The Supreme Court upheld 'Obamacare' today, from a highly technical objection about some wording. Despite Scalia's thuggish rants, it really was a no-brainer. At the end of the day it is better than nothing but not by much. It is a hand-crafted piece of legislation from the healthcare and pharmaceutical industry that was spawned by the conservative corporatists and adopted by Barack 'Sell Out' Obama. Same thing for the TPP by the way, which is why it was so easy for him to team up with the House GOP to defeat his own progressives.

I had to laugh when I read that this is the most liberal Supreme Court in so many years. The Citizen's United boys? That is about as Orwellian it gets.

Now that they have joined to pass the corporatist TPP, the Wall St Dems and Republicans can get back to role playing and whipping their ardent constituencies into frothing yahoos who will continue to go out and vote for their own demise.

In other words, if the rubes keep buying it, they will keep selling it. Just like Comex precious metal options.

I have included the statistics for the July 15 Comex Gold Calls and Puts from Last Friday when gold was about 1202 in the first two charts below.

I remember looking at the distribution of the open interest on the right. I was stunned at the size of the open interest because July is not a big contract month for gold as I have previously said, and I initially dismisses the significance of this option expiration for gold because of it.

And I remember vividly thinking to myself, 'they are going to take the price of gold down below 1180 into the expiration. There is nothing to stop them in the futures contracts, but the options look like a setup. Who the heck is writing and buying these things?'

And here we are.

Obviously the details are in exactly who was buying and selling what, as the apologists for the Wall Street kleptocracy like to opaquely say, but the action was concentrated enough on a 'nothing contract month' to raise my eyebrows.

Have a pleasant evening.