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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.

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