It would be better to post the original Bloomberg article, rather than the Cointelegraph one.
https://www.bloomberg.com/news/articles/2018-08-24/not-even-515-million-in-new-tether-can-help-this-crypto-dump?srnd=cryptocurriencesEveryone should read Kraken's article disproving the news media's clickbait and the scientific paper FUD that USDT is printed to manipulate bitcoin.
In any case, I have already told everyone. USDT is issued when the price of bitcoin falls because there is more demand for USDT. Also when there is more demand for USDT, there should be more supply to maintain the $1.00 peg.
I agree with you that is how the peg should be maintained in the ideal case. New USDT should be issued in exchange for dollars, and the dollars should be held safely by the Company issuing the USDT. It is the latter part of the equation that people are not certain about.
Agreed. But that is another story. What the mainstream news media, and also most of the supposedly
cryptoinformed bitcoin news media, together with those scientific researchers are doing is make FUD that those USDT issued are made to pump bitcoin, which is not true.
Of course it is true. It is all about maths, the correlations are too big. Tether inject billions of fresh dollar to pump the bitcoin price. 25th of august, 500 Millions of $ have been printed. Who the f*ck will invest a half-billion $ in the middle of the summer ? Of course this time they pumped EOS to put up a smokescreen. It is now a fact that Tether manipulate the prices to make profit on naive investors.