The key issue in the coin circle is staboins

2022-07-20 0 By

The key problem of the coin circle is staboin!In fact, the key problem in the coin-sphere is not bitcoin or other cryptocurrencies, but stabocoins.If Tether is the largest Ponzi scheme in human history, there is not enough legal currency asset reserve, but just like commercial banks, assets are credit loans and commercial paper backed by cryptocurrency, with which to create credit and issue additional Tether stabocoins.Then the entire crypto world is based on a giant Ponzi scheme.For now, people in the coin community have chosen to ignore the staboin issue such as Tether, but the issue has been a ticking time bomb.Some say Tether is opaque and secretive in case the United States freezes its assets.In fact, Tether would have been found to have deposited dollars in any bank, since foreign banks need U.S. correspondent banks, such as New York City’s Citibank for Deltec.How could the US not know.The U.S. Attorney for the Southern District of New York also obtained information about Tether’s assets as part of an earlier investigation.Now someone wants to use the Transparency Act to get this crucial information.Tether is fighting to stop it, claiming it is a trade secret.So Tether isn’t afraid of the U.S. government, it’s afraid of other people finding out.The U.S. government knew what Tether had.And the U.S. isn’t freezing Tether’s dollar deposits, at least for now.So Tether isn’t afraid of being discovered or having his assets frozen.In addition, for the US to freeze assets, there must at least be charges.As for cryptocurrency-based mortgages and commercial paper, the US cannot freeze them because they are not in the dollar system.Why didn’t Tether disclose credit loans and commercial paper backed by cryptocurrencies that couldn’t be frozen in the US?Can’t be frozen, how can you be afraid of being frozen?The logic is contradictory.From the basic logic analysis of the bottom of speculation!1. The currency circle absorbed a large amount of excessive liquidity issued by the United States, and the United States was happy to see its success.This saying is similar to the reservoir of Chinese real estate.It has long been popular to say that real estate is a reservoir of excess money.If it were not for the rising housing prices, which absorbed a large amount of excess money, prices in China would have soared to the sky.Hyperinflation.In fact, dollars flow into the coin circle, they trade, they buy cryptocurrencies, and the dollars don’t get solidified in the process, they go into the reservoir, they don’t go out, they just get exchanged, they go into the hands of the people who sell the cryptocurrencies, and they end up in mansions in California.If dollars flow into a stablecoin, then a stablecoin can create N dollars of credit out of a dollar of fiat credit.Cryptocurrencies are not only not reservoirs, but also credit amplifiers.It is the same way that real estate is not a reservoir but a credit amplifier.It is not that the capital flowing into the property market is so large that it absorbs the capital, but that the property itself can be used as collateral to create credit and push up prices.In the same way that cryptocurrencies have gone up, stablecoins have multiplied 900,000 times, it’s not simply money coming in and pushing up prices, it’s cryptocurrencies themselves that can act as collateral and create credit.Staboins are a mechanism for creating credit.2. Cryptocurrencies keep gold from rising by attracting money that would otherwise go into gold.Cryptocurrencies are the king of risky assets.Gold is the king of safe-haven assets.The Day king and the Night King will do their duty and never see each other again.Crypto buyers, who have a higher risk appetite, are not in the same category as gold buyers, who are long-term safe-haven buyers.And while cryptocurrencies have plummeted, gold has not.The two are not a substitute relationship.Bitcoin’s negative correlation with gold can be fully explained by market risk appetite.Gold is highly negatively correlated with the NASDAQ, so is the NASDAQ also taking money from gold?Or a change in risk appetite!