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A comment on The World’s Biggest Crypto Firm Is Melting Down. Parent comment

Re:The World’s Biggest Crypto Firm Is Melting Down by vagab0nd on Tuesday September 26, 2023 @10:45AM (#37660189)
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.
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Re:The World’s Biggest Crypto Firm Is Melting Down by JumpCrisscross on Tuesday September 26, 2023 @11:16AM (#37660601)
> 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)

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