When Texas Oilmen Nelson Bunker Hunt and his brother William Herbert went headlong into the silver market in 1979 and 1980, they pushed the value of the precious metal from $6 to $50 per oz. and accumulated a hoard worth about $10 billion. That forced up the cost of everything from photographic film to jewelry, and tempted thousands of Americans to sell the family sterling. But the Hunts lost as much as $1 billion in a day in early 1980, when the speculative bubble burst and silver prices collapsed. Five years later, the Hunt family's woes continue to grow.
The Commodity...
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