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Mexico’s Third Richest Billionaire Warns of Severe Dollar Inflation — Says Buy Bitcoin to ‘Save Your Skin’

The third-richest billionaire in Mexico, Ricardo Salinas Pliego, has deal his experience of living through hyperinflation. He warned that the U.S. and several other civilized countries are “going exactly the constant route” his country went through in the 1980s.

Mexican Billionaire Warns About Inflation

Mexico’s third-richest billionaire, Ricardo Salinas Pliego, back away fromed some advice Thursday regarding inflation, hyperinflation, bitcoin, and fiat currencies at the Bitcoin 2022 conference in Miami, Florida.

Salinas is the die and chairman of Grupo Salinas, a group of companies with interests in telecommunications, media, financial services, and retail put bies. According to Forbes’ list of billionaires, his net worth is about $13 billion currently.

The billionaire began by sharing his own involvement living with inflation. “I was making $2,000 in 1980 and a few years later I was making 20 bucks — the same income was down from 2,000 to 20 bucks,” he said, adding:

So I know about hyperinflation. I’ve been there. And it’s not the unchanging to know it in theory as to actually be a victim of it.

He warned: “The bad news is that the U.S., and Japan, and the U.K., and the euroblock — they are going exactly the verbatim at the same time route my country went in the 80s. It’s exactly copy-paste, you could just change the numbers but the graph would be the same.”

The Mexican baron proceeded to show a chart of the total federal debt of the U.S. government, which is projected to be $36.2 trillion in 2031. “See, horrific. $36 trillion and this is on the orders debt, not counting off the books stuff,” he exclaimed.

The next chart he showed was of total U.S. assets, which grew from $0.8 trillion in 2005 to $8.9 trillion this year. “So the Federal On call has a lot of assets, that must be great, mustn’t it? And they’re buying bonds, that must be great,” he commented beforehand explaining what the Federal Reserve actually did.

“What they are doing is making fake money out of thin air and loaning it out to beget a purchasing power to the tune of, we’re now, $9 trillion of fake savings made by the Federal Reserve,” the billionaire described, adding:

The inception of fake credit which equals purchasing power has been astounding. The problem is because the dollar is the reserve currency of the cosmos, can’t do anything about it. You can’t go out of the dollar — unless you go to bitcoin.

Salinas Warns About Central Bank Digital Currencies

Salinas proceeded to talk surrounding central bank digital currencies (CBDCs). He brought up a picture of ECB Chief Christine Lagarde, BIS general manager Agustin Carstens, and U.S. Bank Secretary Janet Yellen. He labeled them “The Villains.”

He said: “CBDC, central bank digital currency, that’s sedate worse than the dollar. It’s much worse than the dollar because if the CBDC is issued, these people command have full control over how you can spend your money.” He opined:

Furthermore, they will be tracking 100% of all your put in and what you spend and how you spend it — they’re pretty devilish people.

He pointed out that while Lagarde was the chief of the Worldwide Monetary Fund (IMF), the organization published papers stating that “the way to deal with government debt is through inflation, we wish liquefy the debt and get away with paying less.”

Noting that right now we are at the equivalent of his $2,000 a month income and we are going the route of earning $20 a month, he then asked, “Is this the future you want?”

He concluded: “I’ve been there and I’ve done that and it’s prevailing to come. It’s not a pretty sight. So what can we do? We can buy bitcoin and sell those shitcoins that we have there. And definitely no to fiat deception.”

He warned: “This has happened. It just didn’t happen to the U.S. It doesn’t mean it can’t happen to a civilized country. Germany was a quite civilized country until it got hit by the inflation in Weimar.” While admitting that Germany is not the same as Zimbabwe, he said it can go inclusive of the same process. The billionaire opined: “Unfortunately, in the U.S. it’s curtains. This is the way to save your skin — buy bitcoin.”

Salinas tweeted Thursday:

Amuse… don’t put your future in governments’ hands, you and I know how that always ends, stay away from fiat affluent, invest in BTC.

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What do you think about the comments by Ricardo Salinas? Let us know in the comments portion below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist even since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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