Both are still printing machines. Dollars are backed by faith in the USA. Is there any difference ?
Powell - "We print money digitally. As a central bank, we have the ability to create money."
Powell - "We print money digitally. As a central bank, we have the ability to create money."
The ability of the US Government to create more dollars is a well understood aspect of the financial system. The US Government acknowledges is has the power to print money, and regularly tells us how much it is printing.
Bitfinex claims they do not print USDT and that it is backed by USD.
For a system that's based largely on trust (for both the USD and USDT), lying is a significant problem.
Jesus lord, yes, absolutely. The weight of the US Empire and all its combined military and economic might versus what... some shell corporations and the whisper of a promise?
Many people think that money is money. They think money is what makes a nation strong, not products and services. I don't know how even highly educated people missed this part.
Money is a side effect of power, not the other way around.
The other does not.