
Revisiting Richard Hofstadter's essay 'The Pseudo-Conservative Revolt' (1955). Here are the highlights of an essay that was in many ways prescient: (thread)







More from History
THREAD: With #silversqueeze trending on Twitter, it appears that this week's market spectacle may well be in the silver market.
A perfect moment for a thread on the Hunt Brothers and their alleged attempt to corner the silver market...
1/ First, let's set the stage.
The Hunt Brothers - Nelson Bunker Hunt, William Herbert Hunt, and Lamar Hunt - were the sons of Texas tycoon H.L. Hunt.
H.L. Hunt had amassed a billion-dollar fortune in the oil industry.
He died in 1974 and left that fortune to his family.
2/ After H.L.'s passing, the Hunt Brothers had taken over the family holdings and successfully managed to expand the Hunt empire.
By the late 1970s, the family's fortune was estimated to be ~$5 billion.
In the financial world, the Hunt name was as good as gold (or silver!).
3/ But the 1970s were a turbulent time in America.
Following the oil crisis of the early 1970s, the U.S. had entered a period of stagflation - a dire macroeconomic condition characterized by high inflation, low growth, and high unemployment.
4/ The Hunt Brothers - particularly Nelson Bunker and William Herbert - believed that the inflationary environment would persist and destroy the value of their family's holdings.
To hedge this risk, they turned to silver.
They began buying the metal at ~$3 per ounce in 1973.
A perfect moment for a thread on the Hunt Brothers and their alleged attempt to corner the silver market...

1/ First, let's set the stage.
The Hunt Brothers - Nelson Bunker Hunt, William Herbert Hunt, and Lamar Hunt - were the sons of Texas tycoon H.L. Hunt.
H.L. Hunt had amassed a billion-dollar fortune in the oil industry.
He died in 1974 and left that fortune to his family.

2/ After H.L.'s passing, the Hunt Brothers had taken over the family holdings and successfully managed to expand the Hunt empire.
By the late 1970s, the family's fortune was estimated to be ~$5 billion.
In the financial world, the Hunt name was as good as gold (or silver!).

3/ But the 1970s were a turbulent time in America.
Following the oil crisis of the early 1970s, the U.S. had entered a period of stagflation - a dire macroeconomic condition characterized by high inflation, low growth, and high unemployment.
Stagflation 101
— Sahil Bloom (@SahilBloom) September 2, 2020
The term "stagflation" is used frequently in discussions of monetary policy and risks in the post-COVID world.
But what is stagflation and how does it work?
Here's Stagflation 101!
\U0001f447\U0001f447\U0001f447 pic.twitter.com/at4FmaCmkM
4/ The Hunt Brothers - particularly Nelson Bunker and William Herbert - believed that the inflationary environment would persist and destroy the value of their family's holdings.
To hedge this risk, they turned to silver.
They began buying the metal at ~$3 per ounce in 1973.

Folks who don't know history just tweet whatever they want.
On Feb 1935, Bose attacked the Nazis as he was angry as Indians were described as Sub-Humans in Mein Kampf. The British arrested Bose in April 1936, because he insulted the Nazis.
#Thread
The West at this point had a soft spot for the Nazis. France, Great Britain, Netherlands, Poland all gave the Nazi Salute during the 1936 Olympics in Berlin.
Even during the Spanish Civil War (1936 - 1939), the Western powers observed neutrality as the Fascists rose in Spain.
In 1937, Hitler told British Foreign Secretary Lord Halifax that one of his fav movies was ‘The Lives of a Bengal Lancer’. Why?
‘The Lives of a Bengal Lancer’ depicted a handful of "superior race" Brits holding sway over an entire Indian subcontinent (Sub-Humans).
"Shoot Gandhi. If necessary, shoot more Congress Leaders (Nehru & Bose)."
- Hitler to Lord Halifax, Britain's Foreign Secretary
This statement by Hitler in 1937 angered many pro-Leftist leaders of the INC including Bose.
Bose reached London in Jan 1938, and he met many leaders of the British Labour Party including Attlee.
1938 & 1939 were two huge years for the Indian National Congress. As i always say, the 10-year phase from 1938 - 1948 shaped modern India and it began in 1938 Haripura session.
On Feb 1935, Bose attacked the Nazis as he was angry as Indians were described as Sub-Humans in Mein Kampf. The British arrested Bose in April 1936, because he insulted the Nazis.
#Thread
So Neta ji actually believed the Nazis could deliver freedom to India & its people?
— SonaliRanade (@sonaliranade) January 23, 2021
How can thinking Indians accept and eulogise such a gross error of judgement on the part of Bose is simply beyond me.
Not wonder Charlatans con us in the name of faux patriotism.
The West at this point had a soft spot for the Nazis. France, Great Britain, Netherlands, Poland all gave the Nazi Salute during the 1936 Olympics in Berlin.
Even during the Spanish Civil War (1936 - 1939), the Western powers observed neutrality as the Fascists rose in Spain.

In 1937, Hitler told British Foreign Secretary Lord Halifax that one of his fav movies was ‘The Lives of a Bengal Lancer’. Why?
‘The Lives of a Bengal Lancer’ depicted a handful of "superior race" Brits holding sway over an entire Indian subcontinent (Sub-Humans).
"Shoot Gandhi. If necessary, shoot more Congress Leaders (Nehru & Bose)."
- Hitler to Lord Halifax, Britain's Foreign Secretary
This statement by Hitler in 1937 angered many pro-Leftist leaders of the INC including Bose.
Bose reached London in Jan 1938, and he met many leaders of the British Labour Party including Attlee.
1938 & 1939 were two huge years for the Indian National Congress. As i always say, the 10-year phase from 1938 - 1948 shaped modern India and it began in 1938 Haripura session.
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