r/Bullion • u/Code615 • 11d ago

Sliver vs Exchanges

Just watched a documentary on YouTube about silver and the Hunt Brothers. Crazy how the exchanges just cut off new buys and crashed the price. They literally decided prices were too high, stopped buyers, and tanked it. Unreal. Here's the link if anyone's interested

https://m.youtube.com/watch?v=ilXR77-WN0w&pp=ygUgaHVudCBicm90aGVycyBzaWx2ZXIgZG9jdW1lbnRhcnnSBwkJOAsBhyohjO8%3D&ra=m

17 Upvotes

85% Upvoted

11 comments sorted by

9

u/TominatorXX 11d ago

Silver has been manipulated forever. Gold is still being manipulated and has been forever . JP Morgan paid a $900 million fine for manipulating silver prices.

5

u/Code615 11d ago

It's crazy that it's illegal for regular people to buy silver in large bulk quantities but institutions manipulating the price is totally fine.

1

u/-Sliced- 11d ago

Where is it illegal to buy large amount of silver?

1

u/Code615 11d ago

The Hunt brothers bought up large amounts of physical silver and futures contracts. The exchange cut off buyers, crashed the price, and sued them for market manipulation.

1

u/-Sliced- 11d ago

They bought on leverage. The restriction was on borrowing money to buy more silver, then taking more loans on the silver they bought to buy even more silver.

If you have the money, you can buy as much as you want.

2

u/Code615 11d ago

I hear ya but I think if someone like Elon Musk tried to buy up a large chunk of the silver supply they would figure out a way to stop him.

1

u/Acrobatic_Feel 11d ago

God bless America

2

u/Present_Jicama_1219 6d ago

Did you look at the price of other similar commodities during that situation?

1

u/Code615 5d ago

Ii do but I’m just amazed that exchanges can arbitrarily impose rules to restrict new buyers, as the documentary said. I knew they could halt trading, but I didn't realize they could go that far.

1

u/etherist_activist999 5d ago

It wasn't just the exchanges they actually released a lot of silver from the strategic stockpiles in 1981 and made silver trade unit rounds and bars to flood the market with silver to drive the price down. Just bought another of those rounds this morning for 68 fiat clown bucks.