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There's a major difference between fractional reserve banking and printing money. The former is a well-understood and well-regulated practice that actually driv
by LargeWu 9y ago
There's a major difference between fractional reserve banking and printing money. The former is a well-understood and well-regulated practice that actually drives economic activity. The latter is likely what Bitfinex is doing with Tether, is 100% counter to their stated practices, and serves only to artificially drive up the price of other assets.
- whataretensors 9y ago> The former is a well-understood and well-regulated practice that actually drives economic activity There's a lot of money in convincing people this is true but I have my doubts.
- LargeWu 9y agoCare to enumerate your doubts? It's a pretty well established concept in economics.