In my last article, I also outlined that while backwardation is bullish it is a lousy timing mechanism. This study on volatility confirms this premise.

Just because a market goes into backwardation does not mean it will stay there beyond an instant, a few hours, several weeks, or in the latest case six months.

In the wake of the Crypto World exchange/banking debacle, it is time to revisit two old sages and personal mentors, Edward C. Harwood and Richard Timberlake.

A sound bank making sound loans is able to purchase the standard used (whether gold or bitcoin) for redeemability which in turn benefits and rewards the decentralized HODL.