Well, the Hunt Brothers.
The collapse of the silver market meant countless losses for speculators. The Hunt brothers declared bankruptcy.
By 1987 their liabilities had grown to nearly $2.5 billion against assets of $1.5 billion. In August of 1988 the Hunts were convicted of conspiring to manipulate the market.
Well, so much for cornering the market.
The Coming Oil Crisis
"The problem we have is that there are 2.3 billion people in Chindia," Leeb says, using shorthand for a combined China and India.
"Today, China and India use the energy-equivalent of 5.5 barrels of oil per person per year, while rich nations use 39. No matter how rosy your thinking is as to the global supply of oil, there is no way there is going to be enough to satisfy the demands of an extra 2.3 billion people coming online."
The National Debt.
Please take a look at the charts and see how printing money and Nixon's gold standard move makes gold and oil rise in price.
The Hunt bothers were hedging because Nixon took the US off the gold standard in 1971.
Because of a higher global demand for oil (remember oil prices are based on Dollars) and the US printing money to finance the war just like Vietnam era everything is priced higher.
Check housing prices lately?
One more thing about oil prices and Asia. 1998 was the last time I bought gas in Northern Virgina at .86 a gallon. I just came back from working in Europe and I couldn't believe my eyes when I pulled into the gas station.
How could fuel sell at that low, low price.
The 1997-98 East Asian financial crisis cause all of those oil tanks to turn around and headed to US ports with load of oil and gasoline that couldn't sell in Asia.
As the prices fell the cop layed off stop people from speeding on the highways in 1998. Well it looked that way in those days. Higher speeds burns up more gas.
WOW! look at those 1999 enforcement moving citations increase in Ohio.
So Asia is back on line. Oil is in big demand all over the world and I'm out of here!!!