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Even more damning is this: > about $30 billion of its dollar holdings are invested in commercial paper—short-term loans to corporations. That would make Tether
by dustintrex 5y ago
Even more damning is this:
> about $30 billion of its dollar holdings are invested in commercial paper—short-term loans to corporations. That would make Tether the seventh-largest holder of such debt, right up there with Charles Schwab and Vanguard Group.
"Would", because nobody in those markets has seen them.
- HillRat 5y agoAt some point I suspect that they’re going to be exposed as holding billions of dollars in ultra-high-risk junk Chinese ABCP. Even before the current economic and political climate, that stuff was toxic — you can buy dodgy SCP for about a penny on the dollar given how poorly regulated the China commercial debt market is.
- reactspa 5y agoThis is sounding eerily like the Jeffrey Epstein case, where he was this storied super-successful trader and speculator, but there was no paper trail of the trades that made him into a billionaire.