How two millionaires cornered the gold market
A quick fix of the latest financial happenings.
Good morning, investors — and happy belated Thanksgiving!
Considering the holiday, I’ve kept today’s newsletter short. I hope you’re able to relax today and enjoy the time with friends and family.
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Without further ado…
The Original Black Friday Wasn’t So Consumer Friendly
Black Friday has long been a staple in our capitalistic society. For the last several decades, people have flocked to retail stores in search of deeply discounted goods, padding the profits of corporations far and wide. Although the retail world has successfully turned the day after Thanksgiving into the Mecca of holiday shopping, this day can’t claim to be the original “Black Friday.”
That title belongs to September 24, 1869.
A day that saw the price of gold plummet by nearly 19% — all thanks to Jay Gould and Jim Fisk, who spearheaded a successful cornering of the gold market. (Sound familiar?)
Read the full story on History.com.
Three Eye-Opening Tweets
And finally, we close with three eye-opening tweets.
A sign of good things to come?
Less than ideal situation for rental property investors.
We’re doomed.
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