(By Charles Savoie) —
The destruction of the Hunt-Arab silver play was a warning to the new rich in the USA and the world to not go long silver! Not only the Hunts, but regiments of small investors were burned in yet another Pilgrims Society monetary inferno.
“Beyond Greed—The Hunt Family’s Bold Attempt to Corner the Silver Market” (1982)
The unstated definition of price manipulation in silver is that it can only transpire on the long side. Try passing an economics course in a university if you mention shortside silver price meddling. That may even apply in Idaho and Nevada scholastic institutions. I’ve seen faculty get red faced with hysteria!
The author worked first for Lord Astor (Pilgrims London) then for Lord Thomson of Fleet (Pilgrims London) —
Astor was directly descended from John Jacob Astor who as a director of the second United States Bank (1816-1836) was a silver suppressor!
Page 71 has this—“In 1976 the Hunts attracted the attention of the CFTC, which was concerned at the concentration of so much silver in so few hands.” Again—concentration in silver is an issue for regulators only if on the long side! The gold and silver shorts created the CFTC to cover for them!
Brew on this item from The Spokesman-Review, Spokane Washington, April 19, 1980, page 7—
“He (Nelson Bunker Hunt) said he was afraid the U.S. Government would expropriate silver.” A memo from CFTC official John Mielke said about an October 23 (1979) meeting. Hunt, at that session, explained that he arranged trades with foreign silver owners to avoid shipping tons of the precious metal abroad.”
The Hunts knew there was an organized monolithic financial structure they were up against—and it defeated them.
Herewith I present for those who missed it in previous offerings, an excerpt from the American Review of Reviews, New York, May 1902, page 557, as to the founding and goals of The Pilgrims Society—
(three founding goals of Pilgrims Society)
Hunt feared another Roosevelt style silver grab, and it’s definite he knew of the New York money bloc being behind the government end of their troubles. They’ve been using the government (CFTC) for years to steal and “seize” wealth (silver output) from the mining companies you’ve had your hopes pinned on. It’s not past them to manufacture a crisis and announce “Uncle Sam needs silver, don’t be an unpatriotic hoarder, turn it in.”
Dozens of Pilgrims Society members over the years who’ve been trustees of blindness research groups now have their successors expecting to charge people their entire life’s savings when retinal restoration treatments become possible—and they will. These are wealth seizers and wealth absorbers—not altruists.
The 1980 rosters for The Pilgrims London and New York are the most recent rosters to have slipped into the public domain. Some outsiders like secretaries may have seen these and figured “just another high powered social club.” 1980 was the year the Hunt-Arab silver long play was smashed. So it appears appropriate to focus on members in the 1980 lists who one way or another had a role to play in the Hunts being crushed.
READ MORE: Silver Squelchers PART 10
This article was written by Charles Savoie, you can read more of his work at SilverStealers.net.