What do anons know of Silver Thursday
Looks like Hunt Brothers tried this only to get squashed by big government.
Maybe because it was only a couple guys that were easy targets- we swarming makes a difference??
Understanding Silver Thursday
The Hunt brothers inherited a large fortune from their father, Haroldson Lafayette Hunt Jr., a billionaire who made his fortune in the oil market. The three brothers were convinced that the value of fiat currencies would be severely eroded in the future, and they were eager to protect their purchasing power by buying large amounts of silver. Due in part to their aggressive purchases, the price of silver rose dramatically between 1979 and 1980, from just over $6 per ounce to over $40.1
In Jan. 1980, however, the price of silver declined by over 50% within less than a week, partly due to new restrictions placed on speculative margin traders. The Hunt brothers, who despite their own fortunes had relied heavily on margin loans to fund their silver purchases, were faced with severe losses on their position. Soon, word began to spread that the brothers were starting to face margin calls from their brokers.
As often happens in periods of financial crisis, rumor mixed with reality to cause investor sentiment to turn. Silver, which had only recently risen almost ten-fold in the previous years, now seemed to be in freefall.
At their peak, the Hunt brothers had accumulated a staggering one-third of the entire global supply of privately-owned silver. With its value rapidly declining, they soon became unable to honor the margin calls that they had been issued by their brokerage lenders. With bankruptcy seemingly imminent, the brothers received a bailout package of $1.1 billion, which was soon followed by a formal investigation by the U.S. Securities and Exchange Commission (SEC).
https://www.investopedia.com/terms/s/silver_thursday.asp