hugo salinas price
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.”
Billionaire Issues Chilling Warning About Interest Rate Derivatives
“Just within the past few days I have been told approximately when it will happen! There is a sign, I will tell it shortly!” – Pastor Lindsey Williams
Will rapidly rising interest rates rip through the U.S. financial system like a giant lawnmower blade? Yes, the U.S. economy survived much higher interest rates in the past, but at that time there were not hundreds of trillions of dollars worth of interest rate derivatives hanging over our financial system like a Sword of Damocles. This is something that I have been talking about for quite some time, and now a Mexican billionaire has come forward with a similar warning. Hugo Salinas Price was the founder of the Elektra retail chain down in Mexico, and he is extremely concerned that rising interest rates could burst the derivatives bubble and cause “massive bankruptcies around the globe”. Of course there are a whole lot of people out there that would be quite glad to see the “too big to fail” banks go bankrupt, but the truth is that if they go down our entire economy will go down with them. Our situation is similar to a patient with a very advanced stage of cancer. You can try to kill the cancer with drugs, but you will almost certainly kill the patient at the same time. Well, that is essentially what our relationship with the big banks is like. Our entire economic system is based on credit, and just like we saw back in 2008, if the big banks start failing credit freezes up and suddenly nobody can get any money for anything. When the next great credit crunch comes, every important number in our economy will rapidly start getting much worse.
The big banks are going to play a starring role in the next financial crash just like they did in the last one. Only this next crash may be quite a bit worse. Just check out what billionaire Hugo Salinas Price told King World News recently
Hugo Salinas Price said “I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).
There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.
What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you’ve got because it’s not going to be a very pleasant world.”…
Right now, there are about 441 trillion dollars of interest rate derivatives sitting out there. If interest rates stay about where they are right now and they don’t go much higher, we will be fine. But if they start going much higher, all bets will be off and we could see financial carnage on a scale that we have never seen before.
“This Is Exactly What My Elite Friend Said Will Happen” – Lindsey Williams
Source: Michael Snyder, editor of The Economic Collapse blog.
UPDATE: August 11, 2013 — Due to overwhelming demand I have asked Pastor Williams to elaborate a little more on his statement relating to signs of the collapse. He has said you will need to do certain things before January 1, 2014. He has told me that he will be releasing a new DVD series discussing what his elite friend has told him within the past few days. Since this relates to what may be in store for the economy he has decided to arrange a meeting with his Wall Street insider, who will be featured in his new DVD series to explain in potent detail what may be vital to the welfare and even survival of those who listen. Pastor Williams has stated that he must have this information recorded before he does any radio shows. Expect this new DVD series to be released in the middle of September 2013. It will be released to those who have subscribed to his mailing list first, so if you haven't already subscribed please do so on the right hand side of this page.
Pastor Williams has shared with us very important information relating to getting out of paper investments and into physical investments such as gold, silver and other tangible assets. He also stated that land for growing organic food would also be of considerable benefit to the security of your dinner table. He also said to get out of debt and if you have the ability to pay off your mortgage. It is also imperative for you to fix your medicine cabinet, Pastor Williams created his DVD – Healing The Elite Way that shows you how the elite heal themselves. Most of all Pastor Williams says you should get your spiritual house in order — At the very least you should do these things before January 1, 2014…