Skip to content

BLACK FRIDAY: ORIGINS

Contrary to popular belief, the term BLACK FRIDAY didn’t originate from Thanks Giving Holidays, or any sales and shopping associations.

In 1869, two Wall Street Financiers Jim Fisk and Jay Gould went ahead to use their insider information and to purchase together a significant amount of US gold, hoping that they would corner Wall Street and drive the prices up before selling.

When US President Grant realised what they were planning, he immediately released 4 million US dollars in Gold, resulting in Wall Street Gold prices crushing on the 24th of September 1869, a day that would be marked as “The Black Friday”, as it sent the country into a short term panic mode and turmoil.

#BlackFridaySales #BlackFriday

Hope you have found this topic interesting and useful. All feedback is welcomed.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: