Thursday, October 9, 2025

Biden’s DOJ Spied on Members of Congress, Documents Reveal

(Luis CornelioHeadline USA) Newly released documents revealed that former Special Counsel Jack Smith secretly spied on the communications of at least nine GOP lawmakers as part of the so-called Arctic Frost probe into President Donald Trump and the events of Jan. 6. 

Smith specifically targeted the personal cell phones of eight senators and one representative to purportedly obtain “tolling data” between Jan. 5, 2021, and Jan. 7, 2021, according to FBI documents published by the Senate Judiciary Committee. 

The Republican lawmakers targeted were Sens. Lindsey Graham, R-S.C., Bill Hagerty, R-Tenn., Josh Hawley, R-Mo., Dan Sullivan, R-Alaska, Tommy Tuberville, R-Ala., Ron Johnson, R-Wis., Cynthia Lummis, R-Wyo., Marsha Blackburn, R-Tenn. and Rep. Mike Kelly, R-Pa. 

The never-before-seen documents expose the broad extent to which Smith and the Biden DOJ went to crack down on political opponents after some Trump supporters entered the U.S. Capitol to protest the certification of the 2020 election. 

In a statement, Senate Judiciary Committee Chairman Chuck Grassley, R-Iowa, called the spying “arguably worse than Watergate.” 

“What I’ve uncovered today is disturbing and outrageous political conduct by the Biden FBI,” Grassley said. “The FBI’s actions were an unconstitutional breach, and Attorney General Bondi and Director Patel need to hold accountable those involved in this serious wrongdoing.” 

The data collected by Smith included call logs of the Republican lawmakers — dates, duration, general location and receivers of the phone calls. Grassley noted the FBI did not capture the actual content of the calls since the searches took place in 2023, two years after the calls were made. 

This revelation comes after whistleblowers exposed that the FBI also seized government-issued cell phones from Trump and former Vice President Mike Pence as part of the probe. The effort even involved coordination with officials inside the Biden White House, who helped the FBI secure the devices. 

Smith’s vindictiveness was also evident after the DOJ subpoenaed banks for the records of 92 Republican and conservative groups as part of the probe. Among those targeted was Turning Point USA, the nonprofit founded by slained activist Charlie Kirk. 

Smith is now under investigation by the U.S. Office of Special Counsel over allegations he violated the Hatch Act by engaging in political activity. 

Bari Weiss is the New Editor-in-Chief of CBS News after Paramount Buys Her Website

(Headline USA)  Paramount said Monday that it has bought the news and commentary website The Free Press and installed its founder, Bari Weiss, as the editor-in-chief of CBS News, saying it believes the country longs for news that is balanced and fact-based.

It’s a bold step for the television network of Walter Cronkite, Dan Rather and “60 Minutes,” long viewed by many conservatives as the personification of a liberal media establishment. The network is placing someone in a leadership role who has developed a reputation for resisting orthodoxy and fighting “woke” culture.

“I am confident her entrepreneurial drive and editorial vision will invigorate CBS News,” said David Ellison, who took over this summer as the corporate leader overseeing the network when his company, Skydance, purchased Paramount. “This move is part of Paramount’s bigger vision to modernize content and the way it connects — directly and passionately — to audiences around the world.”

No purchase price was announced for The Free Press, which has grown to reach 1.5 million subscribers since Weiss started it in 2021 after leaving The New York Times as an opinion editor. When she left the Times, she wrote a letter of resignation that spoke of a culture of intolerance at the newspaper and said she was bullied by colleagues who disagreed with her.

Weiss will report directly to Ellison and partner with the current CBS News President Tom Cibrowski, who reports to Paramount executive George Cheeks.

Editor-in-chief is a new role at CBS News. Ellison said that Weiss will “shape editorial priorities, champion core values across platforms and lead innovation in how the organization reports and delivers the news.”

In a letter to CBS News employees on Monday, Weiss said that watching CBS was part of a family tradition growing up in Pittsburgh. Her goal in the next few weeks is to get to know the staff, she said.

“I want to hear from you about what’s working, what isn’t, and your thoughts on how we can make CBS News the most trusted news organization in America and the world,” Weiss wrote. “I’ll approach it the way any reporters would — with an open mind, a fresh notebook and an urgent deadline.”

Some at CBS News have been concerned about what they see as signs that the news division is moving in a direction more friendly to President Donald Trump. Paramount’s merger with Skydance was approved by the administration shortly after Paramount settled the president’s lawsuit against “60 Minutes.” Ellison has hired Kenneth Weinstein, former head of a conservative think tank and a Trump contributor, as an ombudsman to examine complaints about CBS News.

“60 Minutes,” which is two weeks into its new season, has been seeking an interview with Trump.

CBS isn’t the only news organization to face pressure from the president. He also settled a lawsuit against ABC News, has sued The New York Times and Wall Street Journal, and is fighting a battle with The Associated Press over access.

Broadcast news organizations are generally fading in influence with the growth of online alternatives, and have aging audiences. CBS is generally third in popularity behind ABC and NBC, but “60 Minutes” and “CBS News Sunday Morning” have devoted fan bases.

Rather, who stepped down as anchor and managing editor of the “CBS Evening News” in 2005, told The Associated Press that he did not know Weiss and hopes she gets to know the people at CBS News before making any big changes.

“No one has to send a memo to everyone down the line at CBS News about what is going on with journalism and this presidency,” Rather said. “It is obvious that there is tremendous pressure to bend the knee to the Trump administration. The fear is that this appointment is part of that overall play.”

Weiss has worked in opinion journalism and has little background in broadcast journalism. She has described herself politically as a centrist and wrote a column for the New York Post in 2021 headlined, “10 ways to fight back against woke culture.”

Writing for the liberal website the Unpopulist, Matt Johnson said that “one reason for The Free Press’ popularity is that it offers intellectual reassurances to legions of anti-anti-Trump readers — sophisticated conservatives who may be uneasy about Trumpism, yet want to believe that wokeness and other left-wing excesses are the primary threats to western civilization.”

Weiss told fellow CBS News employees that she stood for the same core journalistic values that have defined the profession from the beginning, including reporting on the world as it actually is and being fair, fearless and factual.

In separate staff memos, Ellison and Weiss outlined similar philosophies about a mainstream America being ill-served by a destructive form of partisanship.

“When we reduce every issue to ‘us vs. them’ or ‘my way vs. the wrong way,’ we close ourselves off from listening, learning and ultimately growing, both as individuals and as a society,” Ellison wrote. “I don’t pretend to have a solution to this challenge. But I do believe we each have a responsibility to do our part.”

Weiss will remain as the boss of The Free Press, which she indicated would continue on the same course but expand more quickly with Paramount’s money. Indeed, she said in a letter to subscribers that The Free Press will help reshape CBS News.

She said mainstream Americans — which she defined as being politically mixed and pragmatic — are being ill-served by an illiberalism from the fringes of society.

“On the one hand, an America-loathing far left,” she wrote. “On the other, a history-erasing far right. These extremes do not represent the majority of the country, but they have increasing power in our politics, our culture and our media ecosystem.”

In a Pew Research Center survey taken earlier this year, 56% of Americans who are Democrats or lean Democrats say they trust CBS News, while only 23% of Republicans say the same thing. Those levels are similar across all major broadcast media outlets, with Republicans primarily turning to Fox News Channel.

Adapted from reporting by the Associated Press

 

Bessent Names New CEO for Tax Collection Agency

(Brett Rowland, The Center Square) Treasury Secretary Scott Bessent, who is serving as acting commissioner of the Internal Revenue Service, created a new position to lead the day-to-day operations of the federal government’s tax collection agency. 

Bessent announced that Commissioner of the Social Security Administration Frank Bisignano will serve as Chief Executive Officer of the IRS. In the newly created position, Bisignano will report directly to Bessent. Bisignano will manage the organization and oversee day-to-day IRS operations while continuing to serve as Commissioner of the Social Security Administration.

“Frank is a businessman with an exceptional track record of driving growth and efficiency in the private and now public sector,” Bessent said in a statement.

IRS officials said the IRS and SSA share many of the same technological and customer service goals. 

“Under his leadership at the SSA, he has already made important and substantial progress, and we are pleased that he will bring this expertise to the IRS as we sharpen our focus on collections, privacy, and customer service in order to deliver better outcomes for hardworking Americans,” Bessent said.

The IRS has gone through seven leaders so far this year. Last month, U.S. Sen. John Cornyn, R-Texas, called for “stability” at the IRS.

Bisignano previously served as Chairman and CEO of Fiserv, the world’s largest financial services and payment technology company. He also held similar jobs running large organizations that managed sensitive data.

The IRS media office didn’t immediately answer questions about pay for the new IRS CEO position. Many federal media relations offices closed amid the ongoing partial federal government shutdown.

Last month, the Treasury Inspector General for Tax Administration wrote in a report that it was concerned about the IRS’s staffing levels.

“We expect workforce reductions to impact key processing programs and customer service going forward,” the September report noted. “We are concerned about how this will impact the 2026 Filing Season. Key IRS functions responsible for managing the filing season have lost 17% to 19% of their workforce.”

The report noted that the staffing issues come as the agency prepares to implement key tax provisions included in the Republicans’ One Big Beautiful Bill Act. The GOP measure expanded deductions for tipped workers, overtime pay, senior citizens and people with high state and local tax bills.

“Staffing losses in the IRS’s Information Technology function and recently enacted legislation create additional challenges for the IRS as it prepares for the 2026 Filing Season,” according to the report. “The One Big Beautiful Bill Act will require the IRS to make substantial changes ahead of the 2026 Filing Season, but the agency will have fewer Information Technology resources to timely update processing systems.”

Trans Bus Driver Charged for Molesting Children

(Ken Silva, Headline USA) The Charlotte-Mecklenburg Police Department has arrested a 48-year-old biological male bus driver, who identifies as a woman, for molesting children.

According to a press release from the CMPD, Leetwain Darrell Tate, who went by “Sharon” or “Ms. Sharon,” commited sex crimes against children as young as 14 years old. A signed affidavit states that police received a complaint from a victim’s mother on Sept. 16.

“It was reported that several boys [have] been staying with Leetwain and perform[ing] sexual acts on her at her residents,” states the police affidavit, identifying Tate as a woman.

“A fact-finding was conducted with several other victims, who disclosed to being sexually abused by Leetwain. The result of the phone extraction data led to corroborating evidence of the victim disclosures.”

Tate faces two counts of statutory rape, six counts of indecent liberties with a minor, and one count of statutory sex offense. He is being held on a $1 million bond.

Tate was previously a school bus driver at Sugar Creek Charter School, according ot the CMPD.

“Tate was suspended by the school during the investigation and officially terminated on Sept. 29,” the police said in a press release. “Preliminary information indicates that these incidents did not occur on school property or while Tate was operating a school bus.”

The police added that they believe there could be more victims. They urge potential victims to contact “Detective King” at 704-336-7495.

Ken Silva is the editor of Headline USA. Follow him at x.com/jd_cashless.

Netanyahu Says Israel Won’t Implement Trump’s Gaza Plan Until Hamas Releases ‘All the Hostages’

(Dave DeCamp, Antiwar.com) Israeli Prime Minister Benjamin Netanyahu reportedly said on Sunday that Israel will not implement any other point of the Gaza ceasefire plan released by President Trump until Hamas releases all remaining Israeli captives in Gaza.

“Until the first clause — the release of all the hostages, living and dead — until the last of the hostages, all of them, is transferred to Israeli territory, we will not move on to any other clause,” Netanyahu told members of the Gvura Forum, according to The Times of Israel.

The Israeli leader said that if Hamas didn’t release the hostages “by the end of the time set by President Trump,” Israel would go back on the offensive in Gaza “with the full backing of all the countries involved.” Israel has continued to bomb Gaza since Hamas’s response to Trump’s proposal and the US president’s call for Israel to halt its attacks.

It’s unclear what deadline Netanyahu was referring to that he said was set by Trump. Under the outline released by the White House, Hamas would have to release all remaining Israeli captives within “72 hours of Israel publicly accepting” the agreement, but the details of the potential deal still need to be worked out. The deal also calls for a complete ceasefire and halt to Israeli military operations to facilitate the captive release.

Netanyahu also said that Trump was “increasing” the pressure on Hamas. “Trump will not hesitate to wait longer than he has allotted. This time, he is determined,” he said.

The Israeli leader vowed there would be no Hamas or Palestinian Authority officials involved in a future Gaza government, even though the deal released by the White House envisions a “reformed” PA eventually taking control. “No representative of Hamas or any representative of the PA will be involved in controlling the Strip,” Netanyahu said.

Israeli and Hamas negotiators are set to hold indirect talks in Cairo starting on Monday aimed at reaching a final deal. Throughout Israel’s genocidal campaign in Gaza, Netanyahu has repeatedly worked to sabotage negotiations and thwarted at least seven potential deals, according to Israeli media.

In a post on Truth Social on Sunday, President Trump said that there had been “positive discussions” regarding the ceasefire talks and warned there would be “massive bloodshed” if a deal wasn’t reached.

“There have been very positive discussions with Hamas, and Countries from all over the World (Arab, Muslim, and everyone else) this weekend, to release the Hostages, end the War in Gaza but, more importantly, finally have long sought PEACE in the Middle East. These talks have been very successful, and proceeding rapidly,” the president wrote.

“The technical teams will again meet Monday, in Egypt, to work through and clarify the final details. I am told that the first phase should be completed this week, and I am asking everyone to MOVE FAST. I will continue to monitor this Centuries old ‘conflict.’ TIME IS OF THE ESSENCE OR, MASSIVE BLOODSHED WILL FOLLOW — SOMETHING THAT NOBODY WANTS TO SEE!,” Trump added.

This article originally appeared at Antiwar.com. 

 

Hodgetwins Sued for Confusing Conservative Pastor with Woke Cracker Barrel Executive

(Ken Silva, Headline USA) You might say that the Hodgetwins confused their crackers.

On Aug. 22, the Facebook page for the conservative influencers Keith and Kevin Hodge—collectively known as the Hodgetwins—posted about one of the former Cracker Barrel executives who made that company “woke.”

“Meet Steve Smotherman – a former Cracker Barrel management and training leader. After leaving the company in 2020, he joined the Human Rights Campaign’s (HRC) Business Advisory Council, one of the most powerful LGBT lobbying groups in America,” the Hodgetwins Facebook post said.

According to the post, Smotherman founded an LGBT employee group, pulled Duck Dynasty products, banned a pastor with traditional views, and pushed other woke policies—helping move Cracker Barrel’s HRC Corporate Equality Index score from ZERO in 2002 to 80 by 2021.

The problem was, the post included a picture of the wrong Smotherson. Instead of the woke former Cracker Barrel executive, the Hodgetwins pictured the conservative Pastor Steve Smothermon, who preaches at Legacy Church in Albuquerque, New Mexico.

The post has since been deleted, but Pastor Smothermon is now suing the Hodgetwins over the mistake.

In a lawsuit filed last Wednesday, Pastor Smothermon said the false Hodgetwins post has subjected him to “widespread backlash.”

“The false and malicious statements published by Keith and Kevin Hodge and Hodgetwins, LLC pose a direct threat to the reputation Pastor Smothermon has built over a lifetime of ministry and service,” states the lawsuit, which was first reported by CourtWatch.

Pastor Smothermon seeks damages in excess of $75,000.

The Hodgetwins have yet to respond to the lawsuit. They might not have to. A judge ordered Pastor Smothermon to explain by Oct. 24 why the lawsuit, which is filed in Nevada, shouldn’t be dismissed for lack of subject matter jurisdiction.

Ken Silva is the editor of Headline USA. Follow him at x.com/jd_cashless.

Larry Ellison Vetted Marco Rubio on Israel Loyalty, Leaked Emails Show

(José Niño, Headline USA) Before pouring millions into Marco Rubio’s presidential campaign, billionaire Larry Ellison coordinated with an Israeli diplomat to test whether the Florida senator would be a reliable advocate for Israel, leaked correspondence shows. 

According to a report by Drop Site News, In April 2015, Ellison exchanged emails with Ron Prosor, then serving as Israeli ambassador to the United Nations, discussing Rubio’s potential as a presidential candidate. “How was the conversation with Mario Rubio,” Prosor wrote to Ellison. “Did he pass your scrutiny? Did you have a chance to talk about Israel? Would love to chat.”

Hours later, Ellison responded enthusiastically. “Great meeting with Marco Rubio. I set him up to meet with Tony Blair. Marco will be a great friend for Israel.”

The correspondence, part of a hacked archive obtained by Distributed Denial of Secrets, a non-profit website dedicated to whistleblower disclosures and file distribution, reveals the Oracle founder’s methodical approach to political patronage. 

Within weeks of that exchange, Ellison hosted a fundraiser for Rubio at his California mansion. He eventually contributed $5 million to the Conservative Solutions super PAC supporting Rubio’s campaign.

Today, Rubio serves as Secretary of State, where he has launched an unprecedented crackdown on critics of Israel, detaining and attempting to deport individuals specifically for their criticism of Israeli policies. 

The Drop Site News report also noted that Ellison played a central role in steering TikTok toward Ellison’s control and helped roll out plans for Gaza’s future that place the enclave under administration by the Tony Blair Institute, which Ellison has funded with more than $350 million. 

As Wired recently observed, “The Ellison family is cornering the market on attention and data the same way the Vanderbilts did railroads and the Rockefellers did oil.” 

That consolidation is accelerating. Drop Site News highlighted that Ellison’s Oracle is set to take a lead role in reshaping TikTok in the United States, with the company auditing and retraining the platform’s content algorithm. His son David is moving to control CBS News, CNN, Warner Brothers, and Paramount, reportedly bringing in media personality Bari Weiss to shape editorial direction.

The implications extend beyond corporate consolidation. Ellison has articulated a vision of mass surveillance he sees as inevitable. On an investor call last year, he described a future where “citizens will be on their best behavior because we are constantly recording and reporting everything that’s going on.”

His relationship with the Tony Blair Institute has effectively merged the former British prime minister’s organization with Oracle’s operations. 

Former staffers describe joint retreats and deeply integrated operations. “It’s hard to get across just how deeply connected the two organizations are,” one former employee said. “The meetings were like they’re part of the same organization.”

Ellison has never hidden his support for Israel. In 2014, The Times of Israel reported that he told fellow billionaires at a fundraiser that “there is no greater honor” than supporting the Israeli military. Three years later, he donated $16.6 million to Friends of the IDF, the largest gift the organization had ever received. He maintains a close relationship with Israeli Prime Minister Benjamin Netanyahu, who has visited Ellison’s private Hawaiian island, according to a report by Bloomberg.

Oracle CEO Safra Catz, who was born in Israel, shares his commitment. Responsible Statecraft reported in a 2015 email to former Israeli Prime Minister Ehud Barak, she described plans to embed “love and respect for Israel in the American culture” through media projects aimed at countering the Boycott, Divestment, and Sanctions movement.

José Niño is the deputy editor of Headline USA. Follow him at x.com/JoseAlNino 

 

Who in Their Right Mind Would Hold Dollars?

(Mike Maharrey, Money Metals News Service) Nobody in their right mind would hold their reserves in dollars.

That’s the conclusion of Catalyst Funds CIO David Miller.

And he’s right.

Gold is up over 87 percent since January 2024 and is knocking on the door of $4,000 an ounce. But even with the rapid price surge, Miller said gold is not overpriced.

“It is just keeping up with how fast the money supply has grown.”

The appreciation of gold is the flip side of the dollar’s depreciation.

In other words, gold is tracking inflation.

After contracting during the hiking cycle, the money supply has been expanding for well over a year.

This is, by definition, inflation.

As of the end of August, the money supply had expanded by more than $1.5 trillion since its low point in mid-2023 and stood at nearly $22.2 trillion, above the peak reached during the pandemic.

Miller said this relentless monetary inflation is inevitable given the massive government debt.

And there is no sign the federal government is going to address its spending problem any time soon.

With one month left in fiscal 2025, the federal government had spent $6.73 trillion, a 5.9 percent increase over the same period in fiscal ’24. The Trump administration has already spent more this fiscal year than it did last.

Make no mistake, the 2026 spending bill will raise spending even higher. Oh, they may trim the speed of some of the spending increases. They’ll call that a “cut,” and partisans will cheer. But spending will increase on an absolute level.

It always does. As Miller pointed out, political incentives make this inevitable.

“If you owed $37 trillion, like the U.S. government does, and were running a $1.9 trillion annual deficit—spending that much more than you bring in through taxes—and also had a printing press, you’d likely use it. Politicians face major pushback for austerity or aggressive tax hikes, so the easiest path is to gradually debase the currency. It’s not just the U.S.—governments globally have learned this.”

Miller said that he wouldn’t be surprised if price inflation ran at 5 percent annually.

So, what can you do, because this isn’t something you can just vote away.

“One way to protect against this as a consumer or investor is to denominate your assets in hard currency—like gold—instead of the dollar, euro, or yen.”

There are other factors driving de-dollarization as well, including the weaponization of the dollar and aggressive trade policy.

The U.S. and other Western countries aggressively sanctioned Russia in the wake of its invasion of Ukraine. America and its allies locked Russia out of the SWIFT financial system and froze around $300 billion in Russian central bank assets.

The rest of the world was watching.

Consider this – if something makes you vulnerable, what do you do?

You take the necessary steps to eliminate that vulnerability.

So, if you’re worried that the U.S. and its allies might cut off your access to dollars, what would you do?

Minimize your dependence on dollars.

In other words, if you are concerned that the U.S. could pull the “dollar rug” out from under you, why not pull out from the dollar system first?

Miller said when you combine all these factors, it’s no wonder gold is surging through the roof.

“ When you combine that trifecta of tariffs, weaponization of SWIFT, and enormous quantitative easing, no one in their right mind should want to keep their reserve, the money they don’t intend to spend in dollars.”

While there is no question that de-dollarization is happening, Miller thinks it’s unlikely the U.S. currency will lose its standing as the global reserve overnight.

“This will be a multi-decade process, which will keep an elevated floor in gold for the foreseeable future.”

However, even a modest de-dollarization spells trouble.

Because the global financial system runs on dollars, the world needs a lot of them, and the United States depends on this global demand to underpin its bloated government. The only reason the U.S. can borrow, spend, and run massive budget deficits to the extent that it does is the dollar’s role as the world reserve currency. It creates a built-in global demand for dollars and dollar-denominated assets. This absorbs the Federal Reserve’s money creation and helps maintain dollar strength despite the Federal Reserve’s inflationary policies.

But what happens if that demand drops? What happens if the world decides it doesn’t need as many dollars?

A de-dollarization of the world economy would cause a dollar glut. The value of the U.S. currency would further depreciate. At the extreme, global de-dollarization could spark a currency crisis. You and I would feel the impact through more price inflation, eating away at the purchasing power of the dollar. In the worst-case scenario, it could lead to hyperinflation.

Again – the world doesn’t have to completely abandon the dollar to create negative impacts. Even a modest drop in the demand for the greenback will ripple through the U.S. economy.


Mike Maharrey is a journalist and market analyst for Money Metals 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.

Central Bank Gold Buying Rebounded in August

(Mike Maharrey, Money Metals News Service) After holding reserves steady in July, central banks returned to gold buying in August.

Based on initial data, central banks globally increased gold reserves by 10 tonnes in July, but the late report of a 10-tonne sale by Indonesia dropped net purchases to zero for that month.

However, central banks were back in a buying mood in August, reporting a 15-tonne increase to global gold reserves. This was largely in line with monthly net purchases between March and June.

The rapidly rising price of gold (up around 45 percent this year) seems to have slowed central bank gold accumulation. Central banks globally added 166 tonnes of gold to their reserves in Q2. That was a 33 percent quarter-on-quarter decline and the lowest quarterly demand since Q2 2022.

However, gold buying was still 41 percent above the quarterly average that was typical between 2010 and 2021.

The World Gold Council notes that while central banks tend to make reserve decisions strategically, they are not totally insensitive to prices.

“As such, gold’s rally so far this year, up 26 percent, to new record levels, has likely contributed to the slowdown in central bank buying. But that they continue to add gold in the face of a higher price underscores their continuing favorable attitudes towards gold as a strategic asset amid such uncertainty.”

Kazakhstan was the biggest gold buyer in August, adding 8 tonnes to its reserves. It was the sixth consecutive month of gold accumulation for the Kazakh central bank. It currently holds 316 tonnes of gold, a 32-tonne increase since the end of 2024.

The Central Bank of Turkey increased its holdings by 2 tonnes in August. The Turkish central bank has been a net purchaser for 27 consecutive months – since June 2023.

The Czech Central Bank has followed a similar strategy – growing its gold reserves at a slow, steady pace. It added another 2 tonnes in August, its 30th straight month of gold accumulation. The Czech Republic now holds 65 tonnes of gold. Czech officials say they plan to increase gold reserves to 100 tonnes by 2028.

Bulgaria joined the list of buyers in August, increasing its reserves by 2 tonnes. It was the largest monthly increase in Bulgarian gold holdings since 1997. The country currently holds 43 tonnes of gold.

According to the World Gold Council, the Bulgarian central bank may have to transfer some of its gold to the European Central Bank as part of the process of joining the Eurozone.

China has reported an increase in its official reserves for 10 straight months, adding 2 more tonnes in August. The People’s Bank of China has increased its official holding by 38 tonnes in that span.

Total official Chinese gold reserves are now over 2,300 tonnes, making up around 7 percent of its total reserves.

Notice the emphasis on “official.”

China is one of the central banks that likely holds significantly more gold than it publicly discloses. As Jan Nieuwenhuijs has reported, the People’s Bank of China is secretly buying large amounts of gold off the books. According to data parsed by the renowned Money Metals researcher, the Chinese central bank is currently sitting on more than 5,000 tonnes of monetary gold located in Beijing – more than TWICE what has been publicly admitted.

Poland and India stood pat in July. Even so, Poland remains the biggest gold buyer so far in 2025. The central bank recently announced plans to target its gold holdings at 30 percent of total reserves, up from the previous 20 percent target. It achieved that goal earlier this year.

Other banks reporting an increase in their gold holdings in August include:

  • Uzbekistan – 2 tonnes
  • Ghana – 2 tonnes
  • El Salvador – 0.5 tonnes

There were only two reported sales, with both Russia and Indonesia decreasing gold reserves by 3 and 2 tonnes, respectively. According to the World Gold Council, the decrease in Russian reserves was likely related to its coin-minting program.

Despite the slowdown in central bank buying this year, the World Gold Council remains bullish.

“We maintain our view that central banks will continue to add gold to their reserves. Our Central Bank Gold Reserves Survey 2025 shows that respondents overwhelmingly (95 percent) expect global central bank gold reserves to increase over the next 12 months, while 43 percent believe that their own gold reserves will also increase over the same period. Notably, none of the respondents anticipate a decline in their gold reserves.”

You can read more details about that central bank survey HERE.

On net, central banks officially increased their gold holdings by 1,044.6 tonnes in 2024. It was the 15th consecutive year of expanding gold reserves.

Last year was the third-largest expansion of central bank gold reserves on record, coming in just 6.2 tonnes lower than in 2023 and 91 tonnes lower than the all-time high set in 2022. (1,136 tonnes). 2022 was the highest level of net purchases on record, dating back to 1950, including since the suspension of dollar convertibility into gold in 1971.

To put that into context, central bank gold reserves increased by an average of just 473 tonnes annually between 2010 and 2021.

World Gold Council analysts expect the trend to continue, with buying “close to the range seen over the past three years on continued elevated trade-related risks and uncertainty premia in U.S. assets.

The WGC also noted that “diversification” with “a reduction of U.S. assets” is one of the factors driving central bank gold buying. In other words, de-dollarization.

“We don’t see an end to this narrative unless there is a material shift in geopolitical tensions. The IMF has downgraded growth prospects in the U.S. more than in other major economies, citing policy uncertainty. This suggests that other countries may have leverage in negotiations, although these typically last months and years, not weeks. Hence, we don’t expect any near-term resolutions.”


Mike Maharrey is a journalist and market analyst for Money Metals 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.

Trump Threatens To Bomb Iran Again If It Restarts Nuclear Program, Says He’s ‘Not Going To Wait So Long’

(Dave DeCamp, Antiwar.comPresident Trump on Sunday said that he would bomb Iran again if the country restarts its nuclear program, warning the US was “not going to wait so long this time,” a threat that comes amid growing signs that another US-Israeli war against Iran may be coming.

“The B2s, what they did. Those beautiful flying wings, what they did, they hit every single target. And just in case, we shot 30 Tomahawks out of a submarine,” Trump said in a speech at Naval Station Norfolk in Virginia, during a celebration of the US Navy’s 250th birthday, referring to the US bombing of Iran’s nuclear facilities on June 22.

Trump claimed in the speech that Iran was going to have a nuclear weapon “within a month,” but before Israel launched the war, US intelligence determined Tehran was not pursuing a nuclear weapon, and even if it chose to, it would take years to actually develop a deliverable weapon.

“They were going to have a nuclear weapon within a month,” Trump told a crowd of US Navy sailors. “And now they can start the operation all over again, but I hope they don’t because we’ll have to take care of that too if they do, I let them know that. You want to do that, it’s fine, but we’re going to take care of that and we’re not going to wait so long.”

Trump went on to say that he had B-2 pilots visit him in the Oval Office, who said the US had been working on plans to bomb Iran’s nuclear facilities for 22 years, but that no president before him wanted to do it. The president has previously acknowledged that he bombed Iran on behalf of Israel. “Look, nobody has done more for Israel than I have, including the recent attacks with Iran, wiping that thing out,” he said in an interview with the Daily Caller published on September 1.

Since the ceasefire that ended the 12-day US-Israeli war on Iran, Trump has threatened to bomb Iran again several times. At the same time, the Trump administration is demanding that Iran enter negotiations to give up its nuclear enrichment program and place limits on its ballistic missiles, demands that Iranian officials have made clear are a non-starter.

Iranian Supreme Leader Ayatollah Ali Khamenei recently reaffirmed his prohibition on the development of nuclear weapons but also vowed Tehran wouldn’t give up its civilian nuclear enrichment program, framing it as a matter of national pride. He also rejected the idea of imposing limits on Iran’s ballistic missile program.

This article originally appeared at Antiwar.com.