Its not complete bulshit, but yea ... sbd is not printed atm, and since there is no new sbd added in circulation from the DAO, or interest, there is literaly only the exiating coins in circulation and whatever those whales on upbit hold ... so they play each other .... and plus the two ways conversions are not implemented on steem, so its imposible to convert steem to sbd ... so literaly no new sbd created...