President Joe Biden committed “impeachable offenses” while in office, according to a hot-off-the-press report from the House GOP.

“President Biden’s legacy is marked by abuse of public office, corruption, and obstruction,” James Comer, House Committee on Oversight and Accountability Chairman, said in a press release. “The evidence produced by our impeachment inquiry is the strongest case for impeachment of a sitting president the House of Representatives has ever investigated.”

According to the report, Biden, his family, and associates engaged in “abuse of power, foreign entanglements, corruption, and obstruction of investigations into these matters,” including “influence peddling” that involved China and Russia. The report also alleged “funneling money through … third parties’ companies, using code names, and engaging in other obfuscatory tactics” to conceal wrongdoing.

Specific accusations against Biden that were highlighted in the report press release:

Receiving nearly $30 million from foreign individuals and entities;
Using the office of Vice President to ensure favorable business deals for Hunter Biden;
Leveraging political power to obtain unrepaid loans, suspected of being gifts;
Providing special treatment to Hunter Biden while he was under investigation, and misleading Congress about the investigation; and
Withholding documents and witnesses from the Committee’s impeachment inquiry.

“None of this would have come to light had it not been for the two IRS whistleblowers who were tired of watching their investigation into the President’s son become obstructed,” said Jason Smith, R-MO, referencing an IRS employee and his supervisor who alleged irregularities in Hunter Biden’s investigation. “Their testimony in the face of political interference has stood up under scrutiny at every step.”

The report does not explicitly recommend impeachment, and no formal proceedings have been opened against the president. Instead, authors stated that fact-finding is “ongoing” and have encouraged the House of Representatives to evaluate “appropriate next steps.”

Many Democrats have interpreted the report’s open-ended conclusion as a sign that the GOP is abandoning its attempts to oust the sitting president. They pointed to a statement from Speaker Mike Johnson, who encouraged citizens to review the report but did not indicate a plan to take action.

“After wasting two years and millions of taxpayer dollars, House Republicans have finally given up on their wild goose chase,” said White House spokesperson Sharon Yang. “This failed stunt will only be remembered for how it became an embarrassment ….”

One anonymous GOP official agreed, rejecting the idea of a formal impeachment procedure.

“We don’t have the votes. We won’t have the votes. It’s math,” the GOP source told Politco. “The report is going to be the end of it.”

Even if the report does not result in impeachment proceedings, it’s a serious blow to the Democratic Party, especially as it comes right before Biden’s key speech at the DNC. It’s also a serious blow to public opinion and trust, one that casts a shadow over the upcoming election season and raises the stakes for many voters.

Such doubts, coupled with expectations of a rate cut and further destabilization of international politics, have resulted in a gold rush. Spot prices for the precious metal hit another all-time high well above the $2,500 benchmark and even crossed last week’s all-time high, propelling the value of an average-sized gold bar (400 troy oz) up to $1,000,000 apiece. Investors are hungry for more, with analysts forecasting a price rise above a brand-new $2,600 benchmark.

“The [upward] trend is going to accelerate,” Peter Schiff said in a podcast episode on the newly minted “Kamalanomics.” “If you don’t buy at $2500 because you’re waiting for $2400 … the next thing you know, we’re at $5,000 … Just buy it now … It’s a lot cheaper than buying it a lot higher.”

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