12-13-2019  2:42 am   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

PHOTOS: Black Santa Visits Northwest African American Museum

The Skanner's Seattle photographer Susan Fried was on hand to snap some photos

English Language Learners' Success Translates Into a $25,000 Milken Educator Award for Teacher Julie Rowell

Oregon educator boosts student achievement and future prospects at Gresham High School

Portland Resident Hoping to Donate Kidney to Black Recipient

Fewer Black patients receive live kidney donations

Puget Soundkeeper and Waste Action Project Send Notice of Intent to Sue to Ardagh Glass

Violations listed include illegal discharges into the Duwamish River, failure to collect stormwater samples and failure to install required treatment systems

NEWS BRIEFS

Friends of the Children Chapter Coming to Tacoma, Executive Director Announced

Organization empowers youth facing the greatest obstacles through the long-term support of professional mentors ...

Oregon Humane Society Celebrates the Adoption of the 11,000th Pet of 2019

Max, a two-year-old Labrador/Weimaraner mix, is going to a new home with the Dunlap family of Damascus ...

EPA Approves Funding for Oregon and Washington to Improve Drinking Water, Wastewater Infrastructure

States estimate $190 million for wastewater, $35 million for drinking water projects in Oregon, and $120 million for...

Conservation Breakthrough for Endangered Butterfly

The Oregon Zoo's breeding success provides new hope in an effort to save Oregon silverspots ...

Meet 80 Local Authors at OHS 52nd Holiday Cheer Book Sale and Signing

This free Oregon Historical Society event will be held this Sunday, December 8 from 12 p.m. – 4 p.m. ...

'Shop early': US Christmas trees supplies tight, prices up

CHARLESTON, W.Va. (AP) — Customers searching for the perfect Christmas tree typically glance at Sandy Parsons’ limited offerings, then keep walking.Parsons never got her order for 350 trees from a North Carolina farm. Supplies were short, she was told. Instead, she was shipped some...

Dozens out sick at Vancouver schools, Seattle school closed

VANCOUVER, Wash. (AP) — Dozens of students are out sick at several Vancouver Public Schools elementary schools, prompting cleaning, disinfecting and a letter to parents warning them of the symptoms of the stomach flu.The Columbian reports at Harry S. Truman Elementary School, 72 of the...

New Missouri coach Eli Drinkwitz predicts success

COLUMBIA, Mo. (AP) — Eli Drinkwitz was saying all the right things after being introduced as the new football coach at Missouri, laying out his vision for the once-proud program with unwavering confidence and bold proclamations.Then the former Appalachian State coach made a minor...

LSU's Burrow, Auburn's Brown named AP SEC players of year

LSU quarterback Joe Burrow is a unanimous selection as the offensive player of the year on The Associated Press All-Southeastern Conference football team.The top-ranked Tigers also have the SEC’s coach of the year in Ed Orgeron and the newcomer of the year in freshman cornerback Derek...

OPINION

Will You Answer the Call for Moral Revival?

In embracing and expanding the legacy of Dr. Martin Luther King, Jr., Revs. Barber and Theoharis have asked Presidential candidates to consider a debate that focuses exclusively on poverty ...

What I’m Thankful For This Season

Ray Curry gives thanks for a human right that shaped our country throughout the 20th century and that made Thanksgiving possible for so many Americans who, like him, didn’t get here by way of the Mayflower ...

Congressional Black Caucus Members Visit U.S.-Mexico Border: “Mistreatment of Black Immigrants is Another ‘Stain on America’”

Members said they witnessed first-hand the deplorable treatment and plight of Black immigrants ...

Portland, I'm Ready

Last month I had the privilege to stand with hundreds of supporters and announce my intention to run for re-election ...

AFRICAN AMERICANS IN THE NEWS

Anti-Semitism order raises tough issue of defining prejudice

NEW YORK (AP) — President Donald Trump’s order to expand the scope of potential anti-Semitism complaints on college campuses is raising the stakes of an already tense battle over how to define discrimination against Jews.The executive order Trump signed on Wednesday tells the...

New Jersey attackers linked to anti-Semitic fringe movement

The deadly shooting rampage at a New Jersey kosher market has cast a spotlight on a fringe movement known for its anti-Semitic strain of street preaching and its role in a viral-video confrontation at the Lincoln Memorial this year.Investigators believe that the man and woman who killed three...

Man convicted in 2017 Charlottesville car attack to appeal

CHARLOTTESVILLE, Va. (AP) — An Ohio man plans to appeal his convictions for driving his car into a crowd of counterprotestors during a 2017 white nationalist rally in Virginia.The Daily Progress, citing online court records, reports that a lawyer for James Alex Fields Jr. filed a notice of...

ENTERTAINMENT

Weinstein lawyer says 98% of creditors agreeing to settle

NEW YORK (AP) — Ninety-eight percent of The Weinstein Co.'s creditors are joining a tentative settlement that plaintiffs say includes million for over two dozen actresses and former employees who claim Harvey Weinstein sexually harassed them, a lawyer said Thursday.The attorney, Karen...

Review: In Malick's 'A Hidden Life,' a hymn of defiance

Terrence Malick’s “A Hidden Life” resides above the clouds in a small Alpine hamlet.Franz Jägerstätter lives there, in Austria, with his wife, Franziska, and their young daughters. They spend their days working and playing in the hillside fields, enraptured by their...

Wilde defends 'Jewell' reporter over sex-for-tips claims

NEW YORK (AP) — Olivia Wilde said Thursday she does not believe the real-life journalist she plays in the new film “Richard Jewel” “traded sex for tips" despite that insinuation in the movie. In a series of tweets, Wilde called late Atlanta Journal-Constitution reporter...

U.S. & WORLD NEWS

'Shop early': US Christmas trees supplies tight, prices up

CHARLESTON, W.Va. (AP) — Customers searching for the perfect Christmas tree typically glance at Sandy...

Tokyo being billed as 'Recovery Olympics' -- but not for all

FUTABA, Japan (AP) — The torch relay for the Tokyo Olympics will kick off in Fukushima, the northern...

"Nuts!" US troops thwarted Hitler's last gamble 75 years ago

BASTOGNE, Belgium (AP) — Pvt. Arthur Jacobson was seeking cover in the snow behind a tank moving slowly...

Myanmar's Suu Kyi's defense of army puzzles former admirers

BANGKOK (AP) — What drives Aung San Suu Kyi, the leader of Myanmar who this week defended her country at...

EU leaders break stalemate over climate target, claim deal

BRUSSELS (AP) — EU leaders broke a deadlock early Friday and claimed a deal over a key climate target by...

"Nuts!" US troops thwarted Hitler's last gamble 75 years ago

BASTOGNE, Belgium (AP) — Pvt. Arthur Jacobson was seeking cover in the snow behind a tank moving slowly...

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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