#T3BE 302 - Full Question Text for Patrons
Added 2022-11-11 04:59:01 +0000 UTC
Comments
Planet Money did an episode on this a while back. https://www.npr.org/sections/money/2015/10/14/448718171/episode-657-the-tale-of-the-onion-king
2022-11-14 22:27:06 +0000 UTCThink it’s A. This wouldn’t be a futures contract I believe, otherwise farmers could not have contracts with wholesalers
What do we want, time travel. When do we want it. That's Irrelevant!
2022-11-12 21:17:39 +0000 UTCWell holy crap! Thanks for the info John Otto. The Onion Futures Act is a United States law banning the trading of futures contracts on onions as well as "motion picture box office receipts". In 1955, two onion traders, Sam Siegel and Vincent Kosuga, cornered the onion futures market on the Chicago Mercantile Exchange. Wikipedia Public law: Pub.L. 85–839 Enacted by: the 85th United States Congress Long title: An act to prohibit trading in onion futures on commodity exchanges U.S.C. sections created: 7 U.S.C. § 13-1
Renee Z
2022-11-12 16:12:09 +0000 UTCGood job. I did not know about this. City girl here. Does it apply if a price is not set in the contract? Thereby making it a distribution contract vs a futures contract.
2022-11-12 14:39:54 +0000 UTC100% not joking. That is what makes Thomas trying to get more details funny. It doesn't matter because onions.
John Otto
2022-11-12 00:44:10 +0000 UTCC! The onion futures act forbids trading onions as a commodity. If he accepts it, that becomes a trade on future onion prices, which is forbidden (along with box office reciepts)
John Otto
2022-11-12 00:43:06 +0000 UTC
