Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
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I'd just like to sound a warning on Crypto. The passing of the Genius and other acts in the house and Senate does seem to normalise BTC, ETH and Stablecoins as part of the US banking system. This has caused enormous speculation in the US with investors and pension funds flocking in to the sector. It has been exacerbated by the President whose coin $TRUMP has become part of the frenzy to his family's profit.
Many commentators have noted the similarities to the 2008 Global Financial crisis when housing prices reached highs and derivatives on those were traded and further turned in to further derivatives appropriately called Junk The worry presently is that with the mix of traditional banking and crypto that coins such as Tether now hold Treasury bonds, in fact in Tether's case more now than Germany does and should there be a run on Tether there will be a consequent run on Treasuries.
I enclose two attachments to this post, the first on the GFC which many younger members may be unaware of and secondly an article on Tether's treasuries.
I plan to continue investing in Crypto but will read wisely and hopefully get out and in betimes in good space from disaster for a profit and for safety.
From Wikipedia : The 2008 financial crisis, also known as the global financial crisis or the Panic of 2008, was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation.
cointelegraph.com
gg
Many commentators have noted the similarities to the 2008 Global Financial crisis when housing prices reached highs and derivatives on those were traded and further turned in to further derivatives appropriately called Junk The worry presently is that with the mix of traditional banking and crypto that coins such as Tether now hold Treasury bonds, in fact in Tether's case more now than Germany does and should there be a run on Tether there will be a consequent run on Treasuries.
I enclose two attachments to this post, the first on the GFC which many younger members may be unaware of and secondly an article on Tether's treasuries.
I plan to continue investing in Crypto but will read wisely and hopefully get out and in betimes in good space from disaster for a profit and for safety.
From Wikipedia : The 2008 financial crisis, also known as the global financial crisis or the Panic of 2008, was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation.
Tether surpasses Germany’s $111B of US Treasury holdings
Tether surpassed Germany’s $111 billion worth of US Treasuries, becoming the 19th largest entity among all foreign countries holding T-bills.
cointelegraph.com
gg
