News

California lawmakers push for stricter legislation on art stolen by Nazis.

urlhttps3A2F2Fcalifornia times brightspot.s3.amazonaws.com2F172F672Ff654006a4b6b9e9a8e34148edd9d2Fspain us stolen painting 97813

California lawmakers are working to strengthen laws surrounding Nazi-looted art, aiming to provide justice for Holocaust survivors, their heirs, and other victims of political persecution. The bill, set to be introduced on Thursday, is inspired by a recent decision from the U.S. 9th Circuit Court of Appeals, which ruled against returning an Impressionist masterpiece looted by the Nazis to a Jewish family in the U.S.

Assemblyman Jesse Gabriel, a lead sponsor of the bill, emphasized the need to correct historical injustices and prevent future occurrences of such disputes. The proposed legislation aims to provide better legal outcomes for families in California who have been victims of politically motivated theft, whether in the past, present, or future.

The bill has already garnered bipartisan support and is part of a longstanding legal battle over the Camille Pissarro masterpiece “Rue Saint-Honoré in the Afternoon. Effect of Rain.” The painting, stolen from a Jewish woman by the Nazis in 1939, has been at the center of a legal dispute for over two decades.

The family of the original owner, Lilly Cassirer Neubauer, has been fighting for the painting’s return, arguing that it was stolen under duress as part of a Nazi program to confiscate Jewish wealth. Despite legal arguments from the Thyssen-Bornemisza National Museum in Madrid, which claims ownership under Spanish law, the family continues to seek justice.

Over the years, the case has progressed through U.S. courts, with multiple rulings and appeals shaping the legal landscape surrounding looted art claims. The U.S. Supreme Court previously ruled in favor of the Cassirer family, determining that California law should be used to assess the legitimacy of their claim.

Check Out Also: Pandas from China to be sent to San Diego Zoo for the first time in years

The proposed legislation seeks to clarify that under California law, property looted or stolen as a result of political persecution should be returned to the rightful owners. The bill would apply to ongoing legal cases and appeals, ensuring that justice prevails in disputes involving Nazi-looted art.

Assemblyman Gabriel’s initiative has garnered support from lawmakers across the political spectrum, with a focus on morality and justice in addressing historical wrongs. The bill aims to rectify past injustices and ensure that victims of Nazi persecution and their heirs have a pathway to reclaim stolen property.

As the legislative process unfolds, the Cassirer family’s fight for justice continues, underscoring the importance of strong legal frameworks to address historical wrongs and provide closure for victims of Nazi crimes. The proposed bill represents a significant step towards accountability and restitution for those affected by Nazi looting and political persecution.

Intellectuals Insider

+ posts

Check Out Also: Pentagon Report Confirms No UFO Cover-Up, Yet Debate Persists

News

Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

Getty Images/iStockphoto

The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.

This lull in gold’s price may represent an investment opportunity.

In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?

Compare your gold investment options among leading brokers now.

Gold prices have cooled. Should you buy in now?

With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:

Prices may rise again

If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.

But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.

Add gold to your portfolio now before prices have a chance to rise.

You may be able to make a quick profit

Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.

Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.

There are other benefits of investing in gold

There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:

Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.

The bottom line

Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.