Latest news with #Schiff
Politico
a day ago
- Politics
- Politico
Judiciary Democrats demand probe after third Bove whistleblower
Two Democrats on the Senate Judiciary Committee want the Justice Department's top watchdog to probe allegations against a contentious judicial nominee. Sens. Adam Schiff (D-Calif.) and Cory Booker (D-N.J.) sent a letter Tuesday to William Blier, DOJ's acting inspector general, asking if his office is, or already has, conducted an investigation related to Emil Bove, whom President Donald Trump has nominated to the 3rd Circuit Court of Appeals. Bove has been dogged by accusations that he suggested defying court orders that could restrain the administration's aggressive immigration and deportation agenda. Staff for Judiciary Chair Chuck Grassley (R-Iowa) met Monday with lawyers for a new whistleblower, the third person to have publicly emerged questioning Bove's fitness for the bench. In the Tuesday letter obtained exclusively by POLITICO, Schiff and Booker said it is 'imperative' that the Senate have 'full knowledge' before taking a final vote on Bove, who has denied allegations of wrongdoing. 'In the event these whistleblower complaints and other reports have not already prompted investigations by your office, we urge you to undertake a thorough review of these disclosures and allegations,' they added. Democrats argue that the allegations against Bove should disqualify him from a lifetime appointment to the powerful appeals court, with Schiff and Booker suggesting they support claims he 'abused his authority' at DOJ. But they are also largely powerless to stop Republicans from confirming him so long as enough of their own members stick together. A spokesperson for Grassley said the latest allegations 'reek of a bad faith attempt to sink a nominee.' The Senate is expected to take a final vote on Bove this week, though Republican leaders haven't locked in a final time as they work through other nominations and keep a careful eye on GOP attendance. Republicans can lose three of their own members and still let Vice President JD Vance break a tie. GOP Sens. Susan Collins of Maine and Lisa Murkowski of Alaska are both expected to oppose Bove. Hailey Fuchs contributed to this report.
Time of India
5 days ago
- Business
- Time of India
Peter Schiff just dropped a bombshell: Gold about to leave crypto in the dust
Peter Schiff Warns: 'Gold Will Leave Crypto in the Dust' - Economist and gold advocate Peter Schiff has once again sparked intense debate in the investment world, claiming that gold is on the verge of outperforming cryptocurrencies in a significant way. In a series of recent interviews, public statements, and market commentaries, Schiff has warned investors that the excitement around Bitcoin and other digital assets is misguided. He believes gold is set to regain its crown as the ultimate safe-haven asset, while crypto will struggle under mounting economic pressures. As the global financial system grapples with inflation, currency debasement, and growing geopolitical tensions, Schiff insists that gold's historical reliability will ultimately leave crypto behind in terms of both performance and trust. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management MBA CXO Management Digital Marketing Public Policy PGDM healthcare Design Thinking Healthcare Data Science Data Science Technology Artificial Intelligence Cybersecurity Others MCA Data Analytics Leadership others Finance Degree Product Management Operations Management Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details How is gold performing compared to Bitcoin and crypto ETFs? The numbers so far in 2025 are clear: gold is beating Bitcoin in both price growth and stability. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Many Are Watching Tariffs - Few Are Watching What Nvidia Just Launched Seeking Alpha Read More Undo Year-to-date performance (2025): Gold price has surged over +25% , hitting an all-time high of $3,500 per ounce in April. As of July 2025, it's trading around $3,330–$3,400 . Bitcoin ETFs , such as BlackRock's IBIT, have returned roughly +14.5% year-to-date. Gold ETFs , like SPDR Gold Shares (GLD), have delivered returns closer to +24.4% . Why are central banks buying so much gold in 2025? One of the strongest indicators behind Schiff's confidence is central bank behavior — and the numbers don't lie. Live Events In 2025, central banks are on track to purchase over 1,000 metric tons of gold, according to data from Metals Focus and the World Gold Council. That's more than double the average annual purchases made between 2010 and 2020. Even after 2024's record 1,086 metric tons, central banks are still hungry for gold — showing only a slight 8% drop in buying volume this year. Nearly 95% of reserve managers surveyed by the World Gold Council in 2025 expect gold's share in global reserves to increase, not decrease. Roughly 43% of central banks plan to increase their own gold holdings in the next 12 months. In contrast, Bitcoin continues to be almost entirely absent from global reserve portfolios. No major central bank has yet adopted Bitcoin as a formal reserve asset. Why Schiff says Bitcoin isn't a reliable hedge in 2025 Peter Schiff has long argued that Bitcoin is too volatile to be a store of value, and the current data backs him up. Bitcoin's price volatility remains three times higher than gold's , based on 30-day average swings. In fact, Bitcoin is nearly 7x more volatile than gold on an annualized basis. During economic or geopolitical shocks (like the April 2025 oil shock), gold prices soared, while Bitcoin initially dropped by 6% before bouncing back — a sign that investors still flee to gold first. Schiff calls this a major flaw in the 'Bitcoin as digital gold' narrative. Gold acts like a safe haven. Bitcoin behaves more like a tech stock or meme coin , Schiff said during his controversial appearance at the Bitcoin 2025 conference in Miami. Bitcoin's Image as 'Digital Gold' Under Fire For years, Bitcoin has been branded as 'digital gold'—a decentralized store of value immune to inflation and geopolitical risks. But Schiff sharply rejects this notion, stating that Bitcoin lacks intrinsic value and is driven more by speculative hype than fundamental worth. He has described Bitcoin as a 'decentralized Ponzi scheme' and a 'memecoin for the masses,' pointing out that it has no utility beyond what people believe it has. During moments of global unrest—such as military conflicts or political crises—gold tends to rise in value, while crypto assets often dip. This, Schiff argues, proves that Bitcoin does not behave like gold when it truly matters. Gold vs Crypto: 2025 Performance Snapshot In comparing asset performance this year, Schiff points to gold's strong rally, especially through gold-mining stocks and ETFs. Many gold-related investments have significantly outperformed even the top-performing cryptocurrencies in 2025. Gold miner stocks in particular have seen impressive double-digit gains, while Bitcoin and Ethereum have had more volatile and inconsistent performances. Schiff believes this trend will only accelerate. He argues that crypto's current gains are built on shaky ground—largely fueled by sentiment, meme culture, and speculative momentum—while gold's rally is rooted in real-world demand, institutional investment, and macroeconomic fundamentals. Short-Term Moves: Schiff's Take on Ethereum and Bitcoin In a surprising shift from his traditionally anti-crypto stance, Schiff recently suggested that investors might consider switching from Ethereum to Bitcoin in the short term. He explained this by noting that technical indicators show Bitcoin currently has stronger market momentum compared to Ethereum. However, he quickly followed up this statement by warning investors to exit Bitcoin altogether and move into gold or gold-mining stocks. His reasoning? While Bitcoin may have short-term upside versus other altcoins, it still lacks the long-term stability and value foundation that gold has maintained for centuries. What does Schiff predict for gold in late 2025 and 2026? Peter Schiff isn't just making short-term calls. He believes gold is entering a new long-term supercycle — and analysts are starting to agree. Schiff predicts gold could top $4,000/oz by mid-2026 , as inflation concerns persist and global trust in fiat currencies erodes. JPMorgan and UBS have echoed similar views, setting $3,675–$4,000 price targets for Q4 2025. If the U.S. dollar weakens further and interest rate cuts continue, gold's upside remains strong . Gold-Backed Tokens: Schiff's Digital Pivot Despite being a vocal critic of cryptocurrencies, Schiff isn't completely against digital finance. He's expressed growing interest in gold-backed tokens—digital assets that represent ownership in real, physical gold. Schiff believes these kinds of assets combine the technological advantages of blockchain with the tangible value of gold, offering a far more reliable alternative to fiat-backed stablecoins or speculative cryptocurrencies. He's even hinted at launching his own gold-backed token project, which would allow investors to own fractional gold assets securely via blockchain. This approach reflects a growing demand for trustworthy digital alternatives that are actually tied to real-world value, unlike the often-unbacked tokens circulating in the crypto market. Is Bitcoin losing its edge as digital gold? Despite crossing $105,000 in June, Bitcoin's 2025 performance still trails gold in several critical ways: Schiff points out that Bitcoin is still 15% below its all-time high when priced in gold terms — suggesting that even in 'bullish' crypto conditions, gold is winning the long game. Bitcoin adoption remains retail-driven, while gold is gaining traction with sovereign institutions. To Schiff, this is proof that Bitcoin is not replacing gold — it's competing in a different, more speculative category. Why Schiff Believes Gold Will Win Peter Schiff's main points can be broken down into five key reasons why he believes gold is about to dominate: 1. Centuries of Proven Value Gold has a multi-thousand-year track record as a store of value, while Bitcoin is still relatively new and untested over full economic cycles. 2. Institutional Preference While retail traders may favor crypto for short-term gains, governments and central banks are steadily accumulating gold—not Bitcoin—suggesting where long-term confidence lies. 3. Performance in Crises During recent geopolitical and economic shocks, gold has consistently performed well, while Bitcoin has often dropped in value—challenging its 'safe-haven' status. 4. Asset Backing and Intrinsic Worth Gold is a physical commodity with tangible uses in industry, jewelry, and currency backing. In contrast, crypto is purely digital, with no intrinsic utility beyond its perceived scarcity. 5. Sustainable Market Dynamics The rise in gold prices is fueled by real-world demand and supply constraints. Crypto, on the other hand, often moves based on market sentiment, influencer promotion, or sudden policy announcements. Are investors starting to agree with Schiff? While the crypto community continues to push Bitcoin adoption, mainstream investors and institutions are quietly favoring gold: Gold-backed ETFs have seen net inflows of over $45 billion globally in 2025, the largest since 2020. Meanwhile, Bitcoin ETF inflows have slowed, with many investors citing regulatory risks, energy concerns, and high volatility. Even major hedge funds like Bridgewater, BlackRock, and Ray Dalio's camp have increased gold exposure this year — while keeping crypto allocations flat or trimmed. A Balanced Investment Perspective While Schiff's outlook strongly favors gold, many financial analysts recommend a balanced investment strategy. Crypto continues to offer high potential returns, particularly for risk-tolerant investors looking for short- to medium-term gains. Meanwhile, gold remains a reliable long-term hedge against inflation and currency debasement. Investors may consider holding a diversified portfolio that includes both assets—allocating more weight to gold for stability, and a smaller portion to crypto for speculative growth potential. Schiff's warnings are particularly important for those who are overexposed to digital assets without a fallback. Gold-Backed Digital Assets: The Best of Both Worlds? As the finance industry evolves, more investors are exploring hybrid solutions—especially gold-backed cryptocurrencies or tokenized assets. These allow users to enjoy the transparency and speed of blockchain while maintaining the value security of gold. This trend aligns with Schiff's prediction that digital finance will not disappear—but it must be rooted in real, tangible value to be sustainable. The future, he argues, isn't crypto or gold. It may be a blend of both—with gold still setting the standard. Is gold really outperforming crypto in 2025? According to both the data and sentiment in 2025, yes — gold is having a stronger year than Bitcoin. Metric Gold Bitcoin / Crypto ETFs Central bank demand 1,000+ metric tons/year 0 official reserve adoption YTD 2025 price return +25% +14.5% Volatility Low (~1/3 of BTC volatility) Very high (tech-stock behavior) ETF inflows $45+ billion Slowing, uneven 2025 price target $3,675–$4,000 per ounce Uncertain, wide estimates Peter Schiff's recent statement that 'gold will leave crypto in the dust' may sound provocative, but it reflects growing concerns about the long-term viability of digital assets. With central banks accumulating gold, gold prices outperforming many crypto assets, and macroeconomic instability on the rise, Schiff's call to return to fundamentals is gaining traction. Whether or not you agree with his stance, his message is clear: in times of uncertainty, gold shines—and Schiff believes its luster will soon outshine crypto's digital dazzle. FAQs: Q1. Why does Peter Schiff believe gold will outperform crypto in 2025? Because gold is more stable, widely trusted, and backed by central banks, unlike volatile cryptocurrencies. Q2. What makes gold a better safe-haven asset than Bitcoin, according to Schiff? Gold performs better during crises and has real, long-term value—not just market hype.
Daily Mail
21-07-2025
- Politics
- Daily Mail
Trump demands senator's imprisonment, citing 'big trouble'
'Adam 'Shifty' Schiff is in BIG TROUBLE,' Trump said in a Truth Social post on Sunday night. 'He falsified loan documents.' Trump also went on to slam Schiff for orchestrating an 'American Tragedy' by investigating his son Donald Trump Jr.'s phone records in 2019 amid concerns about the origin of a meeting with Russians held in Trump Tower three years prior. 'He once said my son would go to prison on a SCAM that Schiff, along with other Crooked Dems, illegally 'manufactured' in order to stage an actual coup,' Trump wrote. 'My son did nothing wrong, knew nothing about the fictional story. It was an American Tragedy! 'Now Shifty should pay the price of prison for a real crime, not one made up by the corrupt accusers!' Schiff had threatened to subpoena Don Jr. to glean new details about two phone calls he made to blocked numbers after meeting with a Russian lawyer. At the time, Trump was under investigation for potentially colluding with the Kremlin. He also led the charge to impeach Trump in his role as chair of the House Intelligence Committee. Trump's latest round of attacks on Schiff are yet another example of the president seeking out anyone who has crossed him over the years. This includes New York Attorney General Letitia James who has found herself at the center of a DOJ investigation into her real estate transactions after bringing multiple cases against Trump. James has launched lawsuits against the president during both terms, including for alleged fraud. Since January 20 she has filed at least 15 actions. The Post reports that subpoenas were issued in Virginia concerning a mortgage application in which she affirmed that she intended to make a Norfolk home her primary residence. The outlet said it obtained records which showed the AG's signature granting a power of attorney to her niece to execute the purchase. 'This investigation into me is nothing more than retribution. It's baseless,' James said of the probe. Barbara McQuade, a former U.S. attorney for the Eastern District of Michigan told the publication it was 'awfully coincidental' that Trump's critics have been subjected to home loan investigations. 'You don't get a free pass because you're a public official,' McQuade said. 'But I think they've really undermined the credibility of the department by staking out this ground seeking retribution against Trump's enemies.' Trump said he wanted to see Schiff (pictured) 'brought to justice' through the investigation into his finances. But Schiff maintained his innocence and argued he was being persecuted by the Trump administration as political retribution for his involvement in opposing the family over the years. 'This is just Donald Trump's latest attempt at political retaliation against his perceived enemies,' Schiff wrote on X. 'So it is not a surprise, only how weak this false allegation turns out to be.' A spokesperson for his office insisted the lenders for both of his homes - one in Washington and another in California - were aware that he intended to use both year-round while serving in public office. He maintained neither home is considered a 'vacation' property. Appointing one home as a primary residence can allow a borrower to secure lower rates, because it is considered a less risky investment. Schiff took aim at the president during an appearance on Stephen Colbert's show telling him to '[expletive] off'. 'But before you [expletive] off, would you release the Epstein files?' Schiff asked, to rapturous applause. It is unclear how Trump became aware of Schiff's mortgages, or what involvement he has played in the investigation so far. According to The Washington Post, a confidential memo within Fannie Mae, the lender responsible for the questionable loans, said an investigation has been ongoing amid concerns Schiff 'engaged in a sustained pattern of possible occupancy misrepresentation on 5 Fannie Mae loans'. The internal memo states the company's financial crimes team received a document demand from the Federal Housing Finance Agency on May 12 relating to loan files.
Newsweek
21-07-2025
- Politics
- Newsweek
Donald Trump Calls for Senator To Be Jailed: 'Big Trouble'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump has escalated his attacks on Senator Adam Schiff, calling for the Democrat to go to prison for alleged mortgage fraud. In a Truth Social post on Sunday night, the president accused Schiff of falsifying loan documents, saying the senator was in "BIG TROUBLE" and should "pay the price of prison." Newsweek contacted Schiff for comment via contact form on his website on Monday. Why It Matters Trump and Schiff have had an adversarial relationship since the former's first presidency, and Schiff has remained a fierce critic of the president. While serving in the House of Representatives, Schiff took a leading role in inquiries into Russian interference in the 2016 election. He also played a key role in the president's first impeachment in 2019. Trump's call for Schiff to be imprisoned reflects a broader pattern of the president using his power and influence to target his political opponents, particularly those involved in past investigations against him. A composite image of President Donald Trump, left, departing the White House in Washington, D.C., on July 15 and Democratic Senator Adam Schiff of California at the U.S. Capitol on December 10, 2024. A composite image of President Donald Trump, left, departing the White House in Washington, D.C., on July 15 and Democratic Senator Adam Schiff of California at the U.S. Capitol on December 10, 2024. Anna Moneymaker/What To Know Trump ramped up his attacks on Schiff last week, alleging in a Truth Social post on July 15 that the Democrat had engaged in a "sustained pattern of possible Mortgage Fraud," which the president said had been uncovered by the Financial Crimes Division of the Federal National Mortgage Association, also known as Fannie Mae. The president accused Schiff of improperly declaring a house he owned in Maryland as his primary residence to get a lower mortgage rate. A spokesperson for Schiff told the Los Angeles Times that the senator followed legal advice and was transparent about living between his two homes, one in his home state of California and the other near where he works in Washington, D.C. A Fannie Mae memo reviewed by the outlet did not accuse Schiff of mortgage fraud or of any crimes, but it noted "a sustained pattern of possible occupancy misrepresentation" regarding which home he and his wife listed as their primary residence on mortgage documents. In a post on X, Schiff described Trump's accusations as a "baseless attempt at political retribution." He added in another post, "And much as Trump may hope, this smear will not distract from his Epstein files problem." The president has faced mounting criticism over his administration's failure to release records about child sex abuse linked to the late financier and former Trump acquaintance Jeffrey Epstein. In his Sunday Truth Social post, Trump also said Schiff had falsely accused his son Donald Trump Jr. of criminal activity during the Russia investigation, adding that Schiff should "pay the price of prison for a real crime, not one made up by the corrupt accusers." What People Are Saying President Donald Trump wrote on Truth Social on Sunday: "Adam 'Shifty' Schiff is in BIG TROUBLE! He falsified Loan Documents. He once said my son would go to prison on a SCAM that Schiff, along with other Crooked Dems, illegally 'manufactured' in order to stage an actual coup. My son did nothing wrong, knew nothing about the fictional story. It was an American Tragedy! Now Shifty should pay the price of prison for a real crime, not one made up by the corrupt accusers!" Senator Adam Schiff wrote on X on July 15: "Since I led his first impeachment, Trump has repeatedly called for me to be arrested for treason. So in a way, I guess this is a bit of a letdown. And this baseless attempt at political retribution won't stop me from holding him accountable." What Happens Next Schiff has not been formally charged with any wrongdoing, and experts say it seems unlikely that Trump's calls for prosecution will lead to formal legal action.
Time of India
18-07-2025
- Business
- Time of India
Mortgage fraud allegations: Trump accuses Senator Adam Schiff; lawmaker calls it president's act of 'political retaliation'
Adam Schiff (Image: US President Donald Trump on Tuesday accused Democratic Senator Adam Schiff of mortgage fraud alleging that he misrepresented his primary residence to secure more favourable loan terms. In a post on Truth Social, Trump said that the Federal National Mortgage Association's (Fannie Mae) financial crime unit uncovered a 'sustained pattern of possible mortgage fraud' by Schiff. . A senior administration official added that a decision on prosecution now lies with the justice department and warned, 'this is just the beginning, unfortunately,' for Schiff. Senator Schiff has denied the accusations and called them politically motivated. 'This is just Donald Trump's latest attempt at political retaliation against his perceived enemies,' Schiff posted on X. 'So it is not a surprise, only how weak this false allegation turns out to be.' Schiff's office clarified that lenders were informed of his regular use of both his California and Washington residences and neither was considered a vacation property. Public documents related to Schiff's mortgage and property in Montgomery County, Maryland shows Schiff designated one of his homes as a second residence in 2020, although earlier filings listed it as his primary home. A confidential memo from Fannie Mae, obtained by The Washington Post, claims that Senator Schiff gave incorrect information about how he used five properties when applying for home loans. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo According to the memo, one of the homes, a one-bedroom condo in Burbank, California was listed as his main residence, even though it did not seem suitable for a family of four. The memo also noted that all five loans have now been fully repaid. Barbara McQuade, a former US attorney, criticised Trump's accusations. She said that while mortgage fraud is commonly investigated, the recent focus on Trump's political opponents is concerning. McQuade asserted that being a public official doesn't exempt anyone from the law and by targeting critics of Trump, the administration risks damaging the justice department's credibility. This incident follows a similar investigation involving New York Attorney General Letitia James, a prominent critic of Trump. James, along with other Democratic state attorneys general, has filed several lawsuits against the Trump administration. Attorney General Pam Bondi on Tuesday said she had just learned of Trump's Truth Social post and could not confirm whether Schiff was subjected to a criminal investigation. Schiff had previously led Trump's impeachment proceedings while serving in the House
