My favorite quote from the article:
“as long as enough people believe a lie, it may as well be the truth, until their faith evaporates that is.”
In short, Tether issues (not mines) its own digital currency claiming it is backed by actual dollars in a bank. It then uses its recent issued currency to buy Bitcoin. The Tether digital currency supply surge coincides with the bitcoin price surge.
Sounds like yet another rendition of the bigger fool hypothesis.