|Jan 26, 2018 04:45 PM||By: Guest Author | 13064 Views|
It’s no deep just anonymous internet trolls shouting out Tether on twitter. One of the most important economists in the world today, Nouriel Roubini, has just started the debate, coming down hard on the controversial company.
Renowned economics professor Nouriel Roubini (commonly known as Dr. Doom) has requested out Tether today for being a scam expected to artificially prop up the value of bitcoin. He thinks that without this “criminal manipulation” the value of bitcoin would crash by 80% and that American financial businesses regulators are failing to stop this fraud.
Roubini tweeted that:
Regulators asleep at the wheel while $2 billion of fake $ created via this scam, half of it in December. Not even North Korea created so many fake $ backed by nothing.
And in a separate tweet he continued:
Regulators are just ‘looking’ and doing little so far while swindlers, charlatans, scammers, criminals, carnival barkers are in complete action in the crypto-universe.
Roubini had became popular mostly for divining the economic crisis and housing bubble crash of 2007-2008. Besides teaching at New York University’s Stern School of Business and working as chairman of the economic consultancy Roubini Macro Associates, he is also a regular figure on financial mass media. This gives him a great public platform, which both US regulators and Tether will find hard to neglect. Additionally, Roubini touched a point which many in the cryptocurrency world are also scared of, as evident by repeated calls for an inspection of Tether and the recent attempt to settle the matter.
This isn’t the first time Dr. Doom took a turn at the cryptocurrency world. He earlier said that: “Gold is another scam with scammers selling it all day long on Fox TV commercials to clueless retails investors – grandpas & grandmas – & charging them prices above market + gouging fees. And now all the fanatic stupid gold bugs have become Bitcoin bugs. Gold & BTC: two scams.“ Luckily for bitcoin holders, Roubini has been wrong earlier in his analysis of the cryptocurrency.