Know about Hunt brothers before you Invest in Silver
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Nelson Bunker Hunt and William Herbert Hunt brothers of Texas were investing in silver and the price of the silver jumped from $6/oz to $48.70/oz in the year 1979. The Hunt brothers were holding one third of the entire silver in the world. At that time there is full page ad in New york times from jeweler Tiffanys on the artificial high price of the articles made of Silver.
In the year 1980 heavy restrictions on the purchase of commodities(Silver Rule 7) and the price of the Silver has gone down by 50% in just four days. Hunt brothers were unable to meet their obligations, causing panic in the markets. This forced the Hunt brothers to declare bankruptcy.
Now in the year 2010-11 the prices of the silver started increasing again with NO real demand for ornaments or industry purpose but it is because of the investment of black money from the greedy investors. The down in the reality market left no other option for the corrupted and started investing in commodities like gold and silver. I don"t know if there is an option again to put the restrictions on the purchase of these commodities and stop the black market business in the country and save the real investors.
Government should come up with strict rules to bring back the chunks of silver and gold stored in the locker of corrupted and get the market to the stable situation before the market conditions worsen.
Save India from Greedy Investors
Let go of the Corruption, please India!
Courtesy, Source, References & Regards: Kishore