Evil Diaries: All gone?

On 9th October last Bloomberg published an astonishing story claiming that depositors at Tether get Tethers, a cryptocurrency, which can always be converted back to US dollars on a one for one basis. Depositors can use these credits to buy the likes of Bitcoin.

All this would be fine if it were not for the fact that Bloomberg claim that they cannot find any money invested by the Tether “bank” anywhere. If so, there is a giant black hole in point here.

Curiously, I found that my holding of silver which I reckoned would rocket on this news went up initially only to fall back sharply on Friday afternoon. Insouciance or what?