He made this denouncement during a Sept. 7 appearance on the "Crypto Coin Show" hosted by Ashton Addison, which also aired as an episode of the "Health Ranger Report." Adams, a fan of privacy cryptocurrency, blasted the fiat currency banking system as a dishonest and rigged ledger where people will never get ahead.
"We've seen a lot of viewpoint discrimination in the banking industry," he told Addison. "Those things together really led me to understand that the fiat currency is simply not honest [and] not reliable."
The founder of Natural News and Brighteon.com already knew that the Federal Reserve was a rigged monetary system, due to him following former Rep. Ron Paul (R-KY) for decades. The debanking that has been happening also led Adams to promote the decentralization of currency, finance and money.
Adams expressed belief that preference toward fiat currency will change in favor of Bitcoin. Being able to use a digital coin that works and doesn't lose its value may be the answer, he added.
People will understand the intrinsic value of Bitcoin and other digital tokens when they learn that its utility is backed by the ability to take self-custody, engage in borderless transactions and send or retrieve money anytime to anyone anywhere in the world. "That value cannot be matched by the fiat currency banking system," said Adams.
Meanwhile, Addision mentioned that Bitcoin is a great alternative to holding personal assets. He nevertheless acknowledged that spending the digital token is a little bit harder than holding it at the moment.
"People still need to sort of live, buy your coffee or buy food to survive," he told Adams. "There are definitely people that are accepting Bitcoin, but obviously not as much as fiat currencies, at least in North America at the moment."
Addison also noted that the West's debanking of Russia, through the latter's exclusion from the SWIFT international financial settlement system, was the worst financial mistake in world history. In response, Adams remarked that the five-member BRICS group – Brazil, Russia, India, China and South Africa – are already meeting to discuss the new currency to dethrone the U.S. dollar. (Related: Potential BRICS expansion could mark end of dollar as world’s pre-eminent currency.)
The Health Ranger added that aside from BRICS, at least 100 other nations around the world are abandoning the greenback in an initiative called Operation Sandman. Saudi Arabia is one such country already done with the dollar, as the kingdom announced that it would sell oil in all kinds of currencies. Riyadh would accept the Indian rupee, Chinese yuan and Russian ruble for petroleum transactions.
Given this, Adams said Americans are going to see the U.S. dollar's rapid debasement. This would subsequently lead to rapid hyperinflation in consumer products.
"So, the dollar, in my opinion, is doomed ultimately," the Health Ranger said. "When the dollar fails, if the banks fail, Bitcoin will still work. Bitcoin will outlast the U.S. dollar, that's my prediction today. When the dollar is dead, Bitcoin will still be here and it will still be functioning."
The "Crypto Coin Show" producer and EventChain CEO also noted that aside from the U.S., many other countries in the world can benefit from Bitcoin. He cited the example of El Salvador in Central America, which experienced double-digit GDP growth since it made Bitcoin a legal currency. According to Ashton, El Salvador's positive outcome with Bitcoin could reverberate in other countries that may want Bitcoin as legal tender or place it on their balance sheet.
Visit CryptoCult.news for more stories about Bitcoin versus the fiat currency banking system.
Watch the full conversation between the Health Ranger Mike Adams and Ashton Addison on the "Crypto Coin Show" below.
This video is from the Health Ranger Report channel on Brighteon.com.