Why #futures are poison for any asset and definitely for #gold, #silver and #Bitcoin

Tweet storm :
Since many #commodities have limited elasticity in supply, the #futures markets - and specially those that don’t require settlement in the underlying asset - are there to create artificial, in principle unlimited supply.
They are the main and key instrument for controlling the price of an asset by pumping up virtual supply of an asset in amounts that simply don’t exist in reality.
That way the price of any asset that is deemed a threat to the financial establishment (such as #gold, #silver, #bitcoin, ..) can be arbitrarily controlled (read: suppressed) to the extend that investors will loose confidence in such an asset ...
and are thereby compelled to invest in assets that are more pleasing to financial establishment and #governments (such as company #stocks).
This appears to be the main reason for the @SECGov to approve of a #Bitcoin #Futures #ETF and not a Bitcoin Spot ETF. Since demand for a Bitcoin Spot ETF obliges the issuer to buy the underlying asset, that demand will lead to an increase of the Bitcoin price.
Demand for a #Bitcoin #Futures #ETF however will NOT necessarily translate into buying pressure in the Spot market, because the price difference at maturity will simply be settled in #dollars (or other #fiat currency).
On top, the large amount of “future #bitcoin” thus created can then be bought up by these #market controlling parties and sold in mass amounts (that don’t exist in reality) and thus destroying the price of the asset.
These mechanisms have been in play in the precious metals markets (#gold, #silver) for years, even decades. The gold price, if measured by any pre-1972 standard would be in the 10-s of thousands of dollars per ounce by now.
One great concern at this point in time is that #financial establishment and their “market regulator”-lackeys have started applying the same mechanism to suppress the #Bitcoin price, ...
.. as evidenced by the #SEC’s stubborn refusal to approve a #Bitcoin Spot #ETF, while allowing several Bitcoin #Futures ETFs.
All in the name of “investor protection”. That may be true, the question is however, WHICH #investors? Not you and me, not the retail investor - that’s for sure.

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