It's actually much, much worse than that. Tether, by misrepresenting its reserves, essentially "prints" money by faking the peg. This was already done in the ov

It's actually much, much worse than that. Tether, by misrepresenting its reserves, essentially "prints" money by faking the peg. This was already done in the overnight lending markets by huge financial institutions abusing the fractional reserve system, but at least there's a tiny facade of regulation on that side.* *https://press.uchicago.edu/ucp/books/book/chicago/M/bo22438821.html https://press.uchicago.edu/ucp/books/book/chicago/M/bo224388...