I would agree with that statement. Instead of blaming the corrupt govts, what we have instead is the corrupt govts displacing the blame on the “speculators”.
I’m sure there have been distortions due to speculation but I tend to think that any cure is likely worse than the original disease.
The word “distortion” implies there is some “correct” price that actors in the market have moved away from. What is the correct price at any point in time? You can’t tell me. Only a market, open to anyone who wants to participate can find the price.