To: Presbyterian Reporter
What did silver do in 1980 after hitting $50/oz?
To: babble-on
The Hunt Brothers attempted to corner the silver market. Controlling enough to cause the price to spike and sell at the top was the plan.
I don’t think they succeeded. The current market is broader and different conditions prevail.
11 posted on
04/25/2011 5:26:09 AM PDT by
bert
(K.E. N.P. N.C. D.E. +12 ....( History is a process, not an event ))
To: babble-on
What did silver do in 1980 after hitting $50/oz?
You mean after the CFTC pushed COMEX to freeze all buying orders and only accept liquidations? after Volcker pushed banks to stop loaning money to silver speculators? at a time when it was still illegal to own gold?
After all that intervention, it went the only place it could - down. Yes, government CAN inflate the hot air balloon (FRN$) for a certain period of time, but eventually, gravity
To: babble-on
***”but eventually, gravity wins”
not sure why “wins” got chopped from my last post
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