Goldbug ping.
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http://www.youtube.com/watch?v=jbkSRLYSojo
The fact is, a majority of the human race has figured out that they don't have to be poor. This is a very good thing. No guarantees, however, that the transitions required will be easy.
China by the end of the next decade will not only have the world's largest economy; it will have a middle class population larger than the entire population of the U.S.
And within another ten years, China will be eclipsed by India.
The fact that, in the long term, we will continue to use commodities seems rather unexceptional.