Is Tether A New American CBDC? \ stacker news ~bitcoin

pull down to refresh

Is Tether A New American CBDC?odysee.com/@TraderUniversity:a/is-tether-a-new-american-cbdc:8?r=8T2xqWjtafHWYGxQBSsrbw1wQPm7sWRq

290 sats \ 13 comments \ @Undisciplined 1 Aug bitcoin

From Matthew Kratter's Bitcoin University

Video Description

In this video, I discuss how it's likely that the US government and Federal Reserve may use a private company like Tether to issue and control the equivalent of a CBDC (central bank digital currency).

While these digital, programmable, surveillable dollars will not be technically issued by the central bank, they will still be under the control of the US government and the Fed via pressure applied to the private company.

This kind of private "CBDC" will create an infinite bid for US government debt to back it, thus helping to fund the same foreign policy adventurism that undermines other countries and their local currencies and thereby creates even more demand for US dollars as a safe haven.

This is the same playbook that has been used by the US government to undermine and bypass 1st Amendment and 4th Amendment protections by having corporations do the dirty work for them.

Bitcoiners should be focused on giving the world BTC, not USDT or other USD stablecoins.

view all related items

122 sats \ 2 replies \ @grayruby 1 Aug

I think USDC is more of a CBDC but USDT isn't far behind.

127 sats \ 0 replies \ @0xbitcoiner 1 Aug

Given that USDC is governed by Circle, a US-regulated entity, it is probable that the US government will adopt it. Is it possible for Circle to evolve into a digital Federal Reserve?

https://m.stacker.news/42879

71 sats \ 0 replies \ @Undisciplined OP 1 Aug

It's an interesting perspective, given how our legal protections work.

It would be much easier for the state to go through a private intermediary to invade our financial privacy and enforce their unlawful dictates, just like they've done with tech censorship.

32 sats \ 0 replies \ @IamSINGLE 1 Aug

Not only Tether but US is surely looking for a coin that serves the purpose of a CBDC. I also suspect Trump will adopt a stablecoin first to make fiat slaves happy.

42 sats \ 0 replies \ @atori 1 Aug freebie

Tether buys US treasuries and freezes accounts at the request of the US gov. Tether uses account model with transparent chain for no privacy. Me thinks US gov don't mind Tether.

34 sats \ 3 replies \ @Coinsreporter 1 Aug

I thought it was already a US CBDC! Why they don't do any audits yet?

32 sats \ 2 replies \ @Undisciplined OP 1 Aug

No, it's ostensibly a private company. This is how digital fascism works, though.

21 sats \ 1 reply \ @Coinsreporter 1 Aug

I know, I meant that it is already supposed to be working as US CBDT.

21 sats \ 0 replies \ @0xbitcoiner 1 Aug

CBDC = Central Bank Digital Currency

USDC -> Circle (American Company) USDT -> Tether (Hong Kong)

21 sats \ 2 replies \ @Bell_curve 1 Aug

Tether usage is growing in Latin America especially El Salvador 🇸🇻 Argentina 🇦🇷 Venezuela 🇻🇪

21 sats \ 1 reply \ @Undisciplined OP 1 Aug

Interesting. Is that because they're already accustomed to using dollars as a haven from their collapsing currencies?

21 sats \ 0 replies \ @Bell_curve 1 Aug

Yes

Dollars are popular in Latin America

0 sats \ 0 replies \ @Satoshi__Nakamoto 1 Aug

they will still be under the control of the US government and the Fed via pressure applied to the private company US is trying to control every thing I the whole world 🗺