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

  1. #21

    Default

    It's their game and you have to play by their rules...heck, what do you expect when they are willing to give you 10/1 leverage.

  2. #22

    Default Follow the rules, No they folded and went home.

    Regardless of leverage. The COMEX changed the rules, and only allowed sales, then they closed the market. The same as if after years of playing 21 at a casino the house says all ties go to the house. No more push.
    It's about rules being changed while the game is in progress. Up for consideration. Hasn't the market been cornered by COMEX, and the TPTB ?
    The Hunts legally broke the house, and they refused to deliver.
    .
    Last edited by droopy; 07-23-2015 at 12:16 PM. Reason: spelling

  3. #23

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    I wasn't defending their actions in regards to the Hunts...changing the rules in the middle of the game sucked and they sucked. Real men wouldn't have changed the rules and just accepted their losses. I was simply stating the reality that if you play games according to someone else's rules, then be prepared...

    P.S. The casinos could eliminate the push tomorrow if they wanted to..just not in their interests to do so.
    Last edited by Little KillBuck; 07-23-2015 at 12:23 PM.

  4. #24

    Default

    Quote Originally Posted by droopy View Post
    Regardless of leverage. The COMEX changed the rules, and only allowed sales, then they closed the market. The same as if after years of playing 21 at a casino the house says all ties go to the house. No more push.
    It's about rules being changed while the game is in progress. Up for consideration. Hasn't the market been cornered by COMEX, and the TPTB ?
    The Hunts legally broke the house, and they refused to deliver.
    .
    Droopy, where have you been for the past 30 years? The Overlords change the rules all the time. They intervene, they prop up, they bail out, they inflate THEIR asset prices, they lie, they cheat, they steal. The rules will change again when there is another crisis. There is NO moral imperative...there is no risk on this earth for the Moneychangers. They own the world, they rule the world and if their bets are bad they make YOU eat them.

    There is NO beating them...and I certainly don't want to join them. Therefore, I will just SHRUG AND LET THEM EAT THEMSELF. Disconnecting from the system, hoarding cash, having zero debt, using PMs as insurance and not playing their game is the ONLY way to win...

    Just my opinion.

  5. #25

    Default

    This tread was intended to shed light to those who have the opinion that if COMEX can't deliver price of PMs will "go to the moon", if COMEX can't deliver. What would happen, nothing.
    “The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance of foreign lands should be curtailed lest the Republic become bankrupt. People must again learn to work, instead of living on public assistance.” Marcus Tillius Cicero, 55 BC

  6. #26

    Default

    Quote Originally Posted by droopy View Post
    This tread was intended to shed light to those who have the opinion that if COMEX can't deliver price of PMs will "go to the moon", if COMEX can't deliver. What would happen, nothing.
    I agree. They would change the rules...same as it ever was.

  7. #27
    Join Date
    Oct 2011
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    25,750

    Default

    Quote Originally Posted by Atlas Shrugged View Post
    Droopy, where have you been for the past 30 years? The Overlords change the rules all the time. They intervene, they prop up, they bail out, they inflate THEIR asset prices, they lie, they cheat, they steal. The rules will change again when there is another crisis. There is NO moral imperative...there is no risk on this earth for the Moneychangers. They own the world, they rule the world and if their bets are bad they make YOU eat them.

    There is NO beating them...and I certainly don't want to join them. Therefore, I will just SHRUG AND LET THEM EAT THEMSELF. Disconnecting from the system, hoarding cash, having zero debt, using PMs as insurance and not playing their game is the ONLY way to win...

    Just my opinion.
    now you're talking... i agree!!!

    inct

  8. #28

    Default

    Quote Originally Posted by droopy View Post
    This tread was intended to shed light to those who have the opinion that if COMEX can't deliver price of PMs will "go to the moon", if COMEX can't deliver. What would happen, nothing.
    If COMEX can't deliver, you will get paid in FRN. Those ARE the rules.

    Most people just want the FRNs anyway, so what's the problem? If you want silver, you'll have to buy silver.

  9. #29

    Default

    Yep an right about when the FRNs come so comes the inflation
    "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

  10. #30

    Default

    Quote Originally Posted by Little KillBuck View Post
    I wasn't defending their actions in regards to the Hunts...changing the rules in the middle of the game sucked and they sucked. Real men wouldn't have changed the rules and just accepted their losses. I was simply stating the reality that if you play games according to someone else's rules, then be prepared...

    P.S. The casinos could eliminate the push tomorrow if they wanted to..just not in their interests to do so.
    Are you people missing the fact that the Hunt brothers manipulated the market, with money they didn't have, for personal, selfish gain? They had to be stopped for the good of all, not just the COMEX system. You guys must have been a huge fan of OPEC when they used their position on the market to send the price of oil from $15 to $40 in a year. Those old enough to be waiting in the long lines at the gas stations must have been saying "Good for those Arabs, they are just legally using their position in the market to push the prices their way. I hope some American comes along and do the same." With the oil crisis, production increased from non OPEC producers and the market sorted itself out. With the Hunt brothers it was easier, they were doing it on credit so forcing them to pony up cash killed them. If the brothers would have been on a fully covered basis, they could have just waited it out and truly bring COMEX to its knees but then again, they were just a pyramid scheme designed to benefit just them.

    Be thankful that the signal was loud and clear about what happens if you try to corner a commodity.


    Quote Originally Posted by droopy View Post
    This tread was intended to shed light to those who have the opinion that if COMEX can't deliver price of PMs will "go to the moon", if COMEX can't deliver. What would happen, nothing.
    +1 COMEX crash=Todamoon is a fantasy.

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