Doctor Copper is feeling perky lately.
"Market lingo for the base metal that is reputed to have a Ph.D. in economics because of its ability to predict turning points in the global economy. "
Oh man, what an awesome shorting opportunity that was
Mention the word “silver” to any group of ten people over 35 years old and at least 3 of them will immediately chime in “The Hunt Bros”.
If people are interested, they should do better research than this skimmiest of superficial articles on the topic.
Mention the word “silver” to any group of ten people over 35 years old and at least 3 of them will immediately chime in “The Hunt Bros”.
If people are interested, they should do better research than this skimmiest of superficial articles on the topic.
Doctor Copper is feeling perky lately.
"Market lingo for the base metal that is reputed to have a Ph.D. in economics because of its ability to predict turning points in the global economy. "
Right at the time the price of silver peaked, I had to buy some silver "shot" for a project that never came to completion; I kept that loose conglomeration of silver in a box until about two years ago when I traded it to a coin dealer for a couple of "silver eagles."
Mr. niteowl77
Dang,
Thought I’d missed a current plunge !!!
Heart Meds ,Please.
Silver closed this weekend at $15.18.
Common Silver Eagles are retailing at about $2.80+- over spot price. One large metals buyer is now offering $16.56 for your common Silver Eagles. Dealers are bidding $17.20 for common dates on the silver market.
I was in the industrial x-ray business at the time. The cost of film went way up but it never came down.
The Hunts brother next tried to corner the orange juice futures........ : )
The Hunt brothers had a brilliant plan — they were using money they got from those shorting silver to buy more silver, thus driving the price up, which meant that shorting it looked like an ever-better idea. So they did it again and again, and were financing the cutting of their own throats. Eventually, two things happened...
1) the “shorts” ran out of money, classic, basically, the Hunts ran out of other people’s money, and...
2) gov’ts around the world, not understanding what had moved the price up so hard, figured (rightly) that it would never be that high again, so they sold large chunks of their silver reserves, tens of millions of ounces per day.
The Hunts had to keep buying silver to keep the price going higher to finance their market corner, but eventually no one was interested in shorting it, and gov’ts were dumping tens of millions of ounces. This triggered their planned endgame, which was, sell bonds against their silver assets, making it the only so-called hard currency in the world. Trouble is, they waited too long, and the silver price bubble had popped, and the price was on a slide that neither they nor anyone else could stop.
The silver exchange never closed on Silver Thursday, because they anticipated that shutting down for the night would mean they’d never reopen.