Hugo Salinas-Price says “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. [Don’t think it can’t happen in America.] 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.”
Even I don’t want to see a link to my recent book every time, just keep in mind I describe the likely state of affairs after such a collapse, which I believe the Bible warns us about in detail.