As Mexican billionaire Ricardo Salinas continues to elucidate bitcoin from the personal jet perspective, Bitcoinist’s companion piece to the interview continues the job we began right here. Or, it would even have been right here. This time, Salinas and journalists and podcasters Max Keiser and Stacy Herbert go even additional into the bitcoin rabbit gap. From right here, there’s no turning again.
In this second half, Herbert offers Salinas full credit score because the individual chargeable for bringing bitcoin into Mexico. They additionally speak concerning the risk that billionaires may very well be within the betterment of humanity. About Florence and the Medicis. About the great thing about accounting, that, amongst different issues, “enables the citizens to hold the king accountable.” They additionally focus on the worth of personal and public corporations and point out that economies hit by the present system are those that undertake bitcoin first.
That, plus much more bitcoin. Check it out:
Ricardo Salinas On The Importance Of a Sound Money System
For the free market to do its factor, the world needs to be at peace.”War is totally the other of commerce,” Salinas mentioned. “The huge wars were based on the fiat fraud,” Salinas accused. “The monetary system is like the foundation of this civilization that you bring, that you construct on top of. If the foundation is wrong, the construction is going to fall off (…) That is why a sound money system is so important,” Salinas defined.
How will we get to the reality, although? Proper accounting strategies. “I’m saying accounting is very important to be able to keep you honest and to get to the truth,” he mentioned, for then to accuse, “the current day governments in Mexico and the U.S, they don’t use accounting. They have this in an out flow (…) It’s disgusting.”
Then, Stacy Herbert lightens the temper. “Bitcoin is f*ck you money. I mean, the President of El Salvador has said that just recently in a tweet (…) And that is the new modern way of freedom for everybody on the individual level.” After listening to that Hugo, Ricardo Salina’s son, compares their journey to El Salvador with going to Galt’s Gulch in Ayn Rand’s “Atlas Shrugged.”
“You don’t change bitcoin; bitcoin changes you,” says Stacy Herbert giving Max Keiser full credit score for the traditional phrase. How did bitcoin change Salinas’ perspective? “It’s given me a lot more confidence in my ability to survive.” And, what about his son? “I think Bitcoin is like the greatest innovation that we’ve seen so far and it fixes this corrupt system,” Hugo says.
BTC value chart for 05/06/2022 on Eightcap | Source: BTC/USD on TradingView.com
The Michael Saylor Effect
Salinas describes MicroStrategy’s bitcoin coverage and Michael Saylor’s brave wager as:
“…He owes money, he borrowed money to buy Bitcoin. He borrowed fiat to buy Bitcoin. So, he’s short fiat, long-term bonds had a low rate. Which, by the way, I think it’s a very good idea anyway (…) Now, the other part is taking all the money and investing it in bitcoin (…) I’m a pretty aggressive investor, I mean I’m not scared of practically anything but this concentration of a bet in the single asset that’s too much for me. (…) If it pays off, and I think it will, he’s going to blow it through the roof, but it’s a big risk.”
The journalists query the billionaire about envy and Salinas solutions, “envy is a really bad sentiment. It leads to absolutely no good, and it affects you personally more than the other guy.” With that, Stacy Herbert agrees and provides, “You can only live your own best life. You do you and that’s it.” Showing he’s a real Bitcoiner, Ricardo Salinas doesn’t say how a lot bitcoin he has. “Is not a good policy to talk about how much you have in general. Second, it’s a security risk. Third, what’s the point?”
Ricardo Salinas Answers A Burning Question
Max Keiser brings the dialog again to Michel Saylor, who he contends is launching a speculative assault on the US greenback with MicroStrategy’s bitcoin play. Relating it to that, Keiser launches crucial query of the entire interview. “He also says that in his view in the future, that bitcoin will be the world reserve asset, and that the U.S dollar will remain the world reserve currency (…) What do you respond to that?”
Ricardo Salinas doesn’t disappoint, “I agree that (…) Bitcoin’s on the way to being a world reserve asset, I 100% agree. I’m not sure that the dollar is going to make it (…) Now especially, that the U.S has weaponized the dollar to further its imperial purposes. Why would a self-respecting big country like Russia or China, why would they accept that as a reserve currency? Clearly it has a lot of downsides.”
Plus, fiat cash is slowly dying and all of us can see the indicators round us. Is that what’s taking place? Tomorrow, within the concluding chapter of this sequence, Keiser raises one other risk and Ricardo Salinas responds. Don’t miss it.
Featured Image: Ricardo Salinas, screenshot from the video | Charts by TradingView