Hunt believes

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Hunt believes  - 14" A iNctua Sunday Morning, September 7, 1980...
14" A iNctua Sunday Morning, September 7, 1980 ByMARYTOBIN UPI Butuiess Writer DALLAS (UPI) - It's hard to reconcile the look and manner of William Herbert Hunt with the image of a family that wants to take over the world's supply of silver, And, listening to him In his 25lh floor office at Hunt Energy Corp. In Dallas, one can believe that neither Herbert Hunt nor his more flamboyant brother, Nelson Bunker Hunt, wanted to Hunt believes government's influence too big worldwide), to our customers, and to our families, and they get upset at some of the things they read." Hunt laughed when asked If, as one story has it, he and Bunker wanted to set up their own economy, using silver as a currency. "Bunker and I share common views about the paper dollar losing its value because of inflation," Hunt said. Their investments in sliver were a hedge, a businessmen, but think in the style of the Idealized Old West. They consider their word or a handshake on a deal final. But the Old West is gone and a "Bronco Billy" or "Tom Mix" is at odds in today's world. And when It comes to an oft-repeated lale of Hunt cowboys riding shotgun on the midnight air transfer of 40 million ounces of Hunt silver to Switzerland, it's a Energy employees, from vice presidents to Mrs, Johnson and Bunker's secretary Lois Snow, to young Roger Layne who is in charge of the stock room, brought continued references to "family." "We celebrate birthdays, we get involved in each other's personal • affairs. Working for the Hunts is kind of like being part of the family," Layne said. "Mr. Bunker, Mr. Herbert and keep the regulatory eye on the Hunts. "I don't think that's a factor," Hunt said The claim by Bunker and Herbert that their speculative forays are taken separately has been a weak point in their defense of their silver dealings before congressional and regulatory committees. Their offices, with the doors always open, are on either side of a small when the owner of a forward contract makes an agreement with a bullion dealer to exchange the contract for actual metal outside of the commodity markets. This prevents a "squeeze" on the amount of silver available for delivery in commodities exchange warehouses. Hunt also confirmed that they took somewhat of a shellacking on the e.f.p.'s since some of the coins they members of the Comex had nothing to gain by the rules they imposed that Hunt said "killed the market." "What he didn't point out is that the shorts (professional hedgers and trade houses) were being forced to come up with additional margin every day that silver rose, even though hedged. They were having to borrow this money from banks when interest rates were near 20 percent," Hunt price — in a few cases survival." A $1.1 billion loan Hunts obtained from to pay off their silver also was justified, said. "We have the back the loan. straightforward deal." The Hunts want to their remaining 63 ounces of silver, Hunt "The loan agreement states that I speculate in silver while

Clipped from
  1. The Galveston Daily News,
  2. 07 Sep 1980, Sun,
  3. Page 14

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