the violin belonging to the Titanic’s lead musician Wallace Hartley was today sold at auction for £900k. Hartley was given the violin as an engagement present before setting sail, and it was the same instrument that reputedly ended up playing the hymn ‘Nearer my God to Thee’, as the vessel sank.

    The violin was recovered strapped in its case to the body of Hartley and returned to his fiancée in England. For many years it languished in a drawer only to be re-discovered in 2005.

    The instrument fetched its record amount (auction estimates being between £200k and £300k). Its value of course lay in being a supreme symbol of love whilst epitomising bravery, and everything that was good about all those men. women and children who lost their lives.

    Oct 19, 2013 19:05 AM

    In these times when there’s so much treachery and ignorance, perhaps the following will help inspire us. The violin belonging to the Titanic’s lead musician Wallace Hartley was today sold at auction for £900k. Hartley was given the violin as an engagement present before setting sail, and it was the same instrument that reputedly ended up playing the hymn ‘Nearer my God to Thee’, as the vessel sank.

    The violin was recovered strapped in its case to the body of Hartley and returned to his fiancée in England. For many years it languished in a drawer only to be re-discovered in 2005.

    The instrument fetched its record amount (auction estimates being between £200k and £300k). Its value of course lay in being a sublime symbol of love whilst epitomising bravery, and everything that was good about all those men. women and children who lost their lives.

    Oct 19, 2013 19:05 AM

    Sorry message didn’t go at first.

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      Feb 03, 2014 03:49 PM

      This is an arcltie that makes you think “never thought of that!”

    Oct 19, 2013 19:51 AM

    Under the ACA I estimate my insurance premium will go DOWN about 80%. My insurance company has been taking advantage of me for years because I have a pre-existing condition. That means they can charge me a monthly premium that is enough to cover my actual expenses for the entire year just in case I MIGHT get sick. They can get away with this because I am an “auto-denial.” In other words, don’t even bother sending in an application to another company because you will automatically be denied. Now under the ACA I will pay a premium that makes sense compared to my actual medical expenses.

    If a healthy 25-year old decides not to buy insurance – well, most of us were young and stupid once. He will pay a fine, and that fine will grow larger every year. At some point he may learn that you’re not supposed to make money on insurance, and join the system. And if he goes skiing and tears his ACL or breaks his leg, then yes, they will treat him at the emergency room. But those doctors don’t work for free. They will send him a bill that will make him wish he had insurance. If you try to sign up after you get sick, then you had better get sick during an enrollment period. Telling your listeners that they can sign up at any time is misinformation.

      Oct 19, 2013 19:34 PM

      I will definitely look into this.

      Thank you Victor!

        Oct 19, 2013 19:58 PM

        Now wait a minute.. A condition like cancer is far different from someone breaking a leg and saying “don’t fix it until I buy insurance.

        I should have caught that right away.

        Still spreading misinformation?

      Oct 19, 2013 19:13 PM

      You are correct Victor. Many people who are speaking out against the ACA are stating too many things that simply are not true. People who think they can wait until they get sick or injured before buying health insurance have not thought about the limited open enrollment period or what happens if they have a stroke or have a serious accident. They can’t just pick up the phone or go online to get insurance even in the open enrollment period if something serious happens to them. I also believe that when you go to get insurance, depending on what day of the month you apply, you will not be covered until a later date.

      As for myself, my current health insurance premium is $200 a month for a BCBS policy that has a $3500 deductible. But soon, under the ACA, my insurance will be just $10 a month for a BCBS policy that has just a $100 deductible. Needless to say it is a huge savings for me and it is even a little better policy then what I have now. Sorry that a small minority (not 85% like Mr. Korelin said) will have to pay more to “make up” for it.

        Oct 19, 2013 19:16 PM

        I think many of you missed my point or I am just plain wrong. I will reply on Monday and if I am wrong I will admit it.

        Oct 19, 2013 19:44 PM

        The above is exactly why things will not change in this country until as some would say a “Collapse”. People like Jerry will accept change like Obamacare and embace it as long as it “Benefits” them. Notice the I, me’s and my’s in the paragraph. They live in a disalussioned state of belief that not may people will be hurt by this. They convince themselves that this type of change is a good thing because it benefits them. And because they benefit…they can’t find anything wrong with it and everyone else is a LIAR.

        Look…doesn’t anyone have any sense of dignity anymore. It’s used to be a SHAME to be on any type of Gov assistance. Now it’s glorified.

        Years ago you got out of life what you put into to it. Now because of the attitude of the people in this country…you get much more out of life than you put into it…and someone else gets to pay for it.

        I am not surprised by this mans attitude…he’s a boiled frog.

          Oct 19, 2013 19:21 PM

          Timothy,

          So I used “I” in my comments. Al used “I” as did you in yours. So what? You do not even know me. I saved up money most my life and decided to semi-retired at age 48. It was made possible because I maxed out both my IRA and 401k plan some years and by paying off my house in 9 years. Then “Obamacare” came along. Do you think I should continue paying thousands of dollars a year for high-deductible health insurance when I have the opportunity to save money by getting it through the Marketplace? I guarantee virtually everyone including many of those against the ACA would do what I am doing and take the government up on their offer if they were in my place. I know people who took advantage of the “Cash for Clunkers” including my brother who was making about $100,000 a year. I find nothing wrong with that. It was a smart move for them.

          I believe Timothy that you are misjudging me just a little but I understand how frustrating it is to live in this ungodly country with so many people who are on some form of welfare. Many of them do not really need it and some of them that do it is their own fault that they got themselves in that financial situation. Many of them still either drink, smoke, do drugs, play the lottery, do not want to work full-time or have children when they can’t afford them.

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        Feb 03, 2014 03:31 PM

        AFAICT you’ve coreved all the bases with this answer!

    Oct 19, 2013 19:52 PM

    Victor, my wife and I, healthy 63 year olds will also be paying about 60% LESS for what appears to be a Better plan than we have now and psy thru the nose for.

      Oct 20, 2013 20:28 AM

      Bobby,

      Here is our actual experience.

      Up until I turned 65, my premium was about $820 per month. It is now about 1/2 of that. This is without the ACA.

      Kathy will have the same experience in a year when she turns 65.

        Oct 20, 2013 20:37 PM

        Al, is that not medicare with a suppliment?

    Oct 19, 2013 19:03 PM

    Did anyone see this???

    This is very disturbing. We have an huge iceberg of a problem underneath all the government rhertoric.

    The Government Is Researching How To Use Technology To Change Your Religious Beliefs

    http://www.silverdoctors.com/the-government-is-researching-how-to-use-technology-to-change-your-religious-beliefs/#more-33404

    Oct 19, 2013 19:51 PM

    “… now what you’re watching is bickering of how we’re going to reconcile the remaining assets to the liabilities, so we’ve got a lot of people who have retirement or other assets that will be marked down …”
    ~Catherine Austin Fitts

    C.A.F. Was on C2C for a short two minute interview.

    linked to start at the segment with Catherine:
    http://youtu.be/be-j2zWAEJI?t=3m32s

    Oct 19, 2013 19:38 PM

    Just another Canuck chiming in on health care here.

    The US debate on health care is healthy and can be an interesting one. Here is some food for thought though; How much does it cost to have a baby delivered in hospital? What if that baby is born with severe pigeon toe (where feet point to each other vs. straight out) or is bow legged requiring multiple surgeries over years to correct? I worked with a man who had to have 7 surgeries for pigeon toe over his childhood, and is a healthy tax paying, contributing member of society today because of it. I personally have had public health care save my life twice. I was a c-section at birth, and had a life threatening sickness when I was 3. Now I gross 50k annually and pay about 10k/yr income tax in Albeta; going for a checkup 1-2x annually at a public provincial cost of roughly $50-100 each time.

    In ’65, Saskatchewan started public medical care and prior to that everything seemed to be going fine; but this was an era (up until the 80’s) where if you had one stroke or heart attack the next one was going to kill you and you might have a couple years to live. Within a few years, Canadian governments agreed to share costs, the costs went up and kept rising but the idea behind the whole thing falls on two principles to the public. One of which is right, the other is wrong and misguided.

    1. Medical care, especially in emergencies should be universally available to all regardless of one’s ability to pay (some say it should be free but that is another argument)

    2. What is wrong is that the focus on medical care is that it’s less for fixing broken legs and disabilities, etc. and more about keeping people alive longer…as the majority of one’s medical expenses are spent in the last 6 weeks of life, so they can die at several hundred dollars daily in a hospital.

    Oct 20, 2013 20:11 AM

    Buying Silver Was The Stupidest Move I Ever Made!
    (13 minutes)
    http://youtu.be/w0luBhVdMsc?t=8s

    Oct 20, 2013 20:49 AM

    So the question is:

    Is he right?????

    I really have no idea. There’s so much fraud, manipulation and parasitism is the system I don’t know whether a just market will prevail.

    I know what thing, people are really angry with this. And they want those who are doing this held accountable, jailed and their ‘wealth’ restored to those they took it from.

    ENOUGH.

    Oct 20, 2013 20:56 AM

    Seven days ago, I commented that: “The now active bearish head and shoulders pattern will probably be invalidated by all this bearishness.”
    The first chart here shows that’s exactly what has happened:
    http://news.goldseek.com/GoldSeek/1382248920.php

    Oct 20, 2013 20:58 AM

    Seven days ago, I commented that: “The now active bearish head and shoulders pattern will probably be invalidated by all this bearishness.” —
    That’s exactly what has happened.

      Oct 20, 2013 20:03 PM

      See the article by Warren Bevan at Goldseek dot com for chart.

    Oct 20, 2013 20:05 PM

    Sorry for the double post. The first one didn’t show so I posted again.

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