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ANSWERS: 3
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4 or 5 big players sold up, i forget their names, the bank got scared and cashed in all their loans, noone had the money, and shit went pear shaped fast
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Everybody was buying on margin, with maybe 10% in earnest. So when things went a little bad, no one had enough money to cover their losses, and the bubble popped.
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If you are sincerely interested please read the enclosed link, it is to great a subject to post it here as an answer. http://www.shambhala.org/business/goldocean/causdep.html
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