If you go to the market and try and sell anything silver based, you will realize that many people are going to outright deny the purchase. Why? Because back in the ’80s, the price of the silver skyrocketed. Now when it comes to the factor why the price skyrocketed, people are under the impression that the reason behind that was the Hunt Brothers because they were buying a lot of silver back in the ’70s.
However, thinking back, one is almost forced to wonder whether the Hunt brothers were actually the cause of the rise in the prices? Well, the truth is that there might be a different kind of story after all. Below are some of the reasons why it might be wrong to assume that Hunt brothers were the cause behind the spike in silver prices.
Prices of Everything Increased
The thing that many people don’t understand is that back in the ’70s, silver was not the only thing that was rising in prices. As a matter of fact, gold rose as well. The more surprising part is that they both sawa decline at almost the same time.
Additionally, there was a rise in inflation, as well as interest rates, unemployment, and the fact that the stock market crashed. So, saying that Hunt brothers were the sole reason behind is just an overstatement.
The Prices Rose Again in 2011
Okay, let’s assume that the Hunt brothers were behind the rise of prices back in ’70s. However, what do we have to say about the rise in prices that took place in 2011? For those who do not know, the prices of silver shot up to 390 percent back in 2011, and if you have not guessed it already, both the Hunt brothers had passed away.
The one thing that no one really accounted for, or at least thought about is the possibility of more people from the Hunt family stepping forward. I know it sounds crazy, but the possibility of this situation is entirely there. Which only goes to show that there is a possibility that more people from the family jumped into the market and bought the same precious metal as Hunt brothers did. We are already aware of the fact just how vulnerable the market of silver is that even a small movement can cause a large number of shifts.
To make matters clear, I am not denying that Hunt brothers had no involvement in the spike of the silver prices back in the ’70s. however, to say that they were not responsible at all would not be true either. So, keeping that in mind, the important thing to know here is that the market for silver is volatile, and can be exploited with ease. What happened back in the ’70s was a combination of different events that took place, and that is the reason why most people were under major confusion.