I think you are a little sensitive. No I don’t have 100+ bitcoins never said I did. Also you are also anonymous lol.
Tether did 5BB+ in profit in first half = Greatest biz in history
- Thread starter GlobalMacro90
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I think you are a little sensitive. No I don’t have 100+ bitcoins never said I did. Also you are also anonymous lol.
Maybe some but I’d certainly sell a good bit at that point. Thats far away
They're even beating the previous record holder for AUM to employee ratio: Bernie Madoff.
You don't need to prove it's fake you just need to see that it's shady and realize there are other things in this word to invest in.
There are a significant number of old hands on Wall Street who have said the equivalent of "we looked at Madoff's operations and it raised red flags so we didn't invest."
Heck, at least Madoff bothered to fake his audits.
It can be very hard to prove fraud without inside information. But you don't need to prove it. Just like you don't need to prove there's trouble waiting down that sketch alley at 3AM. Walking down sketchy alleys at 3AM is stupid.
Tether does not need investors or capital
Tether has $114 Billion of cash that has no cost, no interest, inf fact, they charge administrative fees
Tether buys US short term treasuries and make over $5 Billion/yr profits. net profits
Tether uses some of the profits to buy bitcoin and gold
And out of the 114 Billion usdt in circulation, my estimate is that 10-20% of the private keys are lost, which means they will never be redeemed
Add to that a few billion usdt that are frozen as involved in hacking, criminal complaints, US sanctions, free money that can never be redeemed for USD
Tether is over capitalized than the circulating usdt tokens
sounds great. If all of the above is true why there was not a single audit? After all they said BDO Italia was hired like 3 years ago to do full audit. If you recall I predicted that there will be no audit.
tether is world biggest financial fraud and whole crypto market valuation is based on it.
How many treasuries?
How many people are handling the buying and selling of the out of the only ~100 people they have?
Maximum size for a treasury is $5mil if not part of the competitive bid process. Even if they participate in the auctions, there's a cap of 35% of the offering.
Given the claimed holdings, they're going to have to participate in many auctions or buy 20,000 non auction bonds all over the market.
You think a couple guys can keep track of that much activity?
How much work do you think it would be to properly come up with bid price for thousands of different bonds? Transfer cash to and from the many dealers they would use for that much volume? Keep track of expirations and reinvest?
Hell if you had the ~100 people working for tether doing nothing but bonds, you could break it up and they'd each only be in charge of A BILLION DOLLARS EACH!
If someone tells me they've got 20 tons of gold in the trunk of their Chevy Nova, I don't need them to pop the trunk for me to know it doesn't make sense.
We've talked about this before and there are similar issues with other claimed holdings like corporate debt.
The AUM to employee ratio here is a giant red flag.
Tether only needs 1 employee to tell primary dealer Cantor Fitzgerald to buy $114B of US Treasuries and sell billions of US Treasuries when needed
It's no big deal for primary dealer Cantor Fitzgerald, they deal in Trillions of $
No audit so that Tether truthers stay out
