Commodities have just hit a 10-year high for the month of February.

Even the massive commodities boom that ran through 2007 and 2008 didn't top the levels we're seeing right now.

The benchmark for this high is the Standard & Poor's GSCI Commodity Index, which includes everything from oil and lead to cocoa and lean hogs.

And not only has the index set a new February high, it's poised to rise over the next two months, based on the traditional seasonality of its underlying commodities.

Have a look for yourself…

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This chart shows the average values for the S&P GSCI Commodity Index over the last five years. As you can see, commodities prices tend to rise as we head into the spring before sliding down in the fall. So if history is any indication, this commodities price rally is just getting started.

So what's driving this action?

By Jean Folger

In 1859, the first oil well was dug by Edwin Drake. Drake distilled the petroleum to make kerosene for lighting, discarding the other byproducts. More than 20 years later, with the invention of the automobile, gasoline was recognized as a valuable source of fuel. By 1920, more than 9 million gas-powered vehicles were on the road.

Gasoline is one of the world’s most widely-used commodities and is a byproduct of crude oil. In the United States, where gasoline is used in cars and light trucks, boats, recreational vehicles, and farm, construction and landscaping equipment, consumption was equal to about 360 million gallons per day during 2011 – about one gallon each day for every person in the United States. The United States does not produce enough crude oil to match this demand for gasoline, and as a result, imports about 60% of the crude oil used

This article considers two different investment strategies: One for those that want to get wealthy, and one for those that want to stay wealthy.

It goes without saying that the investment strategy of someone looking to make a lot of money is going to be significantly different from that of someone looking to preserve their wealth for future generations.

First let's consider the asset allocation of someone looking to make money.

Chart 1: Asset allocation for getting wealthy

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As I have argued before, those looking to make a great deal of money must identify a secular trend, and follow that trend until it comes to an end. The dominant trend today is that of currency debasement as a remedy for faltering economic growth and chronic indebtedness. As this trend continues, I expect precious metals, and the companies that mine them, to continue to benefit.