Clif High - cryptos & code

Sept. 22, 2022 - Clif High

27:41

cryptos & code

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	Hello humans, hello humans.
	It's the 22nd of September.
	I'm on the way back.
	I've got more runs to do tomorrow.
	Going to discuss cryptos and gold, silver, and fiat currency.
	Because we're getting into that particular period of time where this is going to be part of and a driver for all of the uh political and social dramas that are going on.
	So the um World Economic Forum wants to shut everybody down, put us into their great reset, the Green New Deal where you don't get energy unless it comes from uh solar or wind, which is nowhere near.
	I think they they estimate that 7% of all the energy needs of the planet could be satisfied by solar and wind if the solar panels and the um and the windmills worked 24 by 7, which we know they don't.
	Uh so you know, I mean it's a it it's it's a dead end, it's a cul-de-sac, it's a huge waste because the cost of electricity, if you do zero sum accounting and figure out the cost of uh everything it took you to make that machine, uh the windmill, but you have to figure out all the the cost of making all of the machining tools, the cost of the mining to get the metal, all of this kind of stuff, right?
	Which is not reflected in the actual uh fiat currency price uh because they they want it that way because the debt-based uh money, the debt-based currency allows them to um alter and obscure uh real costs and effects.
	And so we've gotten into this thing where they can claim, oh, we can make electricity out of, you know.
	I mean, Merkel, uh uh the prime minister in Germany is saying, oh yes, you know, worse, we're good, we've got wind here.
	Germany's got lots of wind, so we don't need Russian natural gas.
	It's like bullshit, woman.
	Uh, I don't know anybody that believes that.
	Maybe the true believers do.
	Maybe the people that are out there with the climate riot, you know, these uh bizarro climate activists who have um propaganda and mind control and no facts, all right.
	They're they're in the same group that says the science is settled, there's client climate change, you know, shut the fuck up and do what we tell you.
	And it's like, wait a second, people.
	Science is never settled.
	There is climate change, but it ain't what you're saying, and we don't have to do anything about it because humans aren't causing it.
	And in fact, the only thing we can do is react to it, and we need to be burning more diesel because we're going into an ice age.
	But all of this is related to the background drama of the death of the dollar, which underpins most of the uh currencies on the planet.
	Uh that being the case, most of the currencies on the planet are having real problems.
	So in Argentina, we got 100% inflation per year, and 75% um uh central bank um interest rate values, which means it translates out to about 115% in mortgage money.
	So yeah, you know, I got a good loan there, 115% loan.
	Anyway, so uh some of my bitches here, uh let's get through those real quick, are that there are people that are not technical that have probably never read a line of code in their life and presented with a piece of code, they couldn't tell you what language or how it was computer code I'm talking about.
	Uh they couldn't tell you what language it was um for, what compiler it was written for, and not even necessarily what it did.
	And yet these people feel qualified uh to make statements out in the public that oh, there's a backdoor for this crypto, or all the cryptos are uh vulnerable to backdoors written by promise or uh written into the promise software.
	And being non-technical, they don't really understand that cryptocurrencies are open source.
	I wouldn't invest or or own any crypto uh that was not open source that I couldn't go and read their code.
	This is why I own no XRP.
	I've never been involved in Ripple or any of that because I can read their code, they've got it out there in the GitHub, they're not mined, their consensus algorithm, in my opinion, is absolute shit.
	And the only thing that you can or and their code proves to you that the only use for XRP is as a central bank messaging system.
	And in fact, it's the third tier.
	I mean, if you look at Ripple and XRP and where they fit into the banking infrastructure, they're way the hell down there.
	They're three, they're the also ran the third chunk of code that is vying to replace the SWIFT system.
	So you'll see people out there that have never read code that are all uh are pimping XRP and and um uh this kind of stuff, and they have no clue as to the underlying fundamentals of XRP and the fact that it only works with the banks,
	and yet they're out there making outrageous statements that it's gonna go to the moon, that it's gonna uh that XRP is going to replace Swift, and you have to understand they don't do the same things.
	That's like saying I'm going to replace a hose for watering my garden uh with a fire extinguisher.
	They don't do the same thing, you know, one's finite, one's limited.
	The the you're not gonna get a continuous stream out of the fire extinguisher, even if it was water-based, it's only gonna have a certain amount for a certain period of time.
	It does not do the same thing.
	Yes, they both technically um extrude stuff, one extrudes the water, and the other extrudes the foam or the water, whatever under pressure, but they're not the same fucking thing.
	And you got people out there saying, oh well, XRP is gonna replace Swift, and it doesn't do the same stuff as Swift, it can't replace Swift with the code as it currently exists for XRP, and you can go read the fucking code and have a look at it.
	Um it's out there at GitHub.
	So, and you have to understand, even okay, so I'm not a uh adherent to the idea that Bitcoin was created by the CIA.
	Uh digital currencies uh had been investigated since the 1960s, and they they had a uh central flaw that was cured with Bitcoin, and that was the double spend or multiple spend problem.
	And Bitcoin, through the consensus algorithm, solved that issue.
	It makes it slow, but it makes it absolutely certain and sure.
	Under the circumstances, um doesn't bother me if Bitcoin, if you think Bitcoin was um created by the CIA, fine, you're not gonna invest in it, maybe.
	Um I've read the code, so I know that that even if it even if Satoshi Satoshi Nakamoto was a CIA group or a CIA employee, it doesn't matter to me because the concept of the decentralized distributed uh consensus algorithm processing is valid independent of its creator.
	So people that don't get involved with Bitcoin uh or other solid cryptos, and there are some unsolid ones, I'll get into in a second, but um uh people that don't get involved in Bitcoin because they think it was uh a tool of the deep state are are really kind of diluted because you can look at the code here,
	and the analogy would be um so you and I are over here and we got a canon and we're shooting at the CIA with our cannon, and we're at war with the CIA, and the CIA is is shooting back at us with their cannon.
	Only the CIA one day invents this new thing, and we see them over across the field where we're shooting at them, um, and they go out and they chop down all kinds of trees and they get all kinds of dirt and mud and rock and stuff, and they come back and they build themselves a redoubt, a fort.
	Um walls, trenches, this kind of stuff that they can go and hide in when we shoot at them.
	And all of a sudden, our shooting at the at the CIA Does not yield the same level of results.
	But so you guys, though, are saying, no, no, no, we can't use this new invention of a fort to protect ourselves the way the CIA is doing, because it was invented by the CIA and the CIA is evil.
	Now, the CIA is indeed evil, right?
	Although there are good people in it.
	The organization itself is corrupt and it's um uh you know, it's a wart on the on the butt of humanity.
	But it doesn't mean that everything that comes out of it is either good or bad.
	So there you'll see people that assume that just because it's something was classified by the CIA that it's legit.
	Nothing could be further from the truth.
	Doesn't mean it's been vetted, that it's valid, doesn't even mean that it's factual.
	Could mean that they just invented it and they're gonna classify it and then leak it out to fuck with your mind.
	So people that, as I say, people that don't get involved with cryptos because they think there's a deep state nefarious hand behind them, mostly I bet you those people don't read code, otherwise they would be convinced.
	They're not technically oriented, otherwise, they would be convinced by the code that even if the CIA did invent it, there's no downside to using it because of the distributed and decentralized and consensus algorithm nature of the of the stuff itself.
	So, as I say, I don't think the CIA had a hand in it, but I could care less.
	I've looked at the code, Bitcoin's solid.
	Um you need to understand it's totally distributed.
	The people that are mining Bitcoin, I could right now fire up a PC, write my own fucking code and mine Bitcoin and go into competition with the other people that are mining it.
	Uh so anybody can do this.
	Um, in that sense, it's 100% decentralized and distributed.
	This means, unlike Ripple, which is uh if you go read their code, their consensus algorithm comes down to uh everybody has to agree that that we all agree with the bank.
	Uh but um the it as I say, Bitcoin is is solid product.
	There's no backdoor in Bitcoin, there's no backdoor in any of these cryptos because you have to understand there the code itself is decentralized.
	So there's there's code that that is run by the people that do crypto mining, and you'll never use any of that code on your machine.
	And it could have backdoors in the crypto mining, you'd never know about it nor care.
	And in fact, it's open source, so it doesn't need a backdoor.
	You can actually go and look at any crypto.
	You can you could write your own code to find that crypto protocol on the internet and there and expose everything that's going on with it.
	This is how uh blockchain.io works is that somebody wrote some code that just examines the blockchain and then provide you with what information that can be um gotten there, right?
	And so uh anyway, so in the future here, we're entering into a well, we're entering into it now.
	This uh world of uh multiple payment systems, and so I guess on December 13th of this year, the Federal Reserve is bringing out it, that's that's my understanding now,
	is that they're going to announce the uh USA central bank uh digital currency, they're calling it a payment system called pay now or something or Fed Pay or something.
	Um, and so it they're not actually coming out and calling it our central bank digital currency.
	So they're not coming out and calling it the new dollar or the replacement for the dollar, but it is indeed, right?
	That's what they want you to do.
	So my way of thinking is that nope, not gonna have any fucking thing to do with any federal payment system, and I will um uh take some level of suffering in my life to avoid that.
	Uh use cash, which you know increases the time cost of doing transactions because you got to do it in face to face and so on.
	Uh, but all of these things are relatively minor impacts on my life uh in an Effort to undo and get away from the major impact, which is the central bank deciding, oh,
	okay, so you've got you know, you've got a hundred dollars in your account, and we're gonna tell you that your hundred dollars will become $70 by the end of the month, and if you don't spend it by the end of this month, it'll become $30 by the end of next month, and the following month it will disappear.
	So you're forced to spend it and not save it.
	This is the only way they can keep their system going.
	I don't suspect that their system is going to work.
	All right, so I'm of the opinion that the central bank uh digital currencies will fail, and they will fail in a spectacular fashion by way of hacking.
	That's that's my opinion.
	That there are people out there that are so fierce about all of this that they will hack that system and destroy it, uh not deliberately destroying it, but I mean they will make it moot uh within a very short period of time.
	So the same forces that aid Bitcoin.
	So if they came on out and said Bitcoin is safe and secure, and it was um uh it had a backdoor in it, you would know that that back door existed by now.
	You would have proof of it, you'd be able to Google it, you'd be able to call the code up and see the back door, you'd have people writing articles like myself would write articles explaining how this back door worked and what its existence was, and probably even who wrote it.
	There's only so many ways you can have a backdoor.
	Basically, uh there's uh the point of a backdoor in any computer system is to allow uh access to unauthorized users, people that are not authorized by the owner of that machine, and so um if Bitcoin had a back door, you'd see it, someone would have found it, like myself.
	In fact, bragging rights would have been really cool to say, hey, look, this is a guy that discovered the uh dereferencing pointer to the uh dynamic link library that uh is the backdoor in Bitcoin, and you know, there isn't such a thing in Bitcoin, there are another, there is another code.
	Uh so there are some cryptos where they do have a backdoor, but it's like kind of meaningless in terms of it doesn't affect you because that that quote back door is on onto the blockchain, it's a just another access to the blockchain, and it does not in any way affect your machine or any code you're running on your machine because basically, bear in mind you're running wallets, right?
	And you can create as many wallets as you want.
	I think I've got like I think I've got maybe nine or ten crypto wallets.
	Uh mostly I got them to investigate the software that the wallet makers were uh producing to see if there was a superior chunk of software out there, and so I would get it, check it out, and so on.
	And you know, I use Exodus as the my primary wallet.
	Uh I've got others out there that store other coins.
	I've got a different wallet for uh cold storage or long-term hot storage, however they they describe it these days, and um, but again, it's all just checking out the various wallets.
	So there's no way that anybody looking at the at a blockchain can determine who owns what cryptos and so on.
	This is the problem for the IRS.
	So if if you have a crypto and you have a wallet on your PC, um that crypto is uh is on the blockchain is assigned ownership basically to a wallet address, and there's no identifying marks or uh identifying characteristics that would say that you own this instance of that wallet which has in it this crypto.
	Uh since it's all numerics, there's no real cross ties unless you provide them.
	It's possible to suss out who owns what, it's possible to do it in a way that um you could determine to some extent who is uh an owner of of what wallet, but beyond that, I mean that's as far as it goes.
	You can't get Access to that wallet, you don't know where that wallet is, what machine it's on, any of this kind of stuff.
	Thus, your your crypto value and the cryptos themselves are secure.
	Now you could have your wallet fished away from you, you could have your individual machine.
	You could do something that would allow someone to come on in and see that machine and access it.
	And if they knew you were a big proponent of cryptos, maybe they would suspect that you had um wallets on a on a PC, and maybe they would try and crack your PC to be able to snoop around and see if they could find the wallet, then they'd have to crack the wallet, though.
	They'd have to open the wallet up in order to be able to get at the cryptos.
	So big big kerfuffles about an impossibility, in my opinion, that there would be an effective level of uh backdoor stuff for cryptos.
	That's why I get really pissed about all these individuals that say, oh, cryptos are no good, and all this kind of stuff.
	Like, you know, so Catherine Austin Fitz is a non-crypto person because it's because of whatever reasons, right?
	She has her reasons.
	Um, you know, it's digital and all of this kind of stuff, and that that worries her.
	Um it doesn't help that you've got people like uh her friend uh uh Joseph Farrell out there saying they're backdoors and that promise software can come on in.
	And it's like, okay, so the FBI and these people have this promise software, it can examine the internet.
	You can do that yourself.
	You can write your own code to go and examine the internet.
	I don't have any promise software in any of my machines.
	It does not uh uh any of my machines, none of my machines have any back doors that would allow uh the software to uh or anybody from the FBI or whoever to come in and access the stuff I've got on my machine uh surreptitiously, right?
	So that that just can't happen.
	Uh the promise software can do a lot of things with windows.
	I don't run Windows as my OS, so uh we're at a uh a place where it's difficult.
	You I mean, technically, I can always come up with some kind of a scheme where someone could crack into my system to the point that they could uh at least stomp around in some of the directories and see what I've got there.
	But the likelihood is very, very, very small, and the amount of effort is huge.
	And even then you wouldn't be able to get at uh any of the cryptos due to how the wallets are structured, and so cryptos, gold and silver are all distributed to a certain extent.
	Cash also is is a distributed decentralized uh payment system.
	It really irritates the uh mother wefers that they don't know how you're spending your money, they want to be able to control everything and shut you down, and um they're making their big push on it.
	I mean, these people are really fucking stupid, and their their digital uh currency now, which we call the US dollar, which is you know on all your payment cards and that sort of thing, that's crashing, and it's crashing in a big way, they just had to raise interest rates here in the US, 75 basis points.
	Maybe next year they'll be raising them at three and four and five whole points at a time, trying to stave off uh increasing level of of inflation.
	Powell has signaled that he, as chairman of the Federal Reserve, that he's intent on uh saving the banking system, and that means he's gonna sacrifice the dollar to save the banking system.
	So that means that so they're gonna be taking the same approach as Argentina.
	Argentina's got a hundred percent inflation annually now, and uh is running at 75% uh interest rates from the through the central bank, so it goes out to about a hundred and some odd percent interest on mortgages, and that's barely that's almost enough to allow their country to keep functioning.
	It's it's degrading, it's degrading rapidly, it's degrading because their money is tied to ours and ours is dying.
	And they they don't have their wars.
	They don't have the giant global pandemic or the shutdown.
	They're gonna have to do something.
	They're gonna try and push uh climate, in my opinion, as the uh the reason to lock down the whole planet and to save their um power base, which is this uh fake debt-based currency.
	I don't think it's gonna work.
	I think over these next few years, and it'll probably take a number of years, we're gonna see the uh dollar go away.
	That is to say the central bank of the United States, the Federal Reserve, I think will ultimately lose its charter and be um undone, uh, you know, removed, and uh uh we'll have treasury issued non-deb-based money, but uh it'll take us some time to get there.
	So, in my my way of thinking, the sensible person wants to get out of the situations that place them at risk.
	So, in my opinion, you don't want to have a whole lot of of your assets tied up in US dollars, and especially digital dollars.
	Cash would be better to some extent as long as it lasts, but even it is having um purchasing power degrade, and um it's you know, it is still completely under their control.
	It's not as bad as their upcoming new pay now digital uh or central bank digital currency where they can shut you off at a whim.
	They can say, Oh no, you've expressed an unacceptable political opinion, therefore you're now a non-person.
	Uh, therefore, you don't get to have any uh ability to interact with our economy and buy stuff, and we hope you starve and die.
	And that's basically their whole approach, just like the Chinese, just like the CCP.
	Uh, these people are fundamentally not humanists, right?
	They're not for humanity, they're for control, and uh they want to control everything, and they want to control you.
	Their method of control uh is failing them, and they needed to replace it desperately, they needed a nuclear war, which we're gonna have a threat of those, but I don't think we'll go into it.
	Um it's necessary that we have that level of tension though, that we have that um peak experience uh here relative to the Great Awakening.
	And over the next few years, we'll be getting into a uh replacement system for the central bank digital currency that we call the USA dollar.
	As I say, it's in my opinion, it's better to be operating already in a parallel system and out of the dollar.
	Even things like Bitcoin being beat down in terms of its uh relative dollar price now, doesn't worry me a bit uh because I know it's the central bank reacting uh to people getting away from their control and currency, and they're doing everything they can to fight it.
	This will continue.
	Uh you know, no reason to expect it not to.
	At some point they won't be able to fight it anymore, and you will see the escalation of uh cryptos relative to US dollar terms.
	I think we're within four months of that.
	I think we'll have a see.
	Yeah, I think it'll come in probably maybe it'll be five months, maybe it'll be in by by February.
	Um but it'll be relatively soon that we'll break loose, and this is uh could also affect gold and silver, and that at that point the things are gonna get really really really strange.
	Uh currency-wise, and also in politics, because all politics is driven by the central bank's uh debt-based currency.
	And once it goes, all kinds of people are not gonna have an income.
	All these uh people that relied on bribery, extortion, etc., uh, which is all of the money that you cannot um uh that you don't report.
	So but once it's gone, it's like it's gone, right?
	You don't have a legit source of income, you just rely on bribes, and they can't Afford to bribe you anymore, or the thing they're bribing you with has no purchasing value, and there you go.
	And this is our future.
	Getting back, getting ready to pull off here and go into another set of stops.
	Um, probably do another one of these tomorrow, maybe.
	Uh, picking up on some of the other aspects of the cryptos and the gold and silver.
	Anyway, we'll see.
	Uh, a lot of work here trying to get ready for uh basically the end of the world as we knew it, because it's coming, and that's uh if you've lived all your life under uh fiat currency, when it crashes and dies, it's gonna be a big change.

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