About this episode
Just beneath the surface of the global economy, there is a hidden layer of dealmakers for whom war, chaos, and sanctions can be a great business opportunity. In this updated episode from 2025, journalists Javier Blas and Jack Farchy help us shine a light on the shadowy realm of commodity traders. SOURCES: Javier Blas , opinion columnist at Bloomberg News. Jack Farchy , energy and commodities senior reporter at Bloomberg News. RESOURCES: The World For Sale: Money, Power, and the Traders Who Barter the Earth's Resources , by Javier Blas and Jack Farchy (2021) The King of Oil: The Secret Lives of Marc Rich , by Daniel Ammann (2010). EXTRAS: " How the Supermarket Helped America Win the Cold War (Update) " by Freakonomics Radio (2024). " The First Great American Industry ," by Freakonomics Radio (2023). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.