Almost a year ago I wrote a piece titled “There is a high probability of an irrational bubble in gold”. In it, I described the various reasons why gold was likely to continue surging. But it looks like I was focusing my time and energy on the wrong metal. While gold prices have surged since then silver prices have absolutely exploded. Silver is up over 100% in the last 7 months! Is there an irrational bubble forming in silver? I certainly believe so. And as of yesterday I am putting (a very small amount of) my money where my mouth is. Remember, bubbles are highly unpredictable and dangerous environments. Play in this pool at your own risk – on both the long side and the short side….For most investors, the wise move is to simply steer clear of what is clearly a very unstable environment.