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Thread: Silver supply deficit

  1. #11

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    Quote Originally Posted by SilverPalm View Post
    The Hunt brothers failed because the rules of the game were changed when they were in mid play.
    Do you understand that the rule changed amounted to stopping a pyramid scheme of borrowing to buy and buying to borrow in order to manipulate the price up? The Hunt Brothers were the quintessential manipulators and you think that it was a bad move to stop their manipulation of the market?

  2. #12

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    I need proof that the Hunt purchases changed the price of silver in any meaningful way.
    "That's not money" - Ben Bernanke

  3. #13
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    Quote Originally Posted by and4rik View Post
    I need proof that the Hunt purchases changed the price of silver in any meaningful way.
    OH they sure did drive it up...I remember...They had this broker on the floor named Norton Waltuk yelling BUY BUY BUY for every lot that came up.

    Ag guy
    live for today, admit your faults, do the right thing (even if you don't want to) & trust God!
    This life is the training of the soul for the life to come. (accept that we live in a fallen world)
    Whether you know it or not, you are a spiritual eternal being! Ag guy

  4. #14

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    And as the price of paper silver (and gold for that matter) rose, people lined up outside coin stores cashing in. How did Tiffany manage any production during 1980?
    Last edited by and4rik; 04-24-2023 at 02:59 PM.
    "That's not money" - Ben Bernanke

  5. #15
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    Quote Originally Posted by and4rik View Post
    And as the price of paper silver (and gold for that matter) rose, people lined up outside coin stores cashing in. How did Tiffany manage any production during 1980?
    Don't know about Tiffany, but they were taking delivery on all contracts at first, and all it took was a dip in price once the margin calls on the hunt's futures contracts came in and they were trying to sell valuable art items to cover as the price started to drop the margin calls got heavier. They didn't count on every grandma having a 10 pound sterling tea set in the attic hitting the market. Then down it came all the way under $5/oz I remember $4.85.

    Ag guy
    live for today, admit your faults, do the right thing (even if you don't want to) & trust God!
    This life is the training of the soul for the life to come. (accept that we live in a fallen world)
    Whether you know it or not, you are a spiritual eternal being! Ag guy

  6. #16
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    WASHINGTON -- The Commodity Futures Trading Commission Thursday filed a complaint formally charging Dallas financiers Nelson Bunker Hunt and William Herbert Hunt and others with trying to manipulate silver prices during 1979 and 1980.

    The complaint, filed with an administrative law judge, said the Hunt brothers and a group of individuals and firms sought to manipulate prices by taking long (buy) positions in silver futures and acquiring millions of ounces of silver bullion. Also charged in the complaint were Naji Robert Nahas of Sao Paolo, Brazil; International Metals Investment Co., Ltd., of Hamilton Bermuda; Norton Waltuch of Englewood Cliffs, N.J., who was a floor broker and officer with ContiCommodity Services Inc.; Advicorp Advisory and Financial Corp of Geneva, Switzerland; Jean-Jacques Bally of Chene-Bougeries, Switzerland; and Pierre Alain Hirschy of Collogne-Bellerive, Switzerland.

    The CFTC said this group acquired more than 100 million ounces of silver bullion over a 6 -month period through massive deliveries taken on futures contracts, exchanges of futures contracts for silver and purchases of forward silver contracts in London and Zurich.
    live for today, admit your faults, do the right thing (even if you don't want to) & trust God!
    This life is the training of the soul for the life to come. (accept that we live in a fallen world)
    Whether you know it or not, you are a spiritual eternal being! Ag guy

  7. #17
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    Quote Originally Posted by Ag guy View Post
    WASHINGTON -- The Commodity Futures Trading Commission Thursday filed a complaint formally charging Dallas financiers Nelson Bunker Hunt and William Herbert Hunt and others with trying to manipulate silver prices during 1979 and 1980.

    The complaint, filed with an administrative law judge, said the Hunt brothers and a group of individuals and firms sought to manipulate prices by taking long (buy) positions in silver futures and acquiring millions of ounces of silver bullion. Also charged in the complaint were Naji Robert Nahas of Sao Paolo, Brazil; International Metals Investment Co., Ltd., of Hamilton Bermuda; Norton Waltuch of Englewood Cliffs, N.J., who was a floor broker and officer with ContiCommodity Services Inc.; Advicorp Advisory and Financial Corp of Geneva, Switzerland; Jean-Jacques Bally of Chene-Bougeries, Switzerland; and Pierre Alain Hirschy of Collogne-Bellerive, Switzerland.

    The CFTC said this group acquired more than 100 million ounces of silver bullion over a 6 -month period through massive deliveries taken on futures contracts, exchanges of futures contracts for silver and purchases of forward silver contracts in London and Zurich.


    So the government goes after those who might be manipulating the price higher but don't care about the long term manipulation to suppress prices to the downside. Very interesting for sure. No matter all his flaws, Ted Butler at least did a useful public service by exposing those who actively work to keep the silver price low.

  8. #18

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    I hear Mexico passed new legislation that requires the miners to return a portion of their spoils to the local area in exchange for continuing business.

    These were all passed into law last week.

    Proposed legislative reforms have Mexican miners worried

    https://www.bnamericas.com/en/featur...miners-worried

    The reforms being pushed by the Mexican government to the mining and water law have set off alarm bells in the mining industry, with sector associations and experts quick to point to some of the most concerning aspects in the proposed legislation.

    The bill submitted to the lower house of congress at the end of March by President Andrés Manuel López Obrador would reduce the length of mining concessions from 50 years to a maximum of 30, with a first term of 15 years and a single renewal.

    In addition, the bill would make concessions conditional on the availability of water, prevent holders of mining concessions from transferring them to other parties in private agreements, abolish the right of concession holders to expropriate land from the State, and create specific water concessions for mining that would only be renewable for five years, among other changes.
    What's the Frequency, Kenneth?

    432Hz

  9. #19
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    Apparently Idiots running governments are not limited to the USA.
    live for today, admit your faults, do the right thing (even if you don't want to) & trust God!
    This life is the training of the soul for the life to come. (accept that we live in a fallen world)
    Whether you know it or not, you are a spiritual eternal being! Ag guy

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