Bitcoin Masterclass by Ricardo Salinas, Part 3: Understanding Both – w/ Keizer & Herbert

Welcome to the last article in the Bitcoin Masterclass by Ricardo Salinas. The billionaire and his two hosts have already discussed it. nominal fraud And sound money, but they haven’t put it all together yet so you can “understand both”. Keizer and Herbert had Ricardo Salinas share some information about his stock portfolio and BTC allocation, but they skipped everything to focus on his views on Bitcoin and the current system.

At the end of the conversation, the video shows a video of everything that happened to us after the video ended as a musical montage. First post about Salinas’ visit to El Salvador. We see Milena Mayor, ambassador to the US, welcoming billionaires. We see the trio and Samson Mow visit the volcano El Salvador is mining Bitcoin. We see them all having dinner with CZ on Binance. And see the image of Ricardo Salinas and his son meeting President Bukele.

Anyway, let’s get to the Bitcoin content.

Bitcoin is creating chaos

Today’s session begins with a snack. Max Keizer said that weTop Questions Of The Whole Conference “Bitcoin 2022. In other words, “Is Bitcoin causing chaos in the world, or is it reacting to chaos?” What does Kaiser think of his question? He told Salinas and us:

“It seems like Bitcoin is not responding to chaos, but Bitcoin is causing chaos. Because Bitcoin changes people(…) A person with dignity at heart is a mirror that thinks of other benevolent things and is more dignified. I envy anyone who has a bad heart. It makes you more jealous, and it makes you worse.”

Not succumbing to this, Ricardo Salinas has made some terrifying predictions for the traditional market for the next few years.

“What is happening to the illegal world is disgraceful. Now those who expect a pension will be scammed. People who save money for retirement will not have money because they will not have it. It will evaporate.”

BTC price chart for 05/10/2022 on Cexio | Source: BTC/USD on

Ricardo Salinas on President Bukele

“He’s obviously a very sharp guy, he’s young and he’s done these amazing things. So I need to have a better sense of the person. Because whatever he says or does in the media is not the same person,” Salinas said of El Salvador’s president. The two will meet in a day or two. Salinas explained:

“I want to understand what he wants to do and how he plans to do it. I want to hear it from him. But obviously his ability to do other things is evident. (…) As you may be aware that Bitcoin is a legal tender in El Salvador, this completely changes the situation. Because it is now a real currency, not an asset. At least in that jurisdiction.”

Ricardo Salinas and the problem of democracy

In an extremely optimistic moment, Max Keizer explains the current situation. “In my opinion, there seems to be an epic battle between fiat money, evil, and the healthiest currency, Bitcoin. It’s a battle between good and evil.” Ricardo Salinas is not so convinced because today’s system is backed by democracy. Salinas convincingly states that “These fiat scams are maintained by a democratic process, and they exercise their power every day.” He said, “That is the question of democracy. (…) Majority votes are no fun.”

When asked about the book “Bitcoin Standard” we are reading Bitcoinist Book Club, Salinas declares that it is in full agreement with the Austrian School of Economics’ view of the world rather than the Keynesian view. “I think the historical perspective is especially important. (…) This is a must read to understand not only Bitcoin, but also fiat currency scams. Because you have to understand both.” Salinas asserts too.

Until asked about Peter Shiff and his father, the golden worm, Salinas still admires the former king. “Owning gold is not a bad idea. Owning everything in gold is a bad asset allocation. It’s a bad idea to say rubbish about Bitcoin.” And that means if Shiff had focused on promoting gold without criticizing Bitcoin, he wouldn’t be fooling himself.

That’s it. How much have we learned from Ricardo Salinas?

Featured Image: Ricardo Salinas, screenshot from the video | Charts by TradingView

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