I used to think the American Left was insane for thinking it was okay to gender swap their kids and leave the borders wide open. But the American Right has its fair share of delusions as well.

For instance, why do they always think that once the first battle is over, the job’s done? Revolution is easy. Administration is hard. We’ve seen it time and time again. Remember how “smoothly” Iraq went? Or how we spent two decades in Afghanistan to defeat the Taliban, only to leave them in charge once we departed?

America is great at “shock and awe,” but not so great with “follow-through.” I suspect Venezuela means more of the same.

And therein lies our opportunity.

Because, as I’ve said many times before, “You can’t save the world, but you can save yourself.”

A Conversation With My Father-in-Law

I didn’t write about it much over the holiday season, but nearly all of my wife’s family came to stay at our house to celebrate Christmas and New Year. It’s been wonderful to have a full house. Both her sisters and their partners, and her brother and his wife, along with her parents, warmed up Ring Manor. Unfortunately, her other two brothers couldn’t make it from the Philippines, and we missed them.

Almost everyone has returned already, except her parents, who are staying until Saturday.

I was sitting at the kitchen table with my father-in-law last night, talking about various goings-on in the world, but especially about this Venezuela thing. As someone well acquainted with Americans in his country, Papa was interested in what I thought.

I said, “Papa, I couldn’t vote for Trump because I’m not an American citizen anymore, but I would have. I would’ve wanted him to cut the deficit, stop heading into wars, and control the border. He’s only done one of these three things. So like many investors, if I can’t get what I want at the ballot box, I find a way to make money off all the stupid mistakes the government invariably makes.”

He chortled hard, as he has to put up with the newest incompetent Marcos Administration in the Philippines.

But before I reiterate some great ideas, let me tell you what NOT to listen to.

Glenn Beck is Delusional

I was never really into Glenn Beck. This tweet confirms that I was right.

Credit: @glennbeck

I can’t tell you how idiotic this take is.

First, if you think China won’t buy every spare barrel of Russian oil, you’re crazy.

But besides the fact Russia will be happy to step in, here are some stats about Venezuelan exports to China:

• In 2024–25, Venezuela's total crude exports were around 650,000–900,000 barrels per day (b/d), with a rising trend into late 2025 as PDVSA pushed production and exports higher.
• China became the dominant buyer in 2025. Between 55% and 90% of Venezuelan exports went to China, with some months (for example, November) showing about 746,000 b/d heading to Chinese refiners.
• For China, Venezuelan crude was material but not critical: imports averaged about 470,000 b/d in 2025, roughly 4–5% of China’s seaborne crude intake. It mainly was heavy Merey-type barrels for independent and state-backed refiners.

And The Donald has already said he’ll sell Venezuelan oil to anyone. Of course, that would be in dollars instead of yuan. Sure, this will cost China some money in the short term, but it won’t dent China’s manufacturing or energy capacity.

Second, if anything, Xi is negotiating with Trump through Putin. Yes, the U.S. now “controls” (their word, not mine) Venezuela. Therefore, China and Russia are no longer factors there. But in return, the U.S. almost certainly told Putin the U.S. will slowly back out of Ukraine and Xi that the U.S. will stop interfering with Taiwan. If anything, the Big 3 will sacrifice Ukraine and Europe and leave them poor (until the inevitable German-Russian rapprochement), and China will reunite with Taiwan, Hong Kong style.

The “Donroe Doctrine” works both ways: Europe and Asia don’t interfere in the Western Hemisphere… and the U.S. stays out of the Russian and Chinese spheres of influence.

Next, there’s simply no way to know what the Chinese will invent over the next five to ten years. So, extrapolating that China will not dominate AI from the invasion of Venezuela is nonsensical.

Finally, sure, it looks like there won’t be a BRICS alternative currency. That’s because it’s called “gold.”

But besides gold and silver - and our miners having a lovely day yesterday - where can we also look to make some hay?

Paradigm’s Boys Do It Again

The Daily Reckoning’s Adam Sharp and I have been banging the silver drum for a while now. But I want to direct your attention to two recent articles that got it bang on.

Most recently, our good friend and colleague Byron King wrote for the Rude “A Copper Melt-Up in 2026, and ‘Tech' Meltdown.”

Since President Trump lifted the copper tariffs that had sent the red metal crashing, we’ve seen an incredible rally to $5.93 per pound.

Byron had written:

Not long ago, I was on the phone with a friend who has spent many years working in the copper industry. He has skin in the game, with a series of half-billion-dollar (each) copper development projects in Brazil, Peru, and Chile. 

“I’m planning on copper at over $12,000 per tonne this year,” he said. 

I did some easy math in my head and replied, “So, copper over $6.00 per pound?”

“That’s my target,” he replied. “It’s already over $5.25 and breaking to the upside.”

A great call, and we’re nearly there already.

Byron also recommended Freeport McMoran (FCX) in the same note. It was trading at $49 then. We’re up to 54.41, an 11% gain.

In the Daily Reckoning, new friend and colleague Matt Badiali wrote, “This Common, Overlooked Metal will Soar in 2026” on December 20th. That common, overlooked metal is aluminum (or aluminium, for the Brits).

What a chart aluminum has!

In the same piece, Matt recommended Alcoa (AA):

Since Matt’s recommendation, AA has rallied nearly $10!

So it’s not just gold, silver, platinum, and palladium. Copper and aluminum are partying like it's disco time in the 1970s. Bring back the BeeGees and ABBA!

Wrap Up

The invasion of Venezuela will do nothing to quell the price rises in the metals, whether they’re precious or base. Sure, we’ll see some volatility, but the supply/demand imbalances, especially in silver, copper, and aluminum, aren’t going away anytime soon.

Stay long, my friends. And don’t let the news cloud your views.