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#T3BE 302 - Full Question Text for Patrons (Patreon)

Published:
2022-11-11 04:59:01
Imported:
2023-01

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John Otto

C! 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
>>95459542

100% not joking. That is what makes Thomas trying to get more details funny. It doesn't matter because onions.

Anonymous
>>95459542

Good 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.

Anonymous
>>95459542

Well 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

Anonymous
>>95459542

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