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'Fiat is a fraud': Ricardo Salinas says bitcoin and gold are the only way out
By Jeremy Szafron
Kitco News, Montreal
Monday, June 16, 2025
Mexican billionaire Ricardo Salinas says the fiat money system is collapsing under the weight of its own contradictions, and that bitcoin and gold remain the only lifelines for savers and investors.
"Fiat money is a fraud," Salinas said in a new interview with Kitco News. "It's a scam. It's fake money. And it's coming to an end."
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Salinas, chairman of Grupo Salinas and one of Latin America's wealthiest bitcoin holders, warned that current government monetary policies -- particularly in the U.S. and Mexico -- are pushing global economies toward financial repression and stealth confiscation through inflation.
"In the United States they have a spending problem," he said. "They spend money they don't have, and then they print the difference. It's going to end badly -- not only for Americans, but for everyone who holds dollars." ...
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