2021.09.19 19:17 ha3virus Japan. Stink bug, just amazing colors/patterns?
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2021.09.19 19:17 Dicey-Vibes 69% 😏
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2021.09.19 19:17 Rekindled96 The gravest crime indeed.
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2021.09.19 19:17 DontMicrowaveCats PSA: Stuart Hoagner (Tether's lawyer) just basically confirmed that Tether is in fact holding Chinese Commercial Paper. Though denying it's Evergrande debt, with default looming and its systemic effects on the China money market, this this is a Lehman Brother's-level "Gray Rhino" event in crypto
In the last 24 hours, $56 Billion in USDT volume was traded. That is more than Bitcoin, ETH, and the next 3 largest coins combined. It is probably the most unpopular major coins, but it is the glue holding the world of crypto exchanges together. I'm sure most of you have seen the movie "The Big Short". For the simplified cliff notes refresher - Leading up to the 2008 financial crisis, huge batches of dog-shit mortgages at high risk of default were being bundled up into various securities and bonds, which were then bought & sold by financial institutions around the world. When the defaults started rolling in....bla bla bla....global financial system collapses. Any financial institution holding the dog shit went down (either ending in bankruptcy or government bailout). Cool, remember that.
So Tether FUD has been a meme since Tether was a thing...for good reason too. Since inception, the stablecoin has been caught up in a seemingly endless stream of shadiness and legal issues. A bunch of the OG Tether execs/funders charged with bank fraud, ties to other fraudulent crypto criminal activities, shady ties to Bitfinex, The NYAG suing TetheBitfinex and holding them liable for lying about reserves and hiding, the current DOJ investigation...etc etc
Around 2019, Tether low key changed the claim on its website from "We are backed 1-to-1 with cash", to "we are backed by cash and cash equivalents". Of course this was swept under the table quickly in wild wild west cryptoverse.
Since January 2020, Tether's market cap (and distributions) has exploded from just $4+ Billion to now over $62+ Billion. Supposedly all safely backed by some form of financial reserve.
After the NYAG situation, earlier this year Tether was forced to finally publicly disclose their reserve composition. Although they didn't reveal much, the Microsoft Word-quality pie chart they posted did confirm that in fact just a fraction of their holdings is actual cash...the vast majority being held in "Commercial Paper."
What's commercial paper? It's short-term (unsecured) debt issued by companies. They're usually used to raise money or pre-pay vendors, kind of like an "IOU" of the corporate world. It usually gets a rating, and is usually pretty safe...so long as the companies issuing it remain solvent.
As of the latest Attestation by their sketch accountant https://tether.to/wp-content/uploads/2021/08/tether_assuranceconsolidated_reserves_report_2021-06-30.pdf shows Tether holds just $6.2 Billion in cash, $30.8 Billion in commercial paper, the rest T-Bills & RRPs.
With it now in the open that these coins are actually operating more like unregulated money market funds, over the last several months alone the SEC, CFTC, DOJ, congressional financial committees, and the US Treasury department all set their sites on cracking down on stablecoins.
Furthermore, since Commercial Paper is traded at a discount to Face Value, Tether can buy up dog shit junk bonds for pennys on the dollar, but report it as the full maturity amounts on their balance sheet.
Anyway, the MoonBois and cryptoverse have made an effort to shrug this all off. They say "STFU FUDbois. Who cares? It's a fractional reserve system, banks do the same shit with your cash all the time. "
True, but traditional banks are not gambling most of it in dog shit debt (at least hopefully not to the degree they pre-2008). And money market funds clearly disclose what they're buying. They're also insured by the FDIC so your funds are actually always "safu" in event of a bank run.
The problem with Tether is that as of now, it still refuses to disclose exactly what commercial paper they actually hold. At its current value Tether would be one of the biggest commercial paper investors in the world. But some top dogs in the US financial markets say theyve never actually heard of them https://www.ft.com/content/342966af-98dc-4b48-b997-38c00804270a
So eyebrows were raised, leading to a lot of recent speculation that most of it is actually Chinese commercial paper. Why is this a big deal?
Chinese property developers have been issuing commercial paper debt like crazy over the past couple of years. So much so that the Chinese government has started a major crackdown, for fear of a collapse of its entire credit market https://www.reuters.com/business/china-order-developers-disclose-commercial-paper-debt-every-month-sources-2021-07-16/ . One of the biggest culprits was a company called Evergrande - who ran up a $300 Billion debt bill (2% of all Chinese GDP) and is expected to default any day. Trading of their bonds were halted by Chinese exchanges last week.
Coincidentally the timing of this debt run-up coincides with Tether's massive surge in issuances. So speculation arose that Tether's commercial paper could be Evergrande debt. With pressure mounting, a few weeks ago Tether finally discloses the supposed ratings of their commercial paper holdings. They announce basically, "Don't worry, most of our paper is rated A-2 and above". They release the latest attestation which shows the breakdown.
Sounds like exoneration right? Remember that scene in the Big Short when Steve Carell's character is going around the bond rating agencies and found out all of the ratings are essentially a big pay-to-play scam? Pretty much all bonds were rated highly regardless of what's in them. Well it's essentially the same in China. https://thediplomat.com/2019/06/understanding-chinas-bond-ratings/ Almost all bonds are given ratings of AA or above....making their bond ratings are more or less meaningless to the actual risk.
Case in point, Evergrande's rating was AA until just a few days ago. Chinese commercial paper appears to be the equivilant of Mortgage Backed Securities circa 2007. It is dog shit debt tied in a shiny bow.
With pressure continuing to mount, and regulators circling them like hawks, in the past week Tether has finally publicly denied that they hold Evergrande debt. Saying “Tether does not hold any commercial paper or other debt or securities issued by Evergrande and has never done so,” https://capital.com/stablecoin-tether-denies-holding-evergrande-paper
So maybe they're telling the truth and it is not Evergrande debt. HOWEVER, just yesterday their laywer, Stewart Hoegner, put out a tweet in response to further accusations .... https://twitter.com/bitcoinlawyestatus/1439261738067767297 "If the concern is Evergrande, see our earlier statement. If the concern is Chinese Paper, as such, we have published the ratings on our portfolio...."
Which is a lawyer's way of saying "We hold Chinese paper, but don't worry it's super AA rated."
So...it might not be Evergrande debt, but at least some or all of it is Chinese, with a high likelyhood of that being junk debt. Evergrande's looming default poses a systemic threat to the entire Chinese credit market.
If Tether is holding Chinese paper, and the Chinese credit market tanks, half of Tether's reserves go with it (if they haven't already). This is a "Gray Rhino" event of the crypto world. If USDT reserve value drops, either Tether becomes unbacked, or they will be forced to suck liquidity out of the market (burning coins). In any case, any sort of scare leading to a run on Tether redemptions would be catastrophic.
If Tether goes down, USDC or any other stablecoin will not have nearly enough liquidity to bail it out. This is not FUD, this is a real situation you should pay attention to.
**TL;DR** Tether's lawyer essentially confirmed its holding Chinese commercial paper for at least some to up to half ($31 Billion) of its reserves. If Evergrande defaults in the next week or so, Chinese commercial paper market is in trouble, and so is Tether
submitted by DontMicrowaveCats to CryptoCurrency [link] [comments]
2021.09.19 19:17 maroha3814 Favorite of These Live Album
2021.09.19 19:17 Calomiriel Lessons learned - True Legend
With true legend as a mystic path, your level cap goes to 40, and all your stats get +4. I wanted to collect some lessons learned for other people, to help them set up their build:
2021.09.19 19:17 Alive_Enthusiasm_901 can a vet refuse service because of this?
i’ve finally convinced my mom to take my cat to the vet. she’s been losing a lot of weight and i’ve convinced my mom that my cat may have an actual health issue that a vet can deal with. heres the thing though, she refuses to let her get vaccinated. if you see my post history, my mom wont let me get vaccinated/covid tested/etc, so i’m not surprised, but its stressing me out so much. we got my cat when i was very young and i have no idea if she’s had her shots. my question is, can the vet refuse to help with my cats weight issue if my mom doesn’t let her get vaccinated?
submitted by Alive_Enthusiasm_901 to vet [link] [comments]
2021.09.19 19:17 AshuBst New Th 12 • Core Defence Max • 11.2k Gems • 3 Hero Skins • PM FOR PICS. • 40$ •
2021.09.19 19:17 PrettyLittlePuppet28 Team Villains
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2021.09.19 19:17 heinaga1989 👩🚒War2earn👨🚒 ⚡️Just Launch on Pancakeswap ⚡️ ✨ | war2earn: No. 1 Defi+ Nft War game in BSC.
War2earn is a growing gaming ecosystem. It includes:
💥 All players interested in this item or token can purchase knights and equipment in the fight against the devil;
💥 marketplace and our own currency $W2E;
💥 a unique game using our own NFT collection.
It is not only a brand new speculative cryptocurrency project in the castle kingdom world. War2earn is a next generation, multi layered gaming ecosystem that can unite their participants and different communities towards a common goal.
The $W2E token is a bridge against the devil. In the castle kingdom world of War2Earn, you can use $W2E tokens to build a castle kingdom and train knights and weapons. At the same time, enemies and allies will appear. Experience the wonderful castle kingdom life. Your NFT character is more than just a game character. This is an NFT built on BSC. It can not only be used in games, but it will also help you make money..
Our mission is to unite different cryptocurrency communities to make money in the castle kingdom world.
💥 🟢BASED DEV READY TO DOXX
🛡tokenomics tx fee :15%
10% reward to W2E holders : paid by BNB
3% Matketing wallet
1% Dev game
1% add to liquidity https://t.me/war2earn_official
BSC Contract Address: 0xAfCB2fA7Df48dB17f26a621E682AC79D5a2C3402
submitted by heinaga1989 to LonelyCrypto [link] [comments]
2021.09.19 19:17 Other_Scar5872 How do I get Ritalin in Spain? (ADHD Medicine)
I think I might have undiagnosed ADHD and I'm still quite new in Spain, living in a small city with limited Spanish and not sure how I should explain this to a doctor.
Also, I'm still figuring out the health insurance stuff. I know, quite messy.
I think it could improve my non-existent concentration, but it's prescription-only, right? Any help or advice is appreciated.
submitted by Other_Scar5872 to askspain [link] [comments]
2021.09.19 19:17 dtownmj1 [WTS] MP5 Magazines & Accessories: Straight Mags, KAC Rail Handguard, ETS etc (TX)
Have some mp5 mags/accessories that i am trying to offload. Please post what item you want in the comments and send a pm. My items are priced fairly so I'm probably going to stay firm (I do my research on the forums, web, gb, etc). No shipping to ban states for mags. 1-4 items will be $8 shipping, 5+ free shipping). Payment via venmo, zelle, paypal friends and family only.
1x Kac Rail Handguard w/ rail covers- from my personal collection, went a different route. Excellent condition with minimal use/wear marks. Part 97198 $300 shipped (these go for 344 plus ship s&H + tax)
9x HK German Straight mags - 3 are MP5 HK marked (1967, 68, 69), 3 are io date coded, 3 are ih date coded. All are in good condition. Each one is kinda like a set. $120 per straight mag, $360 per set (prefer to sell in 3s) plus shipping stated above
3x Straight POF mags. Good condition, one has a made in pakistan sticker $80 per mag + ship
1x ETs mag. new in wrapper, clear $20 plus ship
submitted by dtownmj1 to GunAccessoriesForSale [link] [comments]
2021.09.19 19:17 Rodri561X How to tune for Mustang RTR Spec 5
So I recently got a Spec 5 and I just can't seem to get the right tune, I want to use it for street/road racing but every tune it's only for either drag or drift, is it just not possible to road race with it or is there just a very specific tune that I can't come up with on my own head? Thank you guys in advance
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2021.09.19 19:17 Theaveragespymain2 They aren’t even ideas if you say “guys they are coming trust me”
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2021.09.19 19:17 smnmsk L O W P O L Y A R C
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2021.09.19 19:17 omegajakezed I'm very bored. Comment down below and I'll give you a fantasy name and title. Tell me if you'd like to sound Masculine or feminine
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2021.09.19 19:17 Idkcatz In reality this is going to be antivaxxers in three years lmao
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2021.09.19 19:17 Sulubezi Unexpected head tap
2021.09.19 19:17 CapitalCourse First time I've heard this one before
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2021.09.19 19:17 crystalsnowww Dreamt about abandoning my newborn and then trying to come back to it
I had a dream where i found out I was pregnant and because of this my partner left me so when i had the baby i was very resentful if it and scared about being a single parent and for some reason i was also in highschool. So one day i took it to my high school in gym class, i had it all swaddled up and was looking at it and admiring it and i hadn't even named it nor do I think i knew the gender. And then the class bell rang and i decided to leave the swaddled up blanket in the bleachers and leave. I abandoned the baby. But then a few days later i got really sad and felt bad and missed it so i called the school and asked if they found it and if i could have it back but the school said they never found a baby, there was never one left there and no one found one and so i started questioning whether i actually had it or not. But regardless i missed it and was so heartbroken about it. This dream was very jarring and i don't often have dreams as vivid and confusing as this one. If anyone has an interpretation of this i would love to hear it.
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2021.09.19 19:17 AutismoShrek What's he gotta do to get a start? (for context he's their top scorer in La Liga)
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2021.09.19 19:17 runawayhound Any one have recommendations for Premiere Pro plugins that recreate the VHS transition look in this film?
2021.09.19 19:17 TangoSuckaPro The taste of citrus fruit gets a 2x multiplier if you’re dehydrated.
2021.09.19 19:16 Gollum2588 What should I use my gold coin on
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2021.09.19 19:16 Urridi GAME THREAD: Football sunday - other teams
Game thread for the sunday games. F.ex.: It took Darnold and the Panthers offense 3 minutes to march down the field and score a TD against the Saints. And now their defense forced a 3 and out.
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