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The Scheme to Hook Up a King With the Wasp Woman and Other Wild Plans

Khalid Elhassan August 31, 2020 34 min

Susan Cabot - Hussein of Jordan — Susan Cabot and King Hussein. Veja

23. Collapsed Scheme Bursts the Silver Bubble

Bursting of the silver bubble. New York Times

March 27^th, 1980, was the day of reckoning for the Hunt brothers. That day, which came to be known as “Silver Thursday”, saw their silver speculation scheme collapse. Prices took a nosedive, and the Hunts almost immediately lost over a billion dollars.

The Hunt family fortune survived, however, and the brothers pledged most of it as collateral for a rescue loan package. Unfortunately for them, the value of their family assets declined steadily throughout the 1980s. By 1985, their net wealth had dipped from over $5 billion just before Silver Thursday, to less than a billion. Then things got worse, especially for the genius behind the silver hoarding scheme, Nelson Hunt.

Written by

Khalid Elhassan

A lifelong history buff, I developed a particular passion for WW2 history as a child, when I spent hours listening to my grandfather, enraptured, as he recounted his wartime experiences in the British East African Campaign and with the British 8th Army in North Africa.

I graduated with a history BA from George Mason University, then went on to get a JD from the University of Virginia School of Law. After lawyering for a decade, I moved to sunny Rio de Janeiro and a less demanding career, opening a tourism agency in Copacabana.

A big chunk of my free time is spent blogging (you can follow me on Quora https://www.quora.com/profile/Khalid-Elhassan ) or freelance writing, mostly about my favorite subject, history.