SILVER THURSDAY: Following a yearlong run-up in the price of silver, from 6.08 “dollars” to an all-time high of 49.45 “dollars” per troy ounce two months previous, the price of silver (lawful Money) begins to collapse, as the attempt by the three Hunt brothers (brothers Nelson B., William H. and Lamar) to corner the corner the silver market fails.
Postscripts:
- Over the next four days the price of silver fell 50%, subjecting the Hunt brothers to a 100,000,000 “dollar” margin call, as they were highly leveraged with futures contracts that were losing value.
- Over the next eight years the Hunt fortune fell from 5,000,000,000 to less than 1,000,000,000 “dollars,” forcing them to file for bankruptcy.
[added 11/24/2022] Thanks to World Net Daily for this entry.
Subsequent Events:
References:
Silver Thursday – Wikipedia
en.wikipedia.org/wiki/Silver_Thursday