As world financial crises continue to create fiscal havoc, many believe that large investment entities have recently attempted to manipulate the silver market. Apparently unsuccessful, silver continues its usual volatile path, roughly following the market track of gold.
Although today’s whistleblowers have been largely dismissed, a story of actual silver commodities manipulation occurred in 1980. Ultimately, the scheme was unsuccessful, but nonetheless provides an example of how precious metals manipulation might be attempted.
The sordid tale begins with the death of famed oil magnate, H.L. Hunt in 1974. His demise left billions to sons, Nelson and Herbert, who began investing in the commodities market. The pair believed that after the oil crisis of the 1970s, inflation would drive prices up, as silver became safe haven investment, much like gold.
The brothers, being flush with cash, began to purchase not only physical silver, but also futures contracts. They then began to close out the futures contracts with payments of physical silver, rather than cash.
http://investopedia.com/articles/optioninvestor/09/silver-thursday-hunt-brothers.asp#axzz1Bzokqc1
