/biz/ - Business & Finance

>>30177120

https://s3.amazonaws.com/camppictures/CampArchive/Economy/Hunt%20For%20Silver.pdf

>>30177122
I did
Information is all objectively verifiable

>>29334914
The Saudis got involved right towards the end, when the Hunts decided to issue their silver-backed bonds; they weren't the ones buying up all the silver on the COMEX. Nevertheless, a few rich Arabs don't constitute a mass movement either.

>Q was a movement, too, right? How did that work out?

Q was a banker-created distraction from The Silver Bullet, just like Tesla, Bitcoin, assets in general, and every other mass-media-promoted bubble.

>>27258937
>>27258967
>~31 dollars an ounce
>lower than any dealer
>ripped off
>selling
yeah sure

>>27096211

The shorts were presumably borrowing heavily as well, so the Hunts were presumably getting on an equal level with their adversaries. They ultimately went bankrupt because they were persecuted by lawsuits as a result of their silver-buying, not because of borrowing too much money. The main reason why silver collapsed was because the COMEX literally said that you couldn't even buy silver any more, only sell it, just like what the brokers are doing to GME and AG.

>>27039072

$50 wasn't the top. The Hunts were good principled men who had no intention to sell. They bought silver as a long-term investment and encouraged all their friends to do so. Silver went down because the banks cheated them and changed the rules so that you could only sell silver contracts and not buy them, just like GME today. Read "Hunt for Silver." https://s3.amazonaws.com/camppictures/CampArchive/Economy/Hunt%20For%20Silver.pdf The GSR should have gone all the way to 1:5.

>>26998365

"Hunt for Silver" is important to share with WSB because it shows that the Hunts were destroyed in exactly the same way that the GME short-squeezers were attacked. The regulators said that you could only sell silver and not buy it. And the Hunts didn't even go out of their way to cause a squeeze.

https://s3.amazonaws.com/camppictures/CampArchive/Economy/Hunt%20For%20Silver.pdf

>>26439368

"The Big Silver Short" by Chris Marcus is an interesting recent one. Also David Morgan's various books are worth getting.

This is an interesting article from 1980 which is sympathetic with the Hunt Brothers, it's called "Hunt for Silver":

https://s3.amazonaws.com/camppictures/CampArchive/Economy/Hunt%20For%20Silver.pdf

These are some articles on the '60s bull market:

Alison Boggs, “A Good Shepherd, Harry Magnuson Remembered as Friend and Protector,” Spokesman-Review, January 30, 2009, 1, 14;

Norman Bolker, “A Market Place for Dreams,” Pacific Northwesterner, Vol. 30, No. 1 (1986), 1-11;

John Fahey, “Optimistic Imagination: The Spokane Stock Exchange,” Pacific Northwest Quarterly, Vol. 95, No. 3 (Summer, 2004), 115-125;

J. R. Finlay, “The Mining Industry of the Coeur d’Alenes,” Transactions of the American Institute of Mining Engineers, Vol. 33 (New York: The Institute, 1903), 235-271;

Rebecca Nappi, “Maagnuson Had Vision For Region,” Spokesman-Review, January 27, 2009, 1, 8;

Richard Dwight Kegley, “A History of the Spokane Mining Exchanges,” Master’s thesis, University of Idaho, 1970)

>>26302338

>the inflation adjusted ATH was during illegal manipulation by the Hunt Bros

This is a falsehood. The Hunt Brothers did nothing "illegal" unless you believe in retroactive justice. All they did was take delivery on the COMEX, end the manipulation, and expose the derivatives price as a fraud. They correctly predicted the inflation that was coming from the dollar's abandoning of gold, and wanted to preserve their wealth. The GSR got to 1:15 in 1980 which is simply its _normal_ historic level, going back all the way to the time of ancient Greece. The mining ratio of gold to silver is 1:8, and in the Renaissance the GSR was as low as 1:3, in ancient Egypt 1:1 or even 2:1. The Hunts themselves thought that a GSR of 1:5 was fair value, and given the enormous value of silver in the modern world for all kinds of technological applications I can't say that I disagree with them.

>>26187697
>>26191222

It's worth pointing out that, whatever you think of the JFK situation, the Hunt Brothers' plan for issuing silver-backed bonds is undoubtedly not a myth and is the second reason why they were destroyed (the first being to expose the COMEX by taking delivery).

>>25609829

I imagine that the media would make as many distortions as they could. For example, the Hunt Brothers were honourable men, who very publicly announced what they were doing and why they were doing it. They said that they were taking delivery of silver to preserve their purchasing power in view of their concerns about inflation, and government monetary policy. But the story became that they were "cornering the silver market." Perhaps there will be some similar lie fabricated this time.