| Ripple Effect — January 26, 2026
After getting fresh attention by cresting all-time highs of $50 per ounce last year, the question was simple: How high can silver fly?
We don’t know the answer yet, but silver is finally catching the anti-fiat, dollar debasement currency trade we’ve been writing about for decades:  The silver price briefly hit $110 this morning. (Source: Trading View) Silver is now up 54% year-to, err, month-to-date. And up over 280% since the start of 2025.
While we don’t know how much further upside is left, prior parabolic moves like these tend to lead to big pullbacks when they end.
“If you’re tempted to take a screenshot of your portfolio, it’s a good idea to take some profits while you’re doing that,” suggests our Portfolio Director, Andrew Packer.
We’d do so to grab some of those silver profits, simply because even though we started dollar-cost-averaging (DCA) into gold and silver in 2018 – silver was $16.47 – no assets can go parabolic, like silver has, indefinitely.
Or, hold on for the ride, and take a correction in stride.
~ Addison P.S. Last week’s Grey Swan Live! with Joel Bowman — our “man on the scene” in Buenos Aires since before President Milei got elected – helped us rummage through collectivist politics… and also provided a harbinger of things to come in the U.S. if New York’s Zohran Mamdani becomes the face of the Democratic Party in 2026 leading up to the midterms.
Joel also gave us a fresh primer on Investing At the End of the World as the Argentine market rapidly deregulates and opens to foreign investment in the country’s vast natural resources. You can catch the replay here.  This week on Grey Swan Live! – Thursday, January 29, 2026 at 2pm EST – we’ll be joined by Ronan McMahon of Real Estate Trend Alert.
Ronan’s going to treat us to real estate deals he’s got cooking in Mexico, Panama and Paraguay… it’s going to be a welcome tropical topic after this week’s bout with winter weather in North America.
Ronan’s also been scouting property in Venezuela – yes, Venezuela – following Trump’s abrupt capture of Nicolas Maduro to kick off the new year. We haven’t spoken to him yet about this property but we’ve heard he found beachfront condos for $15,000. Not everyone’s cup of tea, for sure. But if you’re into crisis investing… well, we’ll find out what deals Ronan has found.
If you have requests for new guests you’d like to see join us for Grey Swan Live!, or have any questions for our guests, send them here.
How did we get here? Find out in these riveting reads: Demise of the Dollar, Financial Reckoning Day, and Empire of Debt — all three books are now available in their third post-pandemic editions. You might enjoy one or all three. 
(Or… simply pre-order Empire of Debt: We Came, We Saw, We Borrowed, now available at Amazon and Barnes & Noble or if you prefer one of these sites: Bookshop.org, Books-A-Million or Target.)
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