When people pay the price that speculation adds to goods, they receive nothing for it. They must work to earn the money, yet receive nothing for that money. Working without receiving anything in return is usually referred to as slavery. It seems odd indeed to equate slavery with freedom. Paying for the added costs of speculation closely resembles paying bribes, extortion, blackmail, or protection money.
Speculation is nothing more than kidnapping an object and holding it for ransom.
By definition free enterprise must produce something of value. If it does not, it is not free enterprise. Speculation does not produce anything of value, therefore it cannot be free enterprise. Since speculation has the same economic and social effects as robbery, to claim that free enterprise cannot exist without it seems to say that free enterprise is a kind of theft. I've been led to believe that free enterprise is possible without theft.