Bitcoin News and Finance
Mexican Billionaire Advocates Bitcoin for Wealth Protection — ‘People Need to Realize They’re Being Robbed’ Skip to main content

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

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

Mexican billionaire Ricardo Salinas sees bitcoin as a way to protect against inflation tax because the cryptocurrency cannot be debased. “People’s savings are being taken from them without their permission, without their knowledge,” he stressed, adding that “everybody would benefit from understanding that the debasement of currency is a very useful trick in the fraudsters’ trick book to avoid raising taxes or debt.”

Ricardo Salinas on Benefits of Bitcoin

Ricardo Salinas, chairman of Grupo Salinas, discussed how bitcoin can affect an economy, particularly in Latin America, in an interview with Bitcoin Magazine, published Friday.

“All over the world, not just in Mexico or Latin America, what we’re seeing is this increasing inflation tax, which means that the people’s savings are being taken from them without their permission, without their knowledge, and it’s very sad, especially for people who depend on this for their retirement,” he began, adding:

So bitcoin is a way to protect against that because it cannot be debased.

“So the importance of bitcoin is that it’s tax resistant and many other things, but very specifically applied to hyperinflationary economies, which we have several in Latin America,” the Mexican billionaire added.

When asked about what needs to happen in Mexico for mass bitcoin adoption, Salinas replied: “The first thing that needs to happen is people need to realize 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 commit fraud and they stand there and say ‘how are we doing monetary policy’ and they’re just stealing people blind.”

The billionaire emphasized: “So first thing that needs to happen is people need to understand how this works so they can then defend against that but these ‘gobiernicolas,’ these government cavemen as I call them, they’re not dumb and they’re not stupid and they’re not going to give away this power they have to confiscate people’s wealth, so you gotta take it from them.”

He opined:

I think everybody would benefit from understanding that the debasement of currency is a very useful trick in the fraudsters’ trick book to avoid raising taxes or debt.

Regarding how a bitcoin exchange-traded fund (ETF) will affect BTC, he said: “Obviously, an ETF is a new source of demand. It makes it easier for people to invest in bitcoin so that’s great. It’s what’s needed. But precisely because it’s great and what’s needed, it’s precisely because of that reason that the crooks in power don’t allow it to proceed.” He noted that the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, “knows exactly what we’re talking about.” The billionaire concluded:

He [Gensler] has very good reasons not to allow, as well as the people in the Treasury and the Fed, they all know perfectly well it’s not about protecting investors, it’s about protecting their way of financing government spending without raising taxes.

Do you agree with Mexican billionaire Ricardo Salinas? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory