> The Bank of Japan and the large banks in Japan operate one giant, corrupt, stupid oligarchy. Boy when you find out how Tether and the crypto markets operate,

> The Bank of Japan and the large banks in Japan operate one giant, corrupt, stupid oligarchy. Boy when you find out how Tether and the crypto markets operate, you're going to be pretty disappointed. Somehow they've managed to create a more corrupt and stupider oligopoly by all measures. Make no mistake central banks themselves aren't threatened by all this. What they are, is by charter, responsible for managing the fall-out. The charter of central banks tends to be to manage the money supply to create a low and predictable rate of inflation over medium timeframes - and to maximize employment. If enough people tank the economy by buying Paolo's Bahamian Funbucks, the broader economy can in fact suffer and it will then cause the central banks to have to step in to carry out their mandates. Just like 2008. > It’s the insane incompetence of these entities, and witnessing it first-hand, that made me realize that non-bank crypto/digital currencies and stores of value are going to end up winning. This is just tinfoil hat economics. Citation needed. And remember, extraordinary claims require extraordinary evidence.