Re:Tether ordered to produce documents showing backing of US...
by lern_too_spel on Wednesday September 21, 2022 @03:37PM
(#32930401)
A ponzi can keep going indefinitely if all the investors HODL without cashing out and no regulators check the books to trigger a run. As soon as enough people try to cash out their paper returns, the scheme unravels very quickly.
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Re:Tether ordered to produce documents showing backing of US...
by andirk on Wednesday September 21, 2022 @05:52PM
(#32932017)
I agree, but we can't all cash out all of our money from US banks either. That much money simply does not exist. These comments have a lot more faith in FDIC than me, so maybe I'm missing something.
Re:Tether ordered to produce documents showing backing of US...
by cool_dude85 on Wednesday September 21, 2022 @06:40PM
(#32932528)
Maybe you have missed the US government's reputation of paying its debts and the FDIC's near 100 year history of paying out? It's hard to miss but I'm sure for some people it's possible.
Re:Tether ordered to produce documents showing backing of US...
by wbl on Wednesday September 21, 2022 @09:28PM
(#32933823)
Hey I was alive for the two times the US got within days of default for silly reasons.
Re:Tether ordered to produce documents showing backing of US...
by andirk on Wednesday September 21, 2022 @09:09PM
(#32933682)
Everyone has cashed out all of their money from US banks? Yes, I did miss that. Your insult is that FDIC has worked when this or that bank goes under before, and I never negated that.