The family has gathered at the dinner table. No devices allowed, so the boys are forced to have this thing called conversation. Which means they are sharing random, fascinating facts.
Nilay claims that in the US, one guy once bought all of the futures on onions. Because of this, a law exists that bans all futures trading in onions.
At this point Kavin wants to know what futures are. Medieval fellow. We will bring him up to speed later. At the moment I'm concerned about the veracity of this information. So I Googled.
Ladies and gents, I present to you the United States Onion Futures Act of 1955. Fascinating reading. Largest economy in the world has arbitrarily blocked speculation in just one commodity, because someone took the free market for a ride.
If you want to understand why the protesting farmers are smarter than most of middle class India, just read through this page. And remember that all those farmers have relatives from Bakersfield to Toronto. Those fellows living in the largest economies in the world have already seen shit like this go down, again and again.
Nilay claims that in the US, one guy once bought all of the futures on onions. Because of this, a law exists that bans all futures trading in onions.
At this point Kavin wants to know what futures are. Medieval fellow. We will bring him up to speed later. At the moment I'm concerned about the veracity of this information. So I Googled.
Ladies and gents, I present to you the United States Onion Futures Act of 1955. Fascinating reading. Largest economy in the world has arbitrarily blocked speculation in just one commodity, because someone took the free market for a ride.
If you want to understand why the protesting farmers are smarter than most of middle class India, just read through this page. And remember that all those farmers have relatives from Bakersfield to Toronto. Those fellows living in the largest economies in the world have already seen shit like this go down, again and again.