From Matthew Kratter's Bitcoin University
Video Description
In this video, I discuss how Tether helps to prop up the US government by buying its debt and extending US dollar hegemony in the global south.
Many Bitcoiners seem content to look the other way, often because they are directly or indirectly on Tether's payroll.
Are we as Bitcoiners still going to be cheering on Tether when it is the #1 buyer of US Treasuries in the world in a few years from now? How are Bitcoiners going to rationalize supporting it at that point, when it's buying more Treasuries that Japan and China combined?
Here are the stark facts:
- Tether exists only by the grace of Uncle Sam who refuses to go after the banks that hold Treasuries for Tether.
- Tether helps to prop up the US government by buying its debt.
- Tether spreads US dollar hegemony wherever it goes.
It's high time to "cut the tether" that's holding back humanity.
I don't care that Tether has been buying Bitcoin for its treasury or that it invests in the Bitcoin ecosystem. Those are two activities that any smart and successful company will do anyway.
Just because the drug lord is paying for your schools and hospitals doesn't mean that you wouldn't still be better off not living under a drug lord.
As for me, I want to use Bitcoin to help to defund the US government, not to expand its funding through USD stablecoins.