It's Now 100% Certain! Silver Prices Will SOAR DRAMATICALLY in 2024 - Robert Kiyosaki

Beginning in the early 1970s, Hunt and his brothers William Herbert and Lamar initiated the accumulation of vast quantities of silver on Comex through Brodsky and Associates, nearly cornering the global market by 1979. Their estimated silver holdings of 100 million troy ounces generated a staggering 2–4 billion dollars in profits from silver speculation during the final nine months of 1979 alone. This monumental accumulation significantly impacted silver futures and bullion prices, escalating from $11 an ounce in September 1979 to an astounding $50 an ounce by January 1980. However, this rapid ascent was short-lived as silver prices swiftly plummeted to below 11 dollars an ounce within two months, notably on the notorious "Silver Thursday." Subsequently, in February 1985, according to the United States Commodity Futures Trading Commission, the Hunt brothers faced charges of manipulating silver prices during this period.

Jim Clark revisits this historic period, highlighting the astronomical surge in silver prices as a pivotal moment. Amidst the chaotic economic landscape of the late '70s, characterized by soaring inflation, escalating interest rates, and a weakening dollar, silver emerged as a refuge for wealth preservation.

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Credit: The Rich Dad Channel
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