Also, saying that 1979 was different from today because it was the Hunt Bros and the Saudis...is not really that differerent.
Today it will be the Chinese and the Saudis...and Jim Sinclair, and whoever else the establishment can hang with the bad rap when the whole thing plays out.
Silver went to $50 because people thought that it should. With Gold at $850 and historic ratio of 16:1, people all over the world probably thought $50 was a good place to get to...even the bankers who were buying on the side.
Only after the whole thing was over did the bankers and the gov't blame it on the Hunt Bros because they were in so big, and they made a good scapegoat. The bankers made a lot of money on the way up and on the way down I'll bet...cause they were in control all the way.
The gov't could have stopped the rally a lot earlier. They had 2 billion+ ounzes in Knox (which isn't there this time) They could have flooded the market at any time. jmho.
This time, should be different because they won't be in control when the phys market blows apart.
lotus petals,
gildage
