NPTim Posted January 31, 2021 Share Posted January 31, 2021 Remember the GT member who predicted $50,000/oz? Maybe he wasn’t as crazy as we thought. https://www.theepochtimes.com/reddit-forum-sparks-physical-silver-shortage-on-major-dealers-websites_3679079.html?utm_source=news&utm_medium=email&utm_campaign=breaking-2021-01-31-2 If they can do this with a penny stock like gamestop, what is to stop “them” from doing it to anything? Silver? Gold? Oil? Food? 4 Link to comment Share on other sites More sharing options...
ChuteTheMall Posted February 1, 2021 Share Posted February 1, 2021 (edited) Whenever these hucksters buy advertising time to try to sell their magic metal, I wonder why they don't practice what they preach. Why unload it? Edited February 1, 2021 by ChuteTheMall Link to comment Share on other sites More sharing options...
Historian Posted February 1, 2021 Share Posted February 1, 2021 It's happening with ammo right now. Anyone seen a box of .38 special lately? And what some places are asking for it? 2 Link to comment Share on other sites More sharing options...
janice6 Posted February 1, 2021 Share Posted February 1, 2021 3 minutes ago, Historian said: It's happening with ammo right now. Anyone seen a box of .38 special lately? And what some places are asking for it? My Grandson is doing me a favor, and in return I am giving him a S&W 642. I don't know what his plans are for ammo, but he'll find a way to purchase some. I gave a Grand daughter a few hundred rounds of .45 for her new 1911. Then she went and bought a 1911 style 9mm. My 9mm is for my carbines so she's on her own. 1 Link to comment Share on other sites More sharing options...
Swampfox762 Posted February 1, 2021 Share Posted February 1, 2021 4 minutes ago, Historian said: It's happening with ammo right now. Anyone seen a box of .38 special lately? And what some places are asking for it? .45 and 9mm is basically, non existant , comercially. It's all over the net from the scalpers. Capitalism. What can ya say. I believe in it. There's somethin else goin on here. 1 Link to comment Share on other sites More sharing options...
minervadoe Posted February 1, 2021 Share Posted February 1, 2021 (edited) How the Hunt Brothers Cornered the Silver Market and Then Lost it All Quote back in 1980, Bunker, his younger brother Herbert, and other members of the Hunt clan owned roughly two-thirds of all the privately held silver on earth. But the historic stockpiling of bullion hadn’t been a ploy to manipulate the market, they and their sizable legal team would insist in the following years. Instead, it was a strategy to hedge against the voracious inflation of the 1970s—a monumental bet against the U.S. dollar. Quote Whatever the motive, it was a bet that went historically sour. The debt-fueled boom and bust of the global silver market not only decimated the Hunt fortune, but threatened to take down the U.S. financial system. Quote The panic of “Silver Thursday” took place over 35 years ago, but it still raises questions about the nature of financial manipulation. While many view the Hunt brothers as members of a long succession of white collar crooks, from Charles Ponzi to Bernie Madoff, others see the endearingly eccentric Texans as the victims of overstepping regulators and vindictive insiders who couldn’t stand the thought of being played by a couple of southern yokels. Quote in 1973, Bunker and Herbert bought over 35 million ounces of silver, most of which they flew to Switzerland in specifically designed airplanes guarded by armed Texas ranch hands. According to one source, the Hunt’s purchases were big enough to move the global market. Quote In 1977, the price of soybeans was rising fast. Trade restrictions on Brazil and growing demand from China made the legume a hot commodity, and both Bunker and Herbert decided to enter the futures market in April of that year. Quote Quote Futures markets introduce some additional complexity to the cornerer’s scheme. Recall that when a trader takes a short position on a contract, he or she is pledging to sell a certain amount of product to the holder of the long position. But if the holder of the long position just so happens to be sitting on all the readily available supply of the commodity under contract, the short seller faces an unenviable choice: go scrounge up some of the very scarce product in order to “make delivery” or just pay the cornerer a hefty premium and nullify the deal entirely. Quote In this case, the cornerer is actually counting on the shorts to do the latter, says Craig Pirrong, professor of finance at the University of Houston. If too many short sellers find that it actually costs less to deliver the product, the market manipulator will be stuck with warehouses full of inventory. Finance experts refer to selling the all the excess supply after building a corner as “burying the corpse.” Quote By the new year, with every dollar increase in the price of silver, the Hunts were making $100 million on paper. But unlike most investors, when their profitable futures contracts expired, they took delivery. As in 1973, they arranged to have the metal flown to Switzerland. Intentional or not, this helped create a shortage of the metal for industrial supply. Quote But as the high prices persisted, new silver began to come out of the woodwork. “In the U.S., people rifled their dresser drawers and sofa cushions to find dimes and quarters with silver content and had them melted down,” says Pirrong, from the University of Houston. “Silver is a classic part of a bride’s trousseau in India, and when prices got high, women sold silver out of their trousseaus.” Quote Unfortunately for the Hunts, all this new supply had a predictable effect. Rather than close out their contracts, short sellers suddenly found it was easier to get their hands on new supplies of silver and deliver. “The main factor that has caused corners to fail [throughout history] is that the manipulator has underestimated how much will be delivered to him if he succeeds [at] raising the price to artificial levels,” says Pirrong. “Eventually, the Hunts ran out of money to pay for all the silver that was thrown at them.” Quote This proved to be an especially big problem, because it wasn’t just the Hunt fortune that was on the line. Of the $6.6 billion worth of silver the Hunts held at the top of the market, the brothers had “only” spent a little over $1 billion of their own money. The rest was borrowed from over 20 banks and brokerage houses. At the same time, COMEX decided to crack down. On January 7, 1980, the exchange’s board of governors announced that it would cap the size of silver futures exposure to 3 million ounces. Those in excess of the cap (say, by the tens of millions) were given until the following month to bring themselves into compliance. But that was too long for the Chicago Board of Trade exchange, which suspended the issue of any new silver futures on January 21. Silver futures traders would only be allowed to square up old contracts. Predictably, silver prices began to slide. As the various banks and other firms that had backed the Hunt bullion binge began to recognize the tenuousness of their financial position, they issued margin calls, asking the brothers to put up more money as collateral for their debts. The Hunts, unable to sell silver lest they trigger a panic, borrowed even more. By early March, futures contracts had fallen to the mid-$30 range. Matters finally came to a head on March 25, when one of the Hunts’ largest backers, the Bache Group, asked for $100 million more in collateral. The brothers were out of cash, and Bache was unwilling to accept silver in its place, as it had been doing throughout the month. With the Hunts in default, Bache did the only thing it could to start recouping its losses: it start to unload silver. On March 27, “Silver Thursday,” the silver futures market dropped by a third to $10.80. Just two months earlier, these contracts had been trading at four times that amount . https://priceonomics.com/how-the-hunt-brothers-cornered-the-silver-market/ Edited February 1, 2021 by minervadoe 2 Link to comment Share on other sites More sharing options...
railfancwb Posted February 1, 2021 Share Posted February 1, 2021 2 hours ago, ChuteTheMall said: Whenever these hucksters buy advertising time to try to sell their magic metal, I wonder why they don't practice what they preach. Why unload it? They make their money on bid/ask spread and commissions. They may also have some set aside as well for personal accounts. Even if you can do $100/ounce on the spread and commission a lot of ounces must be handled to cover advertising and other costs. 1 Link to comment Share on other sites More sharing options...
Dric902 Posted February 1, 2021 Share Posted February 1, 2021 (edited) Probably Biden’s fault https://en.wikipedia.org/wiki/Market_manipulation Edited February 1, 2021 by Dric902 Link to comment Share on other sites More sharing options...
TBO Posted February 1, 2021 Share Posted February 1, 2021 Remember the GT member who predicted $50,000/oz? Maybe he wasn’t as crazy as we thought.https://www.theepochtimes.com/reddit-forum-sparks-physical-silver-shortage-on-major-dealers-websites_3679079.html?utm_source=news&utm_medium=email&utm_campaign=breaking-2021-01-31-2 If they can do this with a penny stock like gamestop, what is to stop “them” from doing it to anything? Silver? Gold? Oil? Food?Maybe they can do it with HI-Point firearms too? Sent from my Jackboot using Copatalk 3 Link to comment Share on other sites More sharing options...
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