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Silverfinger - The True Story Of Nelson Bunker Hunt
Over 30 years ago, a man by the name of Nelson Bunker Hunt hatched the perfect plan: protect his inherited wealth (which then was one of the largest legacy fortunes in the world) from the inflationary destruction of "paper" assets by converting his assets into silver, and in the process cover the silver market, and send the price of silver to an inflation adjusted price of over $140 (nearly three times higher than the nearly record nominal silver price hit last week). Understandably, Hunt's name has appeared very often in the popular media in recent months, since after all it was the "Hunt" price that the May 1 silver smackdown (which will most certainly never be investigated) that sent silver from $48 to $42 in seconds that was being protected by the paper cartel. Yet just who is Nelson Bunker Hunt? And how did he cover the silver market when did? What exactly did he do, and is someone doing a comparable silver cornering right now? And, most importantly, why? The answers, all of which are provided in this September 1980 Playboy article reprint, will surprise and astound many, primarily due to the myriad parallels between the world of the 1970s and our own. What follows is one man's attempt to escape from the "system."
From "Silverfinger"
IN THE SUMMER of 1979, an invisible hand reached out from an island in the Atlantic and quietly began tightening its grip on the world’s supply of silver. The fingers of that hand extended to London, New York, Dallas, Zurich and Jidda. But the only visible clue to its existence was a newly formed Bermuda shell corporation called International Metals Investment Company Ltd. That dull sounding little trading company was not just another offshore tax scam but the operating front for a secret partnership seemingly capable of controlling the world price and supply of silver.
Full article (pdf)
Silver Finger by Harry Hurt III - September Issue 1980 - Playboy
h/t Whit
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Kike Confetti
I really have trouble understanding this enthusiasm for silver. I do remember what happened to the Hunts back then. They tried to corner the silver market and ended up losing $4 billion. Not sensible any way you look at it.
I also remember that they were blindsided by regulators who changed a few rules that undermined their positions. But something else was happening at the same time. Silver went from $2 per ounce to $40 per over a short period of time. This fact revealed something else about the silver market. Silver is not that precious. There are huge amounts of it out there in the world that is not just being stored in comex warehouses. It is found in consumer products and in many industrial products. When silver hit $40 there was a huge release of the "phantom" reserve into the metals market. That was also something that killed the price. If you think that is not a factor today you are deceiving yourselves.
+1. but since this is not Tivo I'll add a comment to my unjunk:
<sarc> How much did you pay, or are you willing to pay, for a dimond encrusted ring for your spouse? And would you be willing to tell your story in a fan created advert for the US Football superbowl in 2012? </sarc>
Things have changed. There is a real cause for panic on the side of the paper behemoths. The COMEX of 1980 is not the COMEX of 2011. In 1980 they used a tool called novation in which the futures and options contracts went to "sellers only". That would be much harder to pull off today given the CME owns COMEX and the CME is a publicly traded entity with legally binding exchnge duties. Novation is a legal contract law mechanism and givent the restrictions surrounding public companies engaged in highly regulated business (utilities, exchanges, etc) novation today would be much difficult to pull off than back then. Not that they couldn't. A scenario that may enable them to novate today would be something akin to the CME on the verge of bankruptcy and the The Fed or Treasury making some type of national security declaration that enables them to unilaterally novate all obligations from the CME to the public treasury/Fed, who then proceed to screw all bagholders. This would cause an environment that I think the Feds would want to avoid and save for last. Like 2013-2014. Before then, expect the margins in silver futures to eventually rise to full cash cost. 100%. They will continue to hike margins and will continue to play shell games with vaults, depositories and calims on allocated silver. I suspect that before they declare the final force majeure that will spark the riot to begin all riots, they will actually lie and claim phantom allocated silver and delay deliveries of silver and even deliver fake silver, a la the fake gold imbroglio via tungsten.
As has been mentioned. They are all fraud and force. They will force the fraud on us until they have no other choice but to confront us with full force and dare us to chop off their hedas. Governments are very predictable. Fascists governments controlled by sociopathic corporate pirates not so much, but predictable nonetheless.
Meanwhile, I will continue to trade the paper for paper profits to be periodically recycled into physical. Join me.
http://slv.collective2.com
Wow.
You don't seem like a "troll", nor did you use obvious sarcasm or the "/sarc".
Where does "Silver is not that precious." fit in?
Or:
Your first statement suggests that Silver was in short supply; the second suggests that huge amounts are being consumed and are in products that are not recycled for Silver.
Buy at any price... I am one of those who likes to pay less for items that I want.
If America suddenly decided to follow a policy of fiscal sanity, I would suddenly want to sell.
" Silver went from $2 per ounce to $40 per over a short period of time. This fact revealed something else about the silver market. Silver is not that precious. There are huge amounts of it out there in the world that is not just being stored in comex warehouses. It is found in consumer products and in many industrial products. When silver hit $40 there was a huge release of the "phantom" reserve into the metals market. That was also something that killed the price. If you think that is not a factor today you are deceiving yourselves."
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My friend, logic those not work on these.
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Pussy Galore: What happened? Where's Goldfinger?
James Bond: Playing his golden harp.
--
Time out; the precious stored in this planets crust will be the first element unrecoverable.
really? please divulge what, where and when. thanks!
Feel sorry for the Australian's on here, when their central bank is reverse insanity to the Fed.
The RBA is too bullish! When commodity markets are correcting and the Asia/Aust property market is sinking, they talk about tightening?
exactly ... thats one market that is heading for a massive fall. I'd like to thank them though for giving me the opportunity to sell some aud a little higher than yesterday.
Insane they are thinking about tightening more...Funny thing isthey think its about them... when its not ... its about china and excess liquidity.
humph?
Wow, this story has EVERYTHING!
Texans, oil, Campus Crusade, John Birch, Libya, Iran, Jews, the COMEX, wire-tapping, cowboys, silver, Saudi princes, the Fed, SEC, London, Zurich, New York, Sunshine, Marcos, Curtis LeMay, CFTC, the CIA, Englehard... MY BRAIN IS EXPLODING
No it does not have everything it is missing good tranny porn. LOL
To be fair, he did mention the SEC...
SEC Inspector General H. David Kotz found in a report issued in 2009 that during one week alone in 2008, the supervisor tried 196 times to access internet porn sites on his SEC computer, and that the computer's hard drive contained numerous pornographic images.
The supervisor "admitted that he had frequently viewed pornography at work on his SEC computer for about a year," according to a summary of Kotz's findings.
You can't buy into this story too much. I mean, the 30,000 ft view may be somewhat accurate, but really. When discussing global monetary conflicts between billionaire titans and their trillionaire paymasters, do you really expect truth? Expect a healthy dose of both misinformation due to ignorance, and disinformation due to deception.
Ask Martin Armstrong what really happened and he will clam up and then recount a scripted story that sounds sexy enough to be true, but doesn't cut the mustard all the way. Rabbit holes are very deep. Leon Panetta is middle management.
http://slv.collective2.com
Yeah... Like I'm going to read Playboy without any pictures... Dream on
James Bond: Do you expect me to talk?
Auric Goldfinger: No, Mr. Bond. I expect you to die.
and with that, good night.
the best thing about your posts is your avatar.
Where is the bunny?
I am beggining to have an inferiority complex. I cannot even get the FBI to notice me. Oh well. Am I such a loser that even the FBI ignores me? Hey there! Pyro here! Look at the pyro! I really mean it! Ok I have to go. My mom says lights out.
Hint Hint. Get a Job!
You want attention? Post a blog article about how evil Osama is and how you'd like to blow a hole through his head. Describe how you'd lurk in the background as Osama went about his daily life until you spring out, unsuspected, and blow his brains out. Marvel in the thought of blowing his brains out, how macho you would feel in being the ONE GUY who shot Osama.
Then go back and replace the "s" with a "b" in "Osama". You'll get attention.
Look at the relationship of asset values compared with gold.
http://lonerangersilver.wordpress.com/2011/04/22/john-exter%E2%80%99s-in...
It seems that what many have predicted (or advised) is actually happening: a fellow reader posted the order volumes of APMEX for the last several months. As silver price crashes, already unusually high order volumes accelerate.
Nelson Bunker Hunt/Ron Paul 2012.
Ending was sad. I hate when the dog dies at the end. : (
1st time i've ever heard of this guy, sounds like he raged against the machine harder than any faggot with a che guevera tshirt.
This from FT Deutschland - wtf!
Die Comex-Muttergesellschaft CME hat diese Hinterlegungspflichten nunmehr insgesamt fünfmal hintereinander erhöht. Auch die Goldbörse in Schanghai hat die Anforderungen unlängst erhöht.
Why is Shanghai copying the COMEX? Something we don't know?
I like you're trading thoughts! Wag that Tail!
i feel like i am banging my head against the wall here:
WHAT HAS FUNDAMENTALLY CHANGED IN THE US ECONOMY THAT PRECIPITATED THIS EXORIBITANT DROP ACROSS ALL COMMODITIES?!
M1, M2, and extrapolated M3 are all bellwethers of systemic contagion on the USD. it definitely isn't domestic job creation. is the announcement of OBL the big mover? short futures holders going balls out all at once? margin requirement hikes? the ol' pump and dump? all of the above?
Illusions and feelings have changed. Thats what a market that is not based on real supply and demand is guided by... well, at least midterm. Longterm as always is another matter. And yet, lots of midterms can make a longterm :-/
I can think of a couple of things.
People are thinking other people will sell because of QE ending. So they sell.
Repeated CTFC margin hikes in silver have forced people to sell because of margin calls. The selling cascades outwards as they need to close other positions in other commodities to cover their losses. It snowballs from there.
Ron Paul -
Audit the Fed
Investigate the CFTC
Jail the corrupt.
"Jail the corrupt."
Screw that, fucking shoot them. From the bankers and their pets in government.
In Sept 2001, I noticed that there are a number of trees in the southeast of the capitol. They should be put to productive use.
The metals are in a consolidation trade. I'm flat and will buy more @ the appropriate time.
The situation is now that everybody understands the banks and regulators are thouroughly corrupt and work hand in hand in fraud and corruption of the markets to suit their own needs.
They know that we know they systemically corrupt a defrauding the market place, and they know that we know they can and will keep on doing it day after day, at will.
They know and we know that there is nothing at all that can be done to stop them or make them accountable.
They know that they can only be made accountable by the CFTC and all know the CFTC has the function of aiding the defrauding of the markets by whatever bank desires it.
It is like the organised crimes unit of the police being entirely staffed by Mafioso. Not only does it guarantee freedom from prosecution it increases the efficiency of their criminal activity.
This is the CFTC. They not only guarantee free corruption by banks they aid in it and increase its efficiency.
As I see it there is only one way to put a break on the corruption of markets, PM markets, and that is dealing with the problem of the CFTC. Given that they are politically placed by the owned policiticians the only other avenue maybe to sue them for damages.
Would like to see a class action against the CFTC for damages to those who have lost large sums of money because of deliberate failure to deal with fraudulent activity over a long period of time and on specific obvious occassions. A pattern of behaviour that demonstrates a support of corruption in the market place.
It is pointless sueing banks with their bottomless pockets. It is much revealing if damages can be won against a regulatory body for gross failure to do their duty and for aid and abetting corruption.
Out of a population of 300 million, just a small fraction, say 1% is 3 million. If that 1% keeps buying buying physical silver in small pieces, 10 ounces at a time, relentlessly, month after month, year after year, while the available supply keeps dwindling after industrial consumption....sooner or later the whole house of cards collapses. And that 1% still has physical possession of all those little trades of physical silver which has been revealed as in exceedingly scarce supply. The price has to rise for the 1% owners, and the manipulators are left with the paper they've been pedaling.
Black Swans are soo passe. generic! I'm drawing new h4 trend lines. i see stochastic and RSI consolidation. I see wave 3 right after that. But then again I can read a chart!
I know this is completely off-topic, but ZHrs might be interested in shorting Commerzbank.
I consider the likeliness of that paper to drop from 4.22€ as of today into the €2.77 area within the next 6 months to be more than 60%.
Disclosure: I am short commerzbank with about 0.3% of my free capital.
CNBC regular talking head, pit trader 'Jeff' from Index Futures.com, said he saw comments the CME margin hikes toppling the Silver price was "absolute rubbish!"
Mmm! What news effected Silver then, apart from the biggest farce in business history, the machine-gun margin hikes being fired by the CME (Clown Monkey Exchange) peppering small private investors? Well there was the Big Hedgys like Soros' fund pulling the plug on their longs simultaneously. And what else..... err . . . . nothing!!
No just a pincer movement "One-Two" hit by a Big Exchange and Big Hedgys
Maybe Jeff can explain what he thinks pulled the plug given it was small retail investors who drove the price up and small retail investors who had the plug pulled by the Crime Merchant Exchange. C'mon Jeff, don't just say it's "absolute rubbish" in a vacuum, what other pricks popped the bubble???
Let's hope all private investors now 'Exit Left' and do not return to the rigged CME market (as PI's have vacated the now trading-on-fumes, running-on-empty stock exchanges) and leave the CME and Big Hedgies trading with each other in their empty bubble
Dump the CME
Blythe, congratulations and keep up the good work.
We Eurolanders appreciate a far lower silver price, one nice day Germany might be using silver in coins again (which is now back to making nickel coins, next stop aluminium rounds).
Well another day for you and me in paradise
Man, the splash sure was a great tell on the number of leveraged village idiots there were out there.
There was mass position closures and the banksters lapped up the dead and writhing.
Not so for the unleveraged, keep it simple out there people.
A,B,C (and maybe a D,E) correction to finish then it's party party party.
Late June maybe? We shall see
The condescending elitist bias came close to completely spoiling an otherwise interesting piece. BTW don't miss the big silver sale this week.
Jonathan May attempted to free us from the shackles of the Federal Reserve by creating an alternate banking system with instruments backed by land, raw materials, mineral deposits, oil, coal, timber, and other wilderness holdings. Jonathan aided Governor Connolly and the Hunt brothers in their effort to corner the silver market. The silver would have been used to create a "Bank of Texas" issue of "real" money. This would have destroyed the Federal Reserve had the Hunts been successful. When the world bankers realized what was happening, they destroyed Connolly, the Hunt brothers, Jonathan May, and Texas. The federal Reserve entrapped Mr. May by intentionally routing his credit instruments through the Federal Reserve, against the terms clearly stated upon those instruments, instead of through Mr. May's alternate system. Jonathan May was illegally arrested, illegally tried, and illegally imprisoned in the Federal Prison at Terre Haute, Indiana. The world power structure has stolen Mr. May's idea, which will be used as the banking system of the New World Order and is known as the World Conservation Bank. Jonathan has served four years of a fifteen-year sentence.
excerpt from : THE STORY OF JONATHAN MAY ( Chapter 16 ) Behold a Pale Horse, William Cooper Publisher: Light Technology Publications (December 1, 1991) Language: English ISBN-10: 0929385225 ISBN-13: 978-0929385228
he was a texan trying to play the game the way they play it in new york. this was a major mistake. he should have not been leveraged. that was major mistake number 1 on bullion. he should have bought physical junk silver through dealers like sanders or tulving and did it slowly over time that way not attracting much attention. he could have kept the bbooty at his place in dallas. nobody would have ever known anyway. and just kep buying bullion junk silver over time and his mission would have been accomplished. when he went into the silver futures market, he put his mission and his future in the hands of strnagers, people who probably didn't like him anyway and who of course probably did not care about his goals. it was a big mistake getting leveraged. it was a big mistake playing inthe paper silver market. and , it cost him. lesson learned perhaps. his father would have been severely pissed.......