Silver has skyrocketed this year—with gains of nearly 90%, it has set a new annual record since 1980. The underlying logic is simple: global capital is fleeing increasingly overprinted fiat currencies and pouring into hard assets.

Ironically, while central banks talk about "tightening policy," the global money supply is quietly hitting new highs. This kind of double-talk is further eroding trust in fiat currencies.

As for Bitcoin? Don't forget it's highly correlated with the US stock market. If the stock market ever truly breaks down, digital currencies are likely to suffer as well. When that happens, it will be the old reliables like gold and silver that can weather the storm.