I think you seriously underestimate the impact that currency valuation has on commodity prices. The author of this article is right on target when he compares today’s economic climate in the U.S. to the 1970s. Actually, he should be more specific. It’s 1973 all over again, so we haven’t even begun to see the effects of inflation.
I WAS here in the USA in 1973, so I do remember.
Today is nothing like 1973.
Perhaps if someone imposes price controls and imposes government run socialized medicine like some other countries, we might retrace those steps.
I am curious, how old are you?