There is no proxy for the exact current global commodity situation, though it looks familiar at this juncture. Petroleum is arguably being over-produced, as are major crops like corn, wheat and soybeans. Each of the aforementioned are at or near record carryover. In the historical boom/bust cycle of commodities – something must and will change.  Oil prices peaked in the 1970’s at the same time inflation pushed up the value of gold, and then notably collapsed. In July 1973, an ounce of gold could buy 33 barrels of oil. The perceived shortage affected producers of lots of different commodities, causing overinvestment, consequently over-production and ultimately a collapse in values. By January 1974, that same ounce would buy...