News
Bay Area Cities To Lose ALL Housing Zoning Powers in 2 Days
An old law may eliminate the housing-related zoning ordinances of the vast majority of cities throughout the Bay Area. Yes, seriously. It’ll occur this Wednesday, too. Developers will be allowed to propose housing (and only housing) at any height and any density in a city, so long as at least 20% of the homes in the proposed building are deed-restricted to low income residents who make at or less than 80% the area median income. Alternatively, 100% affordable to moderate income residents where rents don’t exceed 120% area median income.
The biggest misconception with regard to gold
Every gramme of gold that is held for a variety of reasons is for sale at a certain price. Many owners would sell at a price slightly above spot, others would only sell at a substantially higher price. If, due to favourable prices, a private individual wants to sell his gold holdings that he acquired decades ago, it will not reduce the overall supply of gold. All that happens is the transfer from one private portfolio to another private portfolio. To the buyer, it makes no difference whether the gold was produced three weeks or three millennia ago.
Planned New FBI HQ Is Twice the Size of the Pentagon
The federal government is proceeding with plans to build a new FBI headquarters complex twice the size of the Pentagon building. Riveted into the colossal new project are woke regulations to ensure that the FBI center will comply with diversity, equity, LGBTQ+, and climate change political goals. The plan, unveiled last September, has received little attention. For years the FBI has sought to vacate its present headquarters, a brutalist concrete bunker on stilts and occupying two city blocks between the White House and the Capitol.
Central banks bought the most gold since 1967 last year, WGC says
LONDON, Jan 31 (Reuters) - Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, the World Gold Council (WGC) said on Tuesday. The data underline a shift in attitudes to gold since the 1990s and 2000s, when central banks, particularly those in Western Europe that own a lot of bullion, sold hundreds of tonnes a year. Since the financial crisis of 2008-09, European banks stopped selling and a growing number of emerging economies such as Russia, Turkey and India have bought.
From Joe
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