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“Fiat Is A Fraud” – Mexico’s 3rd Richest Man Says “Absolutely Right” To Buy Bitcoin “The New Gold”

Courtesy of ZeroHedge View original post here.

Fiat is a fraud. Look, I started my career in 1981, the Mexican Peso was 20 to $1. Today we are at 20,000 to 1.

And that is in Mexico, but if we look at Venezuela, Argentina or Zimbabwe, the numbers lose all proportions.”

Those are the ominous words of Ricardo Salinas Pliego – Mexico's third richest man – in a recent interview in which he called the dollar "a joke":

The fiat fraud is inherent to the fiat system and we can see it today in USA. Monetary issuance went to the moon, you understand? The dollar as hard money is a joke.”

Bitcoin on the other hand has a fixed 21 million limit and that is key, he said:

I’ve invested a lot of time studying bitcoin and I think it’s an asset that should be part of every investor’s portfolio.

It’s an asset that has value, international value, that is traded with enormous liquidity at a global level and that is enough reason for it to be part of every portfolio, period.

The finite supply of bitcoin, the 21 million, is the key part. That’s why I say about ethereum, while they don’t have a finite supply, I don’t believe anything they do. For all I know, they emit more and your asset deprecates.”

“If today you could choose one asset, good or money to take into the future, what would you take. Gold, silver, Bolivars, Argentine Pesos, Mexican Pesos?” the interviewer asks.

“[Laughs loudly] No, no, no, no stinky fiat for no reason. Not even a single peso, no paper bills. I would take bitcoin.”

Watch the interview below:

As TrustNodes.com reports, Salinas is estimated to be worth more than $13 billion with him revealing in November last year that he invested 10% of his “liquid portfolio” in bitcoin.

Finally, as Microstrategy CEO Michael Saylor tweeted following Salinas' interview:

"If you are hoping to preserve your wealth for a generation, Ricardo Salinas suggests you invest in bitcoin. The strategy is simple - choose the highest quality asset you can find and hodl."

To which the Mexican billionaire responded:

"That’s totally right, Bitcoin is the new gold, but too much more portable, transport Bitcoin is so much easier than having your in pockets gold bars … and i know that I’m going to be attacked by gold lovers,"

Thoughts Elon?

 


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