Silver - bubble or not a bubble, this is the question

Silver just did the thing it always does in late-cycle markets: it stopped behaving like a commodity and started behaving like a meme stock with a PhD.

On December 26, silver ripped to a fresh all‑time high around $78.5/oz after a near-vertical run that took it through $70, then $75, then $77 in a matter of days. Reuters described the move as a 9% j…