Answer: cricketshttps://twitter.com/gaborgurbacs/status/1393180251778322434 …
Tether reserves breakdown:
+ 76.0% in cash & cash equivalents
+ 12.5% in secured loans
+ 10.0% in precious metals
+ 1.6% in other investments including #Bitcoin
(Source: @Tether_to)
> Now ask this question: What’s backing your cash in banks? Turns out it’s hard to answer.
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I'd argue the entire countries economic activity + guarantees by the government, which are in themselves self-interest driven + the trust of most of the population in it I.e extremely powerful memes, which wouldnt be any more powerful if there was gold (a meme itself)
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So fiat of a "strong" country is kinda really strong, which is why i'll remain a fiat maxi for the foreseeable future Open to a "paradigm change", but for now i'll keep on stacking pennies
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Basel iii
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BASEL 57,996,666,419
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My bank works with 100% transparency. I can see every single asset it has and every single action it takes. It's mathematically impossible for my bank to not be 100% transparent. It's called MakerDAO and here is its reserves:https://duneanalytics.com/SebVentures/maker---accounting_1 …
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There's literally more info on my bank's reserves on this silly Twitter preview than the whole PDF Tether released.pic.twitter.com/2UkBD14U0I
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When are you planning on sharing more information on the nature of the “commercial paper” you’re claiming is a cash equivalent? Why should everyone take your word for it?
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They have a Bag holder bias
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3% cash bro, stop embarrassing yourself
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