In this riveting January 2026 edition of Hard Money Matters, hosts Kyle Warren and John Mabin (founder of Pegasus Coin and Jewelry in Bradenton) express genuine astonishment at the unrelenting precious metals bull run, with gold surging past $4,700/oz (continuing its meteoric ascent that feels "beyond absurd" yet persistent) and silver pushing higher amid forecasts like Deutsche Bank's $6,000+ gold target by year-end—while stressing the market's extreme abnormality, daily rule changes by big players, margin calls, credit lines pulled, and widespread dealer cash crunches from massive buy volumes outpacing immediate liquidity. John hopes for eventual stabilization in a 5–10% trading range for "normalcy" to benefit everyone, warning that unchecked volatility isn't healthy and could lead to sharp corrections (even catastrophic single-day drops, as seen historically in stocks). They revisit the critical importance of physical possession—owning metal you can hold/control—over paper/allocated forms, storage facilities, or gold IRAs (high fees, loss of control, hassle to sell, and dealer incentives skewing promotion), favoring direct physical buys or major ETFs (GLD, SLV, PPLT) only for short-term trading with full risk awareness. Geopolitical threads tie in: Trump's Greenland strategy (securing rare earths/military dominance without formal ownership, arguably a win for U.S. security) could inspire China's Taiwan playbook (occupy key areas, install bases, maintain facade of sovereignty), while global uncertainty (central bank buying, fiat erosion) sustains the rally. John expresses strong skepticism on a Fort Knox audit push—arguing the government already knows exact holdings but withholds disclosure to avoid political chaos (infighting over uses like welfare/Medicare vs. strategic reserves) and preserve uncertainty as a deterrent to adversaries. Amid volatility reminders—no straight-up forever, rotations inevitable—they celebrate the thrill of this unprecedented environment while urging prudence. As always, opinions aren't investment advice, and buying/selling precious metals/coins carries risks of loss—visit Pegasus for trusted appraisals or tune in next week!