The World for Sale : Money, Power, and the Traders Who Barter the Earth's Resources

The modern world is built on commodities - from the oil that fuels our cars to the metals that power our smartphones. We rarely stop to consider where they have come from. But we should. In The World for Sale, two leading journalists lift the lid on one of the least scrutinised corners of the world economy: the workings of the billionaire commodity traders who buy, hoard and sell the earth's resources. It is the story of how a handful of swashbuckling businessmen became indispensable cogs in global markets: enabling an enormous expansion in international trade, and connecting resource-rich countries - no matter how corrupt or war-torn - with the world's financial centres. And it is the story of how some traders acquired untold political power, right under the noses of western regulators and politicians - helping Saddam Hussein to sell his oil, fuelling the Libyan rebel army during the Arab Spring, and funnelling cash to Vladimir Putin's Kremlin in spite of western sanctions. The result is an eye-opening tour through the wildest frontiers of the global economy, as well as a revelatory guide to how capitalism really works. Two journalists expose one of the least scrutinized corners of the world economy: the workings of the billionaire commodity traders who buy, hoard, and sell the earth's resources. It is the story of how a handful of swashbuckling businessmen became indispensable cogs in global markets, enabling an enormous expansion in international trade, and connecting resource-rich countries - no matter how corrupt or war-torn - with the world's financial centers. It is also the story of how some traders acquired political power under the noses of western regulators and politicians, helping Saddam Hussein to sell his oil, fueling the Libyan rebel army during the Arab Spring, and funneling cash to Vladimir Putin's Kremlin in spite of western sanctions. This book is a tour through the wildest frontiers of the global economy, as well as a guide to how capitalism really works The World for Sale lifts the lid on one of the least scrutinized corners of the world economy: the billionaire commodity traders who buy, hoard, and sell the earth's resources. It is the story of how a handful of swashbuckling businessmen became indispensable cogs in global markets, enabling an enormous expansion in international trade and connecting resource-rich countries - no matter how corrupt or war-torn - with the world's financial centers. The result is an eye-opening tour through the wildest frontiers of the global economy, as well as a revelatory guide to how capitalism really works. -- Provided by publisher Commodity traders buy and sell the basic resources that nearly everyone in the world needs: oil, metals and grains, among others. They are known for making deals in parts of the globe where no one else could or would - taking massive risks, making vast fortunes and influencing the course of geopolitics. In this entertaining and informative book, shortlisted by The Financial Times as one of the best of 2021, financial journalists Javier Blas and Jack Farchy delve into the often-daring history of this little-known sector of the financial industry to tell the tales of its colorful traders Contents Introduction: The Last Swashbucklers 1. The Pioneers 2. The Godfather of Oil 3. The Last Bank in Town 4. Paper Barrels 5. The Fall of Marc Rich 6. The Biggest Closing-Down Sale in History 7. Communism with Capitalist Influences 8. Big Bang 9. Petrodollars and Kleptocrats 10. Destination Africa 11. Hunger and Profit 12. The Billionaire Factory 13. Merchants of Power Conclusion: A Lot of Skeletons Acknowledgements Appendices Notes Index