Finally, corresponding to the speculative positions held by traders, we would expect to see significant increases in the physical inventories of oil being held for future use. The first indicator, rapid swings of oil prices in response to news about the prospective supplies and usage of oil, does appear to be present and to suggest a speculative element in pricing.
Cash is an exciting and important field of research, which has been the subject of extensive debate, especially of late. For various reasons, academics, policymakers, but also other market players, such as commercial banks, card-issuing companies and internet firms, have been speaking out against cash, with the latter possibly hoping to increase the popularity of cashless payment instruments for their own benefit.