Are they setting Tether up for a financial takeover? I scored Tether against every major privatized financial takeover in modern history. 14 criteria across structural capture, surveillance and enforcement, and accountability evasion. Each scored 0 to 3. Max available 42. Highlights below. East India Company: 27/42. A trading company that ended up with 200,000 soldiers, its own courts, and its own currency across India. Took 150 years. Russia in the 1990s: 28/42. Twenty men handed the entire economy through loans-for-shares. By the late 90s they controlled 85 percent of major companies. Took a superpower collapsing. Chile after 1973: 30/42. Pinochet sold off 95 percent of state companies to insiders while building a domestic spy agency on a parallel track, then laundered his own cut through 125 secret accounts at a bank in DC. Took a CIA-backed coup. China's social credit system: 24/42. Built by Alibaba and Tencent, licensed by the state, wired into the central bank's digital currency. Americans called it authoritarian. They did it in the open. Now Tether: 40/42. Freeze and seize with no judge. $4.4 billion frozen across 2,300 cases, including $42.4 million held for 112 days on one agent's verbal request, no warrant, from people who never had an account with them. Every USDT transaction monitored in real time through the same firm the FBI and Secret Service contract with. Reserves required in Treasuries, which manufactures $2 trillion in captive demand for US debt by 2030. Incorporated in the British Virgin Islands, four men holding 86 percent, one of them operating under a second identity. Never completed a full independent audit. Fined $59 million for lying about the reserves. And the profits are going into gold and farmland. The man who wrote the authorizing law from inside the White House quit a month after it passed to go run the company. No coup, army, or collapse necessary. Our Congress passed it all on its own. Methodology, score, criterion, and the academic frameworks I used are on my Substack (link in bio).