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The regression theorem laid out the required conditions for the emergence of oblique alternate and therefore, in a later stage, money: For a good to come to be used as a medium of alternate it needed to have had a prior market worth on the idea of the non-trade demand for the great. The quotes above also make clear that Mises and Rothbard thought that the regression theorem was a praxeological statement and therefore that it its reality is established by way of a priori deductive reasoning. In the philosophical literature there are numerous articles and books about what precisely it means for a statement to be a priori or a posteriori, and we won’t enter into these debates within the house of this text. For now let’s just go with the plausible idea that an announcement is a priori true if and provided that its truth might be established on the idea of nothing greater than the meaning of the phrases in the statement.
This is not thus far fetched as how we view money is a generational factor. The youthful technology have more religion in the Crypto economic system because they are basically excluded from the legacy financial system. Is Tether a huge risk to the Crypto economy? Will Tether crash to zero? The entire crypto market is crashing. The one Token increasing in market capitalisation is Tether. Based on this it’s unlikely that Tether will crash forward of other tokens. More than possible it is actually underpinning the whole crypto economy. The Chinese government is already clamping down on anything crypto. The currency most at risk is the USD. I really don’t have any clue. If the US authorities may shut down Tether’s accounts, I am certain that they would. All that is needed for crypto to survive is for one nation to legalise it and Japan has. We could have to watch this play out, but the larger the market cap of Tether the more durable it will be to shut it down.
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