Torsten Dennin’s Useful Books are in the weekend section today, from tulips to Bitcoins. The history of speculation on commodity exchanges.” Current book.
Commodity markets are always interesting!
We see what is happening with bitcoin today, as, obviously, US stablecoins are being prepared as some kind of alternative to traditional fiat money.
We see what is happening in the gold, silver, and oil markets. The precious metals markets are perceived as the last clear haven. But is it true?
And by 2030, the world is facing a food crisis. What does the history of commodity exchanges show us?
Torsten Dennin is a professor of economics and a member of the Berlin Institute of Finance, Innovation and Digitalization. With decent experience in the commodity markets.
The book “From Tulips to Bitcoin” tells about the most interesting speculative stories on commodity exchanges, from tulip mania in the 17th century to Bitcoin today.
Now, silver is growing out of control, so the book contains the story of “Silver Thursday” – the collapse in silver prices on March 27, 1980, when the Hunt brothers’ attempt to monopolize the market failed due to changes in trading rules, which caused a real panic on the stock exchanges and a lot of bankruptcies.
There are stories of large commodity traders, such as Glencore, making the market relatively flexible and beyond the control of the United States or anyone else. Again relevant.
It also tells about the rare earth elements that are popular today, which began to seriously influence the market in the 2010s.
It also describes the evolution of the battery metals market.
Speculation in food products such as rice, wheat and sugar.
About the diamond market, which was collapsed in 1979 by De Beers (the main monopolist to this day).
In general, commodity exchanges are usually at the junction of a number of megatrends, such as demography, climate change, the pursuit of resources, electrification and digitalization. That’s why it’s always about the future.
Since the author represents the Western part of the financial world, there is some bias, but it does not interfere. The point is, it’s a comprehensive overview of the history of commodity speculation. Don’t you agree with him? You can read it and figure it out on your own. As a guideline in the topic, the book is very useful. Therefore, of course, I highly recommend studying it. Torsten Dennin “From tulips to Bitcoins. The history of speculation on commodity exchanges.”
