Trump Shooting Task Force Subpoenas Mystery ATF Agent Involved in Butler Response

Ken Silva
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Trump Shooting Task Force Subpoenas Mystery ATF Agent Involved in Butler Response

(Ken Silva, Headline USA) After months of stonewalling, the House Task Force investigating the Trump assassination attempts has issued subpoenas to the ATF agent who responded to the July 13 shooting in Butler, Pennsylvania. The Task Force also subpoenaed an ATF supervisory agent.

The subpoenas were issued Monday, after the ATF ignored two Task Force letters demanding documents about its involvement in the two assassination attempts—the latter being the one on Sept. 15 at Trump’s Florida golf course.

According to the Task Force, the ATF delivered a batch of documents an hour before the subpoenas were issued—the same day that Task Force members also visited the FBI’s headquarters to examine evidence about alleged Trump shooter Thomas Crooks.

With the Task Force’s Dec. 13 deadline looming for completing its investigation, Chairman Rep. Mike Kelly, R-Pa., demanded the ATF agents’ immediate testimony.

“Given your role in the investigation after the attempted assassination on July 13, the Task Force believes you have critical information pertinent to its inquiry. Accordingly, attached is a deposition subpoena,” the Task Force said in a letter to the two ATF agents.

The Task Force didn’t publish the subpoenas, and so the ATF agents’ identities are still not public.

The Task Force’s request may finally yield answers for why an unidentified, plain-clothes ATF agent was at the Butler rally in his “personal capacity”—as the ATF told the Senate Homeland Security Committee.

Recently released interview transcripts show that a Secret Service agent encountered that ATF agent before the shooting, but didn’t question his presence or his credentials.

According to the interview transcripts, the Secret Service site agent said the ATF agent approached her before the shooting with concerns about a bike rack that was used as a crowd barrier.

“He was concerned that people, it might fall over, that people might, you know, be able to, to get, you know, get over it.  And so then he kind of brought it to my attention. I was like, ‘Well, who are you?’ … He said, ‘ATF,’” the agent told lawmakers, according to her interview transcript.

“He just was acting like part of the plan … And then I just, I didn’t ask any further questions.  I mean, at that point I was just like, okay.  I don’t know,” she said.

“I still don’t know why ATF was there or who asked them to be there or what their role was,” she added.

According to the Senate’s report on the Trump shooting, the ATF said the agent was there in a “personal capacity.”

“ATF told the Committee that there was an ATF agent present in his personal capacity at the Butler rally on July 13 but that ATF as an agency had no official presence at the rally and did not provide any security assistance before shots were fired. The committee has yet to speak with the ATF agent who was at the rally,” the report said.

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

DNC Union Blasts Hypocritical Dem Leadership Over Mass Lay-Offs

Contributing Author
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DNC Union Blasts Hypocritical Dem Leadership Over Mass Lay-Offs

(Headline USA) The union that represents staffers at the Democratic National Committee blasted the organization for firing employees en masse after Vice President Kamala Harris’s loss.

The DNC Staff Union blasted the lay-offs as “shocking,” and blamed them on “callous and short-sighted mismanagement” by DNC leaders, according to Axios.

“These cuts go far beyond typical campaign turnover and impact employees who were previously told their positions would be retained after the election,” the union said in a statement.

DNC staffers who were laid off were given one day’s notice and no severance package, the union claimed, leaving them “scrambling to cover rent, medical expenses, and childcare costs.”

Moreover, the union accused the DNC of refusing to disclose “the full extent of the layoffs and whether or not additional cuts are planned.”

Citing Democrats’ sweeping losses in this month’s election, the union said Democratic leadership “must start by living our party’s values” if it wants to regain the trust of voters.

“The DNC staff is proud of the values that our party stands for,” the union said. “We want to make it clear, however, that the principles we champion on the national stage have been disregarded in our own workplace.”

One DNC employee told Axios that it isn’t a surprise the Democratic Party has lost support from union households given how party leadership treated its own unionized employees.

“If they want to be the party of the working people, they should have more respect for their workers,” the employee said. “There’s an inauthenticity to how they talk about workers, and clearly, voters feel the same thing.”

Even DNC employees who were able to keep their jobs said they have “lost faith” in the organization’s leadership.

“This scale of the layoffs is shocking people who have been here for a decade,” another employee said. “People are blindsided by this … I’ve completely lost faith in the Democratic Party, and I’m still working for them.”

Ex-CDC Director Says COVID-19 Likely Engineered in North Carolina—Not China

Ken Silva
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Ex-CDC Director Says COVID-19 Likely Engineered in North Carolina—Not China

(Ken Silva, Headline USA) From the start of the COVID-19 pandemic, Former Centers for Disease Control and Prevention Director Dr. Robert Redfield has been one of the leading voices arguing that the disease didn’t originate naturally, but was engineered in a lab.

But unlike most lab-leak theorists, Refdield doesn’t think COVID was made at the in China. Instead, he recently said he believes it’s more likely that COVID-19 was engineered at the University of North Carolina—the research home for Dr. Ralph Baric, who has been described in legal disputes as a “close collaborator with the Wuhan Institute of Virology.”

“When you look at the accountability for China, their accountability is not in the lab work and the creation of the virus,” Redfield said last week on the Third Opinion podcast—as first reported by the Carolina Journal.

“Their accountability is not following the international health regulations after they realized that they had a problem and allowing people like me, at the CDC to come in and to help them within 48 hours like they were obligated to based on the treaty. [The U.S.] funded the research, both from NIH, the State Department, USAID, and the Defense Department. All four of those agencies helped fund this research.”

According to Redfield, UNC’s Dr. Baric was the “scientific mastermind behind the research.”

“I think he probably helped create some of the original viral lines, but I can’t prove that, but he was very involved,” Redfield said, according to the Journal. “I think there is a real possibility that the virus’s birthplace was Chapel Hill.”

Redfield’s statement comes as Sen. Rand Paul, R-Ky., is set to sprearhead a comprehensive investigation into the origins of COVID as the next chairman of the Senate Homeland Security Committee.

“NIH and HHS have refused to turn over the documents as to why Wuhan got this research money and why it wasn’t screened as dangerous research,” Paul reportedly said on Fox News earlier this month.

“I’m looking forward to getting those [documents], mainly because we need to try to make sure this doesn’t happen again.”

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

Scarborough Hits Back at ‘Massive Disconnect’ after ‘Morning Joe’ Hosts Meet with Trump

Julianna Frieman
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Scarborough Hits Back at ‘Massive Disconnect’ after ‘Morning Joe’ Hosts Meet with Trump

(Julianna Frieman, Headline USA) MSNBC’s Joe Scarborough hit back Tuesday at the “massive disconnect” of reactions to Morning Joe restarting communications with Republican President-elect Donald Trump.

Scarborough and his co-host wife, Mika Brzezinski, traveled to Mar-a-Lago on Friday for a “personal” sit-down meeting with Trump, which sparked sour reactions among media figures on both sides of the political aisle.

On Tuesday’s show, the Morning Joe crew addressed the media meltdown triggered by their announcement on Monday.

“Yesterday I saw for the first time what a massive disconnect there was between social media and the real world,” Scarborough commented.

Scarborough said he and Brzezinski were “flooded” with phone calls all day from people across the world who were supportive of their decision to talk to Trump.

However, he told viewers the occasional “I hope you’re doing OK” text would find its way into his notifications.

Scarborough blamed negative reactions to his post-election Trump meeting on X.

“We’ve had a good day. Mika just had a wonderful event, and it’s fantastic,” he said. “All of us are going to do the best we can do, and we’re all working towards a better America.”

Brzezinski chimed in by saying they must “take it day by day.”

Leftist The View co-host Sunny Hostin fumed over Morning Joe’s first meeting with Trump in seven years, criticizing Scarborough and Brzezinski for being “opinion journalists.”

“The bottom line is that America needs a free press that is willing to speak truth to power right now,” Hostin said. “More than ever. And I think that we have to be very clear-eyed when we think about the president-elect and cover the president-elect.”

Hostin continued to bash the meeting between Trump and the MSNBC hosts.

“And I don’t think you need to sit down for 90 minutes at Mar-a-Lago and kiss his ring to be able to speak truth and to be able to cover a story,” she added.

On the conservative side of commentary, SiriusXM’s Megyn Kelly bashed the Trump-hating Morning Joe co-hosts as “dishonest jokes,” suggesting they see the writing on the wall and met with the president-elect to save their MSNBC jobs.

Kelly had three words for for Scarborough and Brzezinski: “Go f**k yourselves.”

“Literally no one wants to see this fence mended,” she added.

Trump told Fox News his sit-down with the Morning Joe co-hosts was “extremely cordial” and “ended in a very positive manner.”

The president-elect revealed that he, Brzezinski and Scarborough would be on speaking terms in the future.

On Monday’s broadcast of Morning Joe, Scarborough said discussion topics of the meeting consisted of abortion, mass deportation and the idea of “political retribution.”

“Joe and I realize it’s time to do something different, and that starts with not only talking about Donald Trump, but also talking with him,” Brzezinski said.

Julianna Frieman is a freelance writer published by the Daily Caller, Headline USA, The Federalist, and The American Spectator. Follow her on Twitter at @JuliannaFrieman.

SELLERS: 20 Offices Trump Has Yet to Fill (and the Fox News Personalities He Might Pick)

Ben Sellers
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SELLERS: 20 Offices Trump Has Yet to Fill (and the Fox News Personalities He Might Pick)

(Ben Sellers, Headline USA) President-elect Donald Trump continued to dazzle his supporters and derange his detractors with his latest round of staff picks, including Brendan Carr to lead the Federal Communications Commission and Sean Duffy for the Department of Transportation.

The selections so far have made a few things clear: Trump’s top priorities are, indeed, loyalty (as many in the mainstream media have derisively observed) and an ability to stir the pot.

Less important is direct field experience, with Trump’s philosophy being that common sense goes hand-in-hand with competence, while an overly specialized area of expertise fosters a more close-minded approach to problem-solving.

The list below includes some selections that may seem sensible and inspired, mixed with others that may seem outlandish—and even comical. Much like the selection criteria Trump has applied, it also gives particular favor to Fox News personalities and other big-name, out-side-the-box choices that would, inevitably, make a splash.

In all likelihood, by time the list hits computer screens, some of these positions will have been filled. Thus, we offer an obligatory disclaimer that the predictions should be taken with a grain of salt, along with the understanding that a Trump presidency is, if nothing else, utterly unpredictable.

The main job of this department head, ostensibly, is to go out with a giant “USDA” cattle brand and mark the livestock that are approved for consumption. As a well-known animal husbandrist, Greg Gutfeld’s right-hand man is the perfect person to stamp the nation’s steaks with a flaming hot iron—and the Mandeville, La., transplant has even been known to wear a cowboy hat on occasion. Runner up: Hulk Hogan

The president-elect has said in speeches that his middle child paid his dues during the gap term by becoming the “most subpoenaed person in the country”—a claim that Eric himself repeated on Fox News. With Ivanka and Jared having decided to sit out this presidency, and Barron now coming into adulthood, Eric is no longer the only Trump progeny eligible to keep the family business going. He and his wife, RNC Co-Chair Lara Trump, have thus stepped into the spotlight this time around. However, his background from having run the Trump Organization during his dad’s last leave of absence makes him eminently qualified to oversee the nation’s business affairs. Runner up: PayPal co-founder Peter Thiel

Trump has already said this department is getting cut, so why bother even nominating someone as secretary? Still, if he were to nominate someone, Kilmeade would be the perfect choice. He is the author of eight books, including six that examine significant moments in U.S. history—something that will take pride of place in Trump’s education agenda. But for Fox News’s most underappreciated journeyman host, the prospect of joining his former Fox and Friends colleagues in the West Wing only to have it yanked unceremoniously away would be entirely on brand, providing endless fodder for his network nemesis, Greg Gutfeld. Runners up: Tina Descovich and Tiffany Justice of Moms for Liberty

The clear frontrunner for this spot previously held by Dr. Ben Carson might have been Rep. Byron Donalds, a rising GOP star who grew up in Brooklyn. But the House cannot afford to lose any more GOP lawmakers if it hopes to retain its majority in the next session. Jones’s upbringing, in Garland, Texas, seems the most remote thing imaginable from the inner city where HUD tends to focus. Yet, he has proven himself to be a powerful ambassador to the common people, sharing stories of America’s forgotten class during his short-lived Cross Country show and subsequent man-on-the-street interviews. Runner up: North Carolina Lt. Gov. Mark Robinson

Trump’s campaign was all about appealing to blue-collar laborers, from working the McDonald’s window to riding in a garbage truck. He even actively courted labor unions by inviting Teamsters boss Sean O’Brien to speak at the Republican Nationan Convention.  Although bringing Big Labor into his inner circle might be too big a reach, Rowe knows a thing or two about blue-collar labor from his time hosting Dirty Jobs on the Discovery Channel. The popular podcaster also has been an outspoken activist in support of the working class. Runner up: Joe Rogan

The Yellen years of unfettered spending and money-minting are gone. To tackle inflation, who better than the personal-budget guru known for guiding people to make difficult choices? Ramsey’s work would mesh nicely with that of Elon Musk and Vivek Ramaswamy, who are overseeing the new Department of Government Efficiency. Runner up: Harvard economist Roland Fryer

  • Chair of the Council of Economic Advisers — Charles Payne

A star of Fox Business and the occasional infomercial, Payne literally wrote the book on Unstoppable Prosperity. Runner up: ZeroHedge founder Daniel Ivandjiiski

During the Libertarian Party’s national convention, Trump pledged to appoint a Libertarian to his administration, then proceeded to read excerpts from Murdock’s article “The Libertarian Case for Donald Trump.” Although Murdock—a Fox News contributor whose syndicated column runs weekly in Headline USA—debatably is not a capital-L “Libertarian” at all, nobody will be the wiser in this role as chief pencil-pusher. His columns often feature in-depth research and statistical analysis, which would be well suited to overseeing the federal budget. Runner up: Maria Bartiromo

  • Director of the Office of Science and Technology Policy — Grok

With the world’s leading technological innovator busy eliminating government waste, the next-best thing may be the artificial-intelligence system that Elon Musk has been painstakingly training to counterbalance the one he acrimoniously abandoned after ChatGPT-maker OpenAI opted to go commercial. While putting AI in charge of tech policy carries certain risks, beyond the obvious conflict of interests, it is no less bold a move than putting Matt Gaetz in charge of the Justice Department. Runner up: Marjorie Taylor Greene

The MyPillow man built his business from the ground up and remained one of Trump’s most loyal allies throughout his 2020 election ordeal. Runner up: Kanye West

Although he may not have a Fox News connection, the man did prison time for Trump and deserves his due. Navarro is also the person best equipped to implement Trump’s ambitious tariff policy, having previously advised him in a similar role as director of the Office of Trade and Manufacturing Policy. Runner up: Anti-Chinese dissident Miles Guo

Granted, favored pick Kash Patel would do an amazing job also, he may not have the same legal heft as the judge—something that will be desperately needed for the mass retribution campaign following four years under the brutal boot of Biden’s two-tiered justice. Of course, Patel would also be an excellent choice to lead the more secretive NSA, assuming Trump doesn’t want to blow everyone’s mind by repatriating former Obama whistleblower Edward Snowden for the task. Runner up: Proud Boys leader Enrique Tarrio

Lake has been one of the foremost victims of the Left’s war on election integrity. Although she would also have made a fantastic press secretary, Trump’s decision to hand the job to his campaign spokesperson, Karoline Leavitt, was equally solid. Still, after having twice been denied office under the shadiest of circumstances, Lake deserves some concession for having remained steadfast to Trump. And nobody deserves more than she does to be put in charge or reforming the broken election system. Runner up: Steve Bannon

Like the Education Department, this is an institution that is long overdue for dissolution. The Fed’s main purpose is to allow Congress to sidestep its duty to regulate the currency, which the semi-private bank does at a hefty rate of interest for itself. Like Trump’s other Kennedy nominee—Health and Human Services Secretary-in-Waiting RFK Jr.—this “Kennedy” will effect transformational change from Day 1. Runner up: Ron Paul

No, not the Enlightenment-era Adam Smith who penned the Wealth of Nations, nor the Democrat congressman on the House Armed Services Committee. This Adam Smith, a retired Green Beret, became the public face of FEMA indignation following the Biden administration’s failed response to Hurricane Helene. He and his “Redneck Air Force” took matters into their own hands, overseeing rescue and relief operations for those stranded in the flood-washed mountains of western Carolina. He even met personally with Trump during a press conference in Swannanoa. Ideally, Smith would co-chair the reformed FEMA with Franklin Graham, the Samaritan’s Purse founder, whose charitable work also had a major impact during the crisis. But Graham, the son of legendary preacher Billy Graham, may value his missionary work too much to enter into the civil service.  Runner up: controversial “garbage” comedian Tony Hinchcliffe

The former Fox News host previously served in the Secret Service and was one of the earliest media analysts to question whether the agency had somehow failed on a fundamental level in allowing the near-miss July 13 assassination attempt on Trump during a Butler, Pa., rally. Bongino has the grit needed to restore accountability to the agency, which has been particularly afflicted by DEI initiatives. Runner up: Kid Rock

  • Chairman of the Joint Chiefs of Staff  — Trey Yingst

Fox News has several retired generals who would do this job well, but in the spirit of appointing outsider Pete Hegseth to the Pentagon, it fits to have the network’s top conflict-zone reporter calling the military shots. Considering Trump’s “peace through strength” foreign policy, overseeing the military might be a welcome, stress-free respite for the Black Sunday author, who has been forced to pull double duty reporting from both Ukraine and the Middle East during the Biden administration. Runner up: Mike Flynn

No “brain trust” would be complete without the world’s leading neurosurgeon. The fact that Carson’s scientific acumen may have been underutilized in his HUD role during Trump’s first term is a shame, and while Health and Human Services may be the most logical place for him, Trump’s decision to put Robert F. Kennedy Jr. in the top spot leaves limited options. Carson’s strong pro-life stance should balance RFK Jr.’s support for abortion— although with the issue now being handled at the state level, there should be no need for either one to wade into that political briar patch. Runner up: Haliey “Hawk Tuah” Welch

As Fox’s leading weatherperson, Dean possesses a scientific mind. She also has an ax to grind after then-New York Gov. Andrew Cuomo killed her in-laws by forcing them to cohabitate in a COVID-friendly nursing facility. Dean as director of the agency that funded the illicit Wuhan research in the first place only makes sense. She will see to it that those funds never again get misappropriated. Runner up: Rand Paul

Where one Duffy goes, the other is not far behind. With her hubby leading the Transportation Department, Campos–Duffy is bound to have a major support role. The former MTV star undoubtedly logged many sky-miles traveling to promote The Real World, as well as commuting between her Wisconsin home and the set of Fox and Friends in New York. Runner up: Will Cain

Ben Sellers is the editor of Headline USA. Follow him at x.com/realbensellers.

Hunter Biden Goes to Disney after Trump’s Historic Election Win

Julianna Frieman
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Hunter Biden Goes to Disney after Trump’s Historic Election Win

(Julianna Frieman, Headline USA) Hunter Biden went to Disneyland after President-elect Donald Trump won a historic election against Vice President Kamala Harris.

In his first public appearance since Election Day, the scandal-ridden first son was seen wandering the theme park in Anaheim, California with wife Melissa Cohen Biden and their son, Beau Biden Jr., the New York Post reported.

Hunter Biden was all smiles as he rode Dumbo the Flying Elephant, photographs show.

The 54-year-old also reportedly took rides with his family on Peter Pan’s Flight and Mickey and Minnie’s Runaway Railway, according to the outlet.

The elephant is a recognizable symbol of the Republican Party. The timing of Hunter Biden’s flying elephant joyride was enough to raise eyebrows.

First Lady Jill Biden stoked similar suspicions on social media when a photo of her wearing a bright red pantsuit while casting her vote surfaced.

Many have speculated that President Joe Biden and his family were angry at top Democrats who fueled the pressure campaign that pushed the Democrat president from atop the party’s 2024 ticket—and this conversation picked up steam when a joyful Biden hosted Trump at the White House on Nov. 13.

At least five U.S. Secret Service agents joined Hunter Biden and his family for their Disneyland outing, the Post noted.

Friends of the couple also joined the fun as the first son’s wife sported a Minnie Mouse ear headband to match her son’s Mickey Mouse Christmas outfit.

At one point during their trip to the “Happiest Place on Earth,” Hunter Biden and his son were pictured munching on funnel cake, the outlet reported.

In other photographs, the first son appeared to be dazed while walking with family through the theme park.

Julianna Frieman is a freelance writer published by the Daily Caller, Headline USA, The Federalist, and The American Spectator. Follow her on Twitter at @JuliannaFrieman.

Electronic Device Linked to Trump Shooter is Still Active, New Book Says

Ken Silva
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Electronic Device Linked to Trump Shooter is Still Active, New Book Says

(Ken Silva, Headline USA) Conservative personality Jack Posobiec and his co-author, Joshua Lisec, have released a book that chronicles the July 13 Trump shooting in Butler, Pennsylvania—revealing new info along the way.

The book, Bulletproof: The Truth about the Assassination Attempts on Donald Trump, includes a private investigative report on alleged Trump shooter Thomas Crooks.

Along with other research, Posobiec and Lisec’s private detective—who isn’t named in the report—analyzed the electronic devices that have been to Crooks’s home and workplace. Much like the Heritage Foundation’s Oversight Project, the private eye apparently has access to data brokers who collect geolocation data.

According to that private eye’s report, an electronic device linked to Crooks may still be active.

“A device appeared at the home of Thomas Matthew Crooks during [the] time when he returned to his residence after his initial appearance at the Butler rally site on July 13, 2024,” the report said.

“According to the timeline established by police, Crooks returned to his residence at or about 2 p.m. on July 13, 2024. The individual/device appeared at his residence at the time and during his presence there, before Crooks returned to the rally site to allegedly shoot President Donald J. Trump.”

The report went on to say that it’s evidence is “firm and unequivocal.”

According to the report, the device linked to Crooks was activated last December, and it has the characteristics of a “burner”—a term that refers to temporary phones used by criminals to avoid law enforcement detection.

“Perhaps most disturbing is that this device appears to remain active in and around Bethel Park,” the report added. Bethel Park is where Crooks lived.

The report concluded that Crooks “had a network of support that will be identified when our investigation is complete.” Specifically, the private eye signaled that he plans on analyzing whether the geolocation data reveals that Crooks had help building the ANFO bombs allegedly found in the shooter’s vehicle and home.

But for now, the unnamed private detective said he doesn’t want to reveal possible associates of Crooks, because doing so may compromise his ongoing investigation.

The report is dated Sept. 7, and Bulletproof was published on Oct. 22.

In July, the Heritage Foundation’s Oversight Project released similar geolocation analysis, revealing that a frequent visitor to the Crooks household also travelled to a building in Washington DC—in the same vicinity as an FBI office there.

According to the Oversight Project, another device linked to Crooks visited Plymouth Harbor, Massachusetts in March. The non-profit government watchdog also tracked Crooks-linked devices movement around Pennsylvania in the days leading up to his July 13 assassination attempt, which left one firefighter dead and at least two others hospitalized.

“There were at least 9 devices linked to these AD-IDs We are willing to cooperate with legitimate investigations and share further information,” the Oversight Project said in July.

“For the protection of whistleblowers and our investigation, we will not be sharing further information with the congressional task force due to the connective tissue between that entity and FBI, USSS, and other entities.”

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

Silver Is a Strategic Asset for Diversification and Hedging Risk

Money Metals News Service
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Silver Is a Strategic Asset for Diversification and Hedging Risk

(Mike Maharrey, Money Metals News Service) “Silver is a reliable hedge against inflation, currency devaluation, and systemic financial instability.”

This is the conclusion of a new report by Toronto-based Capitalight Research Inc. commissioned by the Silver Institute.

“Institutional investors seeking to strengthen their portfolios through diversification should consider the compelling benefits of investing in silver.”

According to the report, silver “offers a unique blend of stability and growth potential as a tangible asset with significant safe-haven appeal and growing use in industrial applications.”

Silver has a low correlation with equities and bonds, making it an excellent portfolio diversifier.

The report focuses on increased fragility in the geopolitical environment and deteriorating government fiscal positions.

For instance, the United States ran the third-largest budget deficit in history in fiscal 2024, and there is no sign that the borrowing and spending are going to slow down. And the U.S. isn’t alone. The world is buried in government debt. According to the report, this enhances silver’s allure “as an investment to hedge against inflation and currency devaluation.”

The report also delves into the bullish supply and demand dynamics for silver, noting its “critical role in advancing green technologies such as solar energy, electric vehicles, and electronics.”

Industrial demand for silver is on track for a new record high in 2024, and the silver market is on pace for its fourth consecutive annual supply deficit.

Industrial demand is expected to rise by 7 percent this year and surpass 700 million ounces for the first time. Industrial demand for silver set a record of 654.4 million ounces in 2023. As was the case last year, silver offtake for green energy applications is driving the increase in industrial demand.

The solar energy sector is using increasingly large amounts of silver. Silver is the best conductor of electricity of all metals at room temperature, making it a vital input in the production of solar panels.

“The global transition toward renewable energy and electrification is driving a sustained increase in industrial consumption of silver. In contrast, supply constraints contribute to a persistent supply-demand imbalance (projected market deficit of 182 million ounces for 2024). This combination of rising demand and constrained supply could amplify price volatility and lead to significant upward pressure on silver prices.”

The report concludes that “silver stands out as a highly strategic asset for institutional investors due to its dual role as an industrial metal and safe haven asset during market instability.”

“Historically, silver has proven its value during economic and geopolitical crises, serving as a reliable hedge against inflation, currency devaluation, and systemic financial instability. Silver’s role has become even more pronounced in the modern global landscape and warrants a position in investment portfolios.”

You can download the complete report HERE.

Continue

UAE Poised to Help Usher in ‘Asian Century’ for Gold

Money Metals News Service
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UAE Poised to Help Usher in ‘Asian Century’ for Gold

(Mike Maharrey, Money Metals News Service) The United Arab Emirates is poised to usher in an “Asian Century” for gold to challenge dollar dominance, according to a report published by the Dubai Multi Commodities Centre (DMCC).

The UAE leapfrogged the United Kingdom to become the world’s second-largest gold trade hub in 2023. Dubai charted $129 billion in total gold trade last year, a 36 percent increase.

This is another sign that gold is slowly shifting from the West to the East.

According to the DMCC report, the UAE is positioned to facilitate the development of a new gold economic corridor among BRICS nations.

The UAE joined the BRICS block in January.

BRICS is an economic cooperation bloc originally made up of Brazil, Russia, India, China, and South Africa. Along with the UAE, Egypt, Iran, and Ethiopia joined at the beginning of the year. Saudi Arabia has also been invited to join, but it remains unclear if it has formally accepted.

Turkey, Azerbaijan, and Malaysia have formally applied to become members. Some 40 countries are reportedly interested in joining the block.

DMCC CEO Ahmed Bin Sulayem noted the shift of gold from West to East, specifically calling out the United States for weaponizing the dollar.

“In recent years, we have witnessed historic shifts in the precious metals market, driven by Western sanctions that have forced record buying of gold by central banks and a rethink by many countries when it comes to their reliance on the U.S. dollar.”

He went on to say aggressive sanctions on Russia “have shaken” the global financial community, “prompting countries worldwide to reconsider their reliance on the U.S. dollar and the safety of their gold holdings.”

“As a result, central banks have ramped up their gold purchasing activities and repatriated U.S.-stored bullion to diversify away from the dollar, with some even using gold in place of the U.S. dollar in trade transactions. This shift is driving gold prices to unprecedented levels, creating a ripple effect across the global economy.”

As of the end of the third quarter, central banks have added a net 694 tons to their gold reserves. The pace is below the record set through the first three quarters of 2023 but is on pace with 2022 levels.

Total central bank gold buying in 2022 came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension of dollar convertibility into gold in 1971.

Sulayem said this trend is driving the creation of “a new gold corridor” across Asia, with Dubai as its center.

The report cites the UAE’s “strategic location, robust regulatory framework, and advanced infrastructure” as reasons the country can serve as a “bridge East and West and reshape the gold trade.”

The DMCC report called for increased transparency and regulation in the gold market and urged global players to make gold more accessible for young investors and those wishing to use it as a transactional currency. It specifically noted the need for “global standards for digital gold products and blockchain systems to improve transparency, eliminate pricing inconsistencies, and reduce reliance on derivative products.”

“Investment companies and fintechs should develop digital products that enable small-scale and young investors in emerging markets to access gold trading, expanding market participation.”

Gold’s Slow Steady Shift East

The dollar isn’t in imminent danger of toppling off its throne as the world reserve currency, but its dominance is clearly waning.

While the recent BRICS summit in Kazan, Russia, didn’t produce a clear plan for an alternative currency, the bloc is undeniably pushing to lessen the dollar’s role in the global economy.

Russia was pushing hard for BRICS to consider an alternative payment system to replace the dollar-denominated SWIFT system. But after the summit, Russian President Vladimir Putin conceded that there was no immediate plan, saying the economic bloc “have not and are not” creating such a system.

Nevertheless, plenty of rhetoric came out of the meeting indicating that the U.S. shouldn’t think de-dollarization is off the table. In fact, the Atlantic Council identifies the rise of BRICS as a threat to long-term dollar dominance.

“The project identifies the BRICS as a potential challenge to the dollar’s status due to the individual members’ signal of intent to trade more in national currencies and the BRICS’ growing share of global GDP.”

Any drop in the dollar’s stature would be problematic for the United States.

The U.S. depends on this global demand to underpin its bloated government. The only reason it 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 BRICS nations and other countries don’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.

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Gold & Silver Are Rebounding

Money Metals News Service
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Gold & Silver Are Rebounding

(Brien Lundin, Money Metals News Service) Gold bugs were rattled by the drop of more than $200 over the past two weeks, but this week’s big rally has clawed much of that back in one fell swoop.

The question remains whether the bull market is back in force over the short term or whether this is merely a technical bounce.

The big decline in gold and silver over the past couple of weeks was fostered by the belief that the incoming Trump administration was going to halt the upward trajectory of federal spending and choose Bitcoin over the metal as the next key component of sovereign reserves.

Or…traders sensed that the market might be gullible enough to believe all of that and started driving the paper gold price lower in search of one sell stop after another.

It will come as no surprise to you that I have subscribed to the latter view in terms of what was driving the big sell-off — and that’s why I predicted a rebound was imminent.

That rebound may be in progress right now, with today’s big surge in gold serving as the proximal evidence.

As you can see, the correction was severe, taking gold about 10% lower. But today’s rebound — with gold up about $46 as I write — has regained nearly 2% of that loss. And the price still stands about 32% higher than a year ago.

Again, I expected the metals to rebound soon, not only because of the long-term factors of unmanageable and growing debt that no presidential administration could derail but also for the simple reason that gold has quickly rebounded from every setback in this new bull market.

However, the Bollinger band indicator that had so faithfully predicted each ebb and flow in the gold-price trend for months failed us in this case.

Bollinger bands are a measure of volatility, and over the course of this year’s bull market, all the volatility has been to the upside. Thus, the bandwidth had expanded on every rally and contracted during the mild corrections as the gold price traded sideways.

Now, however, the volatility increased as gold was driven down steeply over the past two weeks, and thus, the bandwidth expanded (as seen in the bottom panel in the following chart) to a peak that had previously indicated the top of a rally. Instead, this time, the peak in the bandwidth came at a much lower price.

To determine where we might be in that price decline and if, perhaps, today’s rally shows we’ve bottomed, we need to look at a momentum indicator, as in the following one-year chart showing gold’s relative strength index (RSI).

As you can see, the RSI is in oversold territory. Note also that the indicator seems to have plateaued in this chart, which is based on data as of last Friday’s close. With today’s move, it will have begun to climb once again.

My feeling has been that while our Bollinger band indicator had at least temporarily abandoned us, it had pointed to a fairly regular cycle of ebbs and flows. If the timing of those cycles is to remain relatively consistent, then, as I predicted last week, we are due for an imminent rebound.

And yes, this looks like it could be upon us with today’s big move higher for gold, a move that is being confirmed by silver (up 3.3%) and mining stocks (with the GDXJ up over 5.8%).

As I’ve said, it all adds up to a generational opportunity in metals and miners.

To get Brien Lundin’s ongoing commentary on the markets at no charge, click here to subscribe to his free Golden Opportunities newsletter.

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