4 ms·
The good thing about Tether is that you can look at Tether, then look at the Federal Reserve's behavior. Tether throws into sharp relief the excess of the Fed.
by shrubble 4y ago
The good thing about Tether is that you can look at Tether, then look at the Federal Reserve's behavior.
Tether throws into sharp relief the excess of the Fed.
- jazzyjackson 4y agothe fed never promised they were backed by cash
- onlyrealcuzzo 4y agoAlso, the Fed doesn't print money to buy coke in hookers. It prints money so the US government can use it (you can argue to what degree that is waste). But the Fed's balance sheet is solid and highly liquid.
- jc_811 4y agoThe Federal Reserve is a US government created organization, with specific public mandates, and has the full backing of the entire US and global financial & monetary systems. Tether is a private company, controlling $67B in assets, with less than 10 FT employees, a CEO who hasn't been seen in public for years, with no transparency into their backing, has been caught lying multiple times in court, and has been involved in multiple civil and criminal investigations. There's no comparison.