What happened to the price of silver during the 70's recession?greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Just wondering if anyone would be willing to direct me towards a source of info re: metals prices during the 70's recession? Thanks in advance for any help. Was old enough to recall the coffee and sugar prices and gas prices but did not pay much heed to other economic business. Thanks for any help.
-- Ma Kettle (email@example.com), February 28, 2000
In 1980, the Hunt brothers managed to get silver up over 50 bucks an ounce by nearly cornering the market--it was very cool. They ended up failing, I think, and a billion or so lighter...
-- Imso (firstname.lastname@example.org), February 28, 2000.
Silver at $50???? WOW!!!
-- Mara (MaraWayne@aol.com), February 28, 2000.
hows the weather at the Cape?
THe issue is the ratio of silver to gold, historically at 12 to 16 silver ounces to one oz of gold. Now look at it, over 40 to 1. So when the market manipulation goes, we can expect a larger increase in silver than gold.
-- pliney the younger (email@example.com), February 28, 2000.
Go to: http://www.kitco.com/charts/
This site has the historical charts of silver and gold etc. for each year. :o)
-- Kim (firstname.lastname@example.org), February 28, 2000.
Thanks for info. Have been doing the silver surfing search for past few days. Got some tips for some informative links here and also in some of the old threads down below. Just have one more question if anyone cares to share from personal experience. How easy is it to liquidate say, silver American eagles, $1 face value coins or even the junk 90%silver pre-1965 circulated and uncirculated coins? I'll ask before I buy but just wondering if anyone had any personal experiences. Thanks again.
-- Ma Kettle (email@example.com), February 28, 2000.
Imso .... Hunt Bros. got the price up legally ; a group of the big boys AT THE SEC . were up to their ears in shorts . Enough , according to readings I made later , that these big guy were losing $ 100,000 a day covering those shorts as the price went up . Solution ? They changed the rules ! NO MORE BUY ORDERS ACCEPTED . You could only SELL ! Now that's the way to make money on shorts .
No charges ever brought . They ARE the " BIG Boys " , after all , so if you want to play in their yard , expect that the only rule you can count on , IS , there will be NO RULES ( that they can't change in the middle of the game). Few have ever gotten that story straight , because the Big Boys have the media/courts/government in their pocket. They ruined the Hunt brothers , and nobody cares OR gets the full story . But this is America . Land of the free-dom to cheat ; home of the once brave ( till they tangled with the rigged system .) Eagle
-- Hal Walker (e999eagle@FREEWWWEB.COM), February 29, 2000.