It began in 1979 when a group formed a silver monopoly to buy all the world’s silver. In a short period of time they had amassed more than 200 million ounces of silver, equivalent to half the world's supply. When this started silver was $1.95/ounce. It soon peaked at $54/ounce before it plummeted (FOFOA, The Story of the Hunt Brothers, September 2, 2008.)
It began with the outrageous demands of unions, to the point that many corporations had to downsize and impose mass layoffs. It began with the outrageous salaries of sports figures. It began with the increase in doctor fees, dentist fees, and even the fees of plumbers and auto mechanics (one auto repair shop charged the standard four-hour “book” repair rate, but was actually clocked as spending only one-half hour working on the car.) It began with the absurd salary levels of CEOs, and the golden parachute packages. It began with lawyers doing ambulance chasing, filing frivolous lawsuits, or charging overly exorbitant amounts for work.
It began in the nineties with a stock market scheme to make money called “day trading.” Thousands speculated to gamble for quick one day profits. Thousands lost everything.
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