Scheming Onions

From Today I Found Out.

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In this video:

Remember that scene in the movie Trading Places where Eddie Murphy and Dan Aykroyd bankrupted those two old rich guys by cornering the frozen orange juice market? It turns out that a guy actually once did make many millions of dollars by doing pretty much exactly as they did in the movie, only instead of orange juice, he bought onions… millions upon millions of onions. Besides getting filthy rich in his clever little scheme, he inspired the Onion Futures Act, which banned selling onion futures in the United States. We can’t make this stuff up…

Want the text version?: http://www.todayifoundout.com/index.php/2014/04/vincent-kosuga-onions/

Sources:

http://www.pineislandny.com/Scrapbook/0048_sp_sm.pdf
http://jedmorey.com/2011/onions-and-oil/
http://books.google.co.uk/books?id=NLLRjRVY7NcC&pg=PA81&lpg=PA81&dq=Vincent+Kosuga&source=bl&ots=b6fd8OQ0-i&sig=Hiq6ocbqQpMMZ4ZplhyREE29Oak&hl=en&sa=X&ei=9dJPU4CeI-T00gWV1oCYBg&ved=0CIABEOgBMAw#v=onepage&q=Vincent%20Kosuga&f=false
http://books.google.co.uk/books?id=T5vAZRnZgNcC&pg=PA41&lpg=PA41&dq=Vincent+Kosuga&source=bl&ots=cotqMVjHc2&sig=X6bubQK-jisYLa3OI92RULhl7Uo&hl=en&sa=X&ei=eNNPU_6rKoKm0QWAsYHADg&ved=0CHQQ6AEwCDgK#v=onepage&q=Vincent%20Kosuga&f=false
http://magazine.good.is/articles/the-great-chicago-onion-ring-why-selling-onion-futures-is-against-federal-law
http://www.investopedia.com/university/shortselling/shortselling1.asp