These behemoths have been egregiously misnamed The Magnificent Seven, but they are just flying pigs, bloated with enough hydrogen to levitate a million Hindenburgs.
The Supreme Court upheld the state's right to maintain its own charter and allow state banks to issue gold-backed currency, bypassing the Federal Reserve's corporate system.
Louisiana’s sound money bill simply affirms that “any gold or silver coin, specie, or bullion” issued by the United States government is considered legal tender whenever voluntarily agreed upon by both parties to a contract.
Haggith notes gold will keep rising as emerging problems drive demand for security. Central banks buying gold, possibly to move away from the US dollar, add upward pressure on prices.
The table shows significant monthly gold swaps via BIS since August 2018, likely involving the Federal Reserve and accounted for in BIS-registered central bank sight accounts.
