News
City Council Member Resigns after Being Caught Urinating on Bar Door
A councilman who was caught urinating outside a bar in downtown Los Angeles has resigned from his post. Crescenta Valley Town Councilmember Chris Kilpatrick stepped down after surveillance video showed him and another man relieving themselves at the employee entrance to Precinct, an LGBTQ+ bar on South Broadway, in the early hours of Saturday morning. The video, which was posted on the bar’s Instagram account, captured Kilpatrick and his boyfriend urinating on a set of glass doors after leaving the bar with cocktail glasses in hand.
In the video, an employee can be seen approaching the men and attempting to take away their drinks. Kilpatrick, who was identified as the taller man in the video, allegedly pushed the employee to the ground when they tried to intervene. The Instagram post from the bar emphasized that Precinct is a safe space for everyone and urged patrons to be respectful, reminding them that there are multiple bathrooms available on the premises.
Kilpatrick’s attorney, John Duran, claimed that the bar employees approached Kilpatrick and his boyfriend aggressively without identifying themselves, leading Kilpatrick to push back in self-defense. Duran suggested that Kilpatrick feared a potential homophobic attack from the employees, who were not in uniform.
Duran, who previously served on the West Hollywood City Council before his unsuccessful bid for reelection in 2020, has faced his share of controversies in office. In 2016, the city paid $500,000 to settle a sexual harassment lawsuit against him, and allegations in 2019 resulted in protests calling for his resignation.
Although Kilpatrick was not explicitly named in the Instagram post, commenters pointed out the similarities between the man in the video and Kilpatrick, who was elected to the Crescenta Valley Town Council in 2020. The town council, which represents several cities in the area, serves as an advisory body advocating for the interests of residents.
Upon learning about the surveillance footage, council members requested a statement from Kilpatrick, who had already hired an attorney by that time. A special meeting was planned to address the issue, but Kilpatrick preemptively expressed his intention to resign from the council. The council accepted his resignation immediately.
While condemning the behavior shown in the video, the council acknowledged Kilpatrick’s years of service and dedication to the community. Duran maintained that public urination is not a criminal offense and argued that the employee’s actions constituted battery, a misdemeanor offense.
As of now, it remains unclear if the bar employee sustained any injuries during the altercation.
News
Is now the right time to invest in gold as prices have cooled?
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.
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