MOVING FROM THE LEDGER TO THE REAL WORLD

The 'tourist straps in with a big gold call

I’ve had this piece half-written sitting in my inbox for a week now. Although it is a long-term theme, in my heart, I’m still a trader, and I couldn’t bring myself to hit publish amid what I thought was a ridiculous commodity scramble.

But now that oil is $35 lower from that panicky Sunday night gap, and the Bloomberg Commodity Index has lumped off almos…