Opinion ID: 427595
Heading Depth: 1
Heading Rank: 5

Heading: the end of the rainbow

Text: 45 In conclusion, our metallurgical analysis of the Steinhardt devaluation provision reveals that it is a pure, unalloyed gold clause. True, the 1977 Amendment introduced a new gold rush in America; but our prospector set up his mining operation before then. His devaluation clause violates section 463 and cannot be used to mine further profits. 46 We have not delved into the gilded riches of Adam Smith or Milton Friedman; nor have we attempted to follow in the footsteps of their alchemic apostles to elucidate the monetary philosophy of yesterday or make economic prognostications for the future. We merely apply the law and conclude as we stated at the outset: Steinhardt has struck gold, but alas cannot keep it. 47 Accordingly, the judgment of the lower courts is given our golden AFFIRMATION. 48 AFFIRMED.