Mexican Billionaire Advocates Bitcoin for Wealth Protection — ‘People Need to Realize They’re Being Robbed’

Mexican billionaire Ricardo Salinas sees bitcoin arsenic a mode to support against ostentation taxation due to the fact that the cryptocurrency cannot beryllium debased. “People’s savings are being taken from them without their permission, without their knowledge,” helium stressed, adding that “everybody would payment from knowing that the debasement of currency is simply a precise utile instrumentality successful the fraudsters’ instrumentality publication to debar raising taxes oregon debt.”

Ricardo Salinas connected Benefits of Bitcoin

Ricardo Salinas, president of Grupo Salinas, discussed however bitcoin tin impact an economy, peculiarly successful Latin America, successful an interrogation with Bitcoin Magazine, published Friday.

“All implicit the world, not conscionable successful Mexico oregon Latin America, what we’re seeing is this expanding ostentation tax, which means that the people’s savings are being taken from them without their permission, without their knowledge, and it’s precise sad, particularly for radical who beryllium connected this for their retirement,” helium began, adding:

So bitcoin is simply a mode to support against that due to the fact that it cannot beryllium debased.

“So the value of bitcoin is that it’s taxation resistant and galore different things, but precise specifically applied to hyperinflationary economies, which we person respective successful Latin America,” the Mexican billionaire added.

When asked astir what needs to hap successful Mexico for wide bitcoin adoption, Salinas replied: “The archetypal happening that needs to hap is radical request to recognize that they’re being scammed, that they are being robbed by these crooks and the government.” He stressed: “That’s what they are, they’re fraudsters. They perpetrate fraud and they basal determination and accidental ‘how are we doing monetary policy’ and they’re conscionable stealing radical blind.”

The billionaire emphasized: “So archetypal happening that needs to hap is radical request to recognize however this works truthful they tin past support against that but these ‘gobiernicolas,’ these authorities cavemen arsenic I telephone them, they’re not dumb and they’re not anserine and they’re not going to springiness distant this powerfulness they person to confiscate people’s wealth, truthful you gotta instrumentality it from them.”

He opined:

I deliberation everybody would payment from knowing that the debasement of currency is simply a precise utile instrumentality successful the fraudsters’ instrumentality publication to debar raising taxes oregon debt.

Regarding however a bitcoin exchange-traded money (ETF) volition impact BTC, helium said: “Obviously, an ETF is simply a caller root of demand. It makes it easier for radical to put successful bitcoin truthful that’s great. It’s what’s needed. But precisely due to the fact that it’s large and what’s needed, it’s precisely due to the fact that of that crushed that the crooks successful powerfulness don’t let it to proceed.” He noted that the president of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, “knows precisely what we’re talking about.” The billionaire concluded:

He [Gensler] has precise bully reasons not to allow, arsenic good arsenic the radical successful the Treasury and the Fed, they each cognize perfectly good it’s not astir protecting investors, it’s astir protecting their mode of financing authorities spending without raising taxes.

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