Yeah, I bought SLV calls in early April and I’m up like 600%. I’ve been selling puts and nibbling on gold ETFs and miners since 2014 so I’ve got some healthy gains across the board in PMs.

Commodity bull markets are not linear, lockstep trends though. They tend to sputter and jump erratically. Oil can’t get much worse, and I’m long a couple of oil majors. Ag is tricky, but I’m opening a commodity futures account…

I’m not looking at what’s happening through the lens of inflation though, per se. I think more broadly, a crazy ramp up in precious metals prices is more of a general warning about global financial instability. Cryptos are another warning. Literal fires and blood in the streets too…

Hardly anyone on Main Street is looking at the end-game of these scenarios though. Maybe the Robinhood crowd buying gold is an early indicator that people are starting to wake up to the dangerous fiction of fiat currency and how it’s been used to rob them for decades.

Trust in our core institutions has been slowly unraveling for a long time too — but in the past 36 months it’s clearly been plummeting rapidly. People are not eager to disbelieve authorities, but the lies are more obvious now and more obviously destructive.

In terms of inflation, gold and silver are not at the top of my list to own. In terms of crisis, revolution, uncertainty and mass disillusionment, they’re hard to beat.