It's official: The Fed's Reverse Repo Facility (RRP) is now down ~$2.5 TRILLION from its peak in December 2022. The US is borrowing so much debt to fund deficit spending that the RRP has been DEPLETED to a 1,386 day low. What does it mean? Let us explain. (a thread)

SOMEONE BOOK BILL AND ME ON A SHOW TOGETHER Facts: Hinman, connected to ETH in significant ways, including making millions as an ongoing profit sharing partner with people representing ETH and ETH companies, on June 14, 2018, gave a speech, declaring BTC & ETH non-securities. In Hinman’s words, he said his speech wasn’t significant related to BTC because BTC was already accepted NOT to be a security. Regarding ETH, however, he acknowledged his speech was a BIG deal. As we know, the SEC never makes public comment on specific tokens or projects. After ETH’s free pass, how many times did we hear Calyton, Hinman, @HesterPeirce, Gensler, and EVERYONE at the SEC, say “it would be inappropriate to discuss a specific token or project.” Yet, it was appropriate for Hinman to comment this one time? 🧐 When I call it Hinman’s Ether Speech it’s because Hinman himself labeled it the “Ether Speech.” We know this because we have the emails between Hinman and others at the SEC leading up to the speech. When you look at the people who received a copy of the draft, many SEC divisions were involved, except Ethics. Prior to the speech, Hinman was told several times he was violating the financial conflict laws because he kept meeting with his partners, especially considering his partners had business before the SEC.👇 What kind of business, you ask? How about his partner from China filing for Canaan’s IPO? What’s Canaan? At the time, only the world’s largest manufacturer of ETH mining equipment.🤨 That’s right, Hinman’s partners - the same partners he was told to stop meeting - were pushing for an ETH mining equipment company IPO during the same time Hinman planned on giving ETH a free pass. The initial Form F-1 registration statement for Canaan’s IPO was filed with the SEC on May 15, 2018. Hinman’s speech was June 14, 2018. How do we know Hinman ignored SEC Ethics personnel regarding this IPO Hinman met with his China partner the same day a letter from Hinman’s Division went out to that same partner.👇 While some people tied to ETH called me and @digitalassetbuy @DigPerspectives and others conspiracy theorists, @EMPOWR_us, an independent Watchdog regarding ethics, with no tie to crypto, sued the SEC and obtained the emails. EMPOWR also made a referral to the IG overseeing the SEC. A final report over Hinman’s conflicts has been issued but not made public. EMPOWR sued the SEC again, demanding the report. Do you remember the 2 year litigation battle between @bgarlinghouse @s_alderoty 🆚 Jorge Tenreiro and other SEC lawyers? Remember the battle over whether Hinman could be deposed, which he was? The lawyers at the SEC fought harder to stop that deposition than lawyers fight to stop a deposition of the President. Lawyers for @a16zcrypto helped ✍️ the speech. That is an incontestable fact. We have videos of the lawyer who helped ✍️ it publicly stating: “Hinman pretty much followed the memo I sent him.” And wher does Hinman work today: @a16zcrypto. The revolving 🚪of regulatory capture on full display. Hinman met multiple times with ETH co-founders, including @VitalikButerin. Take a look at the DRAFT speech BEFORE meeting with Vitalk, 8 days before the speech, compared to the FINAL version and you’ll notice a big difference. The draft before meeting Vitalik discussed decentralization of miners. After meeting with Vitalik, the final version does not. 🤔 Even lawyers present during meetings with Hinman admit ETH was not decentralized, despite Hinman declaring ETH “sufficiently decentralized” and thus, not a security.👇 After he gave the speech, Hinman would speak at conferences like the one below. Back then, he would say only ETH & BTC had clarity (after he gave the clarity). And now he’s back, recycling the same bullshit and ignoring the Ruling that XRP is not a security from a case that he pushed to bring. We should be on a panel together.

The Federal Reserve says stablecoins could back the dollar’s reserve status. A sovereign wealth fund is being formed right now, and the USA on record holds 8,133.5 metric tonnes of gold priced at $42 on its balance sheet. Now... This would be a powerful move; gold stablecoin.