Mexican Billionaire Advice The Populates To Buy Bitcoin In Order To Escape Inflation

The third richest man in Mexico, Ricardo Salinas Pliego, has come out to share his experience of how he was able to survive and live through hyperinflation. 

He warned that the United State and many other civilizations are going through the exact same route his country went through in the 1980s.

In the early hours of Sunday, Ricardo in an interview gave some really candid advice regarding inflation, hyperinflation, Bitcoin, and fiat currencies at the Bitcoin conference in Miami, Florida.

Ricardo And His Experience

Ricardo is the chairman and founder of Grupo Salinas. Grupo Salinas is a group of companies with interests in telecommunications, financial services, media, and retail stores. And according to Forbes, Ricardo’s estimated net worth is about $13 billion currently.

The telecommunications business mogul began by sharing his own experience on how he was able to live with inflation. In his exact words he said “I was making $2,000 in 1980 and a few years later, I was making $20. It is unbelievable sometimes when I think about how drastically things turned for the worse.”

He went on to say “so I know about hyperinflation, I’ve been there. And it is jot the same to know it in theory as to actually be a victim.”

Ricardo is of the opinion that the bad news in the United State, the United Kingdom, Japan, and the European Union are going the same route as his country did in the 80s. He maintained that the current situation is basically a copy-paste from the past. 

The Mexican business tycoon proceeded to post a chart of the federal debt of the United States government which is projected to be $36.2 trillion in 2031. 

He showed another chart which was even more detailed than the first. The chart was of the total U.S assets which grew from $8 billion to $8.9 trillion this year. 

The Truth About The Federal Reserve Assets

Ricardo explained that what the Federal Reserve was doing was producing ‘fake money’ out of the blue and loaning it out to create a purchasing power to the tune of where we are now currently. He went on to say that there are about $9 trillion of fake savings made by the Federal Reserve.

In Ricardo’s words: “The creation of fake credit which equals purchasing power has been astounding. The problem is that because the dollar is the reserve currency of the world, we can’t do anything about it. You can’t go out of the dollar — unless you go to bitcoin.”

Ricardo’s Warnings About Central Bank Digital Currencies

Ricardo proceeded to talk about central bank digital currencies (CBDCs). He brought up a picture of ECB Chief Christine Lagarde, United States Treasury Secretary Janet Yellen and BIS general manager Agustin Carstens. He labeled them “The Villains.”

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

He finally mentioned that the situation will only be averted if people took to Bitcoin and certified seasoned and new investors who use eToro, safe from harm’s way.

He maintained that all that is happening is a total repeat of the past and people need to start waking up to handle their finances.