LISTEN NOW: The Onions Are A-Changin
Come gather 'round, people
wherever you roam
And look at the onions
American farmers have grown
You can buy them this evening
and carry them home
But their futures
you won't be trading
There's a law in the books
that won't leave them y are a-changin'
Come writers and critics
who laugh at our stand
Come to the CFTC
with an onion in hand
And don't speak too soon
till you understand
What it is that we're out here demanding
You can trade all your international skim milk powder but your onions are banned
For the times they are a-changin'
Come Senators and Congressmen
please hear the call
Don't stand in the doorway
don't block up the hall
We've got our own onions
enough for you all
And the crowd at the CME is raging
Put the law in the books
or we'll be here all fall
For the times they are a-changin'
Come mothers and fathers
You sent us to Chicago
and now here we stand
With a bag full of onions
and one small demand
The right to do some onion trading
Please get out the way
if you can't lend your hand
For the times they are a-changin'
The line it is drawn
the curse it is cast
There's a crop with no future
and a law from the past
You can take all your time
but the onions won't last
The bags on the streets are decaying
So you better go vote
and you better vote fast
For the times they are a-changin'
@ChairmanSelig @TheStalwart @tracyalloway @mansourtarek_ @luanalopeslara @tamarawinter @SeanCasten @NikkiBudzinski @iampaulgrewal @HereComesKumar @AlmostMedia @FormerCFTCGC @gurgavin @exec_sum @PopBase @LinkofSunshine @pelositracker @pitdesi @CNLiberalism @CMEGroup @drwconvexity @CharlesFLehman @ByrneHobart @tszzl @ajit @BradBourque @PEWilliams_
Come gather 'round, people
wherever you roam
And look at the onions
American farmers have grown
You can buy them this evening
and carry them home
But their futures
you won't be trading
There's a law in the books
that won't leave them y are a-changin'
Come writers and critics
who laugh at our stand
Come to the CFTC
with an onion in hand
And don't speak too soon
till you understand
What it is that we're out here demanding
You can trade all your international skim milk powder but your onions are banned
For the times they are a-changin'
Come Senators and Congressmen
please hear the call
Don't stand in the doorway
don't block up the hall
We've got our own onions
enough for you all
And the crowd at the CME is raging
Put the law in the books
or we'll be here all fall
For the times they are a-changin'
Come mothers and fathers
You sent us to Chicago
and now here we stand
With a bag full of onions
and one small demand
The right to do some onion trading
Please get out the way
if you can't lend your hand
For the times they are a-changin'
The line it is drawn
the curse it is cast
There's a crop with no future
and a law from the past
You can take all your time
but the onions won't last
The bags on the streets are decaying
So you better go vote
and you better vote fast
For the times they are a-changin'
@ChairmanSelig @TheStalwart @tracyalloway @mansourtarek_ @luanalopeslara @tamarawinter @SeanCasten @NikkiBudzinski @iampaulgrewal @HereComesKumar @AlmostMedia @FormerCFTCGC @gurgavin @exec_sum @PopBase @LinkofSunshine @pelositracker @pitdesi @CNLiberalism @CMEGroup @drwconvexity @CharlesFLehman @ByrneHobart @tszzl @ajit @BradBourque @PEWilliams_
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"Meet the college students trying to reverse an obscure ban on trading onion futures," in @MarketWatch
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Thanks for the write up @AlmostMedia!
Day 2118 is about Walla Wall Sweet Onions, liberal regional arts colleges in western rural states, the famed 1958 Onion Futures Act and the unregistered UChicago student protest encouraging its repeal jfredrickson.com/day-2118-and-w…
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HAPPENING NOW in downtown Chicago, outside the Chicago Mercantile Exchange, the historic center of onion futures trading
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On our way!
University of Chicago Students to Protest at Chicago Mercantile Exchange, Demand End to Federal Ban on Onion Futures
Student-led group For Our Futures will rally Monday morning to call for repeal of the 1958 Onion Futures Act
On Monday, October 19, at 8:30 a.m., members of For led organization from @UChicago, will gather outside the Chicago Mercantile Exchange (@CMEGroup) headquarters to demand the repeal of the Onion Futures Act of 1958, a nearly 70-year-old federal law prohibiting futures trading in onions.
The Onion Futures Act, enacted following allegations of market manipulation in the 1950s, singled out onions for a prohibition on futures contracts that remains in effect today. For Our Futures is calling on Congress to repeal the ban and restore the ability of onion growers, buyers, and traders to participate in a regulated futures market. Onions remain the only commodity banned from futures trading in the United States.
The protest will feature a giant inflatable onion costume, protest signs, and dozens of students, and will take place outside the headquarters of CME Group, one of the world's largest derivatives marketplaces and the historic center of American onion futures trading.
DM for details
cc: @pointsnfigures1 @CharlesFLehman @matt_levine @nbcchicago @ABC7Chicago @cbsnewschicago @WGNNews @fox32news @WBEZ @Suntimes @BlockClubCHI @chalkbeatCHI @SeanCasten @mansourtarek_
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Please join us this Monday at the @CMEGroup (Chicago Mercantile Exchange) to rally for justice, financial markets, and onions. We will be arranging transport for @UChicago students.
actionnetwork.org/events/protest…
cc: @TheStalwart @mansourtarek_ @fblawler @chicagophoenix_ @TheOnion rtarek_ @cblatts @CharlesFLehman @ChicagoNewLibs @iampaulgrewal @HereComesKumar @chicagotribune @LinkofSunshine @AjitPai @JakeSheridan_ @BradBourque @Knibbs @matt_levine @mattyglesias @Noahpinion @SeanCasten @pointsnfigures1 @emmma_camp_ @wttw @cbschicago @nbcchicago @WBEZ @Suntimes @chicagotribune
actionnetwork.org/events/protest…
cc: @TheStalwart @mansourtarek_ @fblawler @chicagophoenix_ @TheOnion rtarek_ @cblatts @CharlesFLehman @ChicagoNewLibs @iampaulgrewal @HereComesKumar @chicagotribune @LinkofSunshine @AjitPai @JakeSheridan_ @BradBourque @Knibbs @matt_levine @mattyglesias @Noahpinion @SeanCasten @pointsnfigures1 @emmma_camp_ @wttw @cbschicago @nbcchicago @WBEZ @Suntimes @chicagotribune
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@grok’s answer: “the ban did not clearly reduce swings and likely left them worse”
This graph we made shows the volatility of onions (no futures) vs oil (futures). Interesting!
This graph we made shows the volatility of onions (no futures) vs oil (futures). Interesting!
@grok did Congress ban onion futures in 1958 because it wanted to prevent sudden price swings in onions? If so, based on academic research, did banning onion futures reduce price swings or did it get worse?
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University of Chicago Students to Protest at Chicago Mercantile Exchange, Demand End to Federal Ban on Onion Futures
Student-led group For Our Futures will rally Monday morning to call for repeal of the 1958 Onion Futures Act
On Monday, October 19, at 8:30 a.m., members of For led organization from @UChicago, will gather outside the Chicago Mercantile Exchange (@CMEGroup) headquarters to demand the repeal of the Onion Futures Act of 1958, a nearly 70-year-old federal law prohibiting futures trading in onions.
The Onion Futures Act, enacted following allegations of market manipulation in the 1950s, singled out onions for a prohibition on futures contracts that remains in effect today. For Our Futures is calling on Congress to repeal the ban and restore the ability of onion growers, buyers, and traders to participate in a regulated futures market. Onions remain the only commodity banned from futures trading in the United States.
The protest will feature a giant inflatable onion costume, protest signs, and dozens of students, and will take place outside the headquarters of CME Group, one of the world's largest derivatives marketplaces and the historic center of American onion futures trading.
DM for details
cc: @pointsnfigures1 @CharlesFLehman @matt_levine @nbcchicago @ABC7Chicago @cbsnewschicago @WGNNews @fox32news @WBEZ @Suntimes @BlockClubCHI @chalkbeatCHI @SeanCasten @mansourtarek_
Student-led group For Our Futures will rally Monday morning to call for repeal of the 1958 Onion Futures Act
On Monday, October 19, at 8:30 a.m., members of For led organization from @UChicago, will gather outside the Chicago Mercantile Exchange (@CMEGroup) headquarters to demand the repeal of the Onion Futures Act of 1958, a nearly 70-year-old federal law prohibiting futures trading in onions.
The Onion Futures Act, enacted following allegations of market manipulation in the 1950s, singled out onions for a prohibition on futures contracts that remains in effect today. For Our Futures is calling on Congress to repeal the ban and restore the ability of onion growers, buyers, and traders to participate in a regulated futures market. Onions remain the only commodity banned from futures trading in the United States.
The protest will feature a giant inflatable onion costume, protest signs, and dozens of students, and will take place outside the headquarters of CME Group, one of the world's largest derivatives marketplaces and the historic center of American onion futures trading.
DM for details
cc: @pointsnfigures1 @CharlesFLehman @matt_levine @nbcchicago @ABC7Chicago @cbsnewschicago @WGNNews @fox32news @WBEZ @Suntimes @BlockClubCHI @chalkbeatCHI @SeanCasten @mansourtarek_
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We thank @MickBransfield and @ryanjmccomb for calling attention to our efforts. We are deeply committed to the effort of cultivating global awareness for our cause, and invite you to join us.
A history of the onion futures ban by @ryanjmccomb
One of only two contracts explicitly banned by congress. (The other is not sports, it's movie box office.)
supercycle.blog/p/a-volatile-v…
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Presenting the song of the year: The Ballad of the Onion Man. Please enjoy this original composition by our band of concerned citizens.
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We are going to Northwestern tomorrow to petition for onion futures. We hope you join us at 1:30pm outside the Arch.
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We want to repeal the Onion Futures Act of 1958 — watch this musical explanation to learn why. #onionfutures
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Onions are the only commodity that you cannot trade futures on, leading to immense volatility in the market. This hurts small onion farmers and onion consumers most. We are trying to overturn the Onion Futures Act of 1958 to remedy this injustice. Join us. #onionfutures
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