07-14-2020  8:24 am   •   PDX and SEA Weather
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NORTHWEST NEWS

OSU, UO Among 20 Universities Filing Federal Lawsuit in Oregon Over International Student Order

The lawsuit, filed today, seeks to protect the educational status of nearly 3,500 students attending OSU

Governor Kate Brown Announces New Requirements for Face Coverings, Limits on Social Get-Togethers

Effective Wednesday, July 15, face coverings to be required outdoors, social get-togethers indoors over 10 prohibited

Oregon Reports 332 New Coronavirus Cases, 2 Deaths

Multnomah County Chair Deborah Kafoury, confirmed that Multnomah County is not ready to apply for Phase 2 of reopening

Study Finds Clothing-based Racist Stereotypes Persist Against Black Men

Researchers find some results of the study troubling

NEWS BRIEFS

NNPA Livestreams With Congresswomen Alexandria Ocasio Cortez and Val Demings

The audience has an opportunity to be an interactive part of the interview ...

Black Women Often Ignored By Social Justice Movements

‘Intersectional invisibility’ may lead to Black women’s exclusion, study finds ...

Deadline is July 15 to Pay Portland's $35 Arts Tax

The tax, approved by voters in 2012, supports arts education and grants ...

Oregon National Guard Completes Wildland Firefighter Training

The training was conducted using funds that were allocated to the Department of Defense by Congress to enable the National Guard to...

OSU Science Pub Focuses on Influence of Black Lives Matter

The influence of the Black Lives Matter movement will be the focus of a virtual Oregon State University Science Pub on July 13 ...

Wedge wolf pack attacks 7 cattle in northeast Washington

SALEM, Ore. (AP) — The Wedge wolf pack in northeast Washington has attacked seven more cattle, bringing the number of depredations by the pack to nearly a dozen since May 11.The Washington Department of Fish and Wildlife investigated and confirmed the depredations on Saturday at a private...

Seattle mayor, City Council at odds over 50% police cut

SEATTLE (AP) — Seattle Mayor Jenny Durkan on Monday blasted the City Council's plan to cut the police department's budget by 50% and instead proposed transferring a list of functions like the 911 call center and parking enforcement out of the agency's budget.“We need to invest in...

Iowa defensive back Jack Koerner hurt in jet ski accident

IOWA CITY, Iowa (AP) — Iowa defensive back Jack Koerner sustained serious injuries when he and a passenger on a jet ski collided with a boat on the Lake of the Ozarks in Missouri.According to a police report, Koerner and Cole Coffin were hurt at about 6:30 p.m. Friday when their watercraft...

Missouri football program pushes again for racial justice

COLUMBIA, Mo. (AP) — Ryan Walters had just arrived at the University of Missouri to coach safeties for the football program when a series of protests related to racial injustice led to the resignations of the system president and the chancellor of its flagship campus.The student-led movement...

OPINION

COMMENTARY: Real Table Talk

Chaplain Debbie Walker provides helpful insight for self-preservation, and care tips for your family, your neighbors, and your community circles ...

Commissioner Hardesty Responds To Federal Troop Actions Towards Protesters

This protester is still fighting for their life and I want to be clear: this should never have happened. ...

Recent Protests Show Need For More Government Collective Bargaining Transparency

Since taxpayers are ultimately responsible for funding government union contract agreements, they should be allowed to monitor the negotiation process ...

The Language of Vote Suppression

A specific kind of narrative framing is used to justify voter suppression methods and to cover up the racism that motivates their use. ...

AFRICAN AMERICANS IN THE NEWS

Ethiopia enters 3rd week of internet shutdown after unrest

JOHANNESBURG (AP) — Ethiopia is entering its third week without internet service for almost everyone after days of deadly unrest, as the government in Africa’s diplomatic and aviation hub says it’s trying to prevent speech that could further inflame ethnic tensions.The internet...

5 things to know today

Your daily look at late-breaking news, upcoming events and the stories that will be talked about today: 1. DEATH PENALTY GETS GREEN LIGHT The Trump administration was moving ahead early Tuesday with the execution of the first federal prison inmate in 17 years after a divided Supreme Court reversed...

Berkeley to consider removing police from traffic stops

SAN FRANCISCO (AP) — The politically liberal city of Berkeley in Northern California is considering a proposal to shift traffic enforcement from armed police to unarmed city workers in a bid to curb racial profiling and reduce law enforcement encounters that can turn deadly, especially for...

ENTERTAINMENT

4 charged in Los Angeles death of rising rapper Pop Smoke

LOS ANGELES (AP) — Two men and two teens have been charged in the death of rising rapper Pop Smoke, who was killed during a Los Angeles home-invasion robbery in February, the district attorney’s office said Monday. Los Angeles County District Attorney Jackie Lacey said in a statement...

Naya Rivera, who rose to fame on TV show 'Glee,' dies at 33

NEW YORK (AP) — Naya Rivera, a singer and actor who played a gay cheerleader on the hit TV musical comedy “Glee,” was found dead Monday in a Southern California lake. She was 33.Rivera's body was discovered five days after she disappeared on Lake Piru, where her son, Josey,...

Sheriff: 'Glee’ star Naya Rivera saved son before drowning

LOS ANGELES (AP) — “Glee” star Naya Rivera ’s 4-year-old son told investigators that his mother, whose body was found in a Southern California lake Monday, boosted him back on to the deck of their rented boat before he looked back and saw her disappearing under the...

U.S. & WORLD NEWS

Tom Bergeron, Erin Andrews exit 'Dancing With the Stars'

NEW YORK (AP) — The dance has ended for “Dancing With the Stars” hosts Tom Bergeron and Erin...

Vegas entertainers dance, train at home, awaiting the stage

LAS VEGAS (AP) — Concerts, acrobatic shows, striptease dance revues and other performances that typically...

UK to exclude Huawei from role in high-speed phone network

LONDON (AP) — Britain’s government on Tuesday backtracked on plans to give Chinese...

UK, France move to extend rules on face coverings in public

LONDON (AP) — Britain and France moved Tuesday to make face coverings compulsory in more places as both...

Catalan leader demands investigation into Spain spying claim

MADRID (AP) — The speaker of the Catalan regional parliament demanded Tuesday that the Spanish government...

Armenia-Azerbaijan border fighting escalates, 14 killed

YEREVAN, Armenia (AP) — Fighting between Armenian and Azerbaijani forces escalated Tuesday, with Azerbaijan...

McMenamins
Ben Rooney CNN Money

NEW YORK (CNNMoney) -- The World Gold Council had some words of advice for central banks around the world: It may be time to diversify away from the U.S. dollar.

While the dollar remains the world's main reserve currency, the WGC said in a research report that its "optimal" strategy would involve, what else, but gold.

Along with the dollar and the euro, gold is one of the traditional reserve assets that central banks hold.

But the WGC said central bankers should also consider a number of alternative assets, including those priced in the currencies of Canada, Australia and China.

Central banks in emerging markets have been diversifying away from the U.S. dollar for some time, as the outlook for the currency remains uncertain. According to the International Monetary Fund, the dollar's share of total central bank reserves has decreased to 54% from 62% over the past 12 years.

"This analysis looks at the optimal allocation for emerging market central banks as they continue to reduce their allocation to dollars and euros," said Ashish Bhatia, manager for government affairs at the World Gold Council.

In its study, the council assumes that central banks hold 65% of their reserves in dollars and euros, the second-largest reserve currency.

The remaining 35% is made up of a mix of assets, which traditionally has included investments priced in Japanese yen and the British pound, as well as gold.

Japanese government bonds and gold are both "practical and sound solutions for central banks," said Bhatia. But he said there is no clear evidence that central banks have increased their exposure to Japanese assets, "whereas they have been buying gold."

Beyond that, the council said assets priced in Australian and Canadian currencies are good candidates for central bank reserves. Unlike the United States and most euro area economies, both Canada and Australia still have AAA credit ratings.

The Chinese renminbi is another asset that central banks could add to their portfolios, said the WGC. Following years of robust growth, China supplanted Japan as the world's second largest economy in 2011.

"China's rise in the global economy has forced central banks to seriously consider renminbi denominated assets," said the council in its report.

However, the Chinese market remains difficult to access and there is "significant uncertainty" regarding Beijing's foreign exchange policies, noted the WGC.

In addition, the Canadian and Australian markets are comparatively small, said Bhatia.

The market for Australian assets, for example, is worth about $500 billion, he said. That compares with more than $2 trillion in assets held by central bank overall.

"The central banks could buy the entire market in a few days," said Bhatia.

 

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