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To: Gerald Walls who wrote (2015)	2/27/1998 9:19:00 PM
From: Marc Schiler	Respond to of 11051

<<No options, not setting new highs, and taking delivery means no manipulation. All done through London means no U.S. regulatory authority. The Hunts were heavy on margin so the U.S. regulators torched them by merely raising the margin requirements. This would have no effect on Buffet.>> Gerald, Thanks for the link, it verifies that Buffet is just working on fundamentals, as always. The London connection is pretty smart, and taking delivery without stocking up on options also makes it clear it's not a play. What is scary is that the entire purchase so far only represents 2% of their holdings, so they could buy up a very significant percentage of all available silver without resorting to margin. Of course, if they proceed much further, they will set off a huge price increase, if they haven't already. The only missing piece is how the SEC could change the margin rules on the Hunts in the middle of the game without everyone putting up a squawk. But you have clarified why they came to different conclusions about intent very nicely. Thanks, Marc

To: Gerald Walls who wrote (2015)	3/3/1998 5:08:00 AM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 11051

>>The Hunts were heavy on margin so the U.S. regulators torched them by merely raising the margin requirements.<< I guess the majority will find my comment unnecessary, but still... The regulators changed the rules to eliminate the possibility of anybody cornering the market "the Hunt's way". That the brothers ended under wheels, well, things happen. SEC or whoever in any case was not out to get their behind but to iron out a questionable detail in the way the market game is played. Regards everybody DJ