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Gabor Gurbacs Profile picture
@gaborgurbacs
Apr 5 • 7 tweets • 4 min read Twitter logo Read on Twitter
1) Today in 1933, President Franklin D. Roosevelt signed Executive Order 6102 forbidding the hoarding of #gold coin, gold bullion, and gold certificates within the continental United States. Make a plan ₿ for future black swan events. The technology is available. #Bitcoin #XAUT Image
2) In 1971, President Nixon ended the Bretton Woods agreement and un-tethered the Dollar from Gold, attacking gold once more. Yet gold is still around and went from $35/oz to $2,000+ today. Even states and central banks use gold as a hedge. Gold became what it is under pressure.
3) While many say that Gold failed as money, the purchasing power of major fiat currencies and commodities have significantly eroded relative to Gold in modern markets. Don't sleep on hard moneys such as Bitcoin and #Gold. Image
4) In fact, central bank Gold purchases in 2022 were the highest on record since the 1950s. Even central banks are increasingly hedging against their own currencies and macro bets. Image
5) Furthermore, the U.S. Dollar and many leading economies are most likely still safe at a basic level in case of a currency collapse because of Gold.
6) IMO, Tether Gold is what the U.S. Dollar could have been if the Bretton Woods System didn’t end in 1971. Technology and distribution channels weren’t available to support commodity-based hard moneys in the 1970s. Today the technology is available and it can change everything. Image
7) Lastly, it's no coincidence that Satoshi's birthday is April 5. It indeed goes back to Gold's history and executive order 6102. Bitcoin is growing and gold is digitized. Hard money is gaining traction. We are working on it. Happy Birthday Satoshi!

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More from @gaborgurbacs

Gabor Gurbacs Profile picture
Apr 3
Foreign central banks are selling U.S. Treasuries. Tether is buying a lot of U.S. Treasuries.

U.S. leadership should appreciate Tether for buying and holding U.S. treasuries.

If Tether was a country, it’d be among the top 30 holders of U.S. treasuries.

Chart from: @wmiddelkoop Image
Top U.S. Treasury Sellers in the Past 1 Year.
Source: ticdata.treasury.gov Image
Top U.S. Treasury Buyers in the Past 1 Year.

Source: ticdata.treasury.gov Image
Read 4 tweets
Gabor Gurbacs Profile picture
Mar 22
If you really want to know what’s going on, you only need to know this. There is an all out war against the financial sector, regional banks and crypto alike. The recent actions are a show of force to impel compliance. It’s no accident that the new CBDC paper dropped today.
The regional bank and crypto sectors are risks to centralized financial control and CBDC implementation. Since those elements won’t back down, their systematic elimination has commenced. Such financial pogrom is incongruent with everything that made America what it is today.
ECB’s Lagarde said yesterday that a Digital Euro has a key role in payment autonomy and that “payment apps, cards aren’t necessarily European. Digital Euro is intended to be safe, sovereign & available.”

Maybe the Great Reset isn’t a conspiracy after-all?
bloomberg.com/news/articles/…
Read 5 tweets
Gabor Gurbacs Profile picture
Mar 22
FOMC today
It's a 25bps rate raise/hike, but it's also a bailout. We just call the bailout part BTFP now. ding ding ding ding ding Image
Fed Chair Powell says that the Fed is committed to bring inflation down to 2%. I don't think a 2% is realistic. In my view, the new normal, if things ever stabilize, will be 3-4% for a while.
Read 4 tweets
Gabor Gurbacs Profile picture
Mar 21
1) The #Hungarian #Pengo has experienced the most serious #hyperinflation in the history of #currencies. This note is a 1 billion-billion Pengo note that became worthless in the matter of weeks. While it seems like history, hyperinflation is real and possible today. 👇 Image
2) The Hungarian economy could only be stabilized by the introduction of a new currency, and therefore, on 1 August 1946, the Forint was reintroduced at a rate of 400 000 000 000 000 000 000 000 000 000 (400 octillion) = 4×10^29 Pengo, dropping 29 zeros from the old currency. 👇
3) The daily daily inflation rate in Hungary has been increasing since 1938 and in between 1945 and 1946 the daily inflation was over 200 percent! See cost of living index & exchange rate of the pengő with the U.S. dollar(log scale). The cost of living spiraled out of control!👇 Image
Read 6 tweets
Gabor Gurbacs Profile picture
Mar 19
The global derivatives market is a $2+ QUADRILLION (2,000+ TRILLION) ticking time-bomb. When banks fail, derivatives won't just unwind in an orderly fashion. Few people understand this.

These are some of the top U.S. banks ranked by derivatives exposure (double-digit TRILLIONs).
Credit Suisse has a $39 Trillion off balance sheet derivatives exposure. We don't know: 1. whether it's all delta neutral. 2. What's getting picked up by UBS. 3. Which countries an unwind could impact. A chain reaction of bank unwinds could become potentially catastrophic.
The Bank of International Settlements estimates that there is a combined $52+ Trillion off balance sheet Dollar-denominated debt among non-banks outside of the U.S. and non-U.S. banks. In case of non-orderly derivatives wind-downs this could become extremely problematic.
Read 4 tweets
Gabor Gurbacs Profile picture
Mar 11
I am old enough to remember when Coinbase was pushing to switch USDT to USDC.
Uncle Gabor nailed it. #USDT
$3.3 Billion out of $40 Billion (~8%) circle reserves tied up at SVB.
Read 4 tweets

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