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 concern for a Mexican billionaire:
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. According to Forbes ‘ list of billionaires, his current net worth is estimated to be over $13 billion.
The millionaire began by recounting his own 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 said, adding, “I was making $2,000 in 1980 and $20 a few years later — the same salary went from $2,000 to $20 a few years later.”
So I’m familiar with hyperinflation. I’ve been there before. In theory, it’s not the same to understand it 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 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 purchasing bonds, which must be fantastic,” he said before going into detail about the Federal Reserve’s actions.
The fabrication of Phoney credit with 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 Bank of International Settlements general manager, 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 even worse than the dollar because once 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 said 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 may purchase bitcoin and sell the shitcoins we have on hand. “And absolutely no to fiat fraud,” says the author.
“This has occurred,” 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 cultured society until the inflation of the Weimar Republic.” Even though 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.”
Thursday, Salinas tweeted: Please… don’t put your future in governments’ hands, you and I know how that always ends, stay away from fiat money, and invest in BTC.
