1908 Hungary Gold 100 Korona
- While the nations of the world go insane with open borders and print money by the TRILLIONS, we see Hungary close their borders to illegals and buy gold to back their economy.
The central bank of Hungary, the Magyar Nemzeti Bank (MNB), has just announced a purchase of a massive 63 tonnes of Good Delivery gold bars, and in doing so tripled the nation’s gold holdings from 31.5 tonnes to 94.5 tonnes.
In its press release about the huge transaction, published 7 April, the Hungarian central bank explains its rationale for the dramatic purchase of what is approximately 5040 large (400 oz) gold bars, highlighting that gold has no credit risk and no counterparty risk, and so reinforces sovereign trust over all economic environments (normal and extreme), while being one of the most crucial reserve assets that a central bank can hold.
From 10 Fold to 30 Fold
A No Confidence Vote in the System
When Gold and Silver was Money
When gold and silver were money somehow the sun came up every day, children played, businesses did business, people went to work and lived their lives.