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Okay so hold on Stablecoins like USDT, BUSD & USDC Are backed by short-term bonds. Bitfinex, Binance & Circle are printing money While we take on all the risks of bonds with no benefits We desperately defend stablecoins but we're actually cucks?

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Romano

@RNR_0

Sep 24

Anyone has a better idea of what he's trying to say or imply?

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SBF

@SBF_FTX

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@RNR_0

to be clear, short term gov't bonds (treasuries) so the risks are equal to the risks of the US defaulting on its debt

8:52 PM · Sep 25, 2022Twitter Web App

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it's worth noting, fwiw, that most of the financial ecosystem is backed by treasuries--even if they don't make it obvious, most financial institutions store your $ in treasuries

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Up or Down ser

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Basically if it happens stablecoins are your last problem and world went to complete shitshow ?

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Can anyone exaplin why the 5y cds of the us is greater than the german one,

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Because the federal funds/prime rates of the US are higher than that of Germany?

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Comparable to the 08 money market collapse except this one is perculating based on sovereign stress vs US housing…some interesting game theory when all run to usd first