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I mean, at this point they openly admit they have Chinese commercial paper in their 'reserves.' Makes sense since undoubtedly the vast majority of those reserv

I mean, at this point they openly admit they have Chinese commercial paper in their 'reserves.' Makes sense since undoubtedly the vast majority of those reserves are inflows from Chinese nationals looking to export capital, but kinda shocking the crypto community is letting them get away with this. Evergrande et al show that even CP in China is anything but risk free, regardless of the notional currency.

unmole 5y ago
> Makes sense since undoubtedly the vast majority of those reserves are inflows I don't quite follow. How does a Chinese national move money outside China by issuing commercial paper? Edit: Do you mean something like issue commercial paper and then use proceeds to buy Tether?