Ex-Obama Fundraiser: Letitia James’s Trump Vendetta a ‘Slippery Slope’

(Headline USA) A former fundraiser for President Barack Obama admitted this week that New York Attorney General Letitia James’s case against former President Donald Trump was “so wrong.”

Trump was ordered last month to pay a massive $400 million fine by New York Judge Arthur Engoron, who presided over James’s civil lawsuit against the former president and his business empire. Trump now has to remit a $464 million bond if he wants to appeal Engoron’s decision.

Don Peebles, a millionaire who helped fundraise for Obama’s first campaign, said the case could have a serious chilling effect on business in New York and that James never should have pursued it.

“I have expressed concern that I think that this is a very slippery slope to selectively enforce an archaic law that has got no victim,” he told Fox News host Neil Cavuto.

Peebles added that the hefty remittance bond being forced on Trump was an effort by James and the state to do as much damage to the former president while it could.

“I think they are confident—or think it’s likely—that this will get reversed, and then there will be no punishment,” he said. “So they’re rushing to inflict as much pain on him as they can right now because once the appeals court puts an end to this, then there will be no repercussions.”

Peebles, a Miami Beach-based real estate developer, remains good friends with the Obamas, but has become more critical of the Democratic Party under the Biden administration. Last month, he called on the party to ditch President Joe Biden and Vice President Kamala Harris.

“I think that the Democratic Party should turn the page,” Peebles said.

“… I don’t see how [Biden] can beat Donald Trump,” he added. “If all that’s been thrown at the former president has been thrown at him, and he’s still ahead in the polls—it’s telling us all something that Americans don’t want [Biden] and this administration anymore, and it’s time for him to move on for the good of the country.”

Biden Blocks Media Access to Site of Shocking Border Stampede

(Luis Cornelio, Headline USA) The Biden administration has sent an explicit message to the media, blocking access to the location where a harrowing incident unfolded involving hundreds of illegal aliens forcefully pushing through a group of Texas National Guardsmen.

After a video of the alarming scene went viral on Thursday, the Biden administration moved swiftly on Friday to close off access to the border section where the incident occurred, as reported by a New York Post journalist who filmed the event. Biden’s message to reporters was clear: Nothing to see here, folks.

“Members of the media: Please stay off the ramp and away from the sliding gate,” reads a sign placed by two Border Patrol agents, right at the site of the incident.

The sign gives a dire warning to reporters, emphasizing: “DO NOT disrupt U.S. Border Patrol Operations by being in the way of transportation vehicles. DO NOT attempt to make contact with migrants unless authorized by U.S. Border Patrol officials.”

At the sign’s bottom, contact information for the U.S. Border Patrol Public Affairs Office is provided, alongside the insignia of the El Paso Sector Texas officer of the U.S. Customs and Border Protection.

Journalists documenting the chaos unfolding along the southern border have criticized the announcement of restricted access in several tweets.

“How do we do our jobs now?” questioned Jennie Taer, the Post reporter behind the viral videos, which collectively have garnered over 20 million views on Twitter alone. 

Bill Melugin, a border correspondent for Fox News, noted that this move to block access seemed to follow a pattern of preventing reporters from capturing federal border chaos.

“Reminds me of when the [Federal Aviation Administration] grounded our @FoxNews drone in Del Rio in 2021 by issuing a random TFR when we were the first ones to start showing images of the thousands of Haitians gathering under the international bridge,” Melugin said on Twitter, recalling a previous incident.

He added that he was then taken on a helicopter tour of the southern border by the Texas Department of Public Safety.

The chaos ensued after Taer shared videos on Twitter depicting illegal aliens apparently confronting the Texas National Guard at a section of the border where a fence had been breached. 

The illegal aliens engaged in a confrontation with the guardsmen, overpowering them and breaching a second layer of fencing seemingly under federal control.

Baltimore Sells Abandoned Houses for $1 to Revitalize Neighborhoods

(Jacob Bruns, Headline USA) The city of Baltimore, Maryland, is seeking to sell off some of the vacant, city-owned row houses for as little as $1 a piece in a last-ditch attempt to revitalize its crumbling, once-historic neighborhoods, the Baltimore Sun reported.

The proposal, backed by Mayor Brandon Scott, includes the sale of over 200 lots for as low as $1 each to local residents who are willing to commit to renovating the boarded-up units.

The city reportedly had a similar program several decades ago, in the 1970s, when confronting a similar situation.

The properties will be sold at that price to those who plan to repair the homes and live in them. Larger developers will have to pay $3,000 in order to acquire the properties.

The program passed by a 4-1 vote in the Baltimore City Council, and the Baltimore Board of Estimates approved the program on March 20.

The only dissenting vote came from City Council President Nick Mosby—ex-husband of the scandal-plagued, now-indicted former city prosecutor Marilyn Mosby. He argued that the program lacked provisions to guarantee that current residents in those neighborhoods were not driven out after the neighborhoods were once again made nice.

“If affordability, and affordable home ownership, and equity, and all of the nice words we like to use are really at the core competency as it relates to property disposition, this is a really bad policy,” Mosby said.

“This is a bad policy because it doesn’t protect or prioritize the rights of folks in these communities,” he added.

Baltimore city officials, however, argued that Mosby was wrong, citing the program’s 90-day window wherein Baltimore residents applying would have a chance to buy into the homes before anyone else.

One thing the report failed to mention, however: why Baltimore was in the current predicament in the first place.

At least in part, rampant crime—along with corruption and municipal mismanagement from city officials like the Mosbys—have caused people to leave Baltimore.

For some time, the crime-ridden city has had difficulty in enforcing laws that would help guarantee civil order, causing people to intentionally leave certain neighborhoods.

That has led to a vicious downward spiral, with the city also seeing its education rates plummet.

In multiple Baltimore high schools, a 2022 snapshot indicated that more than three-quarters of students had an elementary-level reading proficiency.

And state-level tests last year showed that 13 of the city’s 32 public schools had a 0% proficiency rate in math, while in the top-five schools, only 11.4% of students demonstrated proficiency, WBFF reported.

Headline USA’s Ben Sellers contributed to this report.

Dems’ Election-Fixing to Protect Biden in Fla. Helps Local Republicans Win Seats

(Jacob Bruns, Headline USA) In order to secure the state of Florida for incumbent President Joe Biden during the recent primary election, Florida Democrats cancelled their primary, awarding Biden the delegates automatically.

Fortunately for Republicans, the move backfired when thousands of Democratic voters did not turn out to vote in local elections across the state, The Federalist reported.

Democrats first made the announcement that they would only put forward Biden on the presidential primary ballot in November 2023.

The news angered some Democrats, who said the move by the Democratic National Committee brought flashbacks of its controversial 2016 attempt to rig the primary in favor of Hillary Clinton by freezing out socialist candidate Bernie Sanders and others.

“Americans would expect the absence of democracy in Tehran, not Tallahassee,” said Rep. Dean Phillips, D-Minn., one of the would-be challengers.

“The intentional disenfranchisement of voters runs counter to everything for which our Democratic Party and country stand,” he added. “Our mission as Democrats is to defeat authoritarians, not become them.”

As a result of lower Democratic turnout, Republicans and their allies managed to flip several key seats.

Clearwater mayoral candidate Bruce Rector, who was backed by Republicans in a nonpartisan race, succeeded in flipping several city council seats in a purple-to-blue city.

According to the Tampa Bay Times, Rector and company pulled off the mild upset due to a “significant conservative turnout.”

In Apopka City, Republican incumbent City Commissioner Nick Nesta won another term, while fellow Republican Nadia Anderson took a seat previously held by Democrats.

In Delray Beach, Republican Tom Carney flipped the mayorship, beating out two opponents by more than 10 points each—one of whom was a DEI Democrat.

Republican-aligned mayoral candidate Peggy Wheeler also beat out a Democrat-aligned inclumbent, Mayor Alexander Cooke, in June Beach.

There were also several close races won by Democrats that could have major implications for November 2024.

In Orange County—a county that Biden dominated by 20 points in 2020—some races were far closer than anticipated.

For example, Democrat-backed George Oliver won his seat on the Ocoee City Commission, in Orange County, by just 44 votes.

Meanwhile, former President Donald Trump, who is now the presumptive GOP nominee for president, cleaned house in the state as he barrels toward a 2024 showdown with Biden.

Blue State Literally Lowers the Bar on Lawyer Requirements to Help Minorities

(Molly Bruns, Headline USA) In bygone years, aspiring lawyers who wished to save the money and time of going to law school, or who were simply so gifted that they didn’t need it, could do as future President Abraham Lincoln did and just “read for the Bar.”

The test itself was understood to be the ultimate measure of one’s competency, regardless of background, financial circumstances and other factors that might inhibit a budding legal career.

Now, however, woke leftists complain the expectations of competency themselves are inhibiting some from realizing their potential dreams—and indeed that such demands are a pernicious form of systemic racism used to exclude minorities from enjoying the benefits of wealth and power that often accompany competency in a profession.

The Washington state Supreme Court last week ruled that potential lawyers do not have to take the bar exam in order to obtain their legal license.

The court approved other forms of qualification to display competency, allowing bar-avoiders to get a legal license while avoiding the test, according to the Spokesman–Review.

“These recommendations come from a diverse body of lawyers in private and public practice, academics, and researchers who contributed immense insight, counterpoints and research to get us where we are today,” said Washington Supreme Court Justice Raquel Montoya–Lewis. “With these alternative pathways, we recognize that there are multiple ways to ensure a competent, licensed body of new attorneys who are so desperately needed around the state.”

The alternatives include a six-month apprenticeship at a law firm, completing 12 qualifying skill credits and 500 hours of work as a licensed legal intern, or by completing standardized materials with the assistance of a mentoring attorney.

The nuts and bolts of the program, such as what students who fail to pass the bar will be able to do, remain unknown by the task force and court who made the ruling.

Jacob Rooksby, dean of the Gonzaga School of Law, expressed cautious optimism for the alternative pathways. However, he said he hoped that officials would implement the program incrementally as they work out the details.

“I urged that we move in this direction cautiously and viewing it almost as a case study or a trial to see: How could the different schools implement it but in a small scale?” he said.

The court also lowered the minimum passing score for the bar exam from 270 to 266.

The justices argued that lowering the standard for potential lawyers will allow people from “marginalized groups” to become lawyers more easily.

Oregon was the first state to implement a similar change at the start of 2024; Minnesota, Nevada, South Dakota and Utah are reportedly making similar changes.

Headline USA’s Ben Sellers contributed to this report.

Sports Illustrated to Continue after Agreement Reached w/ New Publisher

(Headline USA) Sports Illustrated will continue operations after the company that owns the brand agreed with a new publisher for its print and digital products.

Minute Media took over on Monday after reaching a licensing agreement with Authentic Brands Group. On Jan. 19, Authentic announced that it was revoking the Arena Group’s publishing license after Arena failed to make a quarterly payment.

The news also broke that Sports Illustrated had announced mass layoffs, firing half its staff as a result of its foundering finances.

For many, it seemed the logical outcome for a brand that had lost its way in recent years, alienating its core audience by shifting its focus away from sports to push a radically woke political agenda.

The hallmark moment was its decision to use a transgender model on the cover of its annual “swimsuit edition.” The following year, it released four covers—including one with another transgender model, an obese model and an elderly model.

It likewise celebrated far-left political activists such as Lebron James and Megan Rapinoe as its “sportsperson of the year” in recent editions, offering them a platform to spew their vicious invective during the Donald Trump presidency, which may have led some loyal readers to cancel their subscriptions and boycott the publication.

Authentic—which has been in negotiations with Arena, Minute Media and other publishing entities over the past two months—will also acquire an equity stake in Minute Media, the publisher of online sites The Players’ Tribune, FanSided and 90min. Other terms, including the length of the deal, were not announced.

“Sports Illustrated is the gold standard for sports journalism and has been for nearly 70 years across both print and digital media,” Minute Media founder and CEO Asaf Peled said in a statement.

“The weight and power of that distinction cannot be understated,” he added. “At Minute Media, our focus will be to take that legacy into new, emerging channels, enhancing visibility, commercial viability, and sustainable impact, all while ensuring that the SI team is inspired to flourish in this new era of media.”

What this means for the writers and others who produce Sports Illustrated remains to be seen.

Minute Media will begin meeting with SI employees over the next couple of weeks as it determines how much of the staff it will retain, according to a person with knowledge of the transition.

The person spoke to the Associated Press on condition of anonymity because the person was not authorized to speak publicly about them.

SI co-Editor in Chief Stephen Cannella told employees in a memo to continue operating as if it were business as usual for now.

“We have said from the start that our top priorities are to keep Sports Illustrated alive, uphold the legacy of the institution and protect our union jobssaid Emma Baccellieri, an SI staff writer and vice chair of the employee union that the NewsGuild represents. “We look forward to discussing a future with Minute Media that does that.”

The Arena Group acquired publishing rights from Authentic in 2019 for at least 10 years, but it had many hurdles.

In December, it fired chief executive officer Ross Levinsohn when the magazine’s alleged use of AI-generated stories drew public backlash.

Sports Illustrated has had a rough six years. It was acquired by Meredith Publishing in 2018 as part of the purchase of Time Inc., which started the magazine in 1954.

Less than a year later, Meredith sold the magazine’s intellectual property to Authentic for $110 million. Authentic owns the intellectual property of many brands and stars, including Marilyn Monroe, Elvis Presley, Muhammad Ali and Reebok.

Once a weekly publication, Sports Illustrated was reduced to biweekly publishing in 2018 and became a monthly in 2020.

“In Minute Media, we have found a partner that will honor SI’s lauded legacy and exceed fan expectations for the future,” said Daniel W. Dienst, Authentic’s executive vice chairman, tactical ops, in a statement.

“As Minute Media shepherds the SI brand across a rapidly evolving media landscape, our priority at Authentic is—and has always been — to protect its journalistic integrity and longevity,” Dienst continued. “Minute Media has successfully proven that they are leading the way in a new era of sports storytelling, and we are excited and optimistic about this partnership and the future of Sports Illustrated as the preeminent lens into sport.”

Adapted from reporting by the Associated Press

Axel Merk Analyzes Macro Trends, Monetary Policy Post-Fed Meeting

(Money Metals News Service) In a recent interview conducted by Mike Maharrey from Money Metals with Axel Merk, President and Chief Investment Officer of Merk Investments, they discussed the impacts of macro trends, Federal Reserve policies, and the outlook on gold markets following a Federal Reserve meeting.

Axel Merk highlighted the significant influence of the Federal Reserve’s actions and messaging on the economy, criticizing the lack of a quantitative approach in their policy decisions. He pointed out the historical consequences of the Fed’s policies, including inflationary periods and the Great Depression, and emphasized the importance of a medium to long-term strategy over immediate actions. 

(Interview begins at the 6:27 mark)

Despite the recent Fed meeting’s lack of policy change, Merk argued that the Federal Reserve has not adequately addressed inflation and criticized their communication strategy for adding to market volatility and uncertainty.

There are 3 kinds of lies: lies, damned lies, and statistics.

During the discussion, Merk and Maharrey examined the Fed’s reliance on dot plots and forward guidance, questioning their effectiveness and accuracy. Merk critiqued the shift towards these tools and the removal of market-based indicators, which has complicated monetary policy and obscured the health of the economy. He also touched upon the distortions in economic data and the misleading nature of short-term indicators.

The conversation shifted to the Federal Reserve’s quantitative tightening and its impact on the financial system. Merk described the challenges faced by the Fed in managing the balance sheet and the interplay with fiscal policy. He expressed concern over the lack of market-based feedback and the consequences of excessive and unsustainable government deficits.

Global Gold Rally

Focusing on gold markets, Merk provided insights into the recent gold rally and its sustainability. He attributed much of the demand for gold to foreign central banks diversifying away from U.S. treasuries and discussed the different types of gold buyers. Merk also explored the potential effects of economic conditions on gold prices and the implications for investors.

Questions and Answers

In the interview between Mike Maharrey and Axel Merk, several key questions were raised and answered, providing insights into Federal Reserve policies, macroeconomic trends, and the gold market. 

Has the Federal Reserve done enough to tackle price inflation?

Axel Merk’s response: The Fed hasn’t done enough; their approach lacks a quantitative strategy, making their actions less predictable and potentially ineffective. The effectiveness of the Fed’s policies should be judged over the medium to long term, and their current communication strategy may contribute to market volatility and job losses.

How credible are the Federal Reserve’s projections and dot plots?

Axel Merk’s response: Dot plots and forward guidance from the Fed are unreliable and often misunderstood. They’ve become a confusing tool rather than providing clear guidance. The Fed’s shift away from market-based indicators to tools like dot plots complicates monetary policy and detracts from its clarity and effectiveness.

Is the current interest rate level causing unseen damage to the economy?

Axel Merk’s response: The true impact of current interest rates is uncertain, as neither the Fed nor analysts have a crystal ball. However, historically, tight monetary policies lead to recessions. Current economic data might be stronger than anticipated, but consumer delinquencies are rising, suggesting underlying issues.

What is the significance of the Fed’s balance sheet reduction?

Axel Merk’s response: Quantitative tightening (QT) is complex and its effects are unclear. The Fed’s reduction of the balance sheet is a response to previous expansions, but its real impact on monetary policy and market health is debatable. It reflects the Fed’s struggle with managing monetary policy without clear market-based indicators.

What is driving the current gold rally, and is it sustainable?

Axel Merk’s response: The rally is driven by diverse factors including demand from foreign central banks, diversification strategies, and concerns about the U.S. dollar’s purchasing power. The sustainability of the rally depends on various economic factors and investor behavior, including the Fed’s future monetary policy actions.

What are your thoughts on the price trajectory of gold and silver?

Axel Merk’s response: The future prices of gold and silver depend on economic outlooks, Fed actions, and market sentiment. While precise predictions are challenging, economic downturns and Fed easing cycles could favor gold prices. Silver, while generally tracking gold, has its dynamics influenced by industrial demand.

How does monetary policy impact the valuation of gold?

Axel Merk’s response: Gold is often seen as a reflection of monetary policy and the health of the U.S. dollar. It doesn’t change inherently; rather, its valuation reflects changes in the economic environment and monetary policy. Gold’s role as a store of value becomes more pronounced amid monetary uncertainty.

These questions and answers shed light on the complexities of Federal Reserve policies, their impact on the economy, and the factors influencing the gold market. Merk advocates for a risk management approach in investments, highlighting the uncertainties and challenges in predicting economic trends and the effects of monetary policies.

Conclusion

In conclusion, Axel Merk emphasized the importance of humility and risk management in investment strategies, advocating for a balanced perspective on economic and monetary policies. He provided avenues for following his work and analysis, encouraging critical thinking and a broader understanding of market dynamics.

Mike Maharrey wrapped up the interview by thanking Axel Merk for his insights and highlighted the value of understanding the complex interplay between monetary policy, macroeconomic trends, and investment decisions, particularly in the context of precious metals like gold and silver.

Ala. Gov. Signs Law Blocking DEI Programs

(Headline USA) Following the lead of Florida and other red states that have fought back against the woke incursion threatening to overtake their education system and other institutions, Alabama Gov. Kay Ivey on Wednesday signed legislation that would ban diversity, equity and inclusion programs at public schools, universities and state agencies.

“My administration has and will continue to value Alabama’s rich diversity,” Ivey said in a statement.

“However, I refuse to allow a few bad actors on college campuses—or wherever else for that matter—to go under the acronym of DEI, using taxpayer funds, to push their liberal political movement counter to what the majority of Alabamians believe.”

The new law, which takes effect Oct. 1, seeks to prohibit the teaching of topics like critical race theory that promote the idea that specific individuals should feel guilty because of their race or gender—an idea that is antithetical to America’s core principles and one long challenged by the civil rights struggles of the 20th century only to be subverted by opportunistic Marxist radicals aiming to to foment racial discord for political gain.

The effort comes just eight months after a jaw-dropping report released by the Claremont Institute’s Dr. Scott Yenor that specifically addressed the issue of DEI programs at two of the state’s top public universities: Auburn and the University of Alabama.

“While Alabama’s two major universities are not yet among the nation’s most extreme, they will hardly resemble the universities that Alabamans have long respected if current trends continue,” Yenor wrote in the report’s executive summary.

“Alabama and Auburn have adopted extensive plans for the recruitment of minority students, faculty, and staff, and for transforming the campus culture to represent the DEI ideology,” he added. “The combined cost of DEI programming and personnel at Alabama and Auburn exceeds $5 million annually, according to our estimates.”

The new legislation would prohibit universities, K-12 school systems and state agencies from sponsoring DEI programs—defined under the bill as classes, training, programs and events where attendance is based on a person’s race, sex, gender identity, ethnicity, national origin or sexual orientation.

The bill also says schools, universities and state agencies cannot require students, employees and contractors to attend any class or training session “that advocates for or requires assent” to what the bill lists as eight “divisive concepts.”

The list of banned concepts includes that “any individual should accept, acknowledge, affirm, or assent to a sense of guilt, complicity, or a need to apologize on the basis of his or her race, color, religion, sex, ethnicity, or national origin,” or that fault, blame or bias should be assigned to people based on race, religion, gender or national origin.

Alabama House Minority Leader Anthony Daniels said that preventing teachers and other authority figures from indoctrinating captive audiences to the notion that they were inherently inferior or superior based on race—and that some, by virtue of their identity, were entitled to different treatment—would eradicate all the advances that Democrats had made in the post-Obama era.

“This regressive measure undermines the strides we’ve made in cultivating an inclusive society in Alabama by stifling essential discussions and programs that are key to improving our state,” he claimed.

Without the additional DEI resources devoted exclusively to them, certain racial minorities would be incapable of making it on their own in a rigorous academic environment, he added.

The new law “detrimentally impacts the educational experience of college students by removing programs in which they can receive support, build communities, and learn how to be prosperous and inclusive citizens,” he said.

Auburn said in a letter to faculty, staff and students that it was evaluating the new law’s implications.

The measure will affect “use of state funds to sponsor DEI programs and activities” but does not prohibit instruction associated with accreditation standards and academic support for students of a particular demographic, university leadership wrote.

“We are resolute in our mission to deliver exceptional student experiences and to provide support to all of our students with particular emphasis on providing access and opportunity,” the letter said.

Also Wednesday, an Alabama House committee advanced legislation that would ban teacher-led discussions in public schools on sexual orientation and gender identity and prohibit displaying LGBT “pride” flags in classrooms. The measure now moves to the full House.

The bill also seeks to prohibit transgender people on college campuses from using multiple occupancy restrooms that correspond with their non-biological gender.

The legislation says colleges and universities “shall ensure that every multiple occupancy restroom be designated for use by individuals based” on the sex that a person was assigned at birth.

It is unclear how the requirement would be enforced, although it most likely would require that schools maintain the status quo instead of actively promoting gender inclusive signage and other measures that have become recent parts of the leftist push to force transgender acceptance.

Adapted from reporting by the Associated Press

Another Satanic Cultist Jailed, This One a British Teenager

(Ken Silva, Headline USA) BBC News reported Friday that a teenager who participated in chat groups promoting Satanism, Nazism and pedophilia has been imprisoned on terrorism charges and for having videos of a girl cutting his name into her body.

BBC said it could publicly name the teenager, 17-year-old Vincent Charlton, of Birtley, Gateshead, after it made an application to the court. According to the BBC, Charlton pleaded guilty in 2023 to disseminating terrorist publications, four counts of possessing documents useful to a terrorist, and making and possessing indecent images of children.

A UK judge reportedly sentenced Charlton to 22 months imprisonment, saying there was a “significant risk of him causing serious harm.”

According to prosecutors, Charlton’s mobile phone contained videos of a 13-year-old girl in the US. The prosecution said the messages between them “demonstrate the control Vincent exerted over a vulnerable young child which caused her to harm herself and send images of that harm to him.”

“In one online channel Charlton uploaded 939 documents, including bomb-making manuals,” BBC reported.

“When asked by another user if he was going to ‘blow up a school,’ Charlton responded by saying ‘of course,’ and then shared a guide on how to build a pipe bomb and another on assassination techniques.”

BBC also reported evidence that Charlton was a member of a Telegram group associated with 764—an online Satanic cult that targets young girls and encourages them to commit sexual acts and self-harm.

Additionally, the judge reportedly said Charlton had promoted the Order of the Nine Angles— a terroristic cult that seeks to corrupt the youth with the end goal of accelerating the collapse of Western society.

According to the Justice Department, the 764 cult “represents a radical shift in the group to specifically target children and use [child porn] and videos depicting animal cruelty, self-harm, and other acts of violence to accelerate chaos in society,” the DOJ said in recent court filings.

Charlton is one of a slew of O9A- and 764-affiliated Satanists to be prosecuted in recent months.

The government’s crackdown on the above-mentioned Satanic pedophile groups started in November 2021, when the FBI arrested 764 member Angel Almeida. Details of Almeida’s 764 activities weren’t made public until records about his case were unsealed late last year.

More recently, the Justice Department filed charges in December against another 764 member, Kalana Limkin, for allegedly promoting child pornography, sexual extortion, and trafficking, animal cruelty and self-harm of minors.

Additionally, last month U.S. Marshals arrested 764 member Kyle Spitze on child porn charges. Spitze’s disturbing story can be read here.

And more recently as it pertains to teenage members, Canadian police announced last month the arrest of a 14-year-old male who was affiliated with 764.

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

Gold & Silver Eye Higher Price Levels as Fed Fumbles

(Mike Gleason, Money Metals News Service) As the Federal Reserve confirms plans to cut interest rates later this year, Jay Powell’s shifty stance on inflation has left many Fed watchers scratching their heads – and others crying foul. 

On Wednesday, Fed policymakers opted to keep their benchmark Funds rate unchanged for now, as expected. However, they also telegraphed three rate cuts in 2024.

Fed chairman Jerome Powell’s dovish remarks following the decision brought cheers from Wall Street and presumably the White House as well. 

But Powell had a tough time telling a coherent story between prepared remarks and testimony on Capitol Hill. He admitted that inflation remains elevated above the Fed’s 2% target and said he can’t offer any assurance that it will come down. 

But that’s okay because it’s not actually the Fed’s goal to see inflation come down – even though Powell thinks it’s currently too high. The Fed will view it as progress if inflation stays where it’s at. Because that will somehow mean inflation is on a path lower – even if it’s not actually moving lower.

It would probably require an advanced degree in Fedspeak to make sense of what the 2% inflation target actually means these days.  But you can listen to Powell’s words for yourself and see if you can decipher what the heck he’s trying to say.

Jerome Powell:

Inflation is still too high. Ongoing progress in bringing it down is not assured, and the path forward is uncertain. We are fully committed to returning inflation to our 2% goal. 

We’re not looking for inflation to go all the way down to 2%, that’s not what we’re looking for. What we want is just more evidence that will give us more confidence that inflation is on a path down to 2% sustainably. So, that will come in the form of good inflation readings, really. 

We’d like to see more, good, relatively low inflation readings. We’re not looking for better inflation readings than we’ve had, we’re just looking for more of them. So, we’re just being careful. And because the economy is so strong and the labor market’s so strong, we think we can and should be careful.

If the economy really is “so strong” as Powell claims, and inflation is still running too high as he admits, then central bankers would seem to have a clear mandate to engage in monetary tightening, not easing.  With the stock market already trading at record highs, more stimulus in the form of rate cuts could risk blowing up a massive bubble. 

Jay Powell and company cannot articulate a clear rationale for rate cuts that makes any sense from the standpoint of the Fed’s mandate to pursue price stability. Powell’s attempt this week to justify a pivot toward easing was so nonsensical that critics say the real reason why the Fed is readying rate cuts is politics. 

It is an election year, after all.  And Democrats know that the economy falling into recession would be a disaster for the re-election prospects of Joe Biden.  They want to keep the numbers propped up through November at all costs. 

The Fed describes itself as an independent institution that is unmoved by politics. But a group of Senate Democrats led by ultra-liberal Elizabeth Warren apparently thinks the Fed can be moved by political pressure.  

Warren and her allies are demanding the Fed cut rates as soon as possible. They say “green” jobs created by the so-called Inflation Reduction Act are at risk as the alternative energy sector struggles with high financing costs. 

Warren is asking central bankers to effectively let inflation run hotter in the name of supporting Biden’s Green New Deal programs. These programs were sold to the public under the guise of “inflation reduction.”  The irony apparently doesn’t register with Elizabeth Warren.

In any event, investors should prepared for high inflation to persist. Inflation risks may be to the upside near term as the election approaches and new stimulus schemes get rolled out. 

The price direction of precious metals markets may also be to the upside in the months and years ahead.  This week gold has been trading back up near record highs. 

Metals markets faced the headwind of a rising U.S. Dollar Index this week. The Federal Reserve note gained against foreign currencies despite the Fed’s dovish embrace of rate cuts. 

The dollar’s apparent relative strength may have more to do with trend-chasing capital flowing into U.S. equity and bond markets. Financial assets are getting a boost from expectations of lower rates. But by the time the first rate cut comes, investor enthusiasm may have already peaked. 

When optimism fades and concerns about inflation and the economy come to the forefront, precious metals will likely have the opportunity to begin outperforming vulnerable financial assets. 


Mike Gleason is a Director with Money Metals Exchange, a national precious metals dealer with over 500,000 customers. Gleason is a hard money advocate and a strong proponent of personal liberty, limited government, and the Austrian School of Economics. A graduate of the University of Florida, Gleason has extensive experience in management, sales, and logistics, as well as precious metals investing. He also puts his longtime broadcasting background to good use, hosting a weekly precious metals podcast since 2011, a program listened to by tens of thousands each week.