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<p>[QUOTE="desertgem, post: 4595538, member: 15199"]If you read the story in a history book , the Hunts had the rules changed on them near the end of the game ( IMO). They were among the richest in the US/World and if they believed in something , they went all-in. There was no laws or regulations on what the Hunts did until the commodity exchanges and politicians pushed by the major metal exchanges changed the laws.</p><p> What the Hunts did was to buy a huge number of silver contracts, and instead or taking the cash as silver went up, demanded delivery( as was OK then) the exchanges give them their silver instead of cash. Repeat, Repeat, ....over and over and they were estimated to have accumulated ( with Saudi partners ) over 3/4 of the silver supply outside of governments. The commodities couldn't keep doing this so with the help of the US gov in response, set a limit of 3 million ounces and would not allow contracts to buy, but only to sell And only sell to commodity related firms....so everybody including the Hunts, who had silver over than amount had to dump to the exchange and take what ever price they could grab as it crashed. It's hard to feel bad about it, but I hate it when authority changes the rules in the middle of the game. I remember also that having Saudi partners caused a bad stir then. Could it happen again? How much do you trust any Government in relation to Big Business concerns if they need the income?</p><p><br /></p><p> The commodities or exchanges could (IMO) easily move prices up or down, but current rules do not allow it. The levels have been changed over the years since 1980, but unless you read the Prospectus of the company, it isn't readily visible.</p><p><br /></p><p>(As best I remember it <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> ) Jim[/QUOTE]</p><p><br /></p>
[QUOTE="desertgem, post: 4595538, member: 15199"]If you read the story in a history book , the Hunts had the rules changed on them near the end of the game ( IMO). They were among the richest in the US/World and if they believed in something , they went all-in. There was no laws or regulations on what the Hunts did until the commodity exchanges and politicians pushed by the major metal exchanges changed the laws. What the Hunts did was to buy a huge number of silver contracts, and instead or taking the cash as silver went up, demanded delivery( as was OK then) the exchanges give them their silver instead of cash. Repeat, Repeat, ....over and over and they were estimated to have accumulated ( with Saudi partners ) over 3/4 of the silver supply outside of governments. The commodities couldn't keep doing this so with the help of the US gov in response, set a limit of 3 million ounces and would not allow contracts to buy, but only to sell And only sell to commodity related firms....so everybody including the Hunts, who had silver over than amount had to dump to the exchange and take what ever price they could grab as it crashed. It's hard to feel bad about it, but I hate it when authority changes the rules in the middle of the game. I remember also that having Saudi partners caused a bad stir then. Could it happen again? How much do you trust any Government in relation to Big Business concerns if they need the income? The commodities or exchanges could (IMO) easily move prices up or down, but current rules do not allow it. The levels have been changed over the years since 1980, but unless you read the Prospectus of the company, it isn't readily visible. (As best I remember it :) ) Jim[/QUOTE]
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