Is Tether a stable Cryptocurrency?

Tether is a cryptocurrency like any other, but unlike any other Tether was originally intended to be pegged against the dollar. What this means is it should be at a ratio of 1:1 with the US Dollar.

Recently however, the USDT/USD (Tether/Dollar) has significantly fallen from 1 Dollar to 0.997 of a Dollar (https://www.coingecko.com/en/price_charts/tether/usd) and as a consequence put several exchanges under strain with the prices on those exchanges fluctuating in quite unpredictable ways.

Tether.to has not released a statement as to what the cause of this calamatous issue actually is, and this may have the knock-on effect of making many people very wary of the cryptocurrency and its associated exchanges, while newsbtc.com have posted an article questioning the discrepancies of Tethers balance sheet. (http://www.newsbtc.com/2017/03/21/tether-balance-sheet-unveils-large-discrepancy-usdt-usd-reserves/)

The last post on the Tether facebook page is dated 4th June 2015 and the most recent on Twitter is a retweet from April 6th 2017, ironically posing the question - "Why has Tether been successful in maintaining a dollar peg while other cryptocurrencies haven't?".

The Terms of service held in the /legal folder has this little gem waiting for you, should anything go wrong with your account or Tethers. "There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers."
(https://tether.to/legal/) - Section 3

So to conclude Tether may not be as stable as we might like to believe, but with the company in silence over the matter, suspicions can only rise!