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Neo-Nazi rally in downtown Nashville condemned by state lawmakers
A neo-Nazi rally in downtown Nashville over the weekend is being condemned by a local Jewish group and by state lawmakers.
Witness videos posted on social media over the weekend showed a small group of people, wearing red shirts and black masks, giving Nazi salutes and carrying a black swastika flag as they marched through downtown streets in broad daylight. Clips showed the marchers passing through Broadway, the city’s bustling music row, and by the state capitol, chanting “Sieg Heil” and calling for deportations.
A man posted a two-minute video of himself following and confronting the group, calling them “cowards” for not showing their faces.
The videos showed the marchers’ clothing bearing the phrase “Blood Tribe,” which the Anti-Defamation League identifies as “a growing neo-Nazi group” officially founded in 2021 that does not allow female members and “presents itself as a hardcore white supremacist group and rejects white supremacists who call for softer ‘optics.'” The ADL reported that Blood Tribe held marches in Florida, Ohio and Wisconsin in 2023.
State Rep. Justin Jones, a Democrat representing part of Nashville, shared a video of himself standing near the marchers as they passed by, and said he saw them after leaving an event honoring a Black sorority. Jones held a rally on Monday at the state capitol with religious leaders and activists, denouncing the display that he said was “meant to intimidate our community.”
Just left an event honoring a Black sorority and spoke of the need to unite against the rising tide of white supremacy, only to be confronted by Nazis marching through downtown Nashville.
This is exactly what my Republican colleagues hate speech is fostering and inviting. pic.twitter.com/ZaK5kUQDYP
— Rep. Justin Jones (@brotherjones_) February 17, 2024
State Rep. Justin Pearson, a Democrat representing parts of Memphis, posted a video driving by the group as they held up Nazi flags.
Jones and Pearson were both expelled from Tennessee’s Republican-led House last year after leading protests on the House floor, as hundreds of demonstrators at the capitol called for tighter gun control laws after the mass shooting at a private religious school in Nashville. Both lawmakers were reinstated just days later. In their posts about the Nazi rally, Jones and Pearson both accused their Republican colleagues of fostering an environment that led to the march.
Lawmakers from both parties have issued statements condemning the rally, including Gov. Bill Lee, a Republican, who said, “Nazism and antisemitism should never be tolerated in any form.” House Majority Leader Rep. William Lamberth, also a Republican, filed a resolution on Tuesday “commending Tennesseans for their opposition to and condemnation of neo-Nazism.”
The Jewish Federation of Greater Nashville called the demonstrators “cowardly” and said it has been in contact with law enforcement, according to CBS Nashville affiliate WTVF.
No arrests were reported from the march. Nashville police did not immediately return a request for comment from CBS News.
A person in Louisiana has the first severe illness caused by bird flu in the U.S., the Centers for Disease Control and Prevention announced Wednesday.
Officials determined the patient had exposure to sick and dead birds in backyard flocks, though an investigation into the source of the infection in the state is ongoing. This is also the first case of H5N1 bird flu in the U.S. that has been linked to exposure to a backyard flock, a news release noted. Officials have not shared details on the patient’s symptoms.
The case was first confirmed by health officials Friday, adding to the total of 61 reported human cases of H5 bird flu reported in the United States. Another severe case of H5N1 has been reported in a teen in British Columbia.
A release from the Louisiana Department of Health Wednesday added the patient, a resident of southwestern Louisiana, is currently hospitalized. Until now, the H5N1 cases in the U.S. have been mild, including conjunctivitis and upper respiratory symptoms.
“While the current public health risk for the general public is low, people who work with birds, poultry or cows, or have recreational exposure to them, are at higher risk,” the state’s health department added.
Mild illnesses have been seen in dairy and poultry workers who had close contact with infected animals. In two cases, no known source of the illnesses have been identified, which has worried infectious disease experts about the possibility of human-to-human transmission, which could trigger a pandemic.
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Gold has long served as a safe-haven asset for investors during times of economic uncertainty and market volatility, which is a large part of why it has been so popular over the past year. Thanks to that uptick in gold interest, the price of gold has been climbing throughout much of 2024 — hitting multiple record highs and surpassing $2,700 per ounce at one point late in the year. That price trend has been shifting lately, though, and over the last few weeks, there have been significant fluctuations in gold prices, with the price of gold dropping over the last few days in particular.
With gold’s price currently sitting at under $2,650 per ounce, today’s lower price is prompting many investors to reassess their positions in gold-related investments — including gold exchange-traded funds (ETFs). These investment vehicles, which track the price of gold without requiring physical ownership of the precious metal, have become increasingly popular among retail and institutional investors alike. Much of the appeal of gold ETFs lies in their simplicity and accessibility. Unlike physical gold, these funds can be easily bought and sold through standard brokerage accounts, offering investors a convenient way to gain exposure to gold price movements.
But while the current price dip could present a good opportunity to buy into gold at a discount, it makes sense to remain cautious about any type of investment right now. So is investing in gold ETFs still a good strategy now that the price of gold is slipping?
Find out how to add gold to your portfolio today.
Are gold ETFs a good investment now that the price is dropping?
When gold prices drop, it can create opportunities for investors to buy at a lower cost, potentially increasing their returns if prices rebound. Gold ETFs provide an easy way to capitalize on this strategy. Unlike physical gold, ETFs can be traded on stock exchanges just like equities, offering liquidity and convenience. They also eliminate the need for storage and security concerns associated with owning physical gold.
There are also a few other reasons to consider investing in gold ETFs despite the current price drops. For starters, gold ETFs offer an efficient way to implement dollar-cost averaging during price dips. By regularly investing fixed amounts, investors can potentially lower their average purchase price over time. This strategy can be particularly effective during periods of price volatility, allowing investors to accumulate positions at various price points.
And while gold prices may be dipping now, it’s unlikely that today’s lower prices will remain the status quo over the longer term. Gold prices have historically rebounded and grown over longer time horizons, so while the current price may be lower than it was a few weeks ago, it could represent a good entry point for long-term investors. That’s particularly true if the fundamental factors supporting gold prices remain intact, such as inflation concerns, currency devaluation risks and global economic uncertainties.
However, investors should consider that there are risks to investing in gold ETFs. One issue is that gold ETFs are subject to market volatility and may not provide immediate returns — so it’s important to make any investing decision based on your unique investment goals and strategy. Gold also generates no income or dividends, making it a pure price appreciation play. The opportunity cost of holding gold ETFs also becomes more significant in high-rate environments where yield-generating investments become more attractive.
Diversify your investments by adding gold to your portfolio now.
Who should invest in gold ETFs now?
While investing in gold ETFs may not make sense for all investors right now, it could be particularly suitable for certain types. For example, investors who need to diversify their portfolios may find gold ETFs attractive, as gold has historically shown a low correlation with traditional asset classes like stocks and bonds. So, the current price drop could present an opportunity to achieve portfolio diversification at more favorable prices.
Risk-conscious investors who are looking to hedge against inflation, currency risks or geopolitical uncertainties might also want to consider adding gold ETF exposure. After all, with the uptick in inflation over the last few months, gold’s historical role as a store of value remains relevant right now, despite the potential for short-term price volatility. Long-term investors might also find current prices attractive in terms of building strategic positions.
However, short-term traders and income-focused investors may want to exercise caution when it comes to gold ETFs. Gold’s price volatility can make short-term trading challenging, while the lack of yield may not align with income-oriented investment objectives.
The bottom line
The current drop in gold prices presents an intriguing opportunity for investors who are interested in gold ETFs, but it’s essential to weigh the potential risks and rewards of this type of gold investing carefully. Gold ETFs offer a convenient and liquid way to gain exposure to gold, making them a viable option for many investors, but they are just one of several ways to invest in this precious metal. Whether or not gold ETFs are the right choice for you will ultimately depend on your investment objectives, risk tolerance and overall portfolio strategy, so before you buy in, do your homework to make sure your decision aligns with your long-term goals.