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I remember when the Hunt brothers tried to corner the silver market and drove the prices through the roof, temporarily.
It went from $6 to almost $50 in a matter of months before crashing to earth big time. Like 50% in a few days and kept dropping, eventually getting back under $5 OZ.
They financed much of their purchases and couldn't make margin calls and lost over a billion dollars.
I wasn't playing at the time but a guy I worked with cashed in his meager savings and bought several large bars of silver when it was in the mid to high $20's.
He later told be he was using one of the bars as a door stop.
Looks like it only took him 50 years to break even.
Why do I bring this up?
This time the brothers have lots of company.
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