[exit82]

Gary Allen then proceeded to detail the manipulation and collusion by the insiders of the Commodity Exchange (COMEX) in New York, the Chicago Board of Trade (CBOT), and their confederates at the federal Commodities Futures Trading Commission (CFTC) and the Federal Reserve. As Allen and other analysts of the silver crash have pointed out, the industry insiders and their regulatory co-conspirators were frantically trying to cover up the fact that they had fraudulently sold contracts for far more silver than existed; they were massively short and couldn’t deliver. The “shorts,” facing a deadly reckoning that would send many of them to the poor house (and maybe even to jail), turned to their pals at the CFTC and the Federal Reserve. The Fed’s inflationary policies and interest rate manipulation were major reasons why the Hunt brothers had decided to move their investments into silver in the first place.

Evidently, things have not changed in 34 years. Some believe the silver market is being rigged the same way today.

[muir_redwoods]

Its only an opinion but I think silver is ridiculously undervalued right now. Can it go lower? Sure. Will it go a lot higher, I think so. $40-$50 an oz seems likely to me with gold sinking to $1000 or so.

[Pelham]

If the Hunts had simply bought silver bullion I don’t see how they could have gotten burned no matter how the price of silver changed. It’s using futures that put them at risk.

[boxlunch]

His real treasure was in heaven. And he used his earthly treasure to spread the gospel and for freedom and conservative causes.