You are being downvoted but I think there's some truth. I'd like to see counter arguments. One that I can think of is the difference in intent. Tether is for profit and the FED is to stabilize the economy.

> I think there's some truth. I'd like to see counter arguments.

The history of money and banking. Starting with John Law [1], and why private, leveraged money requires a public backstop.

[1] https://en.m.wikipedia.org/wiki/John_Law_(economist)

Replacing an imperfect implementation with one that has demonstrated time and time again it's far worse should never be the solution. Crypto has languished in obscurity (other than gambling, scams, and criminality) for 15 years because anyone who isn't in the cult (or hyping their "bags") can see how obviously ridiculous it is.

It's been clearly and obviously explained to death for crypto people where the value of fiat comes from and it's not a "debate" I'm interested in rehashing.

Fiat money is backed by guys with guns. Tether is not.

Guys backed with guns funded by fiat (tax revenue).

It's unbelievable to me that crypto people don't see/understand/refuse to acknowledge the huge difference.

"It is difficult to get a man to understand something when his salary depends on his not understanding it."

Or (in this case) their gambling.