Barack Obama’s Half-Brother Ditches Him for Trump Again

(Headline USA) Former President Barack Obama’s half-brother revealed this week that he would be voting for former President Donald Trump again this November.

Abon’go Malik Obama, a Kenya-born naturalized U.S. citizen, posted on X: “I am Malik Obama. I’m a registered Republican and I’m voting for President Donald Trump.”

Malik Obama has backed Trump against the Democratic Party in each of the last two elections, despite his relationship with his half-brother. Both Barack and Malik are sons of Barack Hussein Obama Sr., a Kenyan economist who died in a car accident in 1982.

The two used to have a close relationship, with Malik Obama even standing as Barack Obama’s best man in the latter’s wedding. But in recent years, Malik Obama has publicly called out the Democratic leader’s politics.

Malik Obama particularly took issue with Barack Obama’s push for Hillary Clinton in 2016.

“She should have known better as the custodian of classified information,” Malik said in 2016 of Clinton’s use of a private email server to hold sensitive government documents.

Malik Obama even ended up appearing as a special guest of Trump’s at the third presidential debate between Clinton and Trump.

In 2020, Malik Obama again expressed support for Trump over his half-brother’s endorsed candidate, President Joe Biden, arguing at the time that Biden “looks like he’s going to drop dead.”

Malik Obama explained his break from Barack Obama in 2022, writing, “I stuck with Barack Obama all through his presidency, until I realized he was all about himself. That’s when I ditched him for President Trump.”

Malik Obama’s latest endorsement comes just days after several relatives of Democratic vice presidential candidate Tim Walz came out in support of Trump.

A picture posted this week shows several people standing in front of a “Trump 2024” flag wearing shirts that read, “Nebraska Walz’s for Trump.” Though their identities have not been confirmed, Republican political operative Rod Edwards said the group is related to Walz through his paternal great-uncle.

Walz’s own brother, Jeff Walz, also blasted him, warning his friends on social media that he would be a disaster for the country.

“I’m 100% opposed to all his ideology,” Jeff Walz wrote on Facebook. “The stories I could tell. Not the type of character you want making decisions about your future.”

Trump Vows to Create Musk-Backed Government Efficiency Commission

(Headline USA) Former President Donald Trump endorsed Elon Musk’s idea for a government efficiency commission, vowing to create one and tap Musk to lead it if he wins in November.

“I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic reforms,” Trump told the Economic Club of New York on Thursday.

“Need to do it,” he added. “Can’t go on the way we are now.”

Trump said that he’d appoint Musk to lead the commission “if he has the time.”

The Tesla and X owner responded to Trump’s offer in a statement of his own. 

“I look forward to serving America if the opportunity arises,” Musk posted on X. “No pay, no title, no recognition is needed.”

Musk, who endorsed Trump this summer, proposed the idea for a government efficiency commission last month, arguing such a panel could study the national debt and how Congress could reassess spending. The commission could also look for ways to reduce the federal government’s bureaucracy, according to Musk.

“I think we need a government efficiency commission to say like, ‘Hey, where are we spending money that’s sensible? Where is it not sensible?’ We need to live within our means,” Musk proposed during a live-streamed conversation with Trump.

One possible cut Trump has already proposed is abolishing the federal Department of Education and “mov[ing] education back to the states.” The Education Department, he argued, only wastes U.S. taxpayer dollars.

“The United States spends more money on education than any other country in the world, and yet we get the worst outcomes,” Trump said. “We are at the bottom of every list.”

Trump also warned against Vice President Kamala Harris’s economic agenda during his address to the Economic Club of New York, arguing her “socialist” policies would drastically expand the size and scope of government.

CNN Admits Kamala’s Poll Numbers Are Bad: Trailing BIDEN in Must-Win Demographics

(Headline USA) CNN’s political director admitted this week that Vice President Kamala Harris’s performance in several recent polls is not nearly as great as Democrats have made it out to be.

Citing recent numbers out of the six battleground states—Nevada, Georgia, Pennsylvania, Michigan, Wisconsin and Arizona—CNN’s David Chalian said that although Harris might be ahead in some of these states, she is seriously behind with key demographics that could determine the final outcome.

“If you look at the white voters without college degrees, this is a Trump base constituency, obviously,” Chalian explained. “You see his huge numbers with this group, you see that this is a trouble sign for Harris.”

But it wasn’t just Trump’s voter base whom Harris was failing to persuade in must-win swing states, he noted.

“She also in places like Georgia is not doing well with white college-educated voters,” Chalian said. “She probably wants to make up some ground with white college-educated voters across these battlegrounds, as well.”

Despite her shameless efforts to pander to the black community, even putting on a variety of black dialects, Harris wasn’t even performing that well among black voters compared to previous Democratic candidates, including President Joe Biden.

In 2020, for example, Biden won 92% of black voters in Pennsylvania. Right now, Harris is pulling just 84% of black voters in Pennsylvania.

“There‘s still room here for Harris to grow and consolidate the black vote, which is going to be necessary if she is going to win in places like Georgia and Pennsylvania, which are clearly in play here and toss-up races,” Chalian said.

If Trump were to secure both of those states, as well as hold all the states he won in 2020, he would have the 270 votes needed to win the election.

Harris’s biggest problem is among men, Chalian noted. While female voters are very likely to back Harris, the vice president is underwater with men by double digits.

Several other left-leaning pollsters have similarly raised the alarm about Harris’s standing in the polls, arguing she’s running behind where Biden was at in 2020 and where Hillary Clinton was at in 2016.

“The forecast is still in toss-up range, but Trump’s chances of winning are his highest since July 30,” FiveThirtyEight founder Nate Silver wrote this week. “The fact is that most polls we’ve seen over the past week are coming in below our current polling averages for Kamala Harris.”

Hunter Biden’s Guilty Plea Sets Stage for Pardon, Experts Say

(Luis Cornelio, Headline USA) Hunter Biden, the embattled son of President Joe Biden, pleaded guilty to nine federal tax crimes—a move that some suggest could be laying the groundwork for a pardon from his father. 

U.S. District Judge Mark Scarsi accepted the plea and set sentencing for December 16, just over a month after the presidential election, the New York Post reported Thursday.

Pleading guilty spares both Hunter and his father from the intense media scrutiny around what could have been a second trial brought by Special Counsel David Weiss. 

But critics questioned the timing of the guilty plea, with best-seller author and journalist Jerry Dunleavy IV calling it a “bait-and-switch stunt” and a “total joke.” 

“A defendant would never do this without the knowledge that he had a commutation or pardon in his back pocket,” Dunleavy commented on X. “And any normal prosecutor would just laugh, reject it, and proceed to trial.” 

Echoing these concerns, journalist Katie Pavlich added, “Hunter to plead guilty to tax charges. How long until the pardon.” 

Weiss claimed that Hunter failed to pay $1.4 million in federal taxes from 2016 through 2019. These accusations followed Hunter’s conviction of lying about his drug use on a federal form when purchasing a gun. 

Hunter’s defense attorney Abbe Lowell offered a vague explanation for the guilty plea, claiming that it allowed the first son to avoid his family from facing “unnecessary hurt and cruel humiliation.”  

He added, “This plea prevents that kind of show trial that would not have provided all the facts or served any real point in justice. He will now move on to the sentencing phase, while keeping open the options to raise the many clear issues with this case on appeal.” 

By pleading guilty before the trial, Hunter acknowledged that the evidence presented by prosecutors was enough to convict him while continuing to assert his innocence. 

This made little sense to prosecutors. “We were as shocked as anyone in the courtroom this morning,” federal prosecutor Leo Wise said. “I don’t know how the defendant could maintain his innocence and agree the facts are true.” 

During the hearing, Scarsi asked Hunter if he agreed he had committed “every element of every crime in the indictment.”  

“Yes,” Hunter replied, according to the Post. Moments later, he formally entered his guilty plea.

It remains unclear if anything beyond the looming media frenzy pushed Hunter to end the case. But Pavlich suggested this was part of an effort to avoid incriminating Biden. 

“A guilty plea avoids a messy trial that would inevitably connect Joe Biden to Hunter’s overseas business dealings,” Pavlich commented. 

Attorney and political commentator Rogan O’Handley, known as DC Draino, said that going to trial would have delayed the sentencing into 2025, during a potential Trump administration.

“Want to know why he pled guilty to all 9 felony charges? Because if he went to trial and got convicted on even 1 charge, it would have delayed his sentencing date possibly into Trump’s term,” he wrote on X. “No pardon from Trump. Now he is guaranteed to be sentenced before Joe is out and can get a clean pardon from daddy.”

Neama Rahmani, a former federal prosecutor and the president of West Coast Trial Lawyers, also hinted at a potential pardon.

“An open plea without a plea agreement is usually not a good deal,” Rahmani declared. “Hunter’s lawyer is experienced and Hunter is a lawyer himself, so I’m thinking Hunter already has a pardon lined up, most likely after the election.”

Others have speculated that Biden could soon offer a pardon, especially now that he’s no longer a candidate for re-election.

A pardon for his son during a second term would have triggered a scandal, but the political landscape has changed.

“His father stepping down pretty much cleared the path for a full pardon of all Federal charges,” said trial attorney Rich Schoenstein. “Hunter can thank Nancy Pelosi and George Clooney for the assist.”

Secret Service Sending Agents to LGBTQ Conference

(Ken Silva, Headline USA) One might think the Secret Service would be upping its security training for agents in the wake of the July 13 assassination attempt on Donald Trump, but that doesn’t appear to be the case.

Instead, the Secret Service is offering to send its agents and employees on an “all-expense paid” trip to an LGBTQ+ “Out and Equal” Workplace Summit at Disney World in Orlando next month, according to reporter Susan Crabtree, who obtained an email about the event on Tuesday.

“The call for nominees to attend the conference, which includes leadership plenary sessions, a “Night Out” at Disney Studios, and a gala event the final night, is rankling many rank-and-file special agents and Uniformed Division officers,” Crabtree reported.

One Secret Service whistleblower told Crabtree: “I would like to know with the operational tempo [we’re under], how they think this is an appropriate use of manpower?”

Crabtree’s report follows a federal whistleblower telling Sen. Josh Hawley, R-Mo., that DHS hasn’t changed its training methods in the wake of the July 13 assassination attempt.

According to Hawley, a whistleblower told him that the only training received by many HSI agents was a single two-hour webinar on Microsoft Teams featuring pre-recorded videos.

“The whistleblower alleged that these videos were not substantive and their playback was frequently riddled with technical mishaps, leaving the HSI agents ill-prepared for the protective mission to which they were newly assigned,” Hawley said Tuesday in a letter to Homeland Security Secretary Alejandro Mayorkas.

“To quote the whistleblower directly: ‘Imagine 1,000 people logging onto Microsoft Teams at the same time after being informed at the last minute that everyone needed to login individually,” Hawley said.

“Once it got rolling, the Secret Service instructor couldn’t figure out how to get the audio working on the prerecorded videos (which I’m told are the same videos as last year). All told, they restarted the videos approximately six times …. The content was not helpful.’”

Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

Apalachee High School Shooter Had Discord Account Dedicated to Sandy Hook

(Ken Silva, Headline USA) The student who opened fire at a Georgia high school and killed four people on Wednesday has been identified as 14-year-old Colt Gray, who now faces four counts of felony murder.

Gray is set to appear in court Friday. According to CNN, he will remain in the custody of the Georgia Department of Juvenile Justice until his 17th birthday.

Meanwhile, WSB-TV in Atlanta reportedly obtained a copy of the investigative report from May 2023, when Gray allegedly made online threats to commit a school shooting at an unidentified location and time. The FBI says it received anonymous tips about those threats, and referred them to the Jackson County Sheriff’s Office, which interviewed Gray but took no further action.

It turns out, according to WSB-TV, the FBI found out about Gray’s threats by monitoring Discord—a gaming platform where federal agents and bad actors have targeted, and at times, groomed gamers to commit acts of terrorism.

“An FBI agent monitoring the social media platform Discord had gotten the information about Colt Gray’s potential school shooting,” WSB-TV reported Thursday, citing the incident report.

 

“When deputies arrived at the home, they found Colin Gray and his son, Colt. The teen told them he deleted his Discord account before he and his father moved to their new home,” WSB-TV said.

According to WSB-TV, the Jackson County incident report stated that “Colt expressed concern that someone is accusing him of threatening to shoot up a school, stating that he would never say such a thing, even in a joking manner.”

WSB-TV also revealed that Colt Gray lied to law enforcement.

“Further investigation of the Discord account showed that the account was made after when the teen said he’d deleted his account,” the news outlet reported.

Perhaps more disturbing was Gray’s interests on Discord. The incident report reportedly states that Colt’s Discord account had a user name “written in Russian. Translation of the Russian letters spells out the name Lanza, referring to Adam Lanza, who is the perpetrator of the Sandy Hook Elementary school shooter in Newton, Conn.”

Gray’s account also reportedly was linked to a variety of IP addresses, ranging from different parts of Georgia and locations in New York and Virginia.

FBI on Discord

Headline USA has reported extensively on how mass shooters have used Discord. Most recently, Trump shooter Thomas Crooks was revealed to have an account on that platform.

NBC News reported in April 2023 that the Biden White House is “looking at expanding the universe of online sites that intelligence agencies and law enforcement authorities track.”

Around that same time last year, investigative reporter Lee Fang also published a story about how the U.S. government is partnering with private intelligence firms to spy on gaming chatrooms—revealing that the online spooks are particularly interested in conducting surveillance on teenagers.

Fang quoted an unnamed official from the Israeli threat intelligence firm CyberInt, who said: “I prefer to detect threat actors when they’re young or starting out at 14 or 15. That’s when I start observing and documenting their malicious activities. Because when they’re at that age or stage in their career, they’re a lot more careless and open. They tend to show off more.”

The latest information on the government’s targeting of gamers came in February, when the Government Accountability Office reported that the FBI increased its efforts last year to infiltrate gaming servers.

“Officials said in 2023, the FBI worked to increase engagement with gaming and gaming-adjacent companies for the annual meeting and on outreach efforts with the program manager,” the GAO report said.

“Officials said that as the FBI works with more companies, it continues to learn how companies operate, the type of behavior and content companies see on their platforms, and the extent to which companies report information as tips.”

Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

Whistleblower Leaks FBI Interview Notes w/ Iran-Linked Terrorist Who Wanted to Kill Trump

(Ken Silva, Headline USA) A whistleblower has leaked notes from the FBI’s interview with Asif Merchant, the Pakistani man arrested on July 12 for allegedly trying to hire hitmen—who were in fact undercover FBI agents—to assassinate Donald Trump.

The FBI 302—released Thursday by Sen. Chuck Grassley, R-Iowa—was drafted based on an interview Merchant had with FBI and Justice Department officials on July 17 as part of a potential plea deal. It reveals, among other things, that Merchant allegedly had an Iranian “handler” named Mehardad Yousef.

 

The interview notes also state that Merchant previously entered the U.S. last November and started networking from there.

Additionally, the interview notes suggest that Merchant and his Iranian handler wanted to assassinate Trump at one of his campaign rallies—a plot eerily similar to what ended up nearly occurring on July 13.

“MERCHANT drew two arrows on his diagram which represented from where an assassin could strike … At the top of the rectangle was a small box representing a podium where the target would be located. YOUSEF told MERCHANT that it was possible to kill the target from far away or up close,” the FBI 302 stated.

“The arrow closest to the podium represented the ‘near’ or up close option, which YOUSEF had described as ‘indoor.’ The arrow outside of the rectangle represented the ‘far’ option, which YOURSEF had described as ‘outdoor.’ YOUSEF had described the indoor killing as being donducted with a pistol, but with a high likelihood that the assassin would be captured or killed,” the FBI 302 continued.

“YOUSEF described the outdoor option as being conducted by a sniper at long range … MERCHANT believed that both the near and far options would not be successful due to security, but assessed that there was a 50% change that either tactic would succeed.”

Charging documents suggest that the Iranian plot was an FBI-controlled sting operation throughout.

In April, Merchant traveled to New York for the purpose of paying a $5,000 advance to the two undercover U.S. law enforcement officers. According to documents obtained by Just the News, Merchant was reportedly interviewed by the Joint Terrorism Task Force when he entered the Dallas airport in April because he was reportedly flagged by DHS with the identifier “WATCH LIST” and listed as a “Lookout Qualified Person of Interest.”

Despite being flagged, Merchant was granted Significant Public Benefit Parole by DHS. Some have flagged this as a significant oversight by the DHS, while others suspect that Merchant was allowed to enter the country as part of the FBI’s larger sting operation.

Merchant was arrested on July 12—the day before the Trump assassination attempt—before he could leave the U.S.

The Merchant case looks similar to the supposed 2022 Iran plot to kill former national security adviser John Bolton. In that case, the FBI claimed that a member of Iran’s Islamic Revolutionary Guard Corps–Qods Force tried assassinating Bolton—but the Iranian was never confirmed to be an IRGC-QF member, and the “assassin” he was trying to hire was an FBI informant.

The whistleblower’s disclosure of the FBI interview notes was released via Sen. Grassley, who wrote to the FBI and Homeland Security directors with questions about it.

“When did your agency become aware of Merchant’s entries into the United States? When did your agency first become aware of Merchant’s plans to carry out an assassination attempt?” Grassley asked Wray, along with demanding a slew of documents about the case.

“Provide a list of all known associates of Merchant. What is your agency doing to investigate the involvement of known associates and potential accomplices of Merchant? Are foreign governments other than Iran involved? Provide all records,” the senator also asked.

Grassley wants answers by Sept. 19. Meanwhile, there’s been no action on Merchant’s court docket.

Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

Tim Walz Subpoenaed over His Role in ‘Largest COVID-19 Fraud Scheme in the Nation’

(Ken Silva, Headline USA) Minnesota Gov. and Democratic candidate for vice president Tim Walz has been subpoenaed over his role in what has reportedly been called the “largest COVID-19 fraud scheme in the nation.” Subpoenas were also sent to the U.S. Department of Agriculture and its inspector general.

Education and the Workforce Committee Chairwoman Virginia Foxx, R-NC, announced the subpoenas Wednesday.

The subpoenas stem from a massive fraud case, in which a U.S. attorney charged 70 individuals associated with Minnesota-based Feeding Our Future in 2022 for their alleged roles in defrauding the U.S. Department of Agriculture of over $250 million in taxpayer funds—money intended to feed hungry children.

According to the charges, Feeding Our Future’s leader and other individuals “conspired to fraudulently claim $250 million in federal meals funds that were allegedly spent instead on luxury vehicles, real estate, and other unlawful purchases,” Foxx’s office said in a press release. Five individuals have been convicted of fraud to date.

Now, Foxx’s committee wants to know what Walz’s involvement with the fraud was.

“As the chief executive and the highest ranking official in the state of Minnesota, you are responsible for the [Education Department] and its administration of [Federal Child Nutrition Programs] …Statements in the press by you and your representatives indicate that you and other executive officers were involved, or had knowledge of, MDE’s administration of the FCNP and responsibilities and actions regarding the massive fraud.”

Walz has denied that the Minnesota state government was involved in any criminality.

“There’s not a single state employee that was implicated in doing anything that was illegal. They simply didn’t do as much due diligence as they should’ve,” Walz told reporters in June, when a scathing audit was released about the Feeding Our Future fraud scandal.

The subpoena against Walz demands a slew of documents, including all records with Minnesota Department of Education referring to Feeding our Future, all records with the FBI referring to the fraud allegations, all documents and communications referring to FOF partnering with the “Refugee Resettlement Taskforce from Governor Walz’s Office,” and other records.

Walz has until Sept. 18 to comply with the subpoena.

Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

Right-Wingers Duped to Covertly Work for Russia, DOJ Says

(Headline USA) They have millions of followers online. They have been major players in right-wing political discourse since Donald Trump was president. And they worked unknowingly for a company that was a front for a Russian influence operation, U.S. prosecutors say.

An indictment filed Wednesday alleges a media company linked to six conservative influencers — including well-known personalities Tim Pool, Dave Rubin and Benny Johnson — was secretly funded by Russian state media employees to churn out English-language videos that were “often consistent” with the Kremlin’s “interest in amplifying U.S. domestic divisions in order to weaken U.S. opposition” to Russian interests, like its war in Ukraine.

The Justice Department doesn’t allege any wrongdoing by the influencers, some of whom it says were given false information about the source of the company’s funding. Instead, it accuses two employees of RT, a Russian state media company, of funneling nearly $10 million to a Tennessee-based content creation company for Russia-friendly content.

After the indictments were announced, both Pool and Johnson issued statements on social media, which Rubin retweeted, saying they were victims of the alleged crimes and had done nothing wrong.

“Never at any point did anyone other than I have full editorial control of the show and the contents of the show are often apolitical. Examples include discussing spirituality, dating, and videos games … We still do not know what is true as these are only allegations,” Pool said. “Putin is a scumbag.”

In his post, Johnson wrote that he had been asked a year ago to provide content to a “media startup.” He said his lawyers negotiated a “standard, arms length deal, which was later terminated.”

Kostiantyn Kalashnikov and Elena Afanasyeva are charged with conspiracy to commit money laundering and violating the Foreign Agents Registration Act. They are at large, and it was not immediately clear if they had lawyers.

With the decline of traditional media like newspapers and limits on direct advertising on social media platforms, influencers are increasingly playing a key role in politics and shaping public opinion. Both the Republican and Democratic parties invited scores of influencers to their respective national conventions this summer. But with little to no disclosure requirements about who is funding influencers’ work, the public is largely in the dark about who is powering the messaging online.

Though the indictment does not name the Tennessee-based company, the details match up exactly with Tenet Media, an online media company that boasts of hosting “a network of heterodox commentators that focus on Western political and cultural issues.” Tenet’s website lists six influencers who provide content, including Pool, Johnson, Rubin, Lauren Southern, Tayler Hansen and Matt Christiansen.

Tenet Media’s six main influencers have more than 7 million subscribers on YouTube and more than 7 million followers on X.

The influencers who make up the bench of talent at Tenet Media have amassed millions of loyal followers who agree with their staunch conservatism and brazen willingness to voice controversial opinions. Their channels also have created communities for conservative Americans who have lost trust in mainstream media sources through Trump’s 2020 loss and the COVID-19 pandemic.

The indictment shows that some of the influencers were paid handsomely for their work. One unidentified influencer’s contract included a $400,000 monthly fee, a $100,000 signing bonus and an additional performance bonus.

Tenet Media’s shows in recent months have featured high-profile conservative guests, including Republican National Committee co-chair Lara Trump, former Republican presidential candidate Vivek Ramaswamy and U.S. Senate candidate Kari Lake. The nearly 2,000 videos posted by the company have gotten more than 16 million views on YouTube alone, prosecutors said.

Pool, a journalist-turned-YouTuber who first gained public attention for livestreaming the Occupy Wall Street protests, hosted Trump on his podcast earlier this year.

Johnson is an outspoken Trump supporter and internet personality who was fired from BuzzFeed after the company found evidence he’d plagiarized other works.

Rubin was previously part of the liberal news commentary show “The Young Turks” but has since identified as a libertarian. He boasts the largest YouTube following of Tenet’s influencer roster and hosts a show called “The Rubin Report.”

Tenet Media President Liam Donovan is the husband of Lauren Chen, a Canadian influencer who has appeared as a guest in several Tenet Media videos. Chen is affiliated with the conservative youth organization Turning Point USA and has hosted shows for the right-wing network Blaze Media. RT’s website also lists her as a contributor of several opinion articles from 2021 and 2022.

Adapted from reporting by the Associated Press

Is Gold in the Beginning Stages of a Bullish ‘Supercycle?’

(Mike Maharrey, Money Metals News Service) Is gold in the midst of a supercycle? A Wells Fargo analyst thinks so. Gold has had quite a bull run in 2024. The yellow metal is up over 21.6 percent this year, ranking among the best-performing assets. Along the way, it has hit new all-time highs more than 20 times. 

The first leg of the bull run occurred between mid-February and mid-April as gold moved from around $1,900 to $2,390. There was consolidation at that level over the summer before the recent run up to over $2,500. Now it appears we’re in a period of consolidation around that level. 

During a recent interview with Kitco News, Wells Fargo Head of Real Asset Strategy John LaForge said gold appears to be catching up with a broader “supercycle” in commodities that started during the pandemic.

“In the first few years of the gold market, in 2020 and 2021, gold’s performance was disappointing compared to other commodities. Most commodities doubled.”

LaForge went on to say that “gold has finally reacted,” calling it “a big deal.” 

“It confirms that we are in a supercycle.”

LaForge said we might see momentum slow as we move into the final months of 2024, but he doesn’t see the bullish trend reversing anytime soon. 

“Maybe we get some pullbacks, or gold just keeps grinding higher; the bias right now is to the upside.”

He went on to say that he thinks $2,500 just “seems like the next stop.”

Gold has not only set records in dollar terms, but it has eclipsed record highs in all major currencies this year. LaForge said that supports the idea that we are in the midst of a sustainable rally. 

LaForge pinpointed inflation as a significant driver for the gold market and commodities more generally. He said rising commodity prices supported gold in the early stages of the supercycle as lumber, copper, and many other commodity prices soared.

Those prices have moderated in recent months, but LaForge thinks investors are now looking to gold as a hedge against debt-driven inflation. He specifically mentioned the rapidly rising government debt in the United States.

“Debt continues to grow, and I don’t see that changing. Rising debt could actually drag the supercycle out longer than the 10-year average. I just don’t know how the country pays back $35 trillion in debt.” 

Investors should also consider that while the mainstream seems to think the Federal Reserve has managed to beat inflation back, in reality, the central bank has surrendered to inflation and is set to ramp up inflationary monetary policy. 

In fact, government officials and central bankers don’t want to beat inflation. They want inflation. It is the stated policy.


Mike Maharrey is a journalist and market analyst for MoneyMetals.com with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.