Those who run the banks, who own and are regulated by the Fed, get rich. September 2019 repo problems, like Deutsche Bank and others, demonstrates how the Fed bails out even foreigners.
Crypto is a vibrant growing space and like any growing space there will be problems along the way. I have no interest in Tether, though some find it useful and they can use their free will to choose it as a place to park funds. I think people would be better served with DAI or USDP when parking funds, but that is just me.
Pitiful excuse. Tether should interest you in the same way (and for the same reason) the Federal Reserve does.
It is involved in more than half of all crypto trades and provides much of what passes for stability in the crypto marketplace. And Tether is based on debt-is-now-money --- only worse because the debit is unsecured IOUs at best and at worst may be totally non-existent.
The fact that no one really knows if Tether is backed at all, yet it easily maintains it's 1 USD peg points to possible/likely widespread collusion and fraud.
Whether you choose to use it or not, Tether infiltrates and affects the overall crypto market in the same way the Fed affects fiat.
Strange that you are obviously concerned about one and completely dismissive of the other. I guess it just doesn't fit the narrative you've bought into.
I am forced by threat of government violence to use private central bank debt "notes" to pay taxes.
The government does not force people to use Tether. My only concern with Tether may be that it quickly collapses and that chapter can close. Hopefully your interest and attention on Tether will help kick it into history. And if you don't like Tether or brothels or MJ or tobacco then simply opt out of those.
Good description of 'Federal Reserve' which prints money to bail out the banks it allegedly regulates.
There are many open finance projects, DeFi, on Ethereum which allow me to opt out of the bankster's rigged system of debt-is-now-money.