Lev Menand
speaker
1,295 appearances
6 recordings
1 series
first heard Jan 2025
last heard 17 Jul
Lev Menand’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.
Appearances
And up until this point.
The cryptocurrency space is very much looking at itself, and so tethers are used primarily to buy cryptocurrency, not to facilitate real economic activity.
Or they're used to conduct illicit transactions that are difficult to conduct in the fiat regulated system.
I did air quotes, but that that doesn't come across in this medium.
That said.
Tether has gotten huge.
And it is exploiting the same sort of regulatory loophole that the euro dollar system is exploiting.
The tether balances have a very similar economic status to the euro dollar balances.
And one could imagine, insofar as Tether is legitimated in some sense.
And it takes on greater scale.
Да і куд експен із ро.
And sort of
jump over and get out of just the crypto ecosystem and get into the real the real economic activity and be a real competitor with other dollar money forms.
It certainly is a dollar money form and it could be a it could be a competitor in certain transactions for certain purposes.
Absolutely.
And I think this is something that's probably not getting talked about enough.
The whole swap line based euro dollar system is very much a product of a particular
geopolitical diplomatic arrangement between the United States and a variety of allies and partners that involves a certain orientation to those allies and partners, where the US is basically making an ongoing commitment.
over a long period of time that it will be there to provide, in essence, discount window like backing.
To the extent that
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