Black Friday, in general terms, is used for the Friday that arrives after ‘Thanksgiving’ in the United States. However, most people know Black Friday as the best shopping offer of the year! Stores all around the world sell their stocks at heavy discounted prices. Since 2005, it has been the busiest day in the United States in terms of shopping. But, do you know that the day that brings happiness all around the world, has one of the darkest backgrounds you could imagine? Do you know the story behind ‘Black Friday’?
The first time the term ‘Black Friday’ was used was on 24 September, 1869. There is a reason behind the term containing the word ‘Black’. It was not used to describe the day after Thanksgiving back then, Black Friday was the day when the U.S. Gold Market saw one of the worst crashes in its history, leading to a similarly worse financial crisis all over the country.
Two notoriously ruthless Financiers of the Wall Street Exchange, Jay Gould and Jim Fisk were the reason behind it. The financiers bought as much of the nation’s gold as they could, with an aim to rocket the price to sky-high levels and then sell the gold at astonishing profits. On the day that we today celebrate as ‘Black Friday’, this conspiracy finally unravelled, sending the market into a situation of free-fall.
The conspiracy bankrupted every single person who had his money invested. From Wall Street Barons, to farmers, every single person was pushed to their all-time lows and bankrupted! There are many other myths and stories related to the Black Friday that surfaced with time, but the real story remains that of Jay Gould and Jim Fisk.
It is interesting how the days that make the world happy today, made several bankrupt in their history. The sales on the day are so huge that it has led many multinational companies to begin them one day earlier, so as to manage the massive load arriving on the day.