I am making coins on the CNC, anybody want to invest in Sageobucks?
Establishment government officials are on the take and also want crypto currencies to fail so they can introduce their own government generated crypto currency for “our safety”. This allows them to track every single transaction you make because the a major compelling reason for current crypto currencies will not exist: anonymity.
great analogy to BCCI..FTX prolly has same sponser.. Clowns
Stable coins backed by USD will eventually be approved for use between large US banks and the Fed but they won’t have anything to do with the uncontrolled Tether system. The Federal Reserve is already rolling out a twelve week pilot program to exchange Digital Dollars between banks using their own blockchain infrastructure that gives them access to all transactions and not annonymous. It may provide some efficiencies over the current system of clearing wire transactions but its all under the Fed control.
Tether is another unregulated, annonymous FINTECH mystery that may survive in the private sector for drug dealers and human trafickers but won’t be approved for much else any time soon.
Quite an article. This whole crypto thing is so shady.
It’s important to state what is happening if Tether is not actually backed by the dollars that it claims. If Tether Limited is pumping out new Tethers without actually taking in an equal amount of USD, then it is essentially a privately-run money printer.
Just manufacture new Tethers, pump them into a crypto exchange, use them to buy bitcoin, then sell the bitcoin for real U.S. dollars.
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And an audit, pending since 2017, is yet to be conducted in full. Could be some shenanigans.
The common thread in most of these horrendous crypto scams is the involvement of Western Intelligence Agencies and oligarchs such as Soros, along with drug cartels, and surprise, surprise, corrupt Ukrainian politicians.