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
00:00:11
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
00:00:23
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
00:00:32
party which is amazing but just it tells
00:00:35
you the tentacles of
00:00:37
corruption wrong they they're deep in
00:00:40
this recent interview on the dot Krueger
00:00:42
YouTube channel with Fred Krueger we
00:00:44
explore bitcoin's potential to combat
00:00:46
corruption the problems with altcoins
00:00:48
and the importance of a universal
00:00:49
monetary standard at the time of this
00:00:52
discussion Bitcoin is trading around
00:00:54
$95,000 with a 3% decrease in the last
00:00:57
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
00:01:11
uh Bitcoin and Corruption and I think I
00:01:14
really tried to pick the word corruption
00:01:16
because I think that's that's really the
00:01:18
the essence of what we're talking about
00:01:21
right and I think we really saw a lot of
00:01:25
that a couple years ago right we saw in
00:01:28
particular Sam bankman
00:01:30
freed um basically you
00:01:34
know paying the
00:01:38
Democrats Democratic party tens of
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millions of dollars in
00:01:43
donations to get a meeting with Gary
00:01:46
gendler to kind of get the Monopoly on
00:01:49
on crypto assets right and this was just
00:01:52
you know it's it's it's
00:01:55
really it's it's it's disheartening uh
00:01:58
for us that
00:02:00
basically the world is still a very much
00:02:02
of a pay-to-play place uh we we saw it
00:02:05
also with Elizabeth Warren you know who
00:02:08
started her career by making this attack
00:02:12
on Banks and then she switched to
00:02:13
becoming a bank
00:02:15
lover and the banking industry just
00:02:18
donated millions of dollars to her uh
00:02:22
campaign so that they would crack down
00:02:24
on crypto and she became the basically
00:02:27
the leader in the anti- crypto Army as
00:02:30
she called it uh that fortunately is
00:02:34
being dismantled as we speak but also
00:02:37
you know there's just all these Fiat
00:02:38
lend uh leaders that that have been
00:02:41
using the power of the printing press to
00:02:44
just uh buy more votes uh they don't
00:02:47
really care if the money devalues they
00:02:49
just they don't care it benefits them
00:02:53
and their political Futures if we can
00:02:56
have uh if they can print more money and
00:02:59
they they love doing that so so that's
00:03:02
kind of what we're up against with
00:03:04
Bitcoin and Bitcoin is sort of the exact
00:03:06
opposite it's Incorruptible money it is
00:03:10
something that's completely fairly
00:03:12
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
00:03:22
live in a world where like in in the
00:03:27
um the novel uh house by
00:03:31
G uh by the way fantastic book um you
00:03:36
know the ultimate sort of German uh
00:03:39
writer uh and uh in G in g f the emperor
00:03:45
is tempted by the
00:03:47
devil um because he's got all these
00:03:49
economic problems and the devil is
00:03:51
saying disguise is a Fool by the way
00:03:54
he's just he's telling the de you should
00:03:56
print use paper money and then uh
00:04:00
the emperor is tempted and agrees so do
00:04:04
we want that world we want a world where
00:04:06
we're just kind
00:04:07
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
00:04:16
we want a world where we have clean Fair
00:04:19
money that anybody can send to anybody
00:04:22
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
00:04:48
better um and and that these kind of
00:04:52
quick economic fixes that you know uh me
00:04:56
mophos
00:04:58
Le uh with
00:05:00
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
00:05:33
nobody is doing
00:05:35
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
00:05:52
just the case uh you know I'm not going
00:05:56
to be around 30 years from now uh uh I
00:05:59
might there may be a chance I'm around
00:06:02
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
00:06:30
is it's not about the money um so the
00:06:34
money is going to and so our our
00:06:36
whatever we have is going to get
00:06:37
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
00:06:52
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
00:07:08
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
00:07:35
kind of print
00:07:36
more um ethereum where they could change
00:07:39
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
00:07:50
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
00:10:19
discussion Please Subscribe like and
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