So their idea of pegging is just a forcefully worded request?

"Sure, it's pegged, Anyone who fills in the right forms can get their USD back. After a few weeks. And if the request is big enough. Oh, but there was a problem with your form. Sorry. Try correcting it and resubmitting it. No, we can't tell you what the problem was."

More of a vague promise to buy. They have a lot of dollars. If tether skips to 99 cents will they buy it from people to push the price up? Maybe.

It’s been sitting at 99.9 for several days now.