As I read it, that's a promise to users, not a statement about their balance sheet. It does not preclude the situation 'Animats is talking about, where they cur

As I read it, that's a promise to users, not a statement about their balance sheet. It does not preclude the situation 'Animats is talking about, where they currently have less BTC than they credit their customers with, but they plan to make it up somehow before it becomes a problem.