Someone Is Cornering The Silver Market To Cause A Silver Shortage [2/2]

By Cyrille Jubert of CyrilleJubert.com The previous Silver corners In the early 1970s, the Hunt brothers, who had made their fortunes in oil, panicked at the sight of galloping inflation, since the Federal Reserve had abandoned the defense of the fixed price of gold in dollars. As in the United States it was forbidden to hold more than a certain amount of gold, they decided to invest heavily in silver. When they started, one ounce of silver was worth $1,3. On the last day of the hike, in January 1980, the silver reached $50, before the Hunt brother were crushed by the Fed. What is surprising is that the Hunt brothers and their associates in the emirates had only amassed about 100 Moz of physical silver. Beside of that, they had bought all the futures contracts on the markets, which they had to sell with huge losses, because of margin calls. In October 2009, China banned the export of silver, depriving the market of approximately 154 Moz blocking JPM in a shor...

from GoldBroker.com https://www.goldbroker.com/news/someone-cornering-silver-market-cause-silver-shortage-part2-1370