46 years ago today, the greatest squeeze in history began to unravel
• Start of 1973: Hunt brothers start buying silver at ~$3/oz• Jan 1979: Price rises to $6/oz• Dec 1979: Silver at ~$25/oz• Jan 1980: Silver at ~$49/ozThen COMEX stepped in and changed the trading rules• March 25: A missed major margin call of ~135M• March 27: Silver crashed -50% in a single day The Hunt Brothers went bankrupt, were fined, and banned from trading after cornering 33% of the Silver supply
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments