Stanley Doble
Call Me a Cab
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- 2,808
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- Cobourg
The Hunt brothers weren't speculating. They were early "doomers" who believed the fiat currency was doomed (correct but 30 years early). Gold was illegal then but silver wasn't so they put their substantial savings into silver.
That was what was behind the rise. Not that they were speculating but that they were taking delivery of mass quantities of silver.
Eventually the speculators on the commodity exchange ganged up and got the rules changed. This saved the speculators but busted the investors and the price of silver went back down.
That was what was behind the rise. Not that they were speculating but that they were taking delivery of mass quantities of silver.
Eventually the speculators on the commodity exchange ganged up and got the rules changed. This saved the speculators but busted the investors and the price of silver went back down.