In 1979, two brothers from Texas tried to do what no one else had.
They tried to corner the global silver market.
Nelson Bunker Hunt and William Herbert Hunt, heirs to an oil fortune, were convinced that silver was undervalued and would protect their wealth against rising inflation.
What followed was a story of ambition, greed, and market chaos that still fascinates traders today.
The Hunts began buying silver in massive quantities, including physical bullion, futures contracts, and warehouse stocks.
Their vision was simple, control enough silver to set the global price. By early 1980, they reportedly owned 100 million ounces, roughly half of all privately held silver in the world.
Prices skyrocketed from $6 per ounce in 1979 
$50 per ounce in January 1980.
The surge created panic for everyone betting against them. Traders were forced into a short squeeze, scrambling to cover positions at increasingly higher prices.
The world watched in shock as silver seemed to defy gravity.
But no bubble lasts forever. The U.S. Commodity Exchange Inc (COMEX), where silver futures are traded, stepped in.
They raised margin requirements and imposed position limits. The brothers, heavily leveraged, were suddenly forced to sell.
Silver collapsed to around $10 per ounce in a few months. The Hunts lost billions and faced years of legal battles, but the story left lessons for generations of traders.
Here’s what we can learn from the Hunt Brothers saga:
–>Leverage cuts both ways. Massive gains can quickly turn into massive losses.
–>Regulators matter. Even the most powerful market players are bound by rules.
–>Physical versus paper holdings. Owning bullion is different from futures exposure, so risk management is key.
–>Market sentiment is everything. Fear and greed can amplify moves far beyond fundamentals.
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