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To be fair, there are a lot of ag goods that don't have futures markets



Planet Money had an episode about that recently. https://www.npr.org/sections/money/2015/10/14/448718171/epis...


Obligatory https://astralcodexten.substack.com/p/the-onion-knight

Edit: damnit, it's subscriber only; here's an excerpt

   My cryopod popped open, 
   revealing a man in a silver 
   jumpsuit. "Welcome to the 
   future! Here's your onion."

   [...]


   The brain's first strike had 
   decimated the human populace. A 
   few survivors, remembering the 
   AI's blind spot, had made it to 
   the onion capital of the world 
   - Vidalia, Georgia. There a 
   biohacker had used the last 
   working CRISPR systems to 
   create a strain of colossal 
   onions, hundreds of feet in 
   diameter. The remnants of 
   humanity huddled inside their 
   onion domes, ignored by the 
   triumphant machines.


   The next steps required the 
   ability to move freely, outside 
   the domes. In the dying years 
   of the human economy, people 
   had experimented with 
   tokenization of regulated 
   products. Casinos had tried to 
   argue that their customers 
   weren't gambling with money, 
   they were merely gambling with 
   tokens that could be trivially 
   exchanged for money. 
   Decentralized financial markets 
   insisted that sure, you had to 
   have a license to trade stocks, 
   but they were just trading 
   tokens that could be trivially 
   exchanged for stocks. The 
   government hadn't bought it: 
   any token representing an 
   object is legally equivalent to 
   the object. So the huddled 
   remnants of humanity set out 
   turning people into a token 
   representing onions.


And motion picture box office receipts. Fascinating.




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