Tether Fails to Calm Jittery Nerves as Short Sellers Circle
/Vultures circling…Anyone (including our disabled friends and families) who has any money invested anywhere (bank, brokerage, 401k, etc…) needs to pay attention to this story. On any given day, tens of billions of dollars are invested in this crypto ‘StableCoin’. This crypto allegedly owns tens of billions of dollars of commercial paper and other short term investments. Are U.S. based investments? Are they Chinese investments? Are they in solvent and liquid investments? Are they in insolvent, illiquid investments (like Chinese Real Estate companies in or on the brink of receivership)? There is no documentation showing -exactly- what is the extent of the StableCoin holdings as of a given date. That is a true lack of disclosure. That is a true lack of transparency. That, I believe has been and will be one of things undoing crypto.
Who knows? Perhaps it will be the freezing of the commercial paper market that will lead to an insolvent crypto market. In any event dear people, please look for the safe havens now, not after the dam breaks. If the commercial paper market freezes (like it did in 2008) it may well be lights out for your money market and your bank account.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.