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The reality of black friday sales.

109,282 views • 1 year ago •via X (Twitter)

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Dhirendra Kumar's profile picture
Dhirendra Kumar1 year ago

The Original Black Friday: When America Went on Sale—Thanks to Two Guys and a Bag of Gold Before there were 70% off discounts on air fryers and people elbowing each other over flat-screen TVs, Black Friday had a different vibe. It wasn’t about shopping; it was about dropping—the economy, that is. Let’s rewind to 1869, when post-Civil War America was still figuring out how to adult financially. The government was drowning in $3 billion of debt, which was like owing your landlord rent for the next 200 years. Treasury Secretary George Boutwell had a solution: sell off government gold reserves to stabilize the dollar. Logical, right? Well, two Wall Street guys saw this plan and thought, “What if… we broke the entire system instead?” Enter Jay Gould and James Fisk, the original “finance bros.” These two were like a cross between Gordon Gekko and the guys who promise you passive income on YouTube. Gould, the brains, and Fisk, the loudmouth, hatched a four-step plan: 1.Secretly buy up a ton of gold. 2.Get the government to stop selling its reserves. 3.Sit back as gold prices skyrocketed. 4.Sell at the peak, cackling maniacally. But there was one problem—they needed someone on the inside. Enter Abel Corbin, a minor financier who had one major selling point: he was married to President Ulysses S. Grant’s sister. (The Grant family tree apparently wasn’t picky about in-laws.) Gould and Fisk cozied up to Corbin, promising him he’d be rich enough to buy all the embroidered waistcoats his heart desired. The White House Hustle Using Corbin, the duo infiltrated President Grant’s inner circle. They convinced the President, via a mix of flattery and subtle manipulation, that halting gold sales would stabilize the economy. “Think of the people!” they probably said, though what they really meant was, “Think of our yacht fund.” Grant, perhaps distracted by post-Civil War fatigue, bought it. Meanwhile, Gould and Fisk quietly cornered the gold market, watching prices soar like a Tesla stock chart. By September 1869, gold was up to $160 an ounce from $130. Wall Street was in a frenzy, and Gould and Fisk were ready to cash out. It was all going according to plan until… The Treasury Steps In President Grant started to suspect something was off. (Maybe it was Corbin’s sudden purchase of a third mansion.) On September 24, now known as “Black Friday,” Grant ordered Boutwell to flood the market with $4 million in government gold. The market imploded. Gold prices nosedived from $160 to $130 within minutes. Wall Street descended into chaos—think Cyber Monday, but instead of buying things online, people were selling their souls to cover their losses. Speculators went bankrupt, businesses collapsed, and protests broke out. Aftermath: The First Black Friday Sale Gould, ever the opportunist, managed to offload his gold just before the crash, walking away with most of his profits. Fisk wasn’t so lucky; he became a public punching bag and had to spend the rest of his days dodging angry mobs. Abel Corbin? He was booted out of the Grant family Christmas party and faded into obscurity. President Grant faced criticism for being duped, though he wasn’t directly implicated. Meanwhile, the average American got a front-row seat to how a couple of greedy guys could tank the economy in the name of profit. So, next time you’re camped outside a big-box store at 3 a.m. for a $20 microwave, remember: the original Black Friday wasn’t about scoring deals. It was about scoring big—and making sure everyone else paid the price.

Devrani's profile picture
Devrani1 year ago

Fight club dekh ke aya hai

Sanket's profile picture
Sanket1 year ago

बस तुम्हारे जैसे लोगो के influence कारण मैं PlayStation नहीं ले पाता हुं 😒😏

Rohit's profile picture
Rohit1 year ago

Ain’t sharing this post, you’re probably making thousands $ on the video using thumbnails and words just by saying black friday scam to attract viewers, it’s the same logic to attract people for the stores.People get good deals who are actively updated on product pricing. BS post

Harinarayanan p c's profile picture
Harinarayanan p c1 year ago

This is the case with almost every sale. It's nothing new. People see something at a good price, there will be a tendency to get it. Not a new discovery and no it's not a scam. If black friday sales are a scam then so are every other sales.

TheDailyScoop's profile picture
TheDailyScoop1 year ago

How about i save money for some needy stuff to buy at black friday

Vidit #Sidhearts❤️'s profile picture
Vidit #Sidhearts❤️1 year ago

Bsdk ke woh to har sale main hota h chahe jaha bhi ho 🥱

Nikhil Wad's profile picture
Nikhil Wad1 year ago

Black Friday started in the 1950s when people would call in sick to get a head start on holiday shopping. It's been wild ever since!

Manish HL's profile picture
Manish HL1 year ago

Interesting!! ,Scammer exposing scams

Rohan Acharya (UR)'s profile picture
Rohan Acharya (UR)1 year ago

Dude quoting Tyler Durden from Fight Club and stating Black Friday is a scam.

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