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The third-richest billionaire in Mexico, Ricardo Salinas Pliego, has shared his experience of living through hyperinflation. He warned that the U.S. and several other civilized countries are \u201cgoing exactly the same route\u201d his country went through in the 1980s.<\/strong><\/p>\n Mexico\u2019s third-richest billionaire, Ricardo Salinas Pliego, gave some advice Thursday regarding inflation, hyperinflation, bitcoin, and fiat currencies at the Bitcoin 2022 conference in Miami, Florida.<\/p>\n Salinas is the founder and chairman of Grupo Salinas, a group of companies with interests in telecommunications, media, financial services, and retail stores. According to Forbes\u2019 list of billionaires, his net worth is about $13 billion currently.<\/p>\n The billionaire began by sharing his own experience living with inflation. \u201cI was making $2,000 in 1980 and a few years later I was making 20 bucks \u2014 the same salary was down from 2,000 to 20 bucks,\u201d he said, adding:<\/p>\n So I know about hyperinflation. I\u2019ve been there. And it\u2019s not the same to know it in theory as to actually be a victim of it.<\/p>\n<\/blockquote>\n He warned: \u201cThe bad news is that the U.S., and Japan, and the U.K., and the euroblock \u2014 they are going exactly the same route my country went in the 80s. It\u2019s exactly copy-paste, you could just change the numbers but the graph would be the same.\u201d<\/p>\n The Mexican tycoon 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. \u201cSee, horrific. $36 trillion and this is on the books debt, not counting off the books stuff,\u201d he exclaimed.<\/p>\n 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. \u201cSo the Federal Reserve has a lot of assets, that must be great, mustn\u2019t it? And they\u2019re buying bonds, that must be great,\u201d he commented before explaining what the Federal Reserve actually did.<\/p>\n \u201cWhat they are doing is making fake money out of thin air and loaning it out to create a purchasing power to the tune of, we\u2019re now, $9 trillion of fake savings made by the Federal Reserve,\u201d the billionaire described, adding:<\/p>\n The creation of fake credit which equals purchasing power has been astounding. The problem is because the dollar is the reserve currency of the world, can\u2019t do anything about it. You can\u2019t go out of the dollar \u2014 unless you go to bitcoin.<\/p>\n<\/blockquote>\n Salinas proceeded to talk about central bank digital currencies (CBDCs). He brought up a picture of ECB Chief Christine Lagarde, BIS general manager Agustin Carstens, and U.S. Treasury Secretary Janet Yellen. He labeled them \u201cThe Villains.\u201d<\/p>\n He said: \u201cCBDC, central bank digital currency, that\u2019s even worse than the dollar. It\u2019s much worse than the dollar because if the CBDC is issued, these people will have full control over how you can spend your money.\u201d He opined:<\/p>\n Furthermore, they will be tracking 100% of all your spending and what you spend and how you spend it \u2014 they\u2019re pretty devilish people.<\/p>\n<\/blockquote>\n He pointed out that while Lagarde was the chief of the International Monetary Fund (IMF), the organization published papers stating that \u201cthe way to deal with government debt is through inflation, we will liquefy the debt and get away with paying less.\u201d<\/p>\n Noting that right now we are at the equivalent of his $2,000 a month salary and we are going the route of earning $20 a month, he then asked, \u201cIs this the future you want?\u201d<\/p>\n He concluded: \u201cI\u2019ve been there and I\u2019ve done that and it\u2019s going to come. It\u2019s 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 fraud.\u201d<\/p>\n He warned: \u201cThis has happened. It just didn\u2019t happen to the U.S. It doesn\u2019t mean it can\u2019t happen to a civilized country. Germany was a highly civilized country until it got hit by the inflation in Weimar.\u201d While admitting that Germany is not the same as Zimbabwe, he said it can go through the same process. The billionaire opined: \u201cUnfortunately, in the U.S. it\u2019s curtains. This is the way to save your skin \u2014 buy bitcoin.\u201d<\/p>\n Salinas tweeted Thursday:<\/p>\n Please\u2026 don\u2019t put your future in governments\u2019 hands, you and I know how that always ends, stay away from fiat money, invest in BTC<\/a>.<\/p>\n<\/blockquote>\nMexican Billionaire Warns About Inflation<\/h2>\n
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Salinas Warns About Central Bank Digital Currencies<\/h2>\n
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