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https://www.coindesk.com/us-fed-offi...cial-stability
- tether is the safe haven everyone is fleeing to because the market is in a death spiral
- short term credit is the soft underbelly of the global financial system. when the housing market got fucked in 2008, short term credit disruption is why ATMs nearly ran out of cash and GM was nearly unable to cash employee paychecks, etc etc. it was only because the government stepped in with liquidity that these things and a thousand others that were just as bad if not worse didnt come to pass. so to say tether contributes to these sorts of risks is really and truly something to be taken seriously
- tether is the safe haven everyone is fleeing to because the market is in a death spiral
- short term credit is the soft underbelly of the global financial system. when the housing market got fucked in 2008, short term credit disruption is why ATMs nearly ran out of cash and GM was nearly unable to cash employee paychecks, etc etc. it was only because the government stepped in with liquidity that these things and a thousand others that were just as bad if not worse didnt come to pass. so to say tether contributes to these sorts of risks is really and truly something to be taken seriously
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