Nancy Pelosi
Annual salary: $223,000
Net worth: $202 million

Mitch McConnell
Annual salary: $200,000
Net worth: $95 million

Chuck Schumer
Annual salary: $210,000
Net worth: $75 million

Elizabeth Warren
Annual salary: $285,000
Net worth: $67 million

@elonmusk @DOGE List of additional U.S. politicians with a net worth exceeding $50 million, sorted in descending order of net worth. I am not suggesting anything. Make your own conclusions.

J.B. Pritzker
•Annual Salary: $177,412
•Net Worth: $3.4 billion

Doug Burgum
•Annual Salary: $129,096
•Net Worth: $1.1 billion

Darrell Issa
•Annual Salary: $174,000
•Net Worth: $460 million

Jim Justice
•Annual Salary: $150,000
•Net Worth: $450 million

Jared Polis
•Annual Salary: $123,193
•Net Worth: $400 million

Glenn Youngkin
•Annual Salary: $175,000
•Net Worth: $400 million

Rick Scott
•Annual Salary: $174,000
•Net Worth: $300 million

Mitt Romney
•Annual Salary: $174,000
•Net Worth: $300 million

Kevin Hern
•Annual Salary: $174,000
•Net Worth: $361 million

Dan Goldman
•Annual Salary: $174,000
•Net Worth: $253 million

Mark Warner
•Annual Salary: $174,000
•Net Worth: $215 million

Michael McCaul
•Annual Salary: $174,000
•Net Worth: $200 million

Scott Peters
•Annual Salary: $174,000
•Net Worth: $200 million

Greg Gianforte
•Annual Salary: $174,000
•Net Worth: $189.3 million

Paul Mitchell
•Annual Salary: $174,000
•Net Worth: $179.6 million

Vernon Buchanan
•Annual Salary: $174,000
•Net Worth: $157.2 million

Mike Braun
•Annual Salary: $174,000
•Net Worth: $136.8 million

Don Beyer
•Annual Salary: $174,000
•Net Worth: $124.9 million

Dean Phillips
•Annual Salary: $174,000
•Net Worth: $123.8 million

John Hoeven
•Annual Salary: $174,000
•Net Worth: $93.4 million

Suzan DelBene
•Annual Salary: $174,000
•Net Worth: $79.4 million

Fred Upton
•Annual Salary: $174,000
•Net Worth: $79 million

Ron Johnson
•Annual Salary: $174,000
•Net Worth: $78.5 million

Roger Williams
•Annual Salary: $174,000
•Net Worth: $67 million

Buddy Carter
•Annual Salary: $174,000
•Net Worth: $66.5 million

Rick W. Allen
•Annual Salary: $174,000
•Net Worth: $52.1 million

Sources:
•opensecrets.org/personal-finan…
•ballotpedia.org/Net_worth_of_U…
•en.wikipedia.org/wiki/List_of_c…

1) If you look at most cryptocurrencies and how they were sold and distributed, I’d say most are clearly securities outside of Bitcoin and stablecoins. What’s shocking is how long it took the SEC to come out and say it. It would have been so easy to issue formal guidance earlier. 2) If the rules were more clear earlier and registration was straightforward, we would see many tokens trading on main stock exchanges +ATSs and included into ETPs and retirement portfolios. Disclosures would have also benefited investors as well as projects long term.

New York is looking crazy! 😆 Not that far off… this is the George Washington Bridge in New York.

Biden: "Let me be very clear, while depositors are being protected, shareholders are losing their investments. Critically, taxpayers are not the ones that are on the hook."

The truth: FDIC absorbs toxic assets and JPM gets a 20%+ IRR. Public pays for it.
JPM is expecting a $2.6Billion gain, $2 Billion restructuring cost write off and a $50 Billion fixed term loan. Where does the money come from if taxpayers are not impacted?

https://twitter.com/gaborgurbacs/status/1653003203531636737

JPMorgan is expecting a $2.6 Billion gain and $2 Billion restructuring cost write-off from saving First Republic Bank. JPM also deposited $10 Billion to the FDIC for a $50 Billion fixed-term loan.

Soon there may be only one bank left standing.

uk.news.yahoo.com/california-fin… Bank consolidations are not uncommon. The federal reserve and banking system is set up to consolidate power/banks… regionals will have a very difficult time to survive. Furthermore, no new bank charters are given out. You make your own conclusions.

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 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.

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 Top U.S. Treasury Sellers in the Past 1 Year.
Source: ticdata.treasury.gov

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.

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

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. 👇 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. 👇

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.

I am old enough to remember when Coinbase was pushing to switch USDT to USDC. Uncle Gabor nailed it. #USDT

https://twitter.com/gaborgurbacs/status/1621842103637524481

There is more than $22 Trillion in the U.S. banking system. The FDIC has $124.5 Billion on its balance sheet and a $100 Billion line of credit from the U.S. Treasury. FDIC assets cover only 1.26% of deposits. About the size of Silicon Valley Bank. One bank. Let that sink in. Of course, the FDIC doesn’t cover anything above $250k… so basically no businesses. It’s practically worthless. People trust banks more than what they should. Tier 1 leverage ratios (tier 1 capital/consolidated assets) show just how much more leveraged banks are vs stablecoins.

1) Tether's Year-end 2022 Tether Independent Accountant report is in: Tether reveals $700m Profits For Q4/2022. Commercial paper exposure eliminated, secured loans reduced, assets exceed liabilities.

Blog:
tether.to/en/tether-cont…

Transparency report: tether.to/es/transparenc… 2) The reserve portfolio composition is primarily short term U.S. t-bills, cash, cash equivalents and other short term market instruments. U.S. T-bill maturity is under 60 days, reverse repos are rated A-2 or better and MM funds are highly liquid. Some precious metals held.

SEC chair says system used by Ethereum following software update could trigger securities laws. Literally published on day 1 of the fork/merge. I have been saying this for over 6 years that POW to POS transitions can draw regulatory attention.
wsj.com/articles/ether… To be clear, I am not saying that ETH is necessarily a security because of its proof model, but regulators do talk about staking in the context of dividends which if one feature of what securities laws call a "common enterprise". There are other factors in the Howey test too.

Sri Lanka protestors storm the presidential palace in the capital after the country’s economy collapses due to energy crisis. A moment for the history books and a sight to behold.

Protestors broke through the Sri Lanka central bank gates.

1) Proud of @PointsVilleApp for offering 5% cash-back from 100+ iconic brands (CVS, Nike, Adidas, Autozone, Wayfair, etc...). This helps our users save at a difficult time and supercharges our partners' businesses working with the largest and most recognized industry giants. 2) As a @PointsVilleApp partner, you can create and give-away Visa cards that is spendable anywhere that accepts a Visa. The card earns 5% back from 100+ big brands (see above). Cash just goes back onto your card after spending with our partners. Super simple. (T&C applies)

1) We are excited to announce VanEck’s @MVISIndices
partner with @FTX_Official on a first of its kind perpetual futures listed on FTX. We bridge traditional finance and digital assets via institutional quality access products. @JanvanEck3 @SBF_Alameda PR: mvis-indices.com/news/index-lic… 2) The perpetuals fututues track the MVIS CC DA 10 and MVIS CC DA 25 indices which are modified market cap-weighted indices that track the performance of the 10 and 25 largest & most liquid digital assets. To ensure investability the indices undergo rigorous liquidity screenings.

1) "Most of the $1.9 trillion House bill has little to do with the virus. Here’s a breakdown." Source: @wsj wsj.com/articles/the-n… 2) "The Covid cash includes some $75 billion for vaccinations, treatments, testing and medical supplies. There’s also $19 billion for “public health..."

1/ I just published The Investment Case for #Bitcoin. See the @vaneck_us blog + slides at below link.
Outline + tweetstorm below:
+ Bitcoin as a store of value
+ Bitcoin in an investment portfolio
+ Accelerating adoption
> Retweet if you like it
> Source: vaneck.com/blogs/market-i… @vaneck_us 2/ Monetary value is value that exists in spite of an economic good not having intrinsic value or value that exists in excess of an economic good’s intrinsic value. Historically, most objects of monetary value have no relationship to a sovereign entity.(eg: gold, gemstones, etc.)