4 ms·

If I buy some of their petrodollar cryptocurrency what is the mechanism which I can redeem it for oil? If I'm willing to pay shipping will they send me a barrel

• mhotchen 8y ago
  I mean in theory there are a lot of people who trade in oil or precious metals who aren't interested in actually acquiring the resource physically. There are plenty of people that are looking to arbitrage that don't necessarily want the raw resource. The same goes for the FX market. You're right in asking if you can even get it though. I don't actually have the answer to your questions. I'm sure this is just a story, but it's relevant to your comment: https://thedailywtf.com/articles/Special-Delivery https://thedailywtf.com/articles/Special-Delivery Also note: I don't disagree with you, there's no way I'd be touching a pretrodollar.
  • MBCook 8y ago
    There was an episode of Planet Money in the last few years where they bought a commodity and then tried to go collect it. Can’t remeber if it was oil or corn or what.