Has silver’s moment finally arrived?
Precious metals analyst Ted Butler believes the answer is ‘yes.’
‘I think this is the moment, because we broke through technically what was a really important level — that US$35, US$36 (per ounce) level,’ he said. He sees a clear path for silver to outperform gold.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Mani Alkhafaji, vice president of corporate of development and investor relations at First Majestic Silver (TSX:AG,NYSE:AG) discusses silver’s recent price rise.
He notes that the gold-silver mining ratio is at seven to one, while the price ratio is at 90 to one.
‘That tells us silver needs to play catch up to collapse that ratio,’ he said.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Here’s a quick recap of the crypto landscape for Monday (July 14) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin (BTC) is priced at US$122,603 up by 2.8 percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$118,438 and a high of US$122,838.
Bitcoin price performance, July 14, 2025.
Chart via TradingView
Ethereum (ETH) is priced at US$3,038.26, up by 2.3 percent over the past 24 hours. Its lowest valuation on Monday was US$2,955.37 and its highest was US$3,074.13.
Bitcoin surged to a new all-time high of US$123,153.22 on Monday (July 14), driven by investor optimism ahead of major US congressional debates on crypto regulation.
The House of Representatives is set to consider three pivotal bills this week: the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act.
These proposals aim to create a federal framework for stablecoins, clarify regulatory jurisdiction between the SEC and CFTC, and ban the Federal Reserve from issuing a central bank digital currency.
The rally was bolstered by President Donald Trump’s continued support for the crypto sector, as he declared himself the “crypto president” during his campaign and urged a friendlier regulatory approach.
Market analysts pointed to strong institutional inflows and broader participation from family offices in Asia. Ethereum followed suit, climbing past US$3,000, while Solana and XRP each rose by approximately 3 percent.
The global crypto market cap now stands at US$3.81 trillion. Analysts say this could mark a structural shift, with bitcoin increasingly viewed as a reserve asset by both institutions and some central banks.
As “Crypto Week” begins in the U.S. capital, lawmakers are fast-tracking efforts to regulate the digital asset industry with three bills under House consideration.
The GENIUS Act, passed by the Senate last month, seeks to regulate stablecoins by limiting issuance to licensed entities and requiring full dollar-backed reserves. It is scheduled for a House floor vote on Tuesday and may reach President Trump’s desk within days. T
he more complex CLARITY Act proposes splitting oversight duties between the SEC and CFTC depending on asset classification—commodities versus securities.
The third measure, the Anti-CBDC Surveillance State Act, aims to prohibit the Fed from developing a digital dollar.
Stocks tied to crypto companies are soaring in tandem: Coinbase and Robinhood hit new highs, while Circle stock has risen over 500 percent since its IPO.
Bhutan has sold over US$59 million worth of bitcoin in recent days, taking advantage of the cryptocurrency’s historic run past US$123,000.
According to blockchain analytics platform Lookonchain, the country offloaded 512.84 BTC in the past four days. Even after the sale, Bhutan still holds over 11,400 BTC, now valued at more than US$1.4 billion.
The sales are coordinated by Druk Holding & Investments, the country’s sovereign wealth fund, which operates a clean-energy mining program powered by hydropower.
Unlike Germany, which liquidated seized crypto, Bhutan actively mines and times its sales to coincide with price peaks. Officials have emphasized the environmental sustainability of their operations in line with national policy goals.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
(TheNewswire)
The net proceeds raised from the Offering will be used to advance the high-grade El Potrero gold-silver project in Durango, Mexico, and for general working capital.
Mr. Michael Kott, Pinnacle’s largest shareholder, and an insider of the Company, has indicated his intention to subscribe for 2,400,000 units, or 12% of the financing. Other Insiders of the company will also be participating in the offering. The participation of the insiders in the offering will constitute a related-party transaction for the purposes of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The Company is exempt from the requirements to obtain a formal evaluation or minority shareholder approval in connection with the insider participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the securities issued, nor the fair market value of the consideration for the securities issued will exceed 25 per cent of the company’s market capitalization as calculated in accordance with MI 61-101.
‘We sincerely appreciate Michael’s continued support in this financing,’ stated Robert Archer, Pinnacle’s President & CEO. ‘He shares our vision of building a new Americas-focused silver and gold company and advancing El Potrero is a significant step on that journey.’
All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval. The securities offered have not been registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
About Pinnacle Silver and Gold Corp.
Pinnacle is focused on district-scale exploration for precious metals in the Americas. The high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt hosts an underexplored low-sulphidation epithermal vein system and provides the potential for near-term production . In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high- grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon . With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.
Signed: ‘Robert A. Archer’
President & CEO
For further information contact :
Email: info@pinnaclesilverandgold.com
Tel.: +1 (877) 271-5886 ext. 110
Website: www.pinnaclesilverandgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Copyright (c) 2025 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Q2 confirmed that the artificial intelligence (AI) boom is entering a new phase in the physical world.
As the industry evolves, attention is being directed to strengthening underlying infrastructure while advancing areas like embodied AI, a subsector that MarketsandMarkets projects will grow at a CAGR of 39 percent globally by 2030.
Also during Q2, a geopolitical tech rivalry exacerbated shifting macroeconomic conditions.
While the race for compute, energy, hardware and supply chain dominance intensified, talk of tariff policies reigniting inflation or contributing to stagflation created brief periods of contraction.
Concerns also grew around AI-driven job displacement, amplified by Anthropic CEO Dario Amodei’s ominous warning that AI could eliminate up to half of all entry-level white-collar jobs within the next five years.
On a more positive note, the S&P 500 (INDEXSP:.INX) and Nasdaq Composite (INDEXNASDAQ:.IXIC) both ended Q2 up by 0.5 percent, closing the first half of 2025 at all-time highs with gains of 5.5 percent.
That said, investor enthusiasm for AI is showing early signs of recalibration.
Big Tech delivered generally robust Q2 earnings despite initial volatility in April, but posted only modest year-to-date gains, suggesting near-term caution around richly valued growth names. Meanwhile, quantum computing, which NVIDIA (NASDAQ:NVDA) CEO Jensen Huang said was decades away just six months ago, made measurable progress in Q2, drawing attention from both deep-tech investors and national governments.
McKinsey’s annual Quantum Technology Monitor projects that quantum computing, communication and sensing could generate up to US$97 billion in global revenue by 2035, with quantum computing leading the way.
Not surprisingly, AI companies performed well. Thirty-eight AI stocks chosen by Morningstar — including Palantir Technologies (NASDAQ:PLTR), Palo Alto Networks (NASDAQ:PANW), Synopsys (NASDAQ:SNPS) and Micron Technology (NASDAQ:MU) — closed 27.3 percent higher, outpacing the Morningstar US Technology Index, which gained 22 percent.
Ultimately, the quarter underscored a strategic pivot for major tech players, prioritizing vast infrastructure investments alongside aggressive AI monetization efforts to capitalize on this transformative era.
In public markets, AI-related equities continued to attract attention.
NVIDIA posted another blockbuster quarter, with its market cap on the cusp of $US4 trillion at the end of June. Its performance was driven largely by demand for Blackwell architecture.
Alphabet (NASDAQ:GOOGL), facing a possible Chrome divestiture, reported an increase in AI-related ad revenue and highlighted growing adoption of its Gemini model suite. Amazon (NASDAQ:AMZN) reported a 23 percent annual increase in net sales from its Amazon Web Services segment, beating earnings estimates by 17.78 percent.
Meta Platforms’ (NASDAQ:META) Reality Labs division reported a $US4.2 billion operating loss; however, interest in embodied AI applications for the metaverse and augmented reality continue to be the company’s long-term play, with CEO Mark Zuckerberg poaching the industry’s top talent to assemble the Meta Superintelligence Lab. On July 7, Reuters reported that the company had added Apple’s (NASDAQ:AAPL) Ruoming Pang as its latest recruit.
Microsoft’s (NASDAQ:MSFT) OpenAI partnership faced issues after OpenAI bought Windsurf, an AI coding firm. Disputes arose over Microsoft’s access to WindSurf’s IP and its stake in a restructured OpenAI.
Q2 was also marked by a shift to AI in hardware, robotics and edge applications.
Chipmakers Advanced Micro Devices (NASDAQ:AMD) and Google introduced specialized AI accelerators, a potential challenge to NVIDIA’s nearly three year run as the dominant provider.
Notable developments in robotics included Google Cloud and Samsung Electronics’ (KRX:005930) partnership, integrating Google Cloud’s advanced generative AI technology into Samsung’s new home AI companion robot, Ballie.
Data center operators like Amazon Web Services and Google Cloud also increased their infrastructure investments in the US as part of an effort to reduce reliance on foreign markets and secure long-term AI compute capacity.
Companies began testing or rolling out new AI agent capabilities, empowered by the Model Context Protocol from Anthropic. Major tech players, along with payment giants Visa (NYSE:V), Mastercard (NYSE:MA), Stripe, Block (NYSE:SQ) and PayPal (NASDAQ:PYPL), began adopting the Model Context Protocol to integrate seamless payment functionality directly into AI chatbots, moving beyond simple browse to full commerce.
Microsoft enhanced its GitHub Copilot offering with new coding agents capable of autonomous actions, while a handful of companies, including Dataiku, Databricks and Atlassian (NASDAQ:TEAM), introduced tools designed to build, deploy and manage autonomous systems for real-world enterprise applications.
On the quantum computing side, a paper published by researcher Craig Gidney for Google’s Quantum AI division suggests that a quantum computer could break a highly secure 2048 bit encryption, like the kind used for online banking, much faster than previously thought, requiring fewer than a million qubits.
Quantum computing firms later saw their shares spike following bullish comments from NVIDIA’s Huang at his company’s Paris GTC conference. Before Huang’s comments, IBM (NYSE:IBM) announced its development of the world’s first large-scale, error-free quantum computer, set to launch by 2029.
Q2 confirmed the AI cycle is evolving beyond text-based chatbots to hardware, embodiment and commercial uses.
While the Magnificent Seven still largely drove returns in Q2, there’s an expectation that earnings growth will broaden out to other sectors. Picton Investments’ 2025 mid-year update suggests that foundational model growth is encountering headwinds, with competition challenging the need for extensive capital expenditure.
Graph indicating that investor enthusiasm for AI stocks has recently ‘lost altitude.’
Graph via Picton Investments.
However, the firm also suggests that this shift is redirecting the spotlight to real-world AI applications, leading to an expected acceleration of industrial adoption and the creation of new companies.
At this year’s Web Summit conference in May, panelists emphasized the critical role of strategic early stage investments when it comes to navigating the evolving AI landscape and identifying new opportunities.
“Our take is (that) AI is going to upend a lot of technology businesses. In the specific sense, I am of increasingly high conviction that authoring software is going to be more or less free, and that’s going to shake up the topology of the software business market (in terms of) what makes sense and what’s investable,” said Brett Gibson, managing partner at Initialized Capital, during a panel discussion on where AI investment is headed next.
He added that customizable software will ultimately allow for tailored solutions for virtually any need.
In H2, quantum computing could continue its shift from pure research into early stage commercialization.
Updates may come from firms like IonQ (NYSE:IONQ), which recently raised US$1 billion to expand quantum networking, as well as Quantinuum and PsiQuantum, which may reach technical milestones.
Meanwhile, D-Wave (NYSE:QBTS) is pivoting toward hybrid commercial models, which may offer continued proof of revenue from quantum optimization-as-a-service.
However, the outcome of ongoing trade negotiations between the US and the rest of the world could impact chip capacity and rare earths supply chains, constraining the growth of AI hardware stocks.
The Trump administration’s imposition of 25 percent tariffs on Japan and South Korea may pose a threat to semiconductor capacity and rare earths equipment imports critical for AI hardware.
“Both countries have been close partners on economic security matters and have a lot to offer the United States on priority matters like shipbuilding, semiconductors, critical minerals and energy cooperation,” Asia Society Policy Institute vice president Wendy Cutler said in response to the hikes.
The second quarter of the year confirmed an evolution in the AI landscape as the industry moves beyond theoretical discussions to real-world applications and critical infrastructure development.
While geopolitical tensions and concerns about job displacement may continue to present challenges, this pivot could set the stage for continued innovation and adaptation as the industry navigates both opportunities and complexities.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
After soaring to all-time highs during the first quarter of 2025, how could gold follow up during Q2?
By setting new price records, of course.
Tariff threats, financial uncertainty and geopolitical tensions all fueled the yellow metal’s price rise during the second quarter of the year, which saw gold reach the US$3,500 per ounce mark for the first time.
While central banks continued to make gold purchases during the period, so too did retail investors, who shied away from US treasuries in favor of a more tangible safe-haven asset class.
Gold had an impressive run during the first quarter of the year, steadily rising from US$2,658.04 on January 2 to US$3,138.24 on April 2, leaving investors to wonder how much more gas was available for Q2.
Gold price, April 1 to July 10, 2025.
Chart via Trading Economics.
The price of gold started the second quarter on a downswing, falling below the US$3,000 mark by April 8, but quickly found momentum and soared to its quarterly high of US$3,434.40 on April 21.
It broke through the US$3,500 threshold briefly during the day’s trading session.
However, the gains were temporary, and gold once again fell; by May 1, it had dropped to US$3,237.30.
The metal saw a slight rebound to US$3,400.70 before the May meeting of the US Federal Reserve, but it came under pressure after that and had fallen to US$3,185 by May 14.
The end of May saw more tailwinds for the gold price, pushing it first to US$3,358 by May 23, then to US$3,381.70 by June 2. By the middle of the month, it was back to trading above US$3,400. Since that time, the precious metal has remained mainly above the US$3,300 level, closing the quarter at US$3,303.30 on June 30.
The biggest story from the first quarter has carried over into the second quarter: tariffs.
Since the start of his second term in the Oval Office, US President Donald Trump has applied the threat of tariffs like a cudgel in trade talks with other countries. His long-held belief is that other nations, even longtime allies, are benefiting from trade with the US, while the US itself is facing detrimental effects.
During the first quarter of the year, the Trump administration levied tariff threats against Canada and Mexico. While most of his promised import fees were dialed back at the eleventh hour, a 25 percent tax was still applied to imports of Canadian steel and aluminum, as well as non-CUSMA-compliant automobiles and parts.
On April 2, Trump announced a broader set of tariffs on nearly every country in the world, regardless of trade status with the US. Dubbed “Liberation Day” by Trump, the executive order applied a baseline 10 percent fee to all imports from most countries to the US, plus significant reciprocal measures against countries with the largest trade deficits.
The new measures, set to be implemented on April 9, created panic among investors, causing a global market meltdown. Fear also spread to US debt holders, such as Japan and Canada, which began to sell US treasuries, pushing up the 10 year bond yield. Spooked investors rapidly flocked to gold, pushing the price to record highs above US$3,400.
“The bond market understands that Washington is so broken and the debt situation is so bad,’ he explained. ‘It varies in degrees compared to other countries, but everybody’s in the same boat. That’s why gold all of a sudden … gold is the safe haven now, even more than treasuries. And I don’t think a lot of people every thought they’d see that again.’
Ultimately, the stock market turmoil and the shift in bond market sentiment brought about a quick reversal from Trump, who paused his tariff plans for 90 days. Although the gold price showed signs of easing as market participants calmed, the metal remained high through the end of the quarter as uncertainty remained near the surface.
The pause was set to expire on July 9, but the White House announced a last-minute extension delaying the implementation of the tariffs on all but 14 countries, including Japan, South Korea and South Africa.
However, there are still underlying concerns.
The US-China trade war, which raged through much of the first half of the year, was put on hold on May 12 after tariffs between the two largest economies reached their peak, adding headwinds to the gold price. Up to that point, the US had levied a 145 percent import tax on Chinese goods while China had applied a 125 percent tax on US imports.
Although tensions have stabilized since the pause, on July 7, China warned the US against reigniting conflicts. China also said it would retaliate against any country that makes deals with the US to China’s detriment.
Financial uncertainty was a key driver of the gold price through the second quarter as investors sought to diversify their portfolios amid a chaotic investment landscape, but it wasn’t the only factor.
Geopolitical tensions also played a significant role, particularly in the Middle East.
With the Israel-Gaza conflict now past 18 months, the larger fear was that it would spill into a broader regional war.
Those fears were stoked in late May, when there was speculation that Israel was preparing to attack nuclear facilities in Iran. The news helped pull gold out of monthly lows as more investors sought the safety of the metal.
Ultimately, the speculation was true — on June 12, Israel launched attacks against key nuclear sites in Iran, causing Iran to launch counterattacks against targets in Israel and providing further tailwinds for the gold price.
Other support for the gold price came from continued purchases from central banks.
According to World Gold Council data, central banks bought 244 metric tons of gold in Q1. The amount was 24 percent higher than the five year quarterly average, but 9 percent lower than the average from the last three years.
The largest first quarter gold buyers were the National Bank of Poland, which added 49 metric tons of the metal to its holdings, increasing its total to 497 metric tons. This was followed by the People’s Bank of China, which purchased 13 metric tons, bringing its reported gold reserves to 2,292 metric tons
In another report, the World Gold Council indicates that despite high prices, central banks continued to buy gold in May, albeit at a slightly reduced pace, with a net 20 metric tons entering their reserves.
But it’s not just central banks that are picking up gold.
“In the past, there has been relatively little involvement, even to now, from western retail investors in this move. This has been overwhelmingly led by central banks and large funds,” Temple said.
However, he noted a shift in buying on the back of wider interest, pointing to gold’s popularity at Costco Wholesale (NASDAQ:COST), although he noted, ‘So far, this hasn’t moved the needle significantly.’
Temple added, “Traditionally the big needle mover when you’ve got these larger swings in markets and market sentiment has come from investors who are buying exchange-traded funds (ETFs) and buying the larger gold stocks, and then ultimately working their way down the food chain and buying the better exploration stories. We finally started in recent months to see some of that where it’s deserved. There have been some really nice moves.’
This idea is echoed in the World Gold Council’s June ETF report, which indicates that ETF flows ended the first half of 2025 with the highest semiannual inflows since the first half of 2020.
The North American movement led the way, with more than US$4.8 billion entering the market in June, bringing the total for the first half of the year to US$21 billion. This was followed by US$2 billion in inflows in Europe, with its first half total reaching US$6 billion. Asian markets added US$610 million with a first-half record of US$11 billion.
The expectation is that the factors that drove the gold price in H1 are unlikely to go away soon.
Trump continues to kick the tariff question down the road. And although a ceasefire has been called between Israel and Iran, tensions in the region are still high. The conflict between Russia and Ukraine is ongoing, with Russia escalating attacks at the start of July, to the point of invoking Trump’s ire.
“We were thinking that by the time you got into June, July, August, not only would you have some seasonal weakness, but you’d also have a situation where financial markets might have calmed down and taken a less pessimistic outlook to the economy, simply because the initial shock of Trump policies was in there and had been digested. What we’re seeing is a prolongation of that shock period.’
Financial uncertainty and conflicts were a theme echoed by Kandoshko.
She pointed to the July 9 — now August 1 — deadline for tariffs as a potential inflection point.
“This could spark another rally in gold prices if trade tensions escalate. I have a feeling that the existing tariffs will gradually push prices up, which might lead the Fed to hold off on cutting rates. In the grand scheme of things, higher inflation is likely to boost gold demand, especially from central banks,” Kandoshko said.
She also believes a weak US dollar will likely be a boon for gold, making it more attractive to overseas buyers.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Former President Joe Biden defended his use of an autopen during a recent interview, shedding light on his administration’s rationale for the controversial use of the technology.
The interview with the New York Times was centered around his use of an autopen during the last pardons that he made during the end of his administration.
In his final weeks in office, Biden granted clemency and pardoned more than 1,500 individuals, in what the White House described at the time as the largest single-day act of clemency by a U.S. president.
Speaking to the Times on Thursday, Biden said that he ‘made every decision’ on his own.
‘We’re talking about [granting clemency to] a whole lot of people,’ the Democrat said.
However, the Times reported that Biden ‘did not individually approve each name for the categorical pardons that applied to large numbers of people,’ according to the former president and his aides.
‘Rather, after extensive discussion of different possible criteria, [Biden] signed off on the standards he wanted to be used to determine which convicts would qualify for a reduction in sentence,’ the Times’s report read.
Instead of repeatedly asking the president to resign updated versions of official documents, his staff used an autopen to put Biden’s signature on the final version.
Biden’s comments came as Republicans attacked him for his autopen use on a massive number of official documents.
In June, President Donald Trump sent a memo to the Department of Justice directing Attorney General Pam Bondi to investigate the autopen use, and to determine whether it was related to a decline in Biden’s mental state.
‘In recent months, it has become increasingly apparent that former President Biden’s aides abused the power of Presidential signatures through the use of an autopen to conceal Biden’s cognitive decline and assert Article II authority,’ Trump wrote.
‘This conspiracy marks one of the most dangerous and concerning scandals in American history. The American public was purposefully shielded from discovering who wielded the executive power, all while Biden’s signature was deployed across thousands of documents to effect radical policy shifts.’
Also in June, Trump told reporters that he thought it was ‘inappropriate’ to use an autopen at all, though past presidents have used them.
‘Usually, when they put documents in front of you, they’re important,’ Trump said. ‘Even if you’re signing ambassadorships or – and I consider that important, I think it’s inappropriate.’
‘You have somebody that’s devoting four years of their life or more to being an ambassador. I think you really deserve that person deserves to get a real signature… not an autopen signature.’
Fox News Digital’s Breanne Deppisch contributed to this report.
Attorney General Pam Bondi, FBI Director Kash Patel and Deputy FBI Director Dan Bongino all called for Jeffrey Epstein’s sex-trafficking secrets to be made public long before the DOJ’s stunning about-face last week.
‘This systemic review revealed no incriminating ‘client list,’’ read a joint memo leaked to Axios a week ago. ‘There was also no credible evidence found that Epstein blackmailed prominent individuals as part of his actions. We did not uncover evidence that could predicate an investigation against uncharged third parties.’
The revelation shocked many MAGA Republicans and Trump supporters, who had for years believed that Epstein was at the heart of a child sex trafficking ring that involved blackmailing prominent movers and shakers worldwide. Many also doubt the government’s finding that Epstein died by his own hand in New York’s Metropolitan Correctional Center in 2019.
Trump has since brushed off the Epstein investigation as old news, slamming a reporter who asked about Epstein during a Cabinet meeting last week, and posting a Truth Social message on Saturday defending Bondi for her leadership over the case and claiming that Epstein is ‘somebody that nobody cares about.’
‘LET PAM BONDI DO HER JOB — SHE’S GREAT! The 2020 Election was Rigged and Stolen, and they tried to do the same thing in 2024 — That’s what she is looking into as AG, and much more,’ Trump wrote in a lengthy Truth Social post defending Bondi. ‘One year ago our Country was DEAD, now it’s the ‘HOTTEST’ Country anywhere in the World. Let’s keep it that way, and not waste Time and Energy on Jeffrey Epstein, somebody that nobody cares about.’
As MAGA supporters continue calling for details on Epstein’s crimes and alleged ties to the world’s elite, Fox News Digital took a look back at what Bondi, Patel and Bongino had to say about Epstein before the anticlimactic memo dropped.
Just a couple of weeks after Bondi was sworn in as the nation’s 87th attorney general on Feb. 5, she joined Fox News Channel and touted her mission of transparency, most notably on Epstein, and the assassinations of former President John F. Kennedy and Martin Luther King Jr.
‘The DOJ may be releasing the list of Jeffrey Epstein’s clients. Will that really happen?’ Fox News’ John Roberts asked Bondi in an interview on Feb. 21.
‘It is sitting on my desk right now to review. That’s been a directive by President Trump. I’m reviewing that. I’m reviewing the JFK files, the MLK files. That is all in the process of being reviewed because that was done at the directive of the president from all these agencies,’ Bondi responded.
‘Have you seen anything that you said, ‘Oh, my gosh?’’ Roberts asked.
‘Not yet,’ Bondi responded.
Bondi released an initial batch of files on Epstein to a handful of social media personalities in late February, but the packets did not contain new evidence. However, Bondi once again vowed to come through on Trump’s message of transparency on Epstein’s ‘disgusting actions.’
‘This Department of Justice is following through on President Trump’s commitment to transparency and lifting the veil on the disgusting actions of Jeffrey Epstein and his co-conspirators,’ Bondi said in press release. ‘The first phase of files released today sheds light on Epstein’s extensive network and begins to provide the public with long overdue accountability.’
The next month, in March, Bondi joined Fox News’ Sean Hannity and said she ordered the FBI to deliver evidence related to Epstein under a firm deadline, claiming a local field office in New York initially withheld evidence on Epstein.
‘I gave [the FBI] a deadline of Friday at 8 a.m. to get us everything,’ Bondi said. ‘And a source had told me where the documents were being kept, Southern District of New York, shock. So we got them all by Friday at 8 a.m.’
‘Thousands of pages of documents. I have the FBI going through them… and Director Patel is going to get us a detailed report as to why the FBI withheld all of those documents,’ she continued at the time.
Bondi again in May fanned the flames of a potential Epstein bombshell when she stated there were no files missing from her investigation and that the DOJ had uncovered tens of thousands of videos showing Epstein with ‘children and child porn.’
‘No, the FBI, they’re reviewing tens of thousands of videos of Epstein with children or child porn,’ Bondi told the media in May when asked about the Epstein files.
‘There are hundreds of victims,’ she added. ‘… The FBI is diligently going through that.’
Bondi was confronted about her February comments on the Epstein files during a Cabinet meeting on Tuesday, where she defended her remarks to Fox News regarding claims that the Epstein files were on her desk and ready for review.
‘I was asked a question about the client list, and my response was, ‘it’s sitting on my desk to be reviewed,’ meaning the file along with the JFK, MLK files as well,’ Bondi responded.
‘That’s what I meant by that. Also, to the tens of thousands of video, they turned out to be child porn downloaded by that disgusting Jeffrey Epstein,’ she continued, saying no such videos would be released or ‘see the light of day.’
Long before Patel was floated and named as Trump’s FBI chief, the longtime opponent of the ‘Deep State’ claimed the FBI was in control of Epstein’s reported client list and said it could be released on Trump’s first day in office via a subpoena.
‘That’s under direct control of the director of the FBI,’ Patel said in 2023 during an interview with BlazeTV’s Glenn Beck. ‘That’s a thing I think President Trump should run on. On day one, roll out the black book.’
Patel added in an interview with conservative social media personality Benny Johnson that same year that the FBI was keeping the list private due to the high-profile names in Epstein’s orbit.
‘Put on your big boy pants and let us know who the pedophiles are,’ Patel said, aiming his remarks at Republican lawmakers.
He continued that ‘one subpoena to the FBI’ would have forced the release of the alleged list during the same interview with Johnson.
Patel, who was seen as one of Trump’s more controversial Cabinet picks, earned the praise of key senators for his public calls to uncover details on Epstein ahead of his confirmation hearings. Sen. Marsha Blackburn, R-Tenn., for example, promoted Patel’s nomination as FBI director as he would reveal details on Epstein.
‘I look forward to working with Kash Patel as FBI Director to release Epstein’s flight logs and black book,’ Blackburn posted to X following Patel’s nomination in November. ‘Under the Trump administration, the American people are going to get answers.’
Fast-forward to his confirmation hearing in January, Patel vowed he would work to uncover Epstein’s alleged vast web of crimes and connections to high-profile individuals.
‘I want to talk to you about the Epstein case,’ Blackburn told Epstein in January during his confirmation hearing. ‘I have worked on this for years, trying to get those records of who flew on Epstein’s plane and who helped him build this international human trafficking, sex trafficking ring. Now earlier I urged then Chairman Durbin to subpoena those records and I ended up being blocked by Senator Durbin and Christopher Wray. They stonewalled on this and I know that breaking up these trafficking rings is important to President Trump. So will you work with me on this issue so we know who worked with Jeffrey Epstein in building the sex trafficking rings?’
‘Absolutely, Senator,’ Patel responded. ‘Child sex trafficking has no place in the United States of America. And I will do everything, if confirmed as FBI director, to make sure the American public knows the full weight of what happened in the past and how we are going to counterman missing children and exploited children going forward.’
Patel again vowed in February that he would let no stone go unturned as Bondi demanded more documents from the FBI related to Epstein.
‘The FBI is entering a new era – one that will be defined by integrity, accountability, and the unwavering pursuit of justice. There will be no cover-ups, no missing documents, and no stone left unturned – and anyone from the prior or current Bureau who undermines this will be swiftly pursued. If there are gaps, we will find them. If records have been hidden, we will uncover them. And we will bring everything we find to the DOJ to be fully assessed and transparently disseminated to the American people as it should be. The oath we take is to the Constitution, and under my leadership, that promise will be upheld without compromise,’ he posted to X a the time.
Patel and Bongino joined Fox News’ Maria Bartiromo in May and defended that evidence showed Epstein killed himself in his New York City jail cell in 2019 – a death many speculated was not suicide, but a cover-up to allegedly protect elites wrapped up in Epstein’s crime – which sparked outrage among conservatives for their handling of the case.
‘As someone who has worked as a public defender, as a prosecutor who’s been in that prison system, who’s been in the Metropolitan Detention Center, who’s been in segregated housing, you know a suicide when you see one, and that’s what that was,’ Patel said when questioned about Epstein’s death during the interview.
As Trump supporters spoke out against the FBI and DOJ memo determining there was no Epstein bombshell, reports circulated that a rift at DOJ could lead to Patel resigning. The FBI chief denied such claims on X while also adding that ‘the conspiracy theories just aren’t true.’
‘The conspiracy theories just aren’t true, never have been. It’s an honor to serve the President of the United States @realDonaldTrump – and I’ll continue to do so for as long as he calls on me,’ he posted to X.
Back when Deputy FBI Director Dan Bongino hosted a popular national podcast, he urged Americans to keep their eyes peeled on details related to Epstein because it’s a ‘big deal.’
‘That Jeffrey Epstein story is a big deal. Please do not let that story go. Keep your eye on it,’ he told his audience in May 2023.
In January 2024, Bongino again claimed to his audience that details surrounding Epstein were shocking and that he heard from trusted sources that there were multiple videos showing Epstein with associates abusing children.
‘Ladies and gentlemen, it has been speculated by many people who are extremely credible,’ Bongino said on a podcast in 2024, ‘including multiple sources to others and to me – one I spoke to directly – that there are a multitude of tapes.’
‘This is where I get really upset at the media,’ he said later in the podcast, adding that journalists had ‘done almost like no – maybe because I was an investigator before, it’s like, I’m amazed at how few people are putting two and two together.’
Following Patel and Bongino reporting to the public that evidence showed Epstein committed suicide, Bongino posted to X that he was not asking Americans to ‘believe me, or not,’ but was telling them the facts surrounding ‘what exists, and what doesn’t.’
‘I was asked about some of the details surrounding the Jeffrey Epstein case. I have reviewed the case. Jeffrey Epstein killed himself. There’s no evidence in the case file indicating otherwise,’ Bongino posted on the social platform X after the interview. ‘I’m not asking you to believe me, or not. I’m telling you what exists, and what doesn’t. If new evidence surfaces I’m happy to reevaluate.’
Reports spread over the weekend that Bongino clashed with Bondi over the Epstein files, including allegedly raising his voice at White House chief of staff Susie Wiles before abruptly leaving a meeting. Bongino was said to be irate over Bondi’s ‘lack of transparency from the start’ over the handling of the files. Bongino is considering resigning over the matter, but no decision has been made publicly known.
Trump, meanwhile, threw his support behind Bondi in the Saturday Truth Social post while underscoring members of his administration are all on the same team.
‘What’s going on with my ‘boys’ and, in some cases, ‘gals?’ They’re all going after Attorney General Pam Bondi, who is doing a FANTASTIC JOB,’ Trump wrote in a lengthy post on Truth Social on Saturday. ‘We’re on one Team, MAGA, and I don’t like what’s happening.’
‘For years, it’s Epstein, over and over again,’ Trump continued while pinning blaming for the files on Democrats. ‘Why are we giving publicity to Files written by Obama, Crooked Hillary, Comey, Brennan, and the Losers and Criminals of the Biden administration.’
‘They created the Epstein Files, just like they created the FAKE Hillary Clinton/Christopher Steele Dossier that they used on me, and now my so-called ‘friends’ are playing right into their hands,’ Trump wrote. ‘Why didn’t these Radical Left Lunatics release the Epstein Files? If there was ANYTHING in there that could have hurt the MAGA Movement, why didn’t they use it?’
Trump, who said from the campaign trail he was open to releasing such Epstein files if re-elected, slammed a reporter on Tuesday for inquiring about the files, calling Epstein a ‘creep’ who was old news in comparison to national tragedies such as the floods that gripped Texas this month.
‘This guy’s been talked about for years. You’re asking.… We have Texas, we have this, we have all of the things. And are people are still talking about this guy, this creep?’ Trump asked. ‘That is unbelievable.’
‘I mean, I can’t believe you’re asking a question on Jeffrey Epstein,’ Trump added. ‘At a time like this, where we’re having some of the greatest success and also tragedy with what happened in Texas. It just seems like a desecration. But you go ahead.’
The DOJ and White House did not immediately respond to Fox News Digital’s requests for comment on the previous remarks from DOJ leadership ahead of the memo determining Epstein did not have a client list.
Fox News Digital’s Ashley Oliver, Brooke Signman, and Brie Stimson contributed to this report.
MAGA supporters are nor pleased with President Donald Trump following his full-throated defense of Attorney General Pam Bondi, whose Department of Justice denied the existence of a Jeffrey Epstein client list after years of Trump surrogates vowing to reveal the disgraced financier’s secrets.
Longtime conservatives and supporters of Trump sounded off on social media this weekend, as well as in person during a convention in Florida, with various messages pledging that the Epstein scandal will not ‘go away.’ The DOJ determined that Epstein committed suicide in 2019 and that there is no list detailing the names of the world’s elite who allegedly took part in Epstein’s history of sexual deviancy.
‘.@realDonaldTrump please understand the EPSTEIN AFFAIR is not going away,’ retired Lt. Gen. Mike Flynn, Trump’s national security advisor from his first administration, posted to X on Saturday. ‘If the administration doesn’t address the massive number of unanswered questions about Epstein, especially the ABUSE OF CHILDREN BY ELITES (it is very clear that abuse occurred), then moving forward on so many other monumental challenges our nation is facing becomes much harder.’
The DOJ and FBI said in a joint memo obtained by Fox News last week that the two agencies had no further information to share with the public about Epstein’s case and death. That led to FBI Deputy Director Dan Bongino clashing with Bondi over ‘lack of transparency’ and threatening to resign over the matter, Fox News reported.
Epstein was a notorious predator who pleaded guilty to procuring underage girls for prostitution in 2008, before he was arrested in 2019 on new federal charges of sex trafficking minors and conspiracy to engage in sex trafficking of minors. Epstein, who had rubbed elbows with the world’s elites stretching from Bill Gates to being photographed with Trump long before his presidency, was found dead in his New York City jail cell in August 2019 by apparent suicide.
Many MAGA supporters, however, have claimed Epstein did not hang himself, and the death was allegedly part of a bigger cover-up protecting elites allegedly involved in his sexual abuse of minors.
Trump took to Truth Social on Saturday evening and offered a strong endorsement of Bondi as conservatives demanded answers over the long-running scandal.
‘What’s going on with my ‘boys’ and, in some cases, ‘gals?’ They’re all going after Attorney General Pam Bondi, who is doing a FANTASTIC JOB,’ Trump wrote in a lengthy post on Truth Social on Saturday. ‘We’re on one Team, MAGA, and I don’t like what’s happening.’
He referred to Epstein as the ‘guy who never dies,’ adding, ‘For years, it’s Epstein, over and over again.’
Trump questioned why people were ‘giving publicity to Files written by Obama, Crooked Hillary, Comey, Brennan, and the Losers and Criminals of the Biden administration.’
‘They created the Epstein Files, just like they created the FAKE Hillary Clinton/Christopher Steele Dossier that they used on me, and now my so-called ‘friends’ are playing right into their hands,’ Trump wrote. ‘Why didn’t these Radical Left Lunatics release the Epstein Files? If there was ANYTHING in there that could have hurt the MAGA Movement, why didn’t they use it?’
‘LET PAM BONDI DO HER JOB – SHE’S GREAT! The 2020 Election was Rigged and Stolen, and they tried to do the same thing in 2024 – That’s what she is looking into as AG, and much more,’ he wrote. ‘One year ago our Country was DEAD, now it’s the ‘HOTTEST’ Country anywhere in the World. Let’s keep it that way, and not waste Time and Energy on Jeffrey Epstein, somebody that nobody cares about.’
Trump supporters repeatedly posted on X that the Epstein scandal will not simply dissipate after years of high-profile Trump allies, including Bondi, Bongino and FBI Director Kash Patel, previously vowing to expose the corruption surrounding Epstein, his alleged client list and the alleged crimes that played out on his notorious island, Little Saint James.
‘We cannot allow pedophiles to get away. I don’t personally care who they are or what elite or powerful position they hold. They must be exposed and held accountable!!!’ Flynn continued in his X post.
Activist and Trump ally Laura Loomer also slammed Bondi over her leadership, while taking a swipe at the president as well.
‘President Trump says he thinks Blondi is ‘doing a Fantastic job’ as AG in a post he posted on Truth Social today….’ Loomer posted to X on Saturday, accompanied by screenshots of his Truth Social post praising Bondi.
‘People make their own choices and decisions, but mark my word, the lack of actual results at the DOJ and lack of transparency that translates into incompetence will cost the GOP House and Senate seats. Don’t say I didn’t warn you,’ she added in a follow-up post on Saturday.
Robby Starbuck, another longtime Trump supporter and conservative social media personality, railed online that the ‘age of secrets’ must come to an end – beginning with Epstein.
‘People want truth, they want the rapists exposed and brought to justice, they want to break the deep state, they want the 100 year storm of lies from government to end and they want to end the two tiered system of justice. People want peace, safety, justice and sanity,’ Starbuck posted in a lengthy message on Saturday.
‘They want their country back. This case became a symbol for all of that. Fair or unfair, that’s the truth. President Trump rarely loses touch with what’s happening among the base but he’s missing the pulse on this one. Saying so doesn’t mean disloyalty or hatred, it means that this matters so much that we must remind him why it matters so much. We want President Trump to succeed on EVERYTHING he ran on. To do so requires disclosure and transparency on every issue. We need to end the age of secrets,’ he continued.
Amid the fallout surrounding the DOJ’s Epstein findings, Turning Point USA is holding its Student Action Summit in Tampa Bay, Florida, where some conservative allies spoke out against the DOJ and Trump over the lack of answers regarding Epstein.
‘I think that these people – and I don’t know, for whatever reason, there could be reasons – but I don’t think they’re telling us the truth about Epstein,’ podcaster Brandon Tatum said during the convention. ‘I think that that guy was involved in something nefarious that implicates a whole lot of people. And my guess is that the whole lot of people may have, may happen to be some of our allies and some people that we don’t want to have a bad relationship with.’
‘Trump is losing his touch,’ former Republican Florida state Rep. Anthony Sabatini said, according to NBC. ‘Bad personnel are undermining him left and right. We need a full reset.’
The lack of additional details on Epstein has also spurred liberals to call on the Trump administration to release the files surrounding Epstein.
‘Dear Donald Trump and Pam Bondi: Release the Epstein files. What ever happened to ‘Promises Made, Promises Kept?’’ Democratic New York Rep. Ritchie Torres posted to X.
Officials in Trump’s orbit, including those who ultimately rose to high-level positions within the administration, had vowed to uncover alleged details and corruption that had not yet been made public or confirmed both before and after the high-stakes 2024 election.
Patel told conservative social media personality Benny Johnson in 2023, before he became FBI director under Trump’s second administration, that Republicans at the time could easily obtain Epstein’s alleged client list with subpoena, while adding in another interview that year that Trump should ‘roll out the black book’ containing Epstein’s alleged client list on ‘day one.’
Patel also doubled down during his Senate confirmation hearing that he would assist lawmakers in investigating Epstein’s alleged web of the world’s elite involved in his sex crimes.
‘Child sex trafficking has no place in the United States of America,’ Patel told Tennessee Sen. Marsha Blackburn when asked about investigating Epstein during his Senate confirmation hearing this year. ‘And I will do everything, if confirmed as FBI director, to make sure the American public knows the full weight of what happened in the past and how we are going to counterman missing children and exploited children going forward.’
Patel on Saturday posted to X that the ‘conspiracy theories’ weren’t and have never been true, but it was unclear if he was referring to Epstein or reports that he intended to step down if Bongino did.
‘The conspiracy theories just aren’t true, never have been. It’s an honor to serve the President of the United States @realDonaldTrump – and I’ll continue to do so for as long as he calls on me,’ he posted.
Bondi has landed in hot water over her comments during a February Fox News interview when she was asked about the Epstein files, and said it was ‘sitting on her desk.’ The Epstein investigation came as the DOJ also readied to release files on former President John F. Kennedy’s assassination and Martin Luther King Jr.’s assassination.
‘It’s sitting on my desk right now to review,’ Bondi told ‘America Reports’ in February when asked about Epstein’s alleged client list. ‘That’s been a directive by President Trump.’
Bondi argued during a Cabinet meeting this month that she was referring to files on Epstein, ‘along with the JFK, MLK files’ when she told Fox News that ‘it’s sitting on my desk.’
Trump slammed a reporter for asking about Epstein during the Cabinet meeting, calling Epstein a ‘creep’ who should not take media attention away from other tragic news stories, such as the devastating flooding that rocked Texas’ low country this month.
‘Are you still talking about Jeffrey Epstein?’ Trump said to a reporter on July 8.
‘This guy’s been talked about for years. You’re asking.… We have Texas, we have this, we have all of the things. And are people are still talking about this guy, this creep?’ Trump asked. ‘That is unbelievable.’
Fox News Digital reached out to the White House, DOJ and FBI on Sunday morning regarding some MAGA allies criticizing the administration over the handling of the Epstein case but did not immediately receive responses.
Fox News Digital’s Brie Stimson and Amanda Macias contributed to this report.
President Donald Trump and his team are tackling the messy and bloody world we inherited with historic achievements. Through deftly negotiated truces in the Middle East, Africa and Asia, our recent agreement with NATO and the successful strike on Iranian nuclear facilities, the U.S. is now well positioned to win lasting peace.
But despite this historic run, tremendous global challenges remain. Russia’s war against Ukraine goes on, and Communist China rattles sabers in the Pacific.
President Trump needs his full diplomatic team in place, and the time has come to fill the gap at the United Nations with his chosen successor, my friend, fellow veteran, and former House colleague Mike Waltz.
In September, the U.N. will hold its 80th annual gathering of world leaders at the General Assembly in New York, and so that the United States is fully represented, the U.S. Senate should act swiftly to confirm Mike Waltz before their annual August recess.
Mike is the right man for the time we’re living in – and for an America First approach to foreign policy. As I see it, there are six major issues facing the U.N. that Mike will address during his tenure there.
First, the U.N. Security Council must refocus its central mission of settling disputes and brokering deals. No more progressive political signaling.
Second, the U.N. needs to reform its terribly ineffective and toothless ‘peacekeeping’ missions. These security forces sitting on their bases for decades aren’t making dangerous places any safer.
Third, we must counter China in standards-setting bodies. For too long, we have failed to push back on Communist China’s influence. Mike understands the need to be tough with the CCP and I know he will deliver on this front.
Fourth, it is time to dismantle the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) and its $1.2 billion budget. Corruption pervades this sham agency. President Trump has not been shy about calling out other U.N. deficiencies. He pulled the U.S. out of the so-called Human Rights Council and the World Health Organization, and Mike will see to it that we do not engage with such insidious works on his watch.
Fifth, antisemitism itself must be stamped out at the U.N. For too long the corrosive hatred of the Jewish people has festered at the organization. Israel has a right to exist, a right to live free of fear and with peaceful neighbors.
Finally, it is time to defund foreign aid programs not in line with President Trump’s America First agenda. Woke waste is rampant at the U.N. and the House Foreign Affairs Committee, which I chair, has identified several ridiculous examples. Programs promoting ‘Gender sensitive approaches to addressing the Digital Information Disorder’ and ‘Being LGBTI in the Caribbean,’ for example, need to end and Mike will see that that they do.
Mike dedicated his life to national service. He’s a retired U.S. Army colonel and Green Beret who was awarded four Bronze Stars. He’s spent nearly three decades defending our country on the battlefield and serving the American people in the halls of power.
The title of Mike’s 2014 book is ‘Warrior Diplomat,’ and at the U.N. it is his understanding of foreign policy that may be his greatest asset. Before joining the Trump administration, he was policy director for two secretaries of defense and was elected three times to Congress, where he served on the Foreign Affairs, Intelligence and Armed Services Committees, as well as the House China Task Force.
Mike is a seasoned operator, a principled America First conservative, and a skilled communicator who is unafraid to take America’s case directly to the world. Mike will be the president’s voice at the U.N. and will faithfully implement President Trump’s agenda while maintaining our historic ‘peace through strength’ philosophy that won the Cold War.
Earlier this year, in an executive order initiating a full review of U.S. involvement in the U.N., President Trump criticized the organization for being more eager to take ideological stances and back our adversaries than to tackle difficult global issues.
Still, as the president signed the order, he repeated a sentiment he’s expressed frequently since 2017: ‘I’ve always felt that the U.N. has tremendous potential. It’s not living up to that potential right now.’ Realizing that potential will be a big part of Mike’s job as the president’s emissary.
For all its imperfections, the United Nations remains a forum for advancing American interests and challenging our adversaries on the world stage. At this time of global tension and conflict, we need someone smart, tested and clear-eyed representing us there. It’s time to confirm Mike Waltz.