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Re: Gold and Silver

By: Zimbler0 in GRITZ | Recommend this post (0)
Fri, 14 Mar 25 9:47 PM | 10 view(s)
Boardmark this board | Grits Breakfast of Champeens! 		Msg. 05441 of 05453
(This msg. is a reply to 05422 by De_Composed)
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Decomposed > (Someone remind me why what they did was illegal.)


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From :
http://www.latimes.com/archives/la-xpm-1988-08-21-mn-1152-story.html

Two Guilty of Racketeering

Jurors in the trial, which began last February, found the three brothers guilty of violating fraud, commodities and antitrust laws. In addition, Nelson, 62, and William, 59, were found guilty of racketeering charges, but the civil case verdict carries no criminal penalties.

Only Lamar, 56, the owner of the Kansas City Chiefs football team, was found not guilty of racketeering. The jury also found that International Metals Investment Co. and Mahmoud Fustok, a prominent race horse owner, had participated in the conspiracy.

The metals investment company was owned by two Arab sheiks and two of the Hunt brothers. Fastouk is the brother-in-law of the Saudi Arabian crown prince. Another defendant was a Lebanese businessman now living in Brazil. The sheiks and the Lebanese businessman, Naji Nahas, have no U.S. holdings and did not challenge Minpeco’s court papers.
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Zim.




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Mad Poet Strikes Again.


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Re: Gold and Silver
By: De_Composed in GRITZ
Fri, 14 Mar 25 3:47 PM 		Msg. 05422 of 05453

Re: “ I therefore think we'll see silver at $34 later this month…”I wrote that on February 4th when silver was $32. My call was wrong, but I was sticking my neck out there in calling for a 6% climb in only 3 weeks.

Today silver hit my target, albeit briefly. I just thought I'd point that out. $34 is a long-term high for the metal, but not a record high thanks to the Hunt Brothers and their illegal attempt to corner the market back in the 1980s. (Someone remind me why what they did was illegal.) I think they elevated the price into the high $40s. It will likely be some time before silver's price tops that.

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