Lyric discussion by RileyLewis 

It actually makes perfect grammatical sense. Think about it. Haven't you ever heard anyone say "If I knew that, I would..."

Knew is the present as well as past tense. Know is "to know". I'm not an english major obviously, but it's very clear that knew is the appropriate word in this situation. And it also clearly sounds like knew.

Also, it sounds like "wise up" to me.

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