10-19-2019  10:38 pm   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

Washington State to Vote on Affirmative Action Referendum

More than two decades after voters banned affirmative action, the question of whether one's minority status should be considered in state employment, contracting, colleges admissions is back on the ballot

Merkley Introduces Legislation that Protects Access to Health Care for Those Who Cannot Afford Bail

Under current law, individuals in custody who have not been convicted of a crime are denied Medicare, Medicaid, and veterans’ benefits

New County Hire Aims to Build Trust, Transparency Between Community and Public Safety Officials

Leneice Rice will serve as a liaison focused on documenting and reporting feedback from a community whose faith in law enforcement has been tested

Hank Willis Thomas Exhibit Opens at Portland Art Museum

One of the most important conceptual artists of our time, his works examine the representation of race and the politics of visual culture

NEWS BRIEFS

GFO Offers African Americans Help in Solving Family Mysteries

The Genealogical Forum of Oregon is holding an African American Special Interest Group Saturday, Oct. 19 ...

Third Annual NAMC-WA Gala Features Leader on Minority Business Development

The topic of the Washington Chapter of the National Association of Minority Contractors' event was 'Community and Collaboration' ...

Building Bridges Event Aims to Strengthen Trust Between Communities

The 4th Annual Building Bridges of Understanding in Our Communities: Confronting Hate will be held in Tigard on...

The Black Man Project Kicks Off National Tour in Seattle

The first in a series of interactive conversations focused on Black men and vulnerability takes place in Seattle on October 25 ...

Protesters Rally in Ashland to Demand 'Impeach Trump Now'

Activists are rallying in Ashland Sunday Oct, 13 to demand impeachment proceedings ...

Video shows coach disarming, embracing Oregon student

PORTLAND, Ore. (AP) — Authorities have released a video that shows part of a former Oregon football star's successful effort to disarm a student who brought a shotgun to a Portland high school.The video released Friday by the Multnomah County District Attorney's Office shows Keanon Lowe and...

Parents guilty of starving 5-year-old daughter to death

BEND, Ore. (AP) — A jury has convicted a Redmond couple of starving their 5-year-old adopted daughter to death.The Bulletin reports by unanimous jury verdicts Friday after a weekslong trial, Sacora Horn-Garcia and Estevan Garcia were found guilty of murder by abuse and criminal...

Vaughn scores twice, Vandy upsets No. 22 Missouri 21-14

NASHVILLE, Tenn. (AP) — Derek Mason wants it known he's the best coach for the Vanderbilt Commodores.Riley Neal came off the bench and threw a 21-yard touchdown to Cam Johnson with 8:57 left, and Vanderbilt upset No. 22 Missouri 21-14 on Saturday with a stifling defensive...

No. 22 Missouri heads to Vandy, 1st road trip since opener

NASHVILLE, Tenn. (AP) — Missouri coach Barry Odom knows only too well the dangers of going on the road and how a few mistakes can prove very costly.While some of his players my not remember that stunning loss at Wyoming to open this season, Odom hasn't forgotten."We're going to treat it just...

OPINION

Atatiana Jefferson, Killed by Police Officer in Her Own Home

Atatiana Jefferson, a biology graduate who worked in the pharmaceutical industry and was contemplating becoming a doctor, lived a life of purpose that mattered ...

“Hell No!” That Is My Message to Those Who Would Divide Us 

Upon release from the South African jail, Nelson Mandela told UAW Local 600 members “It is you who have made the United States of America a superpower, a leader of the world" ...

Rep. Janelle Bynum Issues Response to the Latest Statement from Clackamas Town Center

State legislator questions official response after daughter questioned for ‘loitering’ in parking lot ...

Why Would HUD Gut Its Own Disparate Impact Rule?

"You can’t expand housing rights by limiting civil protections. The ’D’ in HUD doesn’t stand for ‘Discrimination’" ...

AFRICAN AMERICANS IN THE NEWS

New Emmett Till marker dedicated to replace vandalized sign

GLENDORA, Miss. (AP) — A new bulletproof memorial to Emmett Till was dedicated Saturday in Mississippi after previous historical markers were repeatedly vandalized.The brutal slaying of the 14-year-old black teenager helped spur the civil rights movement more than 60 years ago.The...

Parents sue Virginia school district over racist 2017 video

HENRICO, Va. (AP) — The parents of a Virginia student who say their son was assaulted and bullied by his middle school football teammates in an incident captured on video two years ago are suing the school system.The video, which showed football players simulating sex acts on black students...

Team abandons FA Cup qualifier after racial abuse

LONDON (AP) — An FA Cup qualifier between Haringey Borough and Yeovil was abandoned Saturday when the home team walked off the field after one of its players was racially abused.Haringey, a London-based non-league club, walked off in the 64th minute after claims its Cameroonian goalkeeper...

ENTERTAINMENT

Adam Lambert: Happy to see more LGBTQ artists find success

NEW YORK (AP) — Adam Lambert, who rose on the music scene as the runner-up on "America Idol" in 2009, says he's happy to see more mainstream LGBTQ artists find major success."I think it's less taboo to be queer in the music industry now because there's so many cases you can point to like,...

Jane Fonda returns to civil disobedience for climate change

WASHINGTON (AP) — Inspired by the climate activism of a Swedish teenager, Jane Fonda says she's returning to civil disobedience nearly a half-century after she was last arrested at a protest.Fonda, known for her opposition to the Vietnam War, was one of 17 climate protesters arrested Friday...

Naomi Wolf and publisher part ways amid delay of new book

NEW YORK (AP) — Naomi Wolf and her U.S. publisher have split up amid a dispute over her latest book, "Outrages."Wolf and Houghton Mifflin Harcourt announced separately Friday that they had "mutually and amicably agreed to part company" and that Houghton would not be releasing "Outrages."...

U.S. & WORLD NEWS

Altuve's HR in 9th sends Astros to World Series over Yankees

HOUSTON (AP) — Jose Altuve, the 5-foot-6 driving force of Houston, delivered a swing that will play in...

In many parts of Mexico, government ceded battle to cartels

EL AGUAJE, Mexico (AP) — The Mexican city of Culiacan lived under drug cartel terror for 12 hours as gang...

Impeachment inquiry puts spotlight on Perry, who shunned it

WASHINGTON (AP) — Long after more flamboyant colleagues flamed out of President Donald Trump's favor amid...

The Latest: Syria Kurds say they will withdraw from border

BEIRUT (AP) — The Latest on Turkey's invasion of northern Syria (all times local):11:15 p.m.A senior Syrian...

South Sudan opposition leader returns to meet with president

JUBA, South Sudan (AP) — South Sudan opposition leader Riek Machar returned to the country Saturday to meet...

Ethiopia's Nobel-winning leader launches million-copy book

ADDIS ABABA, Ethiopia (AP) — Ethiopia's Nobel Peace Prize-winning prime minister is launching a book of his...

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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