Ricardo Salinas Pliego (Mexico’s third-richest billionaire) has described his story of living under hyperinflation. He cautioned that the United States and numerous other civilized countries are “on the same path” as his country in the 1980s.
Inflation is a major concern for a Salinas
At the Bitcoin 2022 conference in Miami, Florida, Mexico’s third-richest billionaire, Ricardo Salinas Pliego, delivered some advice on inflation, hyperinflation, bitcoin, and fiat currencies.
Salinas is the founder and chairman of Grupo Salinas, a conglomerate with businesses in telecommunications, media, finance, and retail. His current net worth is estimated to be around $13 billion, according to Forbes’ list of billionaires. The billionaire began by recounting his own personal experience with inflation. “I was making $2,000 in 1980 and $20 a few years later – the same wage went from $2,000 to $20,” he remarked, adding,
“So I’m familiar with hyperinflation.” I’ve been there before. It’s not the same to understand it in theory as it is to experience it firsthand.
“The bad news is that the United States, Japan, the United Kingdom, and the eurozone are all taking the same path that my country did in the 1980s,” he warned. It’s precise copy-paste; all you have to do is modify the numbers, and the graph will remain the same.”
The Mexican tycoon then displayed a graph depicting the US government’s entire federal debt, which is expected to reach $36.2 trillion by 2031. “See, it’s horrible. He screamed, “$36 trillion on the books debt, not counting off the books items!”
The second graph he displayed depicted total US assets, which increased from $0.8 trillion in 2005 to $8.9 trillion this year. “The Federal Reserve has a lot of assets, right? That has to be excellent, right?” And they’re buying bonds, which must be fantastic,” he added before going into detail about the Federal Reserve’s actions.
What they’re doing is creating fictitious money out of thin air and lending it out to create purchasing power to the tune of $9 trillion in fictitious savings created by the Federal Reserve,” the billionaire explained, adding:
The fabrication of phoney credit that has the same purchasing power as real credit has been astonishing. The issue is that because the dollar is the world’s reserve currency, nothing can be done about it. You can’t get away from the dollar until you use Bitcoin.
Salinas Issues a Warning Regarding Central Bank Digital Currencies
Salinas then went on to discuss central bank digital currency (CBDCs). He displayed a photo of Christine Lagarde, the head of the European Central Bank, Agustin Carstens, the general manager of the Bank of International Settlements, and Janet Yellen, the US Treasury Secretary. They were dubbed “The Villains” by him.
“CBDC, central bank digital currency, is worse than the dollar,” he remarked. It’s far worse than the dollar because if the CBDC is released, these individuals will have complete power over your money.” He expressed his opinion as follows:
Furthermore, they will track every penny you spend, including what you buy and how you spend it – they’re diabolical people.
He noted that while Lagarde was the IMF’s chief, the agency released papers claiming that “the method to deal with government debt is through inflation, we’ll liquefy the debt and get away with paying less.” “Is this the future you want?” he said, noting that we are currently receiving the equivalent of his $2,000 monthly payment and that we are taking the road of earning $20 each month.
“I’ve been there and done that, and it will come,” he said. It’s not a pleasant thing to behold. So, what are our options? We can purchase Bitcoin and sell the shitcoins we have on hand. “And definitely no to fiat fraud,” says the author.
“This has happened,” he warned. It just didn’t happen in the United States. It doesn’t rule out the possibility that it may happen in a civilized country. Germany was a highly civilized country until the inflation of the Weimar Republic.” Despite the fact that Germany is not the same as Zimbabwe, he believes the two countries may go through the same process.
“Unfortunately, in the United States, it’s curtains,” the millionaire said. Buying bitcoin is the way to save your skin.”
Please… don’t put your future in the hands of governments; you and I both know how it always ends; instead, stay away from fiat currency and invest in Bitcoin.
Also Read: According to Billionaire Peter Thiel, Bitcoin is Set to Rise 100x – and Warren Buffett is on the List of Bitcoin’s Enemies
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