After redesigning the Oval Office with gold accents, including elaborate details on the fireplace and walls, former President Trump shared a video showcasing the opulent decorations. He claimed that visiting leaders are often impressed by the quality and beauty of the gold. The post sparked immediate criticism, with many users on social media labeling it out of touch given the ongoing economic struggles faced by Americans. Critics highlighted the contrast between the lavish décor and the increasing costs of groceries, along with broader financial concerns like healthcare and national debt.
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The State Secretariat for Economic Affairs (Seco) is investigating Open Mineral, a commodities trader based in Baar, Switzerland, for potential violations of sanctions against Russia. The investigation concerns the alleged trading of gold from Russia, which would be a breach of sanctions implemented after the invasion of Ukraine. Open Mineral confirmed it is cooperating with authorities after a search of its premises last week. Seco confirmed the September 11th search in the canton of Zug and stated that the proceedings target two individuals and unknown persons.
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Central banks globally now hold more gold than US Treasuries, a shift not seen since 1996, signaling a significant global rebalancing. This surge in gold holdings is driven by substantial purchases in recent years, with record-breaking acquisitions in 2024, significantly outpacing previous decades. Gold has become the second most significant foreign exchange reserve asset, surpassing the euro. Despite a recent easing in buying activity, central banks still plan to increase their gold reserves, likely due to concerns about the US dollar’s dominance as the global reserve currency.
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During a recent Oval Office visit, President Trump requested to keep the FIFA World Cup trophy after holding it, but was denied by FIFA President Gianni Infantino, who explained it was for the upcoming tournament winners. However, Trump did keep the FIFA Club World Cup trophy from this summer’s tournament and had a replica sent to the winners. The meeting also highlighted Trump’s extensive gold-themed renovation of the Oval Office, which he described as a necessary change to the space.
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James Harrison, an Australian man known as the “man with the golden arm,” passed away peacefully at 88. His incredibly rare blood antibody, Anti-D, was instrumental in creating a medication that saved over 2.4 million babies from a deadly blood disorder. Harrison began donating blood plasma at 18, continuing this life-saving act bi-weekly for over six decades. His selfless contributions leave a profound legacy, impacting countless families.
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John Q. Hosedrinker