governments own a lot of gold but but governments and central banks do not own large inventories of bitcoin in fact most of them probably own zero bitcoin right now so what they can do they can play around with the futures especially the cash settled futures the big ones are the ones that trade in chicago and the merc the cme they can short cme cash settled bitcoin futures and try to drive down the price of bitcoin futures and then there's this link between the spot price the cash price of real bitcoin and then the futures which is another form of paper bitcoin and so they can try to suppress the market this way they can also print up a lot of dollars to fund their margin positions to post margin at the futures exchange but even gata admits that this is not what is keeping been keeping down the price of gold and so the way they do it with gold there's a lot of gold as we mentioned lbma where the lpma warehouse and they also almost certainly do fake accounting to balance their books there they're able to play around with allocated and unallocated gold inventories to allow more naked shorts than would otherwise be allowed but even with all of this you can't do this with bitcoins and simply because there's no lbma for bitcoin they're not uh central banks do not warehouses full of bitcoin there's nothing like a bitcoin fort knox where supposedly the the us's gold is stored now there's there there will never need to be the centralization of bitcoin either and the reason for this satoshi was very smart he saw what had happened to gold had become how it had become captured by central banks and governments and it was very easy to capture gold because physical gold is very heavy it's difficult to move around and store which leads to a lot of centralization it makes it makes a lot of sense from the perspective of energy and and um being and security to keep a lot of gold in one place and then to guard that place really carefully and this is how fort knox functions as well but this was ultimately this this property of gold led led to the centralization of gold which led to the capture of gold and thus the end of the gold standard we had the government capture of gold in NUMBER_TOKEN in the u.s when president roosevelt confiscated all the gold held in u.s banks this was executive order NUMBER_TOKEN and then he put the gold in fort knox this also made it really easy for the u.s to abandon the gold standard in NUMBER_TOKEN. now we've been going through a period the last couple years where bitcoin is being actively centralized on exchanges like coinbase and so we don't want this to happen that happened to bitcoin in the way it happened to gold this sort of centralization of bitcoin on the exchanges and there's no reason for this gold i'm sorry bitcoin does not need to be centralized to be able to be stored it's very easy to store in small amounts and also move around in large amounts so this is why if we don't want bitcoin to become centralized on the exchanges and everyone just leaving their bitcoin in their apps or on the exchanges on coinbase or kraken or binance it's very important as we've been talking about for the past few months to withdraw your bitcoin from exchanges and hold it on a hardware wallet yourself because this sort of centralization of bitcoin on the exchanges
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