July 12, 2023 - Health Ranger - Mike Adams
18:43
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| What is honest money? | |
| Because we're all participating in monetary systems, and the number one system, the most popular system, the dollar fiat currency system, is a rigged system. | |
| It's a dishonest system. | |
| You trade your time, your energy, your labor, your ideas for dollars, and then some other people, the banksters, they just print dollars that have the same value as the dollars that you earned. | |
| That you actually put forth effort or time, money, cost, whatever, to acquire. | |
| They just print them. | |
| And as long as the central banks can print dollars, dollars are not honest money, obviously. | |
| And as long as they can print, they will. | |
| They will never stop printing because, well, it's like printing money. | |
| It's free money for them. | |
| But it's a tax on you and everyone else who's actually earned dollars the hard way. | |
| So what is honest money? | |
| Now, of course, gold and silver are honest money in the sense that they can't be counterfeited, right? | |
| No one can create gold out of nothing or even gold out of lead or anything like that. | |
| Gold can be mined, obviously, and it is mined, so there is a slowly increasing supply of gold, and the same is true with silver, but it's not an unlimited supply, and it's very hard to get. | |
| It's very costly to get. | |
| And so again, no one can just acquire a massive amount of gold easily and suddenly, unless a golden meteor falls out of the sky or something, but that's not likely to happen. | |
| So yes, gold is honest money. | |
| And when gold backed dollars, then dollars were, in a way, a lot more honest in terms of money because, of course, they could be redeemed for gold or silver. | |
| Essentially, the two metals are interchangeable with sufficiently liquid markets. | |
| What about cryptocurrency? | |
| Is cryptocurrency in the category of honest money or dishonest money? | |
| Now, you might at first think that cryptocurrency is dishonest money because of all the shenanigans surrounding FTX. Well, I've come to realize, and I didn't always see it this way, but I've come to realize that cryptocurrency is actually honest money. | |
| Not every crypto, obviously. | |
| There are a bunch of crap coins, and there are a number of scams, and FTX was one of them, and there are a lot more. | |
| But let's just talk about Bitcoin as an example here. | |
| Bitcoin has an honest ledger. | |
| No one can counterfeit Bitcoin. | |
| Or if they try to, they'll be voted off the system by the other miners. | |
| And the way the blockchain works is that no one can get away with counterfeiting coins. | |
| They'll vanish from your wallet because of the integrity of the system, which is distributed integrity. | |
| It is a trustless system. | |
| You don't have to trust any one person or even a group of people. | |
| All you have to do is trust in math, essentially. | |
| Trust that algorithms execute. | |
| And Bitcoin works. | |
| And Bitcoin has a limited supply of, I think, 21 million coins, most of which have already been created, by the way. | |
| Now, this is something that makes Bitcoin and other cryptocurrency projects incredibly unique. | |
| And by the way, Monero has limited emissions off of each blockchain. | |
| I think it's 0.6 coins at the moment or something like that. | |
| Even though technically there's no hard limit on the number of coins, there is a time limit. | |
| So there's only a certain number of coins that are emitted over time, and frankly, it's not that many. | |
| Very small number. | |
| So with these cryptocurrency projects, their blockchains are honest. | |
| There's no counterfeiting possible. | |
| Believe me, lots of people have tried. | |
| And if you think about it, if Bitcoin were able to be easily counterfeited, then Bitcoin would have no value. | |
| Because whoever could counterfeit them would just create billions of new coins and sell them into the market. | |
| And that's not happening, and it's unlikely to ever happen, by the way. | |
| So Bitcoin's an honest ledger. | |
| And what that means is that no government can print Bitcoin and then game the system for their own benefit. | |
| And what Bitcoin and cryptocurrency are demonstrating is that we have a choice. | |
| We can get out of the rigged system. | |
| Which is the dollar system, the central bank system, the money printing system. | |
| We can get out of that system where powerful elites are stealing. | |
| They're stealing our productivity with a hidden tax of dollar devaluation. | |
| We can get out of that system and into an honest system. | |
| That system is frankly cryptocurrency, but I also say gold and silver. | |
| It's just that gold and silver are much more difficult to send through the internet. | |
| Or to slice and dice up into a million pieces and use little portions of them like sats. | |
| So cryptocurrency, I did not used to see it as something that had intrinsic value, and now I do. | |
| I see the intrinsic value in its utility, and I see the honesty of the system as one of the traits that has intrinsic value. | |
| And by the way, it doesn't mean that everybody who's involved in Bitcoin is themselves honest. | |
| The beauty of the system is that all kinds of scoundrels could be present in the Bitcoin ecosystem, and no doubt some are, and yet even the scoundrels can't rig the system. | |
| In other words, the structure of Bitcoin itself, through the cryptography and the mining operations and the blockchain structure, the unspent transaction outputs, all this stuff, the structure of Bitcoin is itself sort of Scoundrel-proof, which is exactly as intended, because we shouldn't have to trust a person in order to use Bitcoin. | |
| We only have to trust the algorithms, trust the math, trust the cause and effect. | |
| Again, and that's as it should be, because we don't want to be in a trust-required system, which is what traditional finance is. | |
| You have to trust the bank, you have to trust the treasury, you have to trust the government, you have to trust whatever, the pension fund. | |
| With Bitcoin, you don't have to trust anybody because you have possession of the Bitcoin. | |
| The same thing is true with the privacy coins and all the other crypto that we talk about. | |
| You have possession, so you have control. | |
| No one can take it from you unless they put a gun to your head, and that's coercion. | |
| They can't do that to everybody. | |
| I mean, they could try to threaten a few people and see how far they get, but that would just cause other people to hide their wallets better, frankly. | |
| I mean, nobody can really take Bitcoin from you. | |
| Now, Bitcoin is easily traceable. | |
| Don't get me wrong, it is a very transparent blockchain. | |
| It's not a privacy coin, so there are other solutions that cover that, like Monero and many other privacy coins that we're going to be covering on our new show, Decentralize TV. If you want to check out that website, it's decentralized.tv, and there you can see the episodes where we're interviewing these amazing people about these amazing projects. | |
| Many of them focus on privacy. | |
| All of them focus on decentralization in one way or another. | |
| So Bitcoin doesn't have that kind of privacy, but Bitcoin has other forms of utility. | |
| And Bitcoin is the number one cryptocurrency that currently exists. | |
| And years ago, I thought Bitcoin was a joke. | |
| I thought it was going nowhere. | |
| I thought it would be outlawed before it could really mature. | |
| And I thought that people were full of bunk when they kept saying it's going to go to a million dollars a coin and it was just this endless parade of FOMO and speculation without really much talk of utility. | |
| And frankly, all that talk kind of turned me off. | |
| You know, I'm not attracted to, you know, the younger people. | |
| Oh boy, oh boy, it's gonna go to the moon! | |
| You gotta get on board! | |
| You're like, oh really? | |
| This is your financial show? | |
| That was not persuasive to a person like me. | |
| But then after the FTX collapse, this is kind of when the miracle happened. | |
| After FTX, and we saw a lot of crypto burn down by about 90%, especially a lot of altcoins and even some privacy coins. | |
| And there was a, you could call it a forest fire that kind of swept through the crypto space. | |
| And it burned through a lot of excess leverage that certainly existed in there, partially thanks to FTX. And because it burned through all that, then what was left behind ended up being a lot more utility-focused. | |
| Instead of just pure speculation, like, buy low, sell high, you know. | |
| Gotta get a Lambo! | |
| No, now it becomes something far more serious and mature and frankly more sustainable, which is how do we use these coins? | |
| What are we doing with them? | |
| How do we buy and sell? | |
| Is there a store of value? | |
| How do we, let's say, make payments to people who are overseas without going through the swift banking system or being subject to the punitive financial sanctions of the United States? | |
| Which throws around sanctions like popcorn or something. | |
| So all these questions have now come to the forefront of this. | |
| It's like, how do we apply these technologies? | |
| And so we've launched on our platform, Brighteon.com, you know, we've launched a crypto tipping system where viewers or fans can tip channels By simply sending them Monero or Epic Cash, we have activated there as well. | |
| And we're going to bring in some other cryptocurrencies, especially privacy coins, so that people can tip each other. | |
| We're expanding the number of coins that we will accept in our online stores. | |
| So very soon you'll be able to purchase products at healthrangerstore.com and you'll be able to use various crypto coins in order to make those purchases. | |
| And we used to have a tool that allowed you to do that, but that got banned by one of the platforms that we were using at the time. | |
| So we actually have to write some code and bring back a new system and do a new implementation. | |
| So that's coming back. | |
| But this is the real question now. | |
| What is the utility of cryptocurrency? | |
| And it's the utility that gives it intrinsic value, and it's the intrinsic value combined with the trustless structure that makes it Honest money, you know, plus the limited supply. | |
| It's honest money because no one can fake it. | |
| No one can print it. | |
| No one can come in and just change the rules. | |
| It's honest money precisely because it can't be overruled by governments and central banks, as can all the fiat currencies, the dollar, the euro, the yen, you know, whatever. | |
| So, We're all going to have to make a choice here in the near future about what kind of financial system you want to really be part of. | |
| We're going to see a chasm in the future of finance. | |
| Some people are going to go with the rigged system, the dishonest ledger. | |
| That's the fiat currency system, controlled and manipulated by governments. | |
| And if you exist in that system, you will die impoverished because they will take everything from you in terms of purchasing power. | |
| They will take it all. | |
| They will print until they can print no more. | |
| They will print to the day of collapse. | |
| And nothing will stop them from printing more dollars. | |
| So if you play in that space of fiat currency, you are essentially on a dollar suicide mission. | |
| You're basically saying that you hate money, even your own, and that you want to see it destroyed little by little, but accelerating over time. | |
| So if you keep your money in a bank, in dollars, you signed up for that system and that outcome. | |
| On the other hand, there's a different system, which is now the cryptocurrency system, and there's also gold and silver, which I talk about from time to time, but today we're talking about the crypto system. | |
| In the crypto system, again, since nobody can print more money, nobody can erode the inherent value of the coins that you already own. | |
| And thus, it seems to me that honest money is going to last a lot longer than dishonest money. | |
| Honest money being, again, the decentralized ledger, the honest ledger, the trustless ledger, which is Bitcoin, another cryptocurrency. | |
| And if you protect your assets and wealth in that system, then I believe that you will have assets long after the Western banking system collapses. | |
| The day that the banks close, Bitcoin will still work. | |
| Although, even Bitcoin might be overloaded by so many people trying to buy it, come to think of it, who knows? | |
| Yeah, there's going to be a big wake-up call, but when the banks have a giant bail-in and a bank freeze and they won't let you get your money out, Bitcoin still works. | |
| Bitcoin still works. | |
| When the dollar is abandoned by the United States government and replaced with something else, the next scam. | |
| When that day comes, there will be economic chaos across the country. | |
| People will lose 90 plus percent of the money they thought they had because the dollar will become virtually worthless overnight. | |
| But on that day, Bitcoin will still work. | |
| And so will other cryptocurrency projects such as Monero, for example. | |
| They will all still function. | |
| Now what will their value be? | |
| I don't know. | |
| Nobody knows. | |
| Hard to tell. | |
| But they will still function. | |
| And is there intrinsic value in them functioning when the banks do not function? | |
| Yes. | |
| The answer is yes. | |
| There's intrinsic value there. | |
| But you can send payments and money to anybody anywhere in the world in a matter of just a few minutes. | |
| It's borderless. | |
| You don't need permission. | |
| You don't need to pass security checks. | |
| You don't need to know your customer rules in order to send Bitcoin to somebody. | |
| Does Bitcoin have intrinsic value in a world where fiat currencies are collapsing? | |
| You bet it does. | |
| People will be screaming trying to get into Bitcoin. | |
| Trying to get into, not just Bitcoin, I mean, even privacy coins, I think, will be more popular. | |
| Because, well, then you have privacy. | |
| No one knows how much you have in your wallet. | |
| No one knows how you're spending it or what you're doing with it. | |
| And that has value, too, above and beyond Bitcoin. | |
| Privacy coins. | |
| So when I said the other day that I'm moving my assets out of the fiat currency banking system and into three things, gold, silver, and crypto, it's pretty easy to see those are all honest money systems. | |
| And that's why I believe they will hold value far more than of course dollars or anything coming out of the central banks. | |
| Central banks are a joke. | |
| Fiat currency is a joke. | |
| And those left holding it will be left with nothing when this is all said and done. | |
| Nothing. | |
| So that's where this is going. | |
| Now, does it mean that every cryptocurrency project is going to succeed? | |
| Absolutely not. | |
| Some of them are scams. | |
| Some of them are rug pulls. | |
| Be very careful whose advice you follow. | |
| There are operators out there that are running rug pull operations, i.e. | |
| pump and dump schemes, And they might run a newsletter, and they say, sign up for the newsletter. | |
| We'll tell you which coins to buy. | |
| And then they push a big coin that they already had previously bought, and they sell off as the price goes higher. | |
| They have these sell walls in place, and they're basically milking their own customers in a very dishonest, low-integrity fashion. | |
| That goes on out there, so beware of that. | |
| And could Bitcoin go to zero one day? | |
| I used to think it was a possibility. | |
| Now I don't. | |
| Now that I understand it more, I don't think that's possible at all. | |
| Unless we have a Mad Max collapse of the power grid, and we lose all telecommunications, and we lose all access to the internet, and in those cases, we're going to have a collapse of society as a whole. | |
| We're going to have much bigger issues than just Bitcoin. | |
| You're going to need ammo and a ballistic bulletproof vest for that kind of scenario. | |
| So barring that, I think Bitcoin will hold value better than the dollar. | |
| And I also think, and by the way, I hardly even have any Bitcoin, just to be clear. | |
| I have less than one Bitcoin total. | |
| At this point, it might only be like.1 Bitcoin or something. | |
| It's only a couple thousand dollars worth of Bitcoin. | |
| So I'm not here shilling Bitcoin because I hold a bunch of Bitcoin. | |
| Believe me. | |
| Even if I did, anybody can see it. | |
| So you can tell I don't. | |
| But I think Bitcoin will be here after the dollar collapses. | |
| I think Bitcoin will exist after the U.S. government collapses. | |
| After the Treasury collapses. | |
| And there'll be a bunch of other cryptocurrencies that are also continuing to exist in that scenario. | |
| And a lot of people will depend on them For trade and for payments, business operations, acquiring inventory, paying salary, you know, and much more. | |
| So do your homework on all this. | |
| Get up to speed. | |
| Watch my new show. | |
| We do some pretty amazing interviews there. | |
| And that show is at decentralized.tv. | |
| And I think you'll really enjoy those shows. | |
| Check them out. | |
| And thank you for listening today. | |
| I'm Mike Adams, the Health Ranger, the founder of Brighteon.com and the publisher of NaturalNews.com. | |
| Take care. | |
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| And that's why I've recorded a new nine-hour audiobook. | |
| It's called The Global Reset Survival Guide. | |
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| I'll describe how the monetary system fails. | |
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