Sunday , April 18 2021

What is Black Friday, between the super deals and the blackest day of gold

As already happens with the Hot sale or the Cyber ​​Monday, the days of super discounts have already been installed in Argentina and today everyone talks about Black Friday. In our country is made since 2013, when a chain of supermarkets he implemented for the first time at national level.

But this tradition that was born in the United States already generates the same fever in several countries of the world. While some still doubt whether the offers and promotions during those days are a real opportunity to "make the difference ", others expect to buy these products or achieve the dream trip.

But what does Black Friday mean? The term actually has two meanings, which arise at different points in American history and are, in addition, completely opposite. While today the majority binds to one of "parts" of trade and the market, a second meaning refers to one of the most critical days of the economy in US history.

The origin of the term has nothing to do with definitive offers or purchases, but rather with the dense traffic of people and vehicles which was crowded in the streets The day after Thanksgiving. In 1961, Philadelphia police began using it to identify that day and became popular after 1966. In 1975, the whole country knew what the meaning of "Black Friday" was.

Today Black Friday is a holiday bridge in the United States that starts the winter sales season and at the end of the year and is called "black" because it is the day in which, by volume of billing, companies manage to pass in their finances, from red numbers (losses) to black numbers (profits).

But the Black Friday that everyone talks about today has nothing to do with "another black chapter" in America's history and economy. Friday, September 24, 1869 a group of speculators Sinked the price of gold. That day marked the beginning of a stock market and economic crisis that lasted several months.


This photograph of the Gold Hall slate in New York that day shows the collapse of the price of gold. The handwritten note, by James A. Garfield, indicates that the image was used as evidence in a congressional investigation.

Jay Gould and James Fisk were the two speculators who tried to corner the market during the presidency of Ulysses S. Grant and in the middle of the post-Civil War reconstruction era and a government debt to finance the construction.

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