The Corruption That's Happening Is Deeper Than You Know | Fred Kreuger

00:11:32
https://www.youtube.com/watch?v=0PW7VUp52qo

Sintesi

TLDRIn a conversation on the Dot Krueger YouTube channel, Fred Krueger discusses the potential for Bitcoin to address issues of corruption inherent in the crypto and fiat systems. The discussion highlights how many altcoins are launched with a significant portion of their supply self-allocated for promotional purposes, creating opportunities for corruption. The narrative points to historical examples of political figures engaging in questionable practices, such as receiving monetary contributions in exchange for favorable treatment. Bitcoin, viewed as 'incorruptible' money, is seen as a universal, fair financial standard that could reduce the prevalence of unethical behavior in financial systems. The conversation also criticizes the fiat system's temporary economic solutions and the corruptible nature of altcoins, drawing parallels to the challenges faced in medieval currency systems. Fred Krueger advocates for a shift to a simpler, universal currency system founded on Bitcoin, aiming to create a less corrupt global financial landscape.

Punti di forza

  • 🚀 Bitcoin is seen as a tool to combat financial corruption.
  • 💰 New coin launches often involve self-serving allocations, sparking corruption concerns.
  • ⚖️ Bitcoin offers a fair and incorruptible financial alternative.
  • 📝 Political figures are accused of using donations for favorable treatment.
  • 🔄 Altcoins replicate fiat system issues by rewriting rules and practices.
  • 📈 Fiat systems provide temporary economic fixes, akin to quick drugs.
  • 🌍 A universal Bitcoin standard could replace complex currency systems.
  • 🔗 Fairly launched, Bitcoin contrasts with ethically dubious altcoins.
  • 💡 Fred Krueger argues for a Bitcoin-based, less corrupt financial future.
  • 📜 Historical currency complexities illustrate the need for a universal standard.

Linea temporale

  • 00:00:00 - 00:05:00

    The video opens by discussing the launch of new altcoins on platforms like the Base chain, emphasizing the issues of creators acquiring a large portion of coins for free and investing in promotions. It highlights a recent interview with Fred Krueger on the potential of Bitcoin to combat corruption, contrasting it with the perceived corrupt nature of altcoins. The video references prominent figures such as Sam Bankman-Fried donating to political parties for influence. Bitcoin's ethical launch is heralded against fiat's pay-to-play system, proposing Bitcoin as incorruptible money.

  • 00:05:00 - 00:11:32

    Fred Krueger expands on Bitcoin's incorruptibility compared to altcoins and fiat money, criticizing altcoins like Ethereum for replicating fiat system issues in cryptocurrency. He advocates for a universal financial standard with Bitcoin, distancing from numerous competing currencies. Krueger expresses a vision for a future less corrupt world enabled by Bitcoin's design, suggesting it as a solution for global financial inequalities. The video's conclusion promotes considering Bitcoin's potential in eliminating financial corruption while dismissing the need for altcoins.

Mappa mentale

Video Domande e Risposte

  • What is the main topic of Fred Krueger's interview?

    The interview discusses Bitcoin's potential to combat corruption and the problems with altcoins.

  • Why are new coins considered corrupt, according to the video?

    New coins often allocate half of their supply to themselves and spend heavily on advertising and promotions, indicating corruption.

  • What historical accusations are made against politicians in the video?

    Politicians like Sam Bankman-Fried and Elizabeth Warren have been accused of corruption through donations or policy shifts.

  • How does Bitcoin differ from altcoins in terms of fairness?

    Bitcoin is considered incorruptible and fairly launched, unlike some altcoins seen as corrupt.

  • What analogy is used to describe fiat money?

    Fiat money is likened to a quick fix or drug that temporarily boosts the economy.

  • What future does Fred Krueger envision with Bitcoin?

    He envisions a world with a universal, fair monetary system based on Bitcoin, reducing corruption.

  • Why are altcoins considered corrupt?

    Altcoins are likened to recreating the evils of the fiat system, with unethical practices such as rule changes and system forks.

  • What is Fred Krueger's stance on the Federal Reserve and altcoins?

    He believes neither the Federal Reserve, money printing, nor altcoins are needed for a fair economic system.

  • What historical example is used to emphasize the need for a universal currency?

    Medieval Germany's use of multiple currencies is used as an example of the complications that arise without a universal monetary system.

  • What is the video's view on Bitcoin's impact on global corruption?

    The video suggests that Bitcoin's adoption could significantly reduce global corruption.

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Scorrimento automatico:
  • 00:00:00
    people launching coins like uh there's
  • 00:00:04
    something called Brett now on the base
  • 00:00:06
    chain these these coins they launch a
  • 00:00:09
    coin they get half the supply for
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    absolutely no for nothing they just give
  • 00:00:13
    themselves half the supply or
  • 00:00:15
    more and then they are spending all this
  • 00:00:20
    money on advertising and promotion and
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    getting you know services like altcoin
  • 00:00:26
    daily to promote these things and they
  • 00:00:29
    were promoting right at Michael sailor's
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    party which is amazing but just it tells
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    you the tentacles of
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    corruption wrong they they're deep in
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    this recent interview on the dot Krueger
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    YouTube channel with Fred Krueger we
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    explore bitcoin's potential to combat
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    corruption the problems with altcoins
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    and the importance of a universal
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    monetary standard at the time of this
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    discussion Bitcoin is trading around
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    $95,000 with a 3% decrease in the last
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    24 hours and a 3% decrease in the last
  • 00:01:00
    30 days before we explore this
  • 00:01:02
    discussion don't forget to like
  • 00:01:03
    subscribe and share this channel now
  • 00:01:05
    let's hear more from Fred Krueger let's
  • 00:01:07
    talk about this episode which is about
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    uh Bitcoin and Corruption and I think I
  • 00:01:14
    really tried to pick the word corruption
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    because I think that's that's really the
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    the essence of what we're talking about
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    right and I think we really saw a lot of
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    that a couple years ago right we saw in
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    particular Sam bankman
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    freed um basically you
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    know paying the
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    Democrats Democratic party tens of
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    millions of dollars in
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    donations to get a meeting with Gary
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    gendler to kind of get the Monopoly on
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    on crypto assets right and this was just
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    you know it's it's it's
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    really it's it's it's disheartening uh
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    for us that
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    basically the world is still a very much
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    of a pay-to-play place uh we we saw it
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    also with Elizabeth Warren you know who
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    started her career by making this attack
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    on Banks and then she switched to
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    becoming a bank
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    lover and the banking industry just
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    donated millions of dollars to her uh
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    campaign so that they would crack down
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    on crypto and she became the basically
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    the leader in the anti- crypto Army as
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    she called it uh that fortunately is
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    being dismantled as we speak but also
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    you know there's just all these Fiat
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    lend uh leaders that that have been
  • 00:02:41
    using the power of the printing press to
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    just uh buy more votes uh they don't
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    really care if the money devalues they
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    just they don't care it benefits them
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    and their political Futures if we can
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    have uh if they can print more money and
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    they they love doing that so so that's
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    kind of what we're up against with
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    Bitcoin and Bitcoin is sort of the exact
  • 00:03:06
    opposite it's Incorruptible money it is
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    something that's completely fairly
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    launched and um so at the end of the day
  • 00:03:15
    it's really an ethical
  • 00:03:17
    question uh so what kind of world do you
  • 00:03:20
    really want to live in do you want to
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    live in a world where like in in the
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    um the novel uh house by
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    G uh by the way fantastic book um you
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    know the ultimate sort of German uh
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    writer uh and uh in G in g f the emperor
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    is tempted by the
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    devil um because he's got all these
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    economic problems and the devil is
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    saying disguise is a Fool by the way
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    he's just he's telling the de you should
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    print use paper money and then uh
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    the emperor is tempted and agrees so do
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    we want that world we want a world where
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    we're just kind
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    of getting quick fixes like a heroin
  • 00:04:10
    junkie uh by printing more money to
  • 00:04:13
    produce temporary economic booms or do
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    we want a world where we have clean Fair
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    money that anybody can send to anybody
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    else and that can never be debased as we
  • 00:04:24
    just heard Fred Krueger explain
  • 00:04:25
    bitcoin's role as Incorruptible money
  • 00:04:28
    let's explore how altcoins contrib rute
  • 00:04:29
    to corruption why Fiat money exacerbates
  • 00:04:32
    global inequality and the critical need
  • 00:04:34
    for a universal Financial standard now
  • 00:04:36
    let's listen to what Fred Krueger has to
  • 00:04:38
    say yeah I I think most of us bitcoiners
  • 00:04:41
    have have come to the realization that
  • 00:04:44
    if we could possibly have such Fair
  • 00:04:46
    clean money it would be
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    better um and and that these kind of
  • 00:04:52
    quick economic fixes that you know uh me
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    mophos
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    Le uh with
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    you know pushing to the emperor they're
  • 00:05:03
    they're really like a drug Pusher
  • 00:05:04
    pushing some you know crack cocaine to
  • 00:05:08
    an addict we we don't need that and we
  • 00:05:10
    don't want that we want a system that's
  • 00:05:12
    that's fair and that's not rigged uh uh
  • 00:05:18
    so that uh everybody loses now
  • 00:05:23
    uh a lot of people will say the only
  • 00:05:25
    reason you say that for is because you
  • 00:05:26
    got your bags of Bitcoin and and you're
  • 00:05:30
    going to benefit of course you know
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    nobody is doing
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    this necessarily out of completely
  • 00:05:37
    altruistic reasons we're also in it for
  • 00:05:40
    the
  • 00:05:41
    money but at the end of the day we're
  • 00:05:44
    all going to die and and some of us are
  • 00:05:47
    going to go spend whatever money we get
  • 00:05:49
    on stupid stuff like Lambos uh that's
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    just the case uh you know I'm not going
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    to be around 30 years from now uh uh I
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    might there may be a chance I'm around
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    30 but I'm certainly not going to be
  • 00:06:03
    around 40 years from now right um that
  • 00:06:06
    would be a miracle if I if I put last so
  • 00:06:10
    somewhere in the next 30 Years I'm I'm
  • 00:06:12
    gone and the question is you know and
  • 00:06:15
    Michael sailor's gone you know like you
  • 00:06:18
    know and and both Michael sailor and I
  • 00:06:20
    have enough money for this particular
  • 00:06:23
    Lifetime right now we don't need Bitcoin
  • 00:06:25
    to go up to do this right you
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    is it's not about the money um so the
  • 00:06:34
    money is going to and so our our
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    whatever we have is going to get
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    dissipated in the sands of time it
  • 00:06:39
    doesn't matter but this next
  • 00:06:44
    Generation they can have a world with a
  • 00:06:47
    a fair monetary
  • 00:06:50
    basis and that's a better that's a
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    better world and it's a world where it
  • 00:06:54
    is not as easily corruptible now
  • 00:06:59
    this is sort of the gist of my tweet I
  • 00:07:01
    just want to add a few little things to
  • 00:07:03
    it the first is about altcoins and I
  • 00:07:06
    think they're very very corrupt right
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    and I was sitting next to toer uh Strite
  • 00:07:12
    in the bus at this event and toer was we
  • 00:07:17
    were talking about eth and he said you
  • 00:07:18
    know Fred it's really like in just three
  • 00:07:22
    years they managed to recreate all the
  • 00:07:25
    evils of the Fiat system in
  • 00:07:29
    cryptocurrency like it's kind of created
  • 00:07:32
    this pyramid like thing where they could
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    kind of print
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    more um ethereum where they could change
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    the rules where they could uh Fork it
  • 00:07:43
    because somebody hacked their system
  • 00:07:46
    every single thing they did was
  • 00:07:49
    ethically
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    Incorrect and uh and so they managed to
  • 00:07:55
    recreate Fiat
  • 00:07:57
    now and so you know we don't need that
  • 00:08:01
    kind of
  • 00:08:02
    corruption in our Bitcoin world uh you
  • 00:08:06
    know uh so I
  • 00:08:10
    think we don't need Fiat we don't need
  • 00:08:14
    money printing we don't need the Federal
  • 00:08:16
    Reserve and we also don't need the
  • 00:08:19
    latest meme coins or altcoins none of
  • 00:08:22
    those things are needed or wanted we
  • 00:08:26
    just want Bitcoin uh we want a way you
  • 00:08:29
    know there there's potentially a few
  • 00:08:31
    things we want with Bitcoin we might
  • 00:08:33
    want to borrow against Bitcoin we might
  • 00:08:34
    want to have more efficient ways to send
  • 00:08:37
    payments in Bitcoin uh but at the end of
  • 00:08:40
    the day what we we want a currency which
  • 00:08:42
    is Bitcoin that that's what we want uh
  • 00:08:45
    we don't we don't want to go back to a
  • 00:08:48
    world where there's you know hundreds or
  • 00:08:51
    thousands of currencies like there were
  • 00:08:53
    in uh you know medieval uh Germany right
  • 00:08:58
    there there was like hundreds of
  • 00:09:00
    currencies to transact between even
  • 00:09:02
    different parts of Germany they had all
  • 00:09:04
    these different currencies um and you
  • 00:09:06
    had sort of shops with abacuses that
  • 00:09:09
    people use to figure out the exchange
  • 00:09:11
    rate for bringing something in from say
  • 00:09:15
    anver in uh in uh in Belgium you know to
  • 00:09:21
    bring it in to uh to somewhere like
  • 00:09:26
    Hamburg you had to go through 10
  • 00:09:28
    currencies and you to figure out some
  • 00:09:29
    kind of exchange rate uh we don't want
  • 00:09:33
    that kind of situation either we want a
  • 00:09:35
    universal uh
  • 00:09:37
    Universal standard of value and I think
  • 00:09:40
    we found that and I think that standard
  • 00:09:42
    of value is going to be Bitcoin whether
  • 00:09:44
    you like it or not that that's where it
  • 00:09:47
    is and so I think the game theory of
  • 00:09:50
    Bitcoin is going to make the
  • 00:09:52
    world a little less corrupt or a lot
  • 00:09:55
    less
  • 00:09:56
    corrupt and uh I just I I think that's
  • 00:09:59
    really the key word here is
  • 00:10:01
    corruption we need to make the world a
  • 00:10:04
    less corrupt place to watch the full
  • 00:10:06
    interview check out the link in the
  • 00:10:07
    description we would love to hear your
  • 00:10:09
    thoughts on some questions do you think
  • 00:10:11
    Bitcoin can eliminate corruption in
  • 00:10:12
    finance what are your views on altcoins
  • 00:10:15
    compared to bitcoin thank you for tuning
  • 00:10:17
    in to Only The Savvy if you enjoyed this
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Tag
  • Bitcoin
  • corruption
  • fiat money
  • altcoins
  • universal currency
  • Fred Krueger
  • financial system
  • crypto corruption
  • incorruptible money
  • political corruption