Clif High - cryptos & code

Sept. 22, 2022 - Clif High

27:44

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.
	I'm 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 political and social dramas that are going on.
	So the 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 solar or wind, which is nowhere near.
	I think 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 windmills worked 24 by 7, which we know they don't.
	So, you know, I mean, 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 everything it took you to make that machine, the windmill, but you have to figure out all 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 fiat currency price because they want it that way, because the debt-based money, the debt-based currency allows them to alter and obscure 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, the prime minister in Germany is saying, oh, yes, you know, 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.
	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 bizarro climate activists who have propaganda and mind control and no facts.
	All right.
	They're in the same group that says the science is settled.
	There's 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 currencies on the planet.
	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% central bank 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 some of my bitches here, 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.
	They couldn't tell you what language it was for, what compiler it was written for, and not even necessarily what it did.
	And yet these people feel qualified to make statements out in the public that, oh, there's a back door for this crypto, or all the cryptos are vulnerable to backdoors written into the promised software.
	And being non-technical, they don't really understand that cryptocurrencies are open source.
	I wouldn't invest or own any crypto 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 on 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 away 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 are pimping XRP and 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 going to go to the moon, that it's going to 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 with a fire extinguisher.
	They don't do the same thing.
	You know, one's finite, one's limited.
	You're not going to get a continuous stream out of the fire extinguisher.
	Even if it was water-based, it's only going to have a certain amount for a certain period of time.
	It does not do the same thing.
	Yes, they both technically extrude stuff.
	One extrudes the water and the other extrudes the foam or the water or whatever under pressure, but they're not the same fucking thing.
	And you got people out there saying, oh, well, XRP is going to 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.
	It's out there at GitHub.
	So, and you have to understand, even, okay, so I'm not a adherent to the idea that Bitcoin was created by the CIA.
	Digital currencies had been investigated since the 1960s.
	And they had a 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, it doesn't bother me if Bitcoin, if you think Bitcoin was created by the CIA, fine, you're not going to invest in it, maybe.
	I've read the code.
	So I know that even if it, even if Satoshi Nakamoto was a CIA group or a CIA employee, it doesn't matter to me because the concept of the decentralized distributed consensus algorithm processing is valid independent of its creator.
	So people that don't get involved with Bitcoin or other solid cryptos, and there are some unsolid ones, I'll get into it in a second, but people that don't get involved in Bitcoin because they think it was a tool of the deep state are really kind of deluded because you can look at the code here.
	And the analogy would be, so you and I are over here, and we got a cannon, and we're shooting at the CIA with our cannon, and we're at war with the CIA, and the CIA 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.
	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.
	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 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, you know, it's a wart on the butt of humanity.
	But it doesn't mean that everything that comes out of it is either good or bad.
	So you'll see people that assume that just because 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 going to 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 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.
	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.
	So anybody can do this.
	In that sense, it's 100% decentralized and distributed.
	This means, unlike Ripple, which is, if you go read their code, their consensus algorithm comes down to everybody has to agree that we all agree with the bank.
	But as I say, Bitcoin is solid product.
	There's no backdoor in Bitcoin.
	There's no backdoor in any of these cryptos because you have to understand the code itself is decentralized.
	So there's code 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 could write your own code to find that crypto protocol on the internet and expose everything that's going on with it.
	This is how blockchain.io works, is that somebody wrote some code that just examines the blockchain and then provides you with what information that can be gotten there, right?
	And so anyway, so in the future here, we're entering into a, well, we're entering into it now, this world of multiple payment systems.
	And so I guess on December 13th of this year, the Federal Reserve is bringing out, that's my understanding now, is that they're going to announce the USA central bank digital currency.
	They're calling it a payment system called Pay Now or something or FedPay or something.
	And so 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 going to have any fucking thing to do with any federal payment system.
	And I will take some level of suffering in my life to avoid that.
	Use cash, which, you know, increases the time cost of doing transactions because you've got to do it in face-to-face and so on.
	But all of these things are relatively minor impacts on my life 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 $100 in your account, and we're going to tell you that your $100 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 digital currencies will fail and they will fail in a spectacular fashion by way of hacking.
	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.
	Not deliberately destroying it, but I mean they will make it moot 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 it had a back door in it, you would know that that backdoor 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 backdoor worked and what its existence was and probably even who wrote it.
	There's only so many ways you can have a backdoor.
	Basically, there's the point of a backdoor in any computer system is to allow access to unauthorized users, people that are not authorized by the owner of that machine.
	And so if Bitcoin had a backdoor, 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 dereferencing pointer to the dynamic link library that is the back door in Bitcoin.
	And, you know, there isn't such a thing in Bitcoin.
	There are another code.
	There is another code.
	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 quote back door is onto the blockchain.
	It's 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.
	Mostly, I got them to investigate the software that the wallet makers were 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 my primary wallet.
	I've got others out there that store other coins.
	I've got a different wallet for cold storage or long-term hot storage, however they describe it these days.
	But again, it's all just checking out the various wallets.
	So there's no way that anybody looking at a blockchain can determine who owns what cryptos and so on.
	This is the problem for the IRS.
	So if you have a crypto and you have a wallet on your PC, that crypto is on the blockchain, is assigned ownership basically to a wallet address.
	And there's no identifying marks or identifying characteristics that would say that you own this instance of that wallet, which has in it this crypto.
	And 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 you could determine to some extent who is an owner 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 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 wallets 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 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.
	You know, it's digital and all of this kind of stuff, and that worries her.
	It doesn't help that you've got people like her friend 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, any of my machines, none of my machines have any back doors that would allow the software to, or anybody from the FBI or whoever to come in and access the stuff I've got on my machine surreptitiously, right?
	So that just can't happen.
	The problem is software can do a lot of things with Windows.
	I don't run Windows as my OS.
	So we're at a place where it's difficult.
	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 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 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 a distributed, decentralized payment system.
	It really irritates the 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 they're making their big push on it.
	I mean, these people are really fucking stupid.
	And their digital currency now, which we call the U.S. 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 U.S., 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 increasing level of inflation.
	Powell has signaled that he, as chairman of the Federal Reserve, that he's intent on saving the banking system.
	And that means he's going to sacrifice the dollar to save the banking system.
	So that means that, so they're going to be taking the same approach as Argentina.
	Argentina's got 100% inflation annually now and is running at 75% interest rates through the central bank.
	So it goes out to about 100 and some odd percent interest on mortgages.
	And that's barely, that's almost enough to allow their country to keep functioning.
	It's degrading.
	It's degrading rapidly.
	It's degrading because their money is tied to ours and ours is dying.
	And they don't have their wars.
	They don't have the giant global pandemic or the shutdown.
	They're going to have to do something.
	They're going to try and push climate, in my opinion, as the reason to lock down the whole planet and to save their power base, which is this fake debt-based currency.
	I don't think it's going to work.
	I think over these next few years, and it'll probably take a number of years, we're going to see the 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 undone, you know, removed, and will have treasury-issued non-debt-based money.
	But it'll take us some time to get there.
	So in 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 your assets tied up in U.S. dollars, and especially digital dollars.
	Cash would be better to some extent, as long as it lasts, but even it is having purchasing power degrade.
	And it's, you know, it's still completely under their control.
	It's not as bad as their upcoming new pay-now digital 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.
	Therefore, you don't get to have any 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.
	These people are fundamentally not humanists, right?
	They're not for humanity.
	They're for control.
	And they want to control everything and they want to control you.
	Their method of control is failing them.
	And they needed to replace it desperately.
	They needed a nuclear war, which we're going to have a threat of those, but I don't think we'll go into it.
	It's necessary that we have that level of tension, though, that we have that peak experience here relative to the Great Awakening.
	And over the next few years, we'll be getting into a replacement system for the central bank digital currency that we call the USA dollar.
	As I say, 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 relative dollar price now doesn't worry me a bit because I know it's the central bank reacting to people getting away from their control and currency and they're doing everything they can to fight it.
	This will continue.
	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 cryptos relative to U.S. dollar terms.
	I think we're within four months of that.
	I think we'll have a yeah, I think it'll come in probably, maybe it'll be five months.
	Maybe it'll be in by February.
	But it'll be relatively soon that we'll break loose.
	And this could also affect gold and silver.
	And at that point, the things are going to get really, really, really strange currency-wise and also in politics, because all politics is driven by the central bank's debt-based currency.
	And once it goes, all kinds of people are not going to have an income.
	All these people that relied on bribery, extortion, etc., which is all of the money that you cannot, that you don't report.
	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.
	Probably do another one of these tomorrow, maybe, picking up on some of the other aspects of the cryptos and the gold and silver.
	Anyway, we'll see.
	A lot of work here.
	Trying to get ready for basically the end of the world as we knew it because it's coming.
	And that's if you've lived all your life under fiat currency, when it crashes and dies, it's going to be a big change.
	Anyway, guys, stay woo.

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