Tomorrow is the thirty-fifth anniversary of Silver Thursday, the day when the Hunt Brothers, Herbert and Nelson, went bust. The Hunt Brothers missed a margin call that day and the price of silver collapsed.
The Hunt Brothers Accumulate Silver
The Hunt Brothers began accumulating silver* in the mid 1970’s in order to protect their inherited oil fortune against the ravages of inflation. They had been buying silver mining shares, silver in physical form and silver via futures contracts on COMEX they bought on margin under which they would take delivery. All was working according to the Hunt Brothers’ plan as the price of silver rose steadily from 1975 through 1979 and the Hunt Brother controlled an increasing amount of the world’s physical silver and more via silver futures contracts.The Price of Silver 1975-1979
Also see
http://wealthcycles.com/features/the-hunt-brothers-capped-the-price-of-gold-not-50-silver
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