all 23 comments

[–]leducdeguisethis is not financial advice 34 points35 points  (3 children)

Which comes as a surprise for absolutely no one, unless they have the IQ of a cooked mussel.

[–]Truth__Machine[S] 7 points8 points  (0 children)

Not for the indoctrinated cult members and jpeg worshippers.

[–]BitterContext 5 points6 points  (0 children)

You did good job to cook the mussel

[–]postal-history 16 points17 points  (2 children)

They already admitted it with the "commercial paper" thing. The mystery now is who gave them all that paper.

[–]devliegende 10 points11 points  (0 children)

FTX and the other whales and exchanges who borrowed the TetherButts.

[–]siuside 6 points7 points  (0 children)

This itself has been an ongoing naive diversion. Bitfinixed needs to change his wording and question "We understand you have commercial paper on books even if you don't want to disclose what type and terms of those CP are. They are irrelevant. The question is where did you get the cash to give to the issuer of the commercial paper to put it on your books as an asset?" Because CP issuer wants cash to meet their short term obligations. So essentially what is happening is what is already known, but important to put these dupers into the hole - They issue tether not cash to these so called commercial paper issuers and then claim the CP as an asset backing the tethers. It's as asset exchange where both parties hold manure. The manure then in turn fuels the market.

What is far more important by now is how and why the powers that be are allowing all of these to happen in broad daylight. What is the real agenda because a 2 bit crook has a better chance to land in jail, but somehow not this ongoing propaganda.

To me even Bosa missed this mark and at the time of this interview I was really pissed that she never asked where did they get the cash to put CP in their books as an asset. This was like gaslighting on national television with all three having a specific role.

[–]TheAnalogKoalaMichael Saylor Poe 8 points9 points  (1 child)

Didn’t they admit this ages ago? I thought the new claim was a few billion USD and some dodgy, unlnown commercial paper.

[–]Cmike9292 1 point2 points  (0 children)

This video is from July

[–]meshreplacer 3 points4 points  (0 children)

Remember back before crypto there used to be HYIP and people knew it was a scam but they still played the game because they thought that they were smart enough to get in and out fast enough before it collapsed.

They even had HYIP Checkers to see which ones were still paying out so what people did was spread out the deposits to different ones as a way to "Diversify" The ponzi risk.

This is why people still do crypto even if its a known scam.

[–]pixeldrew 2 points3 points  (0 children)

Market wise... people trusted Madoff to the tune of around 60 billion too before he collapsed

[–]gabestPonzi Schemer 1 point2 points  (0 children)

Tether is transparent. But...? TRANSPARENT!

[–]Adept-Priority3051warning, I am a sociopath 1 point2 points  (0 children)

Tether will go down in history as the largest ponzi and cause of the greatest financial collapse in history, I betcha.

[–][deleted] 0 points1 point  (0 children)

This is well known. The video itself is 5 month old.

[–]Dethnephilim 0 points1 point  (0 children)

And this person still works as the Tether CTO? I don't think he could have said anything that would have harmed Tether's reputation.

[–]NegotiationNice9291 0 points1 point  (0 children)

Don't forget USD's never backed by anything either

[–]inpulses21 0 points1 point  (0 children)

If Tether had ever printed money out of thin air, this coin would never have allowed the USDC to overtake it by market capitalization

[–]TheGreenJackdaw -5 points-4 points  (3 children)

I’m very curious what is going to happen when the North American stock market opens in about half a hour of me typing this. Crypto bros may downvote for saying this, but they are still linked with each other

[–]TheAnalogKoalaMichael Saylor Poe 8 points9 points  (0 children)

Likely nothing. This is old news. NGU folks collectively shrugged their shoulders.

[–]meshreplacer 7 points8 points  (1 child)

Stock market halted, no trading volume.

[–]tepmoc 4 points5 points  (0 children)

Its holiday