There's a whole futures market for, well, not futures market necessarily, but there's a... How do you take delivery? Like, are you familiar with delivery, and then holding it until expiration? I mean, you don't have to receive these things. You have to have a bottle of Dasani water, like it's a vintage. And how is that any different from oranges? Water's heavy and it's not valuable for per unit of weight as... Those metals ...or oranges are.
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The exchange of goods and services has existed since the earliest forms of civilization, from simple barter arrangements at the local town square to Phoenician traders navigating the Mediterranean with goods from Europe and North Africa. Today, however, the scope of exchange is truly massive, with online commerce coming to dominate nearly all segments of retail, and the scale encompassing transoceanic trade routes totaling 11 billion tons in maritime cargoes in 2021. Underpinning all this lies an extremely complex web of producers, shippers, pipelines, warehouses, and commodities traders that include the massive concerns such as Koch Industries in energy and Glencore in metals, with over 100,000 employees each. Billions of dollars have been made and lost in commodities futures, and as volatility continues to disrupt prices of everyday items from gasoline to grain, the trend of ever tighter global trade integration seen since the end of the Cold War may start to unravel as regional blocks choose to have closer and more reliable supply chains.
