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A comment on Tether Withdrawals Top $10B. Parent comment
Openings like this are not a precursor for anything good, and indeed:
> You're complaining that dollars are created out of nothing - they're not, of course,
No, not "of course". (These conversations would be so much more interesting if people had even a basic knowledge of finance, or a little less ego.)
In fact, Tether increases the US dollar money supply in exactly the same way that Eurodollars do: https://www.investopedia.com/terms/e/eurodollar.asp
(Fractional reserve banking also "creates" dollars.)
Source: spent years writing mathematical models for options and other derivatives on Wall Street before I decided it was evil.
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Openings like this are not a precursor for anything good, and indeed:
> You're complaining that dollars are created out of nothing - they're not, of course,
No, not "of course". (These conversations would be so much more interesting if people had even a basic knowledge of finance, or a little less ego.)
In fact, Tether increases the US dollar money supply in exactly the same way that Eurodollars do: https://www.investopedia.com/terms/e/eurodollar.asp
(Fractional reserve banking also "creates" dollars.)
Source: spent years writing mathematical models for options and other derivatives on Wall Street before I decided it was evil.