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  5. Ricardo Salinas Bitcoin Masterclass, Part 1: Fiduciary Fraud – with Keizer and Herbert

Ricardo Salinas Bitcoin Masterclass, Part 1: Fiduciary Fraud – with Keizer and Herbert

Ricardo Salinas Bitcoin Masterclass, Part 1: Fiduciary Fraud – with Keizer and Herbert

Right now, Mexican billionaire Ricardo Salinas is a bitcoin staple. His keynote address at the Bitcoin 2022 conference was a buzzword, and the fact that he has 10% of his assets in bitcoin cannot be ignored. After all, he would be the third richest person in Mexico, so 10% is probably an ungodly sum. And today we are going to dissect this interview of Ricardo Salinas by Max Keizer and Stacy Herbert from his private jet.

That’s right, Keizer and Herbert turned the plane ride that culminated with this visit to El Salvador into content. This interview is so full of gems that it will have to be broken down. Consider the following article as a supplement to the video, which you should definitely watch. We will focus on Bitcoin and the current financial system, but the three characters discuss other topics such as Ricardo Salina’s presence on social media, Venice, and the meaning of the word “*******.”

Table of Contents:

The history of Bitcoin by Ricardo Salina

How did a Mexican businessman born with a silver spoon discover bitcoin? “My dad and I were always very aware of how the monetary degradation was going,” Ricardo Salinas begins, after confessing that they were both “gold worms.” During the interview, Salinas does not utter a single swear word about gold, which he does not see as competition to bitcoin. On the other hand, he still refers to the current system as “fiduciary fraud”.

Ricardo Salinas first bought bitcoin as an exchange and suddenly realized that it was even better than gold due to its inherent characteristics:

Still, Salinas sees bitcoin as “an asset that can be traded. It’s an asset, like an Apple share or gold bullion. Later, however, comparing bitcoin to gold, Salinas says that bitcoin is “a better asset because it can be more secure, it can be more portable…it’s more divisible, verifiable. It’s just a better asset in many ways.

And you are right, bitcoin is an asset. However, it is also much more.

BTC price chart for 05/05/2022 on Bittrex | Source: BTC/USD on TradingView.com

Salinas on El Salvador and the Fiat system

This private jet is headed to El Salvador, where Ricardo Salinas met with President Bukele. On his Bitcoin law, he says, “to stop being a colony, it takes more than just issuing your own currency or having a sound currency.” However, he also sees the possible drawbacks, “it is not easy to be simply sovereign, that is, to cut ties. It is not good for anyone to cut ties. »

Today, the President of El Salvador @nayibbukele received me at the presidential house, gave him “The first map of Mexico” and a bearing and received a #Bitcoin coin from him. Thank you very much President for your time and for the pleasant reception. It’s an appetite!!! pic.twitter.com/E1BE6S7sAY

– Ricardo Salinas Pliego (@RicardoBSalinas) March 25, 2022

In general, Salinas has a slightly apocalyptic view of what is happening. He thinks that Bitcoin “is not good for people in power. And they don’t give up their power lightly. However, this does not mean that he is in favor of fiduciary fraud. Not at all. “The trust system allowed the big state to exist, and that means two things. It means a state of war, a national security state, and on the other hand, it means a welfare state. That’s why I call it the welfare warfare state. This is what fiat allowed to happen.

On property and digital money

“Making payments digitally is absolutely the future,” says Salinas. His bank, Banco Azteca, did not merge with the bitcoin network due to regulatory restrictions. Speaking of confiscations, Herbert recounts how the United States froze Russian reserves, Salinas gives the example of Canadian truck drivers and declares: “not everything you have in fiat really belongs to you.”

When Keizer mentions the possibility of Bitcoin changing the current system for the better, Salinas is not so hopeful. “Most people live well living at the expense of another minority,” he says, citing the budgets of the military-industrial complex and the welfare state as examples. “Fiduciary fraud is what facilitates today’s slavery,” says Ricardo Salinas.

What is the solution, though? You guessed it. “I like bitcoin because it puts everyone on a level playing field in purchasing power and doesn’t give any unfair advantage,” he says. “We need an environment of freedom that allows, encourages and applauds innovation.” This gives rise to a cycle, “people copy innovation and improve. Competition.” However, we don’t have that because we don’t have freedom.

That’s all for this first part. Tune in tomorrow for part two of this companion piece to the video “Mexican Billionaire Ricardo Salinas: Bitcoin Interview on a Private Jet with Max Keizer and Stacy Herbert.” Before you leave, Bitcoinist leaves you this jewel by Ricardo Salinas to reflect on: “Being able to see the truth is liberating. Even if the truth is not what you want.

Featured image: Ricardo Salinas video screenshot | Charts by TradingView

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