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A comment on Tether executives said to face criminal probe into bank fraud. Parent comment

Re:Tether executives said to face criminal probe into bank f... by staplers on Monday July 26, 2021 @05:19PM (#27965643)
Most bank notes aren't "backed by anything". Reserve requirements are now zero for banks.

Source: https://www.federalreserve.gov/monetarypolicy/reservereq.htm

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Re:Tether executives said to face criminal probe into bank f... by acheron on Monday July 26, 2021 @11:02PM (#27968178)
You have to pay the taxman on April 15. He’s going to want US dollars. If you don’t pay up, the men with guns come.

That’s “backing” more real than shiny yellow metal.

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Re:Tether executives said to face criminal probe into bank f... by staplers on Thursday August 05, 2021 @02:31PM (#28077652)
So one could say the US dollar is backed by violence? Also, you didn't address reserve requirements.
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Re:Tether executives said to face criminal probe into bank f... by killingtime74 on Monday July 26, 2021 @05:24PM (#27965689)
Government is something. They can tax and print money.
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