All Episodes
Previous Next
March 16, 2022 - Health Ranger - Mike Adams
14:25
Crypto may CRASH, but you should still LEARN how to use it
| Copy link to current segment

Time Text
It's fair to consider this a crypto crash warning podcast.
But some people might find that strange because they would say, hey, wait a second.
Mike, last week, didn't you say that everybody should learn how to use crypto?
That everybody should open a crypto wallet and at least make one transaction and learn how it all works in case you're not familiar with it?
And the answer is yes, absolutely.
And both of these can be true.
So I want to clarify my position on crypto and also give you, well, an analysis of why a crypto crash or massive correction could be in the works.
In fact, I think it's inevitable.
But here's up front.
Yes, everybody needs to learn how to use crypto if you don't know how to use it already.
You need to have a wallet on your computer.
You need to sign up with an online exchange.
And even if you do this at a very small scale, you know, 50 bucks or something or 100 bucks, learn how to fund your online exchange.
Gemini.com is one.
KuCoin.com is another one.
There's several exchanges, lots of them.
Just learn how to use an exchange.
Learn how to use a wallet.
Learn how to send and receive Bitcoin.
I just need you to be familiar with the function of it.
And then realize that that might be...
I mean, you might lose everything that you put in it.
So that's why I'm saying just try this out with small numbers because you could seriously lose it.
And understand privacy coins, right?
Monero, I think, has emerged as the...
Sort of standard privacy coin.
Better than Zcash, which is one I'd mentioned earlier because Monero always operates in full privacy mode all the time.
Monero is very difficult, well, impossible mathematically for anybody to track.
And even I think the IRS has put out or the Treasury has put out a $600,000 reward for anybody who can crack Monero.
And I don't think anybody's collected on that reward because nobody's cracked it because cryptography is, well, when it's done right, it is fully secure.
You know, you would need a quantum computer or something to break it.
And that's not something that people have on their desktops.
So privacy coins, you need to understand what they are, how to use them.
And even understanding Bitcoin and Ethereum and so on.
Why?
Why am I saying this?
Because Biden's already pushing for a digital dollar.
And the globalists want to use, of course, the food scarcity, weaponization of the collapse of the supply chain in order to push people into a government run or central bank run digital currency ecosystem.
And that is a trap.
That is a mark of the beast surveillance and control grid system.
And they want everybody to go into that.
So you need to understand, in my opinion, alternatives to that.
There's going to be a parallel ecosystem of cryptocurrencies outside government control.
And those currencies will probably, very likely, include Monero and perhaps even Bitcoin as a legacy coin, but a lot of other, you know, better coins or better technology that doesn't have so much insane, like, power-hungry mining behind it, for example.
Now, if you're wondering, how do I think that cryptocurrencies could crash or have a major, major correction?
I do think that's coming.
I think that crypto has been in a bubble for quite a long time, and it's an irrational exuberance bubble, especially when you consider that almost all the coins are backed by nothing real.
Now, there are a few coins that claim to be backed by physical gold and silver.
And LOAD is one of those coins, and I think it's AGX for the silver token and AUX for the gold token, and it is backed by physical gold and silver, but it's very difficult to find LOAD on the exchanges.
And there's another one out there, I think it's called Paxos, that is a gold-backed crypto, but I don't know who's behind that.
I don't know these people.
Who knows, right?
So you're always taking the counterparty risk That when you buy a coin, even if it says it's backed by something, unless you really know for sure those people, then you have no way to know whether or not they're going to just grab everybody's wallet and run away to the Bahamas, which has happened before, like Mt.
Gox, right?
But there's another counterparty risk that a lot of people are not considering, and it's the fact that getting money in and out of these coins requires an on-ramp and an off-ramp That starts and ends with fiat currency.
You know, typically, I mean, you're going to transfer from your bank account into an exchange like Gemini, and then you're going to use the money in your exchange to buy the coins.
And then maybe you're going to trade the coins around, I don't know, sit on some and be a coin speculator, if that's what you're into.
That's not what I do, but some people do that.
And then eventually, you have this expectation that you're going to cash out.
Because the whole point of this is to I suppose, at least for the speculators, to gain some assets that you could trade for something real like land or a house or food or a car or something that actually matters because it doesn't help you to just have digital assets somewhere that can't be, let's say, transcoded, so to speak, into something real or translated.
So the off-ramp is what matters really most about these coins.
And the off-ramp is what the government regulators are going to attack.
And that's coming.
And there's going to be a day when the US government and other governments around the world are going to say, well, we hereby declare that it is illegal for anyone to sell Bitcoin or any other crypto in exchange for US dollars.
And we hereby declare that it is illegal for anyone to transfer fiat currency from exchanges, crypto exchanges like Gemini, or Coinbase for that matter, to bank accounts in banks that are regulated by the federal government.
So with the stroke of a pen, they can cut off the off-ramps and they can essentially blockade everybody's crypto wallets in the same way that they cut off Russia from the SWIFT system.
Now remember what I said several weeks ago, that whatever they do to Putin, they can do to you.
And they will.
And by the way, every technology that is created by a government is eventually turned against its own people.
Nuclear weapons, biological weapons, food scarcity, you know, monetary weapons, cyber hacking, everything.
Eventually they turn those weapons against the people.
And that's exactly what's going to happen with crypto.
I think crypto was created by basically the intelligence community.
And they're going to weaponize it in their own form and use it against you.
And one of the ways they can do that is by instantly cutting off the off-ramps.
So then, you know, you can log in or you can see your wallet on your computer.
Oh, gosh, I've got 10 Bitcoins.
That's worth, what is that, like $400,000 or something.
But is it worth anything if you can't get rid of it?
If you can't offload it or translate it into something real, like you can't transfer it back into a bank.
So then you have to decide, okay, how do I spend this Bitcoin?
Who accepts Bitcoin?
So right now you might think, well, there's plenty of merchants that accept Bitcoin, which includes my own store, healthrangerstore.com.
We accept Bitcoin.
But that acceptance is only based on the fact that we can still translate that into dollars by selling it Which means banks are still accepting funds from crypto exchanges.
If Biden or the Treasury, they come out and say that's illegal, then guess what?
A bunch of merchants that currently accept Bitcoin will stop accepting Bitcoin.
Lots of them.
They will say, well, gosh, you know, now we can't translate it back into dollars, so we're no longer accepting this.
So that's going to limit your ability to use crypto, you know, to get rid of it.
It's going to be very, very limited at that point.
And then you have to figure, well, what is this worth now?
You know, you can trade it for other coins.
You can trade it for Ethereum or you can trade it for, you know, Monero or whatever your favorite silly celebrity coin is.
You know, dogecoin, dogecoin, whatever.
But is it anything more than a virtual, like a game, like an online role-playing game at that point, if you can't translate it into something real?
So that's how crypto is going to be attacked, most likely.
And we can kind of see the early signs.
And then also, in addition to that, it is almost certain that the IRS is going to start chasing down people who use crypto And trying to find who they are, trying to find, did they gain anything?
And then start sending people warning letters like, you have to disclose all your crypto gains and now you have to pay penalties and you have to pay compounding interest because you didn't file your crypto gains in 2018.
And now you owe us, you know, $50,000 and they're going to send out these letters everywhere across the country.
The IRS just got major new funding in the omnibus bill, by the way, because the IRS has been vastly underfunded and they don't really have enough people.
It's been kind of a nightmare for them to get anything done, which is why they're behind on opening their mail by about two years right now.
So with more money going to the IRS, they're going to crank up the crypto enforcement branch, whatever that looks like, and they're going to come after all the crypto people.
And they're going to use the blockchain to do that because the blockchain is a public record.
It's a public ledger that shows all your transactions.
And since they already have your identity because of your You know, your exchange, like Gemini.com, your account there, they have your name, your social security number, everything.
Or Coinbase is the same situation.
Which is why KuCoin is popular because you don't have to enter KYC information to use KuCoin.
That's a different topic.
Most people have entered their name, which means all the transactions they've made are tied to their name.
And so the IRS is just going to run basically analysis software that looks at the blockchain and says, oh, you didn't report these gains.
You're going to be penalized and you owe us all this money now.
So those are two ways that the government's going to go after crypto, which is, again, blocking the off-ramp capabilities.
And then secondly, going after people for tax violations.
And the net result of this is that a lot of crypto could drastically lose value.
It could go down 90%, no question about it.
It could go down 95% or even 99 in some cases.
Now you might say, well, but crypto has a really strong future because people are not going to want to use the central bank system.
They're going to want to use a parallel economy that's got more privacy.
And I completely agree with that.
I think crypto has a very strong future.
I think it's going to coexist.
Personally, I would rather use crypto than any kind of a digital dollar mark of the beast system because that's kind of like surrendering to Satan.
In fact, I don't think I'm ever going to use a digital dollar system.
Unless they force me to use it and pay taxes or something.
But I don't plan to use it at all.
I would much rather conduct business in XRP or something.
So we'll see where this goes.
But don't expect crypto to keep going up and up and up.
It could really crater.
But that doesn't mean that The technology should be abandoned.
In fact, the technology should be embraced.
And I think everybody should learn how to use it.
And I think everybody should know how to move assets using crypto, because I think that's going to be a really critical skill from here forward.
So those are my thoughts on crypto.
I just understand it's very risky.
You could lose everything.
But then again, people are going to lose everything in the dollar.
The dollar's going to zero, folks.
So anybody that tells you, oh, don't learn crypto because it could go to zero, you tell them, well, how about your savings account in dollars?
That's going to go to zero, no question about it.
You have a total counterparty risk that you haven't even acknowledged for people who hold dollars and don't realize there's risk there.
Dollar's going to zero.
We just don't know when.
Okay.
So that's my take on things.
I welcome your comments beneath the video.
And of course, follow my channel on brighteon.com.
And, you know, do your research.
Be smart about this.
Be very, very cautious.
The name of the game right now is risk aversion and not losing your principle if you can hold on to it.
Thanks for listening.
I'm Mike Adams of HealthRanger.
Take care.
A global reset is coming.
And that's why I've recorded a new nine-hour audiobook.
It's called The Global Reset Survival Guide.
You can download it for free by subscribing to the naturalnews.com email newsletter, which is also free.
I'll describe how the monetary system fails.
I also cover emergency medicine and first aid and what to buy to help you avoid infections.
So download this guide.
It's free.
▲
Export Selection