Thread by @WesleyBKress

1/6 I taught banking & financial markets & Institutions at the University for years. It’s comical to me how little these “Financial writers” know about the ever changing landscape of our LEGACY financial system. People discussing @Tether_to $USDT … #BTC $CEL $EGLD $MATIC $USDC

2/6 how it’s so groundbreaking they are only 3% cash, rest being a combination of cash equivalents, treasuries, or short term assets. What most FAIL to realize is on MARCH 15 2020 the #FederalReserve Reserve announced 0% Reserve requirements for Banks federalreserve.gov/monetarypolicy…

3/6 So people like @smdiehl or @FinancialTimes or quoting the likes of individuals who are supposed “Financial writers” without giving context of the existing 0% backed reserve system in OUR EXISTING FINANCIAL SYSTEM is perpetuating lies, illusions & false truths. Things should

4/6 Be reported on with CONTEXT & RELATIVITY this is the problem with reporting is it’s just a narrative spin. Painting #CRYPTO negatively when our EXISTING FINANCIAL SYSTEM is 0% This is why the uneducated who partake in these outlets looking for quality information are getting

5/6 inaccurate spins or narratives. Our existing Legacy Financial System has MORE #SYSTEMICRISK due it being 0% While I only support the use of $USDC $BUSD as they are audited & transparent actually do hold 1:1 I will never understand writers who are PAID like the @FinancialTimes

6/6 Nothing exists in a vacuum especially in financial markets. Context & relative risk (Existing Financial System) should be explained. Otherwise one fails to give an accurate picture. It’s as if reporting negative on #crypto is the best “click” revenue driver & being exploited