Cast Channel by paying {G}{G}.
Activate Phyrexian Altar by sacrificing Inspiring Cleric, adding {U}.
When Inspiring Cleric dies, Fool's Demise's first and second abilities trigger.
Resolve the first Fool's Demise trigger, returning Inspiring Cleric from your graveyard to the battlefield.
When Inspiring Cleric enters the battlefield, it triggers, causing you to gain 4 life.
Resolve the second Fool's Demise trigger, returning it from your graveyard to your hand.
Activate Channel four times by paying 4 life, adding {C}{C}{C}{C}.
Cast Fool's Demise by paying {4}{U}, attaching it to Inspiring Cleric.
Repeat from step 2.

Infinite death triggers

Infinite ETB

Infinite lifegain triggers

Infinite LTB

Infinite sacrifice triggers

Infinite storm count

Fool's Demise

Channel

Phyrexian Altar

Inspiring Cleric

Combos with "Inspiring Cleric"