In finance, the term "Silver Thursday" refers to March 27, 1980, an infamous trading day in which the price of silver collapsed. The collapse was precipitated by the failed attempt of three brothers—Nelson Bunker Hunt, William Herbert Hunt, and Lamar Hunt—to corner the market in silver. 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. 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. Continue reading from Investopedia
How the Hunt Brothers Cornered the Silver Market and then Lost It (Priceonomics)
Here's the Story of How the Hunt Brothers Tried to Corner the Silver Market (Business Insider)
Looking Up from the Silver Crash (CS Monitor)
Silver Collapses (Washington Post)
Silver Thursday (Apple Podcast)
Silver Thursday: How Two Wealthy Traders Cornered the Market (Investopedia)
