Friday, February 7, 2025

The world’s second-largest gold storage suddenly has very long lines to withdraw bars

The Bank of England building in London, pictured in December 2024.

Dan Kitwood/Getty Images

LondonCNN —

President Donald Trump’s tariff threats have created such strong demand for UK-held gold, traders are facing potentially weeks-long queues for a chance to withdraw it.

All existing slots at the Bank of England to withdraw gold bars are booked up as market players race to ship the metal to the United States to take advantage of a surge in gold prices there, an official has said. Gold has become more valuable in the US than in other parts of the world as traders worry supply will plunge if Trump’s across-the-board tariffs, both announced and planned, make imports of the metal costlier.

“The US gold market has been trading at a premium to the London market,” Dave Ramsden, deputy governor for markets and banking at the central bank, told reporters Thursday. The owners of the gold bars in its underground vaults have been “looking to take advantage of that price differential,” he added.

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As a result, the Bank of England, which has the second-largest stock of gold in the world, has seen strong demand for gold withdrawals, he noted.

“All of those bodies who ship the gold, they’ve all got the … slots they need over the next few weeks. If you were coming in new to us, you might have to wait a bit longer because all the existing slots are booked up,” Ramsden said.

The Bank of England, which is second only to the New York Federal Reserve as a top global custodian of the precious metal, looks after more than 400,000 gold bars worth billions of pounds.

That haul has come under some pressure recently. Meanwhile, gold inventories on the US COMEX exchange — a major market for trading gold, silver and other metals — have almost doubled since the end of October, Commerzbank said in a note Friday.

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“The fact that gold is significantly more expensive on the COMEX than (in) other trading centers is likely related to the feared US import tariffs, which could possibly also affect gold,” wrote Carsten Fritsch, a commodity analyst at the German bank. “The deliveries on the COMEX are therefore likely to be primarily driven by concerns about possible supply disruptions.”

The Bank of England’s stock of gold has dipped by about 2% since the end of last year, Ramsden said.

Gold bars stored at the Bank of England, pictured in 2013.

Bank Of England/Shutterstock

Gold prices have risen in recent weeks thanks to the asset’s safe-haven status, with investors spooked by Trump’s tariff plans. Russia’s drawn-out war in Ukraine and heightened geopolitical tensions in the Middle East are also underpinning demand for the metal, according to UBS.

In addition to being a tangible, scarce asset, gold is different from other traded assets in other ways.

“Gold is a physical asset, so there are real logistical constraints and security constraints,” Ramsden said. “Getting into the (central) bank for me this morning was a bit trickier because there was a lorry in the bullion yard… And the stuff is also quite heavy.”

Lê Quang Quý Trang Đài, also known by the stage name Lynda Trang Đài, born October 9, 1968 in Đà Nẵng or Hương Thủy, Thừa Thiên^[a]^[1], is a Vietnamese American singer.^[2]^[3] She moved to Hong Kong and San Diego with family in 1978 before raised in Orange County, California. She has appeared in many of the Paris By Night shows of Thuy Nga Productions,^[4] for example Paris By Night 36, 59, 66, 93, 94 and 100. She is noted as one of the first more provocative Vietnamese-American performers.^[5] Her racy costumes and stage antics have earned her the title "the Vietnamese Madonna,"^[6] "well established but very controversial" (1999)^[7] "notoriously bold veteran" (2005).^[8] and so on.^[9]

Her stage name was derived from Lynda Carter. She married her labelmate, Tommy Ngô, in 1997 and adapted his family name. She is also the owner of a Bánh mì restaurant Lynda Sandwich, it was opened in the last day of 2010 on Beach Boulevard, Westminster, California

Lê = 35 = 8

Quang =16153 = 16 = 7

Quý = 161 = 8

Trang = 42153 = 15 = 6

Đài = 411 = 6

Cộng lại: 87866 = 35

Linda = 31541 = 14 = 5

Thursday, February 6, 2025

CNN

—

Kanye West is sharing some news about his health.

In a conversation on “The Download” podcast with Justin Laboy, West, who changed his name to Ye, said he was previously misdiagnosed with bipolar disorder.

“I went to this doctor … My wife took me to do that because she said, ‘Something about your personality doesn’t feel like it’s bipolar, I’ve seen bipolar before.’ And I’ve come to find that it’s really a case of autism that I have,” West said.

West said the diagnosis has helped him better understand himself.

“Autism takes you to a ‘Rain Man’ thing,” West said. “‘When people tell you to not do it, you just get on that one point. And that’s my problem.”

“When fans tell me to do my album a certain way, I’ll do it the opposite way,” he added.

West referenced his song “Can’t Tell Me Nothing” and people close to him.

“It’s so difficult for them, because this is like a grown man – you can’t take control of his bank account, you can’t control what I’m saying on Twitter,” West said.

West had previously recounted being diagnosed with bipolar disorder and described his experience with an involuntary psychiatric hold. In a 2019 conversation with David Letterman, he said he was choosing to speak about his diagnosis and how he managed it to end the “strong stigma” around mental health.

“People are allowed to say anything about it and discriminate in any way,” West said at the time.

“Autism spectrum disorder is a neurological and developmental disorder that affects how people interact with others, communicate, learn, and behave,” according to the National Institute of Mental Health. Autism is not considered a mental health disorder and be diagnosed at any age.

“I haven’t taken the medication since I found out that bipolar wasn’t the right diagnosis,” West said. “It’s finding stuff that doesn’t block the creativity, obviously that’s what I bring to the world. It’s worth the ramp-up, as long as y’all get the creativity.”

Tuesday, February 4, 2025

Democratic states weigh more support for immigrants as Trump administration cracks down

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Denver Mayor Mike Johnston is pushing back after the Justice Department ordered federal prosecutors to investigate state or local officials who they believe are interfering with the Trump administration’s crackdown on immigration. (AP video by Thomas Peipert)

BY DAVID A. LIEB

Updated 9:34 AM PST, January 25, 2025

As President Donald Trump tightens the nation’s immigration policies, lawmakers in Democratic-led states are proposing new measures that could erect legal obstacles for federal immigration officials and help immigrants lacking legal status avoid deportation.

The resistance efforts in California, New York and other states are a counterpoint to the many Republican-led states advancing measures to aid Trump’s crackdown on illegal immigration, highlighting a national divide.

In just his first week in office, Trump’s administration has halted refugee arrivals; fast-tracked deportations; sent military troops to the southern border; lifted longtime rules restricting immigration enforcement near schools, churches and hospitals; attempted to end birthright citizenship; and ordered federal prosecutors to investigate state or local officials who they believe are interfering with his crackdown on illegal immigration.

Hundreds of bills on immigration already have been introduced in states and more action is expected next week. Republican Govs. Ron DeSantis of Florida and Bill Lee of Tennessee have called special legislative sessions to begin Monday to support Trump’s immigration agenda.

Meanwhile, Democrats in states such as Connecticut, Hawaii, Massachusetts, New Mexico, Oregon and Washington are backing measures to expand health care and higher education for immigrants, restrict landlords from inquiring about immigration status or block government agreements to open new immigrant detention centers.

Many U.S. adults support stronger security at the southern border and deporting immigrants in the U.S. illegally who have been convicted of violent crimes, according to a survey by The Associated Press-NORC Center for Public Affairs Research. But some actions have less consensus. About 4 in 10 American adults support deporting all immigrants living in the U.S. illegally while a similar share are opposed.

Legal aid to fight deportation

Unlike in criminal courts, there is no constitutional right to a government-funded attorney in immigration courts. As Trump ramps up deportation efforts, some state measures would help pay for attorneys to defend people facing immigration proceedings.

One leader of such efforts is New York Assemblywoman Catalina Cruz, who came to the U.S. at age 9 from Colombia and remained without legal status for over a decade before gaining permanent residency and becoming a U.S. citizen and a lawyer.

Cruz has filed more than a half-dozen bills to aid immigrants. One would assert a right under state law to legal counsel in immigration proceedings in New York, or elsewhere if the immigrant was living in New York. Another would authorize state grants for organizations to hire, train and equip staff to provide legal aid to people facing deportation.

“In a world where the threat of mass deportations is imminent,” the legislation “gives people an opportunity to fight their case, to fight for their families, to fight for their rights,” Cruz said.

Cruz estimates 60% of the residents in her New York City legislative district are noncitizens, adding, “People are terrified.”

New York is among several states that already fund legal aid for immigrants. But advocates want about twice as much money as Democratic Gov. Kathy Hochul has proposed.

“This is a moment where investing in due process and fairness for immigrants at risk in New York is of fundamental importance,” said Shayna Kessler, director of a universal representation initiative at the nonprofit Vera Institute of Justice.

Help for immigrants seeking legal status

Some legislative proposals also would fund attorneys who could help immigrants obtain legal residency.

A bill by Oregon state Sen. Lisa Reynolds would require the state Department of Human Services to offer grants to nonprofits to help people who aren’t citizens change their immigration status or become lawful permanent residents. It would provide $6 million to launch the program during the budget biennium beginning in July.

“Oregon has had a very proud tradition of doing all we can to help those who have recently immigrated to our state from other countries, and especially those who have been political refugees,” Reynolds said. “We’re all feeling a little more urgency around this.”

Since 1987, Oregon law has barred law enforcement officers from “detecting or apprehending persons for the purpose of enforcing federal immigration laws.” Voters in 2018 defeated a ballot measure that would have repealed the so-called sanctuary law.

A shield for schools with immigrant students

Earlier this week, the Trump administration reversed guidance that for more than a decade had restricted federal agencies from carrying out immigration enforcement in sensitive locations, such as schools, churches and health care facilities. Some parents now fear immigration raids at schools.

In California, about 1 in 5 children live in families where at least one person does not have legal status, according to The Children’s Partnership, a Los Angeles-based nonprofit.

California Assemblymember Al Muratsuchi, chair of the chamber’s education committee, is sponsoring legislation that would make it more difficult for U.S. Immigration and Customs Enforcement officials to enter schools and child-care centers.

The bill would require federal officials to have a judicial warrant, written statement of purpose, valid identification and approval from a facility administrator. If those criteria are met, federal immigration officials still could only access areas where children aren’t present.

Muratsuchi said he started working on the legislation as soon as Trump was elected.

“This is a top priority to protect all of our students, including our immigrant students,” Muratsuchi said.