Apr

25

 During the third week of 1980, silver made a high of about 49.45/oz– and then collapsed, taking Nelson Bunker Hunt, William Herbert Hunt (and eventually Continental Illinois Bank) into bankruptcy.

Today, about 31 years later, silver finally reclaimed that "glorious" price … and traded at 49.79/oz….proving many market saws — including, EVERY market forecast will eventually be proven correct– it's the timing (and margin clerks) that make things difficult…

(A belated happy 85th birthday to Nelson Bunker….).

Recap from January 1980:

Fed Funds rate: 14.00%           Today=0.25%
10-year treasury yield: 10.6%  Today=3.4%
Dollar Index (DXY) = 86           Today=74.0
DowJones=875                        Today=12,400
CRB Continuous Commodity Index=290   Today=682
US CPI Index=78                     Today=223


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