The Hunt Brothers Demanded Physical Delivery Too!

"A billion dollars isn't what it used to be." --Bunker Hunt on the Sunday after Black Thursday when confronted with a significant payment demand from Engelhard.
If you want to know what happens when multiple long positions demand physical delivery of a commodity all at once, you need look no further than the Hunt brothers silver saga of 1979-1980. They did nothing illegal, the Chicago Board of Trade (CBOT) and COMEX changed the rules in the middle of the game, the Commodity Futures Trading Commission (CFTC) implemented new regulations, and the Hunts were bankrupted, unjustly. All they really did was simply request the delivery of the physical metal for which they held valid, legal contracts. The shorts were unable to meet the delivery at any price because enough deliverable silver did not exist - a classic short squeeze and the panic was on...
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