Dollar tether story an attempt by banks to create fud

Earlier this week there was a report that the dollar tether was used by binance to manipulate bitcoin. This is entirely false because they seem to think that this was tied to the exchange. My theory is that savy investors were moving to tether at highs and back into coins when there were dips. This is what i was doing, as well as other investors. They also stated that it was not backed by actual dollars. How is this any different from the dollar being backed by gold. They dont let you exchange dollars for gold anymore and we have no clue of the circulating supply of usd. I can guarantee you that most investors are not going to buy an equity without knowing outstanding shares and floats. Its almost as bad as having a transfer agent gagged in otc pink land. To me, this was a scare tatic by special interest to manipulate price or destroy market. People need a benchmark and save haven for dips when the markets fluctuating. This is an attempt to destroy the backbone of the market