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Thread: What happened in the 1979-80s. Hunt brothers stood for delivery. Good read.

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    Default What happened in the 1979-80s. Hunt brothers stood for delivery. Good read.


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    You got a typo on your title, let me fix that:

    What happened in the 1979-80s. Hunt brothers bought the market on borrowed money. Good read.

    "Bunker still believed the price would go back up if only he could promote more buying. He scrambled around Europe looking for a buying partner but the more the price dropped the harder it was to borrow more money against his silver holdings to buy even more silver to hold up the price."

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    In a word, DEBT! And couple that with raised margin calls...Spells disaster.

    Note to self: I hate debt.
    Stacking since the late 1970's

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    Quote Originally Posted by DBCooper View Post
    You got a typo on your title, let me fix that:

    What happened in the 1979-80s. Hunt brothers bought the market on borrowed money. Good read.
    You got a typo on your title, let me fix that:

    What happened in the 2010s, the Too Big To Fail/Jail Banks bought the market on printed money.
    Legal Disclaimer: I am not a doctor, nor do I play one on TV.

    "It's tough to make predictions, especially about the future." -- Yogi Berra
    A variant of this has also been attributed to physicist Niels Bohr, and others.

    "Tis against some menís principle to pay interest, and seems against othersí interest to pay the principal." -- Benjamin Franklin

    The School of Hard Knocks is where you get the lesson after you fail the test.

    Book title: "The Best Way to Rob a Bank Is to Own One"

  5. #5

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    Quote Originally Posted by WhatsUpDoc1958 View Post
    You got a typo on your title, let me fix that:

    What happened in the 2010s, the Too Big To Fail/Jail Banks bought the market on printed money.
    While the people got hosed
    "Compulsory altruism is none too altruistic." - me

    "All of us necessarily hold many casual opinions that are ludicrously wrong simply because life is far too short for us to think through even a small fraction of the topics that we come across." -- Julian Simon

  6. #6

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    Quote Originally Posted by WhatsUpDoc1958 View Post
    You got a typo on your title, let me fix that:

    What happened in the 2010s, the Too Big To Fail/Jail Banks bought the market on printed money.
    Now if you just explain what that has to do with the Hunt brothers we would be all set

    They played hard, and fast, and lost. Their whole strategy was little more than a pyramid scheme; using money they didn't have to buy more silver, which would bring the price of silver up, which would give them more silver to borrow against, so they could buy more silver, which would drive the price of silver up, etc etc etc. What they did was technically not illegal, yet COMEX changing the rules was a proper response.

  7. #7

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    Quote Originally Posted by DBCooper View Post
    Now if you just explain what that has to do with the Hunt brothers we would be all set

    They played hard, and fast, and lost. Their whole strategy was little more than a pyramid scheme; using money they didn't have to buy more silver, which would bring the price of silver up, which would give them more silver to borrow against, so they could buy more silver, which would drive the price of silver up, etc etc etc. What they did was technically not illegal, yet COMEX changing the rules was a proper response.
    They were vilified for playing by the rules, and a bad or campaign even the royal family of France could have been amazed by. Then again, the federal reserve was involved, nothing to see here ha-ha.
    "Compulsory altruism is none too altruistic." - me

    "All of us necessarily hold many casual opinions that are ludicrously wrong simply because life is far too short for us to think through even a small fraction of the topics that we come across." -- Julian Simon

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    Quote Originally Posted by windweaver77 View Post
    They were vilified for playing by the rules, and a bad or campaign even the royal family of France could have been amazed by. Then again, the federal reserve was involved, nothing to see here ha-ha.
    They weren't part of the club. It's a small club and they were not in it. Plus it was stupid buying on margin. But they were definitely hog tied and beaten.

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    Quote Originally Posted by Atlas Shrugged View Post
    They weren't part of the club. It's a small club and they were not in it. Plus it was stupid buying on margin. But they were definitely hog tied and beaten.
    love stories of leverage gone bad, a bit of bitterness on being a saver for the past 30+ years i suppose.
    One in a million...GNR ...sums it up nicely

  10. #10

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    Quote Originally Posted by sasksilver View Post
    love stories of leverage gone bad, a bit of bitterness on being a saver for the past 30+ years i suppose.
    Nah, you reap what you sow. I think this may be the year... there will be lots of stuff on sale. Super cheap.

    Keep saving...

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