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<p>[QUOTE=&quot;Cloudsweeper99, post: 991724, member: 3011&quot;]The massive short positions didn&#039;t exist back when the Hunts were operating.&nbsp; Back then, they held massive long positions, which were considered &quot;manipulation.&quot;&nbsp; Now, we have massive short positions, but somehow they are NOT considered manipulation.&nbsp; The quote below is from <a href="http://www.gold-eagle.com/editorials_04/laborde012704.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.gold-eagle.com/editorials_04/laborde012704.html" rel="nofollow">http://www.gold-eagle.com/editorials_04/laborde012704.html</a> which recounts the whole episode.</p><p><br /></p><p>&quot;Finally on January 7th of 1980 the COMEX changed their rules to only allow 10 million/oz of contracts per trader and that all contracts over that amount must be liquidated before February 18th. . The CFTC promptly backed up the ruling. On January 17th silver hit $50/oz, Bunker had continued to buy. At that point in time the Hunt&#039;s silver position was worth $4.5 billion dollars bringing their profits in silver to $3.5 billion dollars. On January 21st the COMEX announced that it was suspending trading in silver. They would only accept liquidation orders. Silver dropped $10/oz and stayed around $39/oz until the end of January. &quot;[/QUOTE]</p><p><br /></p>

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