As usual, a fly-by-night "e-journalist" has trouble understanding what a futures market is.
Their argument is hinged on "speculators" cornering the market for Bitcoin, in addition to the usual conspiracy-theory of "pump-and-dumps". Naturally, if you had done your research before writing such an article, you'd know that not all futures contracts settle in the underlying commodity.
The S&P 500, traded on the Chicago Mercantile Exchange, is settled in cash -- you don't get 500 stock certificates if you choose to hold until expiration of the futures contract. With no underlying to "squeeze", there is no "corner" possibility, just contracts that are settled at the appropriate date and time.
It is a mish-mash "article" full of the usual paranoia and ill-informed opinions of a marketplace, written by a fool who couldn't be bothered to use fucking spell-check in his first paragraph.
I'd refrain from posting any more "articles" from this source, as it seems to be of D-Grade "blogger" quality, with not much to back it in the way of research.
Their argument is hinged on "speculators" cornering the market for Bitcoin, in addition to the usual conspiracy-theory of "pump-and-dumps". Naturally, if you had done your research before writing such an article, you'd know that not all futures contracts settle in the underlying commodity.
The S&P 500, traded on the Chicago Mercantile Exchange, is settled in cash -- you don't get 500 stock certificates if you choose to hold until expiration of the futures contract. With no underlying to "squeeze", there is no "corner" possibility, just contracts that are settled at the appropriate date and time.
It is a mish-mash "article" full of the usual paranoia and ill-informed opinions of a marketplace, written by a fool who couldn't be bothered to use fucking spell-check in his first paragraph.
I'd refrain from posting any more "articles" from this source, as it seems to be of D-Grade "blogger" quality, with not much to back it in the way of research.
Thanks for saving my time, I enjoyed reading your version.
