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It's Black Friday! |
We all know that the Friday after Thanksgiving means a mad dash to the mall/or computer for ridiculous sales, even though we now know some Black Friday deals are not as good as they seem. But how did this bargain shopping chaos get its start? And why does it sound like it should be a day of mourning?The
first Black Friday actually had nothing to do with Thanksgiving or
shopping. It was the day the U.S. gold market crashed. Financiers Jay
Gould and Jim Fisk wanted to cheat Wall Street investors. They bought as
much gold as they could, driving up gold prices by more than $30 an
ounce. On Friday, September 24, 1869, the government put millions of
dollars worth of gold onto the market. The price plummeted, investors
went bankrupt instantly, and Gould and Fisk came out on top.