Magnate of billionaire, oil, own horse race 1000... if you already owned so rich and generous family property, whether to return mortgage of home of body of meeting general complete to note money market? To this problem, whether does the person's answer decide most propbably great majority. But the moneybags of a legend that comes from the United States - Naerxun Bunker Hunter (Nelson Bunker Hunt) gave us another answers however, mortgage of complete body home notes silver option market, final gloomy however wind up, his life can says an a person of extraordinary powers is betted.
One of 3 millionaire of American, ceng Fuke enemy state
Hunter's fortune is by its father Haluodesen Lafeite Heng is special (Haroldson Lafayette Hunt) accumulate rise. Old Hunter is engaged in oil industry, became finally " caracal " oil business (independent production business) , cry with " old father " Qiaoyina's person forms companionate concern, old later Hunter established Hengteshi oily company (Hunt Oil) , make its for the United States the oldest independent oil and natural gas produce business. When dying to 1974, he already was one of 3 millionaire of American, with Howard · rests this (Howard Hughes) with Paul · Gai Di (Paul Getty) paratactic.
The empire that old Hunter establishs was in finally dispersedly in 12 children with his 3 wives strange place, they live in each corners of this country, do not know each other existence happily. But the major You Bangke of household company, Hebaite and Lamaer are managed, they are old Hunter and the sons that Leda · state overcomes first time marriage.
Hunter is after successive bequest, continue to extend familial oil industry, but it is overseas this. 1961, he is pulled more in Libyan dust Er much (El Dorado) the Salier that oil field discovered reserve is huge (Sarir) oil field, this is the oil field with the biggest North Africa. In addition, he returns the profitable domain such as sortie stock raising, mining and estate. In period of its business at the height of power and splendour, he owns about 1000 horse race, include bloodstock among them Daliya, she earned 1.5 million dollar in the horse race career of Europe and United States, won 10 organizations contest. He still spent 25 thousand dollar to buy A Sai of a pony to strap, the professional career income of this pony exceeds 1.6 million dollar. In 20 centuries 70 time, he is thought body home is as high as 16 billion dollar.
Try in vain to operate silver futures
Authorities accident is revised " game is regular
Time comes to 1979, bert Hunter planned Hunter and conspicuous of brotherly Williams · brushstroke is bigger " buying and selling " , that takes next global silver option market namely (note: Later development part turns from Baidu 100 divisions) .
Go up century 70 time are prime, silver price is in 2 dollars / wander near ounce. Because silver is the important raw material of electronic industry and optical industry, bunker Hunter and Hebaite Hunter brother two conspire from operate gain profit in the futures price of silver. Silver price the 2.9 dollars from December 1973 / ounce begins to start and be climbed litre. Right now, henry spy brother already hold the silver contract of 35 million ounce. Be less than two months, the price rises to 6.7 dollars. But at that time Mexican government corner the silver of 50 million ounce, purchase cost to all be in 2 dollars / ounce is the following, chinese ink government decides instantly with every ounce the price of 6.7 dollars gains profit. Mex shattered the market, silver-colored price falls answer 4 dollars left and right sides.
4 years of after this, actively of henry spy brother buys silver, to 1979, henry spy brother passes different company, the big silver broker business such as royalty of Saudi Arabia of in collusion with and mainland, sunshine, have and control device the silver of 100 million ounce. When they begin the operation, silver price is staying in 6 dollars / near ounce. Later, they are in new York commercial bourse (NYMEX) with Chicago futures exchange (CBOT) with every ounce the 6 prices to 7 dollars buy silver in great quantities. The end of the year, they already controlled a Comex of 53% put Commodity Exchange of silver and Chicago of 69% put silver, have the merchandise on hand of 120 million ounce and the futures of 50 million ounce.
Below their control, silver price rises ceaselessly, to January 17, 1980, silver-colored price already rose to every ounce 48.7 dollars. On January 21, silver-colored price already rose to the maximum price of throughout history, every ounce 50.35 dollars, than rising before New Year 8 times much. This kind of frantic congenial activity, the situation of market supply and demand that creates silver and production and consumption are out of line actually, market price case severely deviate its value.
In the process that purchases silver in insanity of henry spy brother, earnest money of every pieces of contract needs 1000 dollars only. A piece of agreement is representing 5000 ounce silver. In 2 dollars / when ounce, 1000 dollars close 10% ; And the price rises to 49 dollars / appear so little that have pity on when ounce. So, bourse decides to rise trade bail. Exchange board in view of the situation austere, begin slow carry out trade to be changed regularly, but raise earnest money finally to 6000 dollars. Later, came on stage simply " make smooth warehouse only " regular. New contract cannot clinch a deal, trade the pool trades mediumly can be smooth only go already supporting some old money market.
Silver price pursues (because henry spy brother operates,ever appeared soare)
Finally, exchange of futures of new York commodity trades in American commodity futures committee (CFTC) supervise and urge below, right 1979 take step to the silver option market 1980, these measure include to raise earnest money, carry out the limitation that maintain a warehouse and Xupingcang trades etc. Its are to reduce as a result empty dish of quantity and force to force storehouse person not be to exit the market to hold a storehouse to enter spot market namely, of course, because took up a large number of bail, the cost that maintain a warehouse will be very high. When when silver the climax of the market came on January 17, 1980, the intent operates the henry spy brother of futures price cannot increase cash deposit, dish of failure was accepted on March 27, 1980.
When the price drops, the requirement advent that all alone still borrows money is before henry spy brother. They are leasehold come average silver, reoccupy silver guaranty will lend more money. Now the shrink of beneficial of price be on duty for the day of their gage, the bank asks more gage. On March 25, new York invests business Bache to recover 135 million dollar to henry spy brother, but they are insolvent. The silver that then Bache company directive sells a Hunter brotherly mortgage in order to satisfy oneself requirement. Silver come down in torrents arrives on the market, the price broke down.
Hold of henry spy brother counts the bull money market of 1000 pieces of agreement. Only for pay off debt, they are about to cast a silver of 8.5 million ounce, the belongings such as extra crude oil, benzine, total value approachs 400 million dollar.
Henry spy brother goes Washington begs interview government official, try to strive for loan of Ministry of finance to give them, help them overshoot difficulty. Right now, hunter still has silver of 63 million ounce in brotherly hand, if be cast at a draught,go out, the market can break down thoroughly. Additional, a few main banks of the United States, if cannot get the help of the Ministry of finance to repay,borrow money, also want to face bankrupt risk. After balance advantages and disadvantages, federally the ground moves final occur for the first time the long term loan of 1 billion dollar will save Hunter familial reach whole market.
Gloomy go bankrupt
The kettle of the 20 dollars in the home also sells off repay a debt
1988, hengteshen goes bankrupt please. For repay a debt, he sold off all horses, with respect to Lian Jiazhong the kettle of 20 dollars also should sell piece use at repay a debt. 2014, hunter leaves die, all the year round is 88 years old. Can say, one of reasons that Hunter fails are to was in charge of an orgnaization to change regulation, he did not break the law manage.
Another reason that Hunter goes bankrupt is lever. The many objective silver that he buys is in at that time is buy with very low price, although the price drops considerably also won't lose money in business. But the hold price of the many futures contract after its is really high unusual, make its complete cannot turn over.
Relevant article:
" gold and silver price operate -- Shi Shangchao the giant bilk of dimensions of 1 trillion dollar "
