The Daily Coin
Economy
Apocalypse and Enormous Disorder Coming-Hugo Salinas-Price
by Greg Hunter, USA Watchdog, via The Daily Coin.com:
Mexican retail mogul Hugo Salinas-Price is worried about the common man and the upcoming currency calamity that is approaching the globe. Salinas-Price says, “It certainly isn’t getting better when you have some intellectuals going so crazy as to say they want to ban cash. We can’t go too much further along this road. This is utter madness. We’re not supposed to use cash anymore? Salinas Price goes on to say, “If we have these lunatics running things, it can’t get any better. We have people running things that have forgotten about what motivates the common man. . . . I want people to have silver because it is going to protect them.”
Why does the common man need the protection of precious metals? Salinas-Price says, “I just read today the global debt is $200 trillion, and it’s grown from the last crisis in 2008. Something has to happen to take care of that debt. Either it’s going to be repudiated or it’s going to be inflated away, or it’s going to be paid with taxation. . . . We are headed over Niagara Falls.”
Salinas-Price, 83 years old and a billionaire, warns currencies can suffer huge inflation risks. Since the mid 1970’s, Salinas-Price points out the peso exchange rate has plunged compared to the U.S. dollar. Salinas-Price says, “From 1976 to date, from 12.50 pesos (to $1 US) we are now at 15,100 pesos (to $1 US) and going further down. Savings can become worthless, and that’s what I tell people. Don’t save money that is going to devalue. This inflation that is going on that is presently debt that is like a cloud that is up there. When it begins to liquidate, it’s going to be pouring down. People will be rushing around trying to buy things. The money is going to be worthless because in a liquidation, what can you buy with all this water (fiat money) that is coming down. As long as it is up there in credit, it’s okay. It’s up there in the cloud, but if it begins to liquidate, watch out.”
So, is Salinas-Price predicting the same huge devaluation for the U.S. dollar as what has happened to the Mexican peso? Salinas-Price contends, “Same cause, same effect. It is absolutely unavoidable. That’s why I have been urging people to have silver and gold.”
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