9 hours ago
Mexican billionaire Ricardo Salinas has renewed his informing astir the planetary fiat wealth system, urging mean radical to merchantability their homes, bargain Bitcoin (BTC) and gold, and brace for what helium calls the illness of fiat currencies.
Speaking connected Robert Breedlove’s “What is Money?” podcast, Salinas said existent property is nary lucifer for Bitcoin’s scarcity and portability, arguing that savers request hard wealth to support their wealth.
He said:
“My solution is you person a house. If you deliberation that’s your investment, merchantability the location and bargain Bitcoin. Because you tin ever marque much houses. Bitcoin, you can’t marque immoderate more.”
While helium acknowledged that owning a location makes consciousness for living, Salinas said it fails arsenic an concern compared to Bitcoin’s deflationary properties and borderless custody. He encouraged homeowners to see taking semipermanent mortgages to escaped up superior for Bitcoin instead.
Salinas, president of Grupo Salinas and 1 of Latin America’s wealthiest Bitcoin holders, framed fiat currency arsenic a mechanics for governments to bargain from citizens done inflation. He besides criticized cardinal banking arsenic an illusion that enables states to grow indefinitely.
According to him:
“This fiat thing, which is simply a nonstop effect of Keynesian economics, has to beryllium enactment to death, you know, similar the spike of the vampire with a metallic slug done the heart.”
His latest comments echo his earlier remarks to Kitco News successful June, wherever helium warned that existent authorities monetary policies are pushing planetary economies toward fiscal repression and stealth confiscation done inflation.
Salinas has built his nationalist connection astir the failures of fiat wealth and the risks of inflationary policies. He often cites his acquisition surviving done Mexico’s hyperinflation successful the 1980s, erstwhile the peso collapsed from 20 to 3,000 per dollar successful conscionable six years.
He told Kitco past month:
“Fiat wealth is simply a fraud… It’s a scam. It’s fake money. And it’s coming to an end.”
In some interviews, Salinas argued that governments weaponize ostentation and integer currencies to confiscate wealthiness and power citizens. He said Bitcoin and golden are the lone “hard money” flight routes near for savers.
According to Salinas:
“The sooner we get illustrated by Bitcoin, the bigger it gets. This is the opening of a caller epoch — and the faster you aftermath up, the amended disconnected you’ll be.”
Salinas, who controls Banco Azteca and TV Azteca, has go 1 of Latin America’s loudest Bitcoin advocates. His caller book, The Bitcoin Enlightenment, released this summer, expands connected his content that Bitcoin is not conscionable a monetary breakthrough but a motivation counterweight to authorities overreach.
The station Mexican billionaire says merchantability your home, bargain Bitcoin arsenic fiat nears collapse appeared archetypal connected CryptoSlate.
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