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.”
Salinas-Price is trying to implement an idea involving silver coins that just might save the common man. Salinas-Price goes on to explain, “It is a silver coin that is given a monetary value by a quote and not by stamping the number on the coin. . . . It would receive a quote from the Treasury (not a central bank). Don’t give it to the Fed, give it to the Treasury. Then you are saving in silver money which makes it 10 times or 100 times more attractive. When this takes place–boom, it’s going to change the whole thing. It’s going to shake up the world.”
Salinas-Price thinks what is coming is going to be an “apocalypse.” Salinas-Price predicts, “This is apocalyptic. We are in a terrible mess, and there is no way out without suffering. Apocalypse means prices are going to go haywire. Business is going to stagnate. Unemployment is going to prevail. There is going to be enormous disorder. That’s what I see will happen. We are not going to get out of this mess easily. It is going to be painful. One way to avoid pain is to have something you will be able to trade for what you need and that is gold and silver, especially gold.”
Join Greg Hunter as he goes One-on-One with retail mogul Hugo Salinas-Price.
(There is much more in the video interview.)
After the interview: Hugo Salinas-Price has 18 grandchildren and one of his sons if running the company he started. Salinas-Price also has a free website that contains information and articles in both Spanish and some English. Click here for Plata.com.mx. Here are articles in English from Plata.com.mx.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.